Full text of Treasury Bulletin : December 1950
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Library 'C/'/^-^; r't f LIBRARY ROOM 5030 JUN ?, 1 1972 TREASURY DEPART^AENT I WEASUMV. EUHILIETm DECEMBER -laSD UNITED STRTES TREflSURV DEPRRTMENT OFFICE DF THE SECRETBRV December 1950 Table of Contents Page Treasury financing operations A-1 Summary of Federal fiscal operations 1 Budget receipts and expenditures 2 Trust accounts, etc g Treasury cash Income and outgo 12 General Fund of the Treasury I5 Debt outstanding I6 Statutory debt limitation 20 Debt operations 21 United States savings bonds 26 Treasury savings notes 3O Ownership of Federal securlt les 3I Treasury survey of ownership of Federal securities 33 Market quotat ions 37 Yields of Treasury and corporate bonds ko Internal revenue collections k2 Monetary statistics 4-6 Capital movements 50 Corporations and certain other business-type activities Income and expense, and source and application of funds 64- Cumulative table of contents 7I Note: In those tables where figures have been rounded to a specified unit, all calculations (including percentages) have been made from unrounded figures. Consequently the details may not add to the totals shown. December 1950 A-l Treasury Financing Operations December-January Maturities On November 22, I95O, on or after January 2 In the case of certificates ex- the Secretary of the changed. Cash subeorlptlona were not received. Treasury announced that the Treasury would offer an Issue of l-jA percent 5-year Treasury notes In ex- change for the 1-1/2 percent Treasury bonds maturing December I5, 1950. a"<i t^^ one-year 1-1/S percent 195O1 The new notes will bear Interest from December 15i at the rate of 1-3/'+ percent per annum, payable semiannually on June I5 and December I5 In each year certificates of Indebtedness maturing January 1,19 51. The maturing 1-1/2 percent Treasury bonds were out- until the principal amount becomes payable. They will standing In the amount of $2, 635 nil-lllon and the maturing certificates in the amount of $5. 373 "ilHon- call for redemption prior to maturity. The notes are mature December I5, 1955. and will not be subject to to be Issued In bearer form only, 11,000, $5,000, In denominations of $10,000, $100,000, and $1,000,000. The subscription books for the new notes were opened December h and were closed at the close of business on December 7- The notes, designated Series B-1955. are dated December I5. Exchanges of Treasury Bills Refunded Treasury bills matured In November In the amount of I5.5 billion. Each weekly offering was equal to and exchanges of the certificates, Series A-1951. are the maturing amount of $1.1 billion. The average rates of discount on the new offerings were l.^^H to be made at par with an adjustment of Interest on percent for November the bonds will be made par for par on December I5, 2, I.350 percent for November 9, after December I5 In the case of bonds exchanged, and 1.366 percent for November 16, 1.380 percent for November 24-, and I.3S3 percent for November 30. Note: Details of Treasury market financlne operations are ehovn elsewhere In this Issue of the "Treasury Bulletin", In the tables on "Offerings" and "Dis- position", respeotlvelj, of marketahle issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills". January 1. The new notes will be delivered on or December 1950 SUMMARY OF FEDERAL FISCAL OPERATIONS (In mllllonB of dollars) Period . . Treasury Bulletin BUDGET RECEIPTS AND EXPENDITURES. Table !•- Receipts by Principal Sources (In mllllone of dollars) Internal reTenue 1/ InccoDfi and profits taxes Employment Fiscal year or Djonth taxes Withheld by employers 2/ Miscellaneous Internal revenue Total internal revenue Other Grose receipts receipts y 16, 0911 16, 09"* 1,1.98 "•,553 22,1W» 321. 931* 23,1.02 26,262 3'', 655 3,325 U5,l.l.l 6,9119 1*1,685 1.3,902 1*0,310 1.31 355 3,1.91. 1*7,750 19''7. 19,292 35,173 30,885 29,306 1,739 1,780 1,701 5,291 2lt,88li 39,379 1*35 U9l» 3,1.92 l.,635 U.,238 W.,508 igW. 11,U36 19,735 31,171 9,a2 19,6ltl 29,1*82 8,31*8 1950. 10,073 18,189 28,263 588 1,310 1,957 1,032 3,655 2,5^5 817 788 379 2,709 1,267 1,721 3,526 U3U y}k 31*0 91*8 312 19Wt. 19'>5. 19146. 1950-january. February. March.... 771* lv79 April. May... June.. July August September. October Fiscal year 1951 to 4ate. 1,31*2 21,lt93 2,3ll2 ll,ll29 2,02l» 7,725 8,OU9 Sxirr Ivors Insurance Trust Fund 6/ 8,393 10,289 9,392 10,013 19'>3. Appropriations to Federal Old-Age and . .^ . . 1/ 22,202 1,1*59 1,616 1,690 2,106 2,272 2,838 2,160 1.2,211 38,21.6 37,01.5 67 2,381 2,U77 2,883 8,301 1*1,853 1*0,307 1.22 3,821. 1*6,099 381. 2,082 1.2,771. 8,303 39,1*1*9 1*23 1,1.39 1*1,311 67 5IA 362 61)5 3,257 3,1*80 1.7 3,1*81. 37 35 186 599 701 5,1*92 1*3 3,607 5,622 398 229 1,989 2,719 U,590 31* 69 138 2,092 2,895 271* 1I.6 1*,776 222 39 52 11*0 2,1U8 3,238 775 1,969 3,057 It, 722 1*7 201 316 185 93 629 295 701* 31*9 Tl"* 20lt 737 38 UO 66 3't5 819 2,816 1,028 1,768 3,635 73 l.,81.2 51!* 591 1,105 186 80S 2,099 57 IW. 2,300 181 3,190 l4,3U6 7,536 l,0l>2 3,268 11,81*7 195 U85 12,528 881* " 129 Hat recelpte 5/ 70 257 1,679 2,973 3,006 1,130 1,292 1,310 1,238 1,''23 . Be funds of receipts 21.3 1*3,892 1*1*, 762 1*0,027 l«3,0l.3 . c B , . . ,, . December 1950 BUDGET RECEIPTS AND EXPENDITURES Table 3.- Expenditures for National Defense and Related Activities (In Blllloni of dollars) Dapartment of the Air ftorce 12/ JlBcal 7ear or month IS"*?. 19^7. 75,297 89,720 90,501 «S,870 16, 812 igUg. 19U9. 1950. 11,500 12,158 12,378 igw. 19U5. 19^*6. 1950-jajinary . . February. Mareb April. Hajr... Jnne.. July Cepartnent of the Amy Department of the HaTy ii/ ly Payment under Armed Ibrces Leare Act 20,888 26,538 United States Maritime Commission SoTplUB propert7 dlBpoaal 1^ i6/il/ Heconstrootion Finance Corporation strategic and critical materials 18/ 12/ other 20/ 1,986 2,776 3,812 3,227 69U 271 1,501 106 1*2 It.lTl U,ltl2 270 10 277 136 268 25 325 98 4,090 U,110 1 305 297 293 335 357 3"* 298 UlO 286 22 32 29 311 3U9 300 268 293 306 332 302 31 35 39 \l 2k U9,2U2 50,337 27,800 IS, 161 6,911 5,998 6,0it6 1,690 3,506 l,0l»6 936 1,051 96U 1,007 998 339 30,01(7 661t 6,180 3,189 2,682 k^^ 328 138 llU 7,'*^7 6,305 11,117 55U 99 299 U39 7 1*1» 71 225 i.oei. I,lli9 Uo 30 361; 32lt September , 1(39 267 U2 30 33 1,037 25U 386 272 309 Augiiat 1,351 U26 U69 379 52 26 '•,561 1,618 1,380 1,279 165 October p. Fipceil 390 29 year 1951 to date p Source: (Same aa Table 2). Footnotes at end of Table 5> Table 4.- Expenditures for International Finance and Aid (In milllone of dollars] Fiscal year or month 2/ Bret ton Woods SxportImport Credit to mentB Act Total Bank 21/ Dhlted Kingdom 19lt6. 727 159 19't7. 19l»8. 1(,928 1»,1U3 1.1(26 191(9. 6,016 t,657 -60 U5 S3k -20 19 1950. igSO-Januaiy. February March to 568 938 1(65 2,050 1,700 GreekTorkieh AsBietaaca 12/ 51't 161 279 121 881 1,333 753 1(,0U3 -12 803 3,523 Uk 170 267 259 316 l40 7 58 263 319 297 2k 21 15 38 10 23 199 191 208 Ik 15 32 31 25 21 16 236 51 23 Hay... June. 1(20 15 U05 18 July August. . . September. 273 -17 251( k 299 5 October p. 31(6 13 1,173 Other 38 32 37 6 (Same aa Table 2). Footnotes at end of Table 5. 2/ Mutual defense aaslBtance 10 7 359 Source: Economl Cooperation Act 3 ^ril. Fiscal year 1951 to date p QoTemment and relief in occupied areas 22/ 1 6 10 11 35 22 to 8311 21 5 Treasury Bulletin BUDGET RECEIPTS AND EXPENDITURES Table 5«- "Other** Bxpendltures (In nUIlons of dollars) Fiscal year or month Aid to apiculture 2i/ Social security prograa 25/ Public work« Eoualcg WTV^ bCEEBQ finance 11/ si/ 21/ Direct and vork relief 28/ Atcaalc December 19'yO BUDGET IffiCEIPTS AND EXPENDITURES Table 6.- Summary by Months and Calendar Years {In mllllone of dollars) Calendar year Mar. Apr. July Ma; Sept. Net budget recelpta l/ 1932. 1933. 193''. 1935. 1936. 112 205 197 225 110 203 270 208 216 595 750 96U 910 682 791 1,557 1937. 1938. 1939. 19U0. V)^l. 236 290 267 309 225 331* 1.11 19112. 571 783 751 9lt9 X9V>. 2,7'»0 2,li9lt 191*5. 19li6. 3A59 30lt 363 1.39 3,770 3,613 3,5SU 3,725 1..196 19't8. l.,196 19''9. 3,579 3,366 U,158 3,381 2,972 1950. ".17 3,538 5,202 6,532 6,661 5,501 5,3'<2 5,871. 5,1.35 11,820 IU9 233 109 179 221 21.1 228 251. 313 285 369 257 S08 296 383 686 1,508 3W 393 386 556 282 386 U58 527 822 730 552 599 1,270 1,1.72 2,1.69 ».,567 2,895 2,900 2,2U3 6,182 5,702 3,963 1,962 2,239 2,297 U,929 2,321. l.,859 1,31.0 1,1.88 1,91.5 ".,767 k,koh. 3,01.7 2,786 2,159 2,320 82 159 96 182 282 21.3 121. 318 21I. 108 203 336 328 377 2,lt7U 230 230 1.27 3,792 511. lt,333 283 818 668 5,71.7 271. 291. 1.17 252 251 229 289 339 1.95 268 361. 1.08 71.2 267 260 325 Wk 365 1.07 390 672 671 703 1,128 288 295 272 327 739 2,001 2,078 581 2,511 599 2,71". 2,1.32 5,l.'.l ,021. 5,803 ,900 l.,875 l.,386 ,1.53 ,I.UO 2,339 2,101 1,881 2,056 2,692 l.,197 2,51.0 l.,011. 1.1,1.50 2,31.1. l.,19i 38,122 368 686 633 612 651 1.U0 Uh-i 2,1.35 2,656 2,182 2,21.6 2,281 2,096 2,1.38 I.,6l2 2,505 l.,5l.3 1,91*6 2,1.79 l.,832 1,881 2,860 l.,605 31.7 301. 261 326 510 1.37 21.1 31.5 357 356 558 59U 2,093 2,105 2,322 2,288 3,1.31 5,550 513 li,851 731. 5,712 1,205 8,1.67 2,695 5,730 16,290 31., 1.83 5,321. 1.3,531 .,067 ".3,929 '.,050 38,810 1.1,010 Budget expenditures 2/ 1932. 1933. 331. 3I.6 1.28 U1.2 1*33 1.66 266 1931.. 950 633 607 1*57 1.90 51.1 1.58 U59 571 539 U08 551 728 652 2,336 1.62 1935. 1936. 672 605 625 1937. 1938. 1939. 587 513 1,21.8 571. 1.50 1.17 69I. 786 881. 666 956 621. 668 667 665 710 505 513 653 677 1,133 696 687 785 798 8I.3 1,1.82 1,1.01. 605 1,352 881. 1,076 1,591 1,631 l.,1.00 l.,8lo 7,1.75 8,260 8,631 I9I.0. 191.1. 1.95 191.1.. 2,680 6,728 7,737 191*5. I9I.6. 8,11.2 l.,8ll I9I.7. 19I.8. 3,019 2,800 3,205 3,323 191.2. 191.3. 191.9. 1950. 585 2,652 6,358 8,012 7,127 7,71.6 10,1.12 3,31.0 3,598 3,731 3,239 3,086 3,651 3,269 2,221. 2,972 2,1*96 3,515 9,031* 3,939 7,300 7,337 7,758 3,750 3,1.07 2,51*1 6,879 8,927 3,371* 3,281. 2,222 9,51.0 11,836 193".. 1935. 1936. 1937. 1938. 1939. I9I.0. 191.1. 191.2. 191.3. 191.1*. 191*5. 191*6. 191*7. 191.8. 191.9. 1950. -222 266 59U 507 532 1.91 509 519 592 659 501 703 1,020 801 1,668 617 751 692 738 1,989 565 777 752 891 2,328 5,257 5,1.56 7,1.99 7,831 8,203 6,91.9 2,71.5 5,921 7,667 7,779 6,372 2,663 2,962 2,335 3,585 2,515 2,673 3,066 3,995 3,520 727 1.25 8,0lU 8,561 3,287 1*,996 l.,0l8 3,553 3,71*1 3,151 3,101. U,656 3,1*31* 2,81.7 2,962 1*,296 3,013 Budget surplus, or deficit (-) 1932. 1933. 1.35 1.96 661 636 680 ^ 1.92 1.88 5,017 7,1.95 6,61.6 8,539 967 631 888 1,890 671 835 835 1,187 7,635 8,220 9,151 2,681. 20,229 6,l81( 6,012 6,926 57,751 7,619 7,91*7 7,71.1. 90,171* 8,031. 7,811 8,327 97,181 87,522 9,61.5 5,619 l*,530 l*,962 2, 860 2,1*53 3,605 1*1,322 2,391. 2,11*3 3,176 3,163 3,127 l.,102 38,576 36,209 3,722 1*1,711* 2,911 3,111 3,170 Treasury Bulletin BUDGET fffiCEIPTS AND EXPENDITURES Table 7.- Social Security Act - Budget Receipts and ExpenditureB (In illionfl of dollars) Fiscal year or month . ,. , . . , 8 9 . December 1950 BUDGET RECEIPTS AND EXPENDITURES Table 8«- Railroad Retirement Act - Budget Receipts and Expenditures (In millions of dollars) Receipts Fiscal year or month lQli3 , 19kk W"!? , 19l»6 19l»7 , Excess of net receipts, or eipondltures {-) 1/ 1.3 -26.3 -12.8 77.3 1950 -3't.l 1950- January AdmlnlBtratlv© Net receipts 208.8 267.0 208.8 267.1 285.0 282.6 380.1 -11.1. 19't9 Deduction: Refiinds of taxes on carriers and their enrployees 2/ Teaes on carriers and their employe OB -206.5 -15.5 191*8 Ezpendlturae 220.2 265.2 311.1 Tranafers to Railroad Rotlremont Account (trust account) 5.'* 211*. 281.7 380.0 29't.5 2.5 2.3 2.6 302.8 '*.3 262.7 308.8 291.9 298.5 557.0 5.0 758.5 563.1* 5I19.6 763.5 578.9 583.7 l*.li 57'*. 5 .9 582.8 2811.8 557.1 563.8 550.2 -36.5 July August, . September 37.3 .5 .5 123.1 123.1 « 3.2 5.9 125.2 2.9 5.9 125.2 59.1 59.0 -2lt.9 .9 25.8 10.5 126.0 10.5 126.0 26.0 25.8 26.0 331."* 331.'' -77.7 , .9 -15.5 -205. li , October. 37.1* '*.9 -56.1 5.9 125.2 June .9 1».9 123.1 April May .9 It.U . . February. March 2.3 2.3 Source: Dally Treasury Statement. 1/ Eiceas of expenditures Is coTored by appropriations by Congress. 2/ Tax refunds deducted from receipts exclude Interest on refunds, which la Included under "Administrative expenses" 80.5 Consists of expenditures from appropriations made specifically for administrative expenses relating to the Railroad Retlrenent Act, and interest on refunds of taxes (see footnote 2). Less than $50,000. 2/ * Table 9,- Railroad Unemployment Insurance Act^^- Budget Receipts and Expenditures (In millions of dollars) Receipts Fiscal year or month Excess of receipts, or expenditures (-) 2/ 19Wt 2.1 -2.7 19l>5 .6 191*6 -.2 19't3 19'>7 .5 191*8 , 191*9 1950 , 1950- January... February. March -.6 -5.1 -3.2 Railroad unemployment Insurance contributions Expenditures Administrative expenses (Railroad Unemployment Insurance Administration Fund ) uy ^ 8.2 10.3 12.1 13.2 12.9 1U.2 11*. 12.6 13.1 13.7 15.1 llt.8 9.1 12.3 2.2 3.2 3.7 3.5 ''.5 5.5 5.9 6.9 .1* .1 1.1 .1* 9.7 9.0 5.". .U April May June -.1* « .1* .1* -.9 .1 1.0 1.0 .3 2.1 1.8 .3 July August. September -.5 -.8 1.9 * October. -.1* . . ., 1.5 .1 2.3 Source: Dally Treasury Statement. 1/ Operated as Railroad Unemploymsnt Insurance Administration Fund. 2/ Excess of expenditures Is covered by appropriations by Congress. Through 191*8 represented 10^ of contributions under the Railroad Unemployment Insurance Act of 1938; the remaining 90^ was deposited in the Railroad Unemployment Insurance Account In the Unemployment Trust Fund. Beginning In 19U9, represents contributions equal to 0,2^ of the taxable pay roll; and the remaining contributions are ^ 6.0 11.7 8.9 9.6 9.2 1.1 2.1 ^ .1* -1.0 1.7 Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund .1* .U U/ ^ * deposited In the Railroad Unemployment Insurance Account (1*5 U.S.C, (See "Trust Accounts, etc.". Table 7). 358 (f)). Consists of expendituroB from appropriations made specifically for administrative expenses relating to the Railroad Unemployi:»nt Insurance Act. Represents excess funds of the Railroad Unomploynent Insurance Administration Fund, under act of Oct. 10, 191*0 (5I* Stat. IO99). Less than $50,000. Treasury Bulletin TRUST ACCOUNTS, ETC.. Table 1.- Summary of Receipts and Exi)endlturee of All TruBt Accounts, Etc. (In mllllcaifi of dollars) riecal y«ar or month ... . . ' ' December 1950 TRUST ACCOUNTS, ETC. Table 3.- Investments by Principal Accounts (In millions of dollars; negative flgorea are arcasa of redamptlone) Federal Old-A^e and SurrlTor a Insurance Trust nacal year or month INiBd 3.00l» 19^3 19U4 19^5 19U6 Batlonal Senrlee Life Insurance Unesplo/Bent Tnut Aind OoTernaent employees retirement ftmda 1/ 1,228 1.503 61 1,97'* 73 102 1*3 2,053 1,235 ^^ 60 -160 U61 353 -72l» -1,91.6 32 32 -26 Adjusted Service Certificate l^ind 280 393 399 309 282 UI46 148 31H S62 l.W 86 lUO 182 1,19't OoTomeeBt Ineorance lUnd nud 1.035 1,172 1,137 1,002 4,129 5,200 3,668 3,362 19»*7 Eallroad Retirement Ic count 5^3 60 19^*8 igi+g 3,060 i.igi* 2,3U 1950 -1(02 l,29U l,UlU 569 3t6 338 -661 -797 130 250 -80 -21 -177 -U32 -753 -853 -2 -3 10 -26 -2 11 -275 130 58 309 32 -26 31 -110 137 -31 -332 589 -2 -2 36 li»6 July August. . . September, 152 281 726 -2 163 -3 -5 10 317 October... 168 130 -1 -2 -2 1950-Januar7... February Harch 11 . i^rll May June 96 . -2"* -81 98 -1 -63 210 306 -1.5 55 11 7 10 -28 210 67 7 -3 -9 Source: (Same as Tatlo 1). 1/ See Table 2, footnote 2. Leea than $500,000. Table 4.- Expenditures Other Thgn Investments by Principal Accounts (In BiUlona ef dollare; negative flgaree ure excea. of aredlta) Federal Tlfical 7ftar or .onth Total 1/ igUU 1,287 3,178 19'*5 1,09'* igW U,568 3,985 I9't3 I9't7 19i« Old-A^ and SunrlverB Insurance Trust nind 177 217 267 358 >*66 Bent Trust Fund National Serrlce Ufe InsnraBoe Fond OoTeruaent Life Insurance Itmd 176 6 30 31 128 280 282 31* 1,11*6 869 employees retirement ftiads 2/ Miscellaneous y Special depealt accnulta (net) Bedeaptien, er aale (-], •f aeearltlei ef OoirernB«nt eorporatlena, etc.. In the Barket (net) Onaranteed 61 71 152 173 OoTemaent 25 50 67 85 103 260 233 1*28 -271 -508 -1,669 ^f267 323 1,571* 61*7 1,073 372 Hot eoaranteed 599 2.683 1,276 160 387 95 190 277 -66 -28 . March iprtl May Jnse 222 278 85? 302 70 21*1* 1,231* 367 16 -123 31*8 61 28 2,988 llU 526 370 1*6 2,026 222 268 ill* 301* 96 8 11* 863 1,176 1,310 67 67 68 25 203 175 217 U80 2U 23 23 1*2 -6 818 917 1)0 9 23 659 1950-Jannar7. Itobmaiy . 559 661 781* 69 37'* 23 2U 69 70 26 27 26 IU3 1*29 1950 11*7 125 98 2l* -8 -1 21* 26 26 26 93 56 U5 23 22 28 26 35 97 lio lU 61 21 21 33 26 33 25 Uog July August. . September, 298 258 69 70 73 October, 3U0 126 . 273 129 90 6U (Same bb Table 1), Excludes expenditures of Foreign Econaalc Cooperation Trust Fund (all In I9U9); see Table 1, footnote 1. See Table 2, footnote 2. So\irce: 2/ 130 thi employ- 3,750 3,898 6,971 19'*9 1/ Railroad Betlroment Account 1*2 27 19 13 5 1 Includes Adjusted Service Certificate PuM, District of Columbia, Indian tribal funds, expenditures chargeable against lncren»nt on gold, mutual defense aselatance, etc. Less than $500,000. Treasury Bulletin 10 TRUST ACCOUNTS, ETC.. Table 5.- Federal Old-Age and Survivors Insurance Trust Fundi/ (In millions of dollars) 3 1 .. ., 3 5 9 U 3 3 8 U 9 2 3 6 U 3 U 7 December 1950 11 TRUST ACCOUNTS, ETC. Table 7.- Unemployment Trust Fund (In millions of dollars) 71ecal y»ar or month Deposlte by States 6,6lU.O 1,566.9 1,507.8 1,279.8 1936-19'>3. 19ltJt 19't5 19'i6 igi*? 271.. l,3't9.3 109, l» 1,256,0 1,009,9 1,005,3 118.8 116.2 127.6 1,007,3 130.6 .1. .1. ,1. 17.'. 11.7 8.9 9.6 9.2 281. 96.5 123.6 1U3.6 2,21.1.5 2,092.1. . February, March AprU May June 11.6.9 165.3 180.1 167.1 1,506,3 ,8 1,1.36,5 372.5 .,367.0 5,878.8 5,870.0 7,315.3 7,307.2 17.2 51.7 133.9 7,1.1.9.1 7,1.09.0 1.19.9 7,869.0 7,852.0 U,8 5.3 60.8 798.1 858.9 1,313.8 1,227.1 2,025,5 1,879.0 l.,372.5 .6 I15I1.O 8,323.0 8,298. 8,182.1. 8,138.3 18,1 Ul.U 22,1 6.5 2.7 1.5 31.8 6.5 6.9 .1. .1. .5 July August., September. 981i,0 .1 9.7 9.0 1,098,8 9.7 5.1. 109.6 169,8 21.1 36.8 169.5 13.7 72.8 203,1. .1 .1 2.8 ..7 175,3 217,2 31.1. .1. .7 .1 11.2.9 11.7.2 75.1. 128.7 60.0 "..5 56.7 1..5 280.1. .1 10,5 3.2 35.1 287.6 .2 .1 1.5 U.l .2 Inception to date 16, 1.02,5 ll.,015.2 1,303.8 3.1. (Same as Table 1). Source: 1/ Excludes interim advance of $15 million from the Treasury and subsequent repayment, both taking place In the fiscal year 19'.0. 2/ Represents contributions under the Ballroad Unemployment Insurance Act of 1938, as amended (1.5 U.S.C, 36O (a)). In excess of the amount specified (See "Budget Receipts and Expenditures", for adjninlstratlTe expenses, Table 9.) Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxee collected with respect to period frcm January I936 to June 1939, Inclusive, from employers who cone within the purview of the Railroad Unemploymsnt Insurance Act, y % ^ .3 .3 -93.8 -5.5 -196.1 7,65l..7 7,616.3 7,61.9.1 7,595.3 7,1.53.0 7,1.18.3 1.6.9 30.5 '..3 8,1 6,2 5.2 lUl.O 123.5 -110, 133.5 -38,2 7,31.2.6 7,308.3 7,1.76.1 7,1*5.3 7,1.37.9 7,'*1'».3 31.6 27.9 22.1 2.7 2.9 1.5 ,2 -57.8 198,1 -1.7.6 7,380.1 7,351.3 7,578.2 7,561.3 7,530.5 7,516.3 26.3 15.1 12.9 1,". -23. 1. 7,507.1 7,1.88.3 17.0 1.9 7,507.1 7,507.1 7,1.88.3 17.0 1.9 I. 5.2 8,895,1. 8,362.3 8.1. 12,1 15.0 15.76/ 131.. 61.2 9.3 1.5 8.5 7.8 31.7 7,1*37.9 7,1.1'.. 89.0 3T.5 . "t.O 1., -1U0,6 -71^,5 81.. 37.7 October, 35,'. 287.6 16.8 86.76/ 11.6.55/ 187.7 163,2 202,2 93.2 89.5 6U,5 . In disInveetbursing In mente offitrust account cer's account 1.3.2 105.9 60,0 70.1 71.3 1,11.5.9 1,128.3 817.1. 869.5 60,6 32.5 280.7 90,5 1950-Januflr7. nnezpended balance m 1,312.9 1,173.2 1,281.0 wi'g 1950 Net Increase, or decrease Transfers Burance Wlthto EaU(-), dravals road \3Dism- Account l/ by ployoent aaeete States Insurance Benefit Account i/ pajiBsnte Inreetmenta y 105.9 5,935.0 1,289.11 \9hS, Trans- Transfers Contrl- fers from butlona frooD AdmlnlBstates tration 2/ Fund Ballroad Uoemploy- State accounta Kallroad UbanployiDBnt Insurance Account l/ State accounta Aseeta, end of period ExpeulltureB other than iDreetmsnte Becolpta 107.2 1.25.9 6/ 2.5 1.8 Represents eiceae funds of the Railroad Ojoemployment Insurance Administration Fund, unier act of Oct. 10, igUo (5^ Stat, IO99). For railroad unemployroent benefits and refunds, Inclxides transfers to the Railroad Unemployment Administration Fund as follows: $9.7 mlUlon In flscea year 19U9, $2,3 million In September 191*9, and $.U million In January 1950, representing adJustnent for crrer-collectlons due to retroactive change In tax rate under the Railroad Unen^iloyment Insurance Act, as amended (U5 U.S.C, 358 (a)). Less than $50,000, Table 8.- Natlonal Service Life Insurance Fund (In ffllUians of dollars) Expenditures other than Inrestaents Becelpta Fiscal year or month I^r'enlums and other receipts 366.0 19l.l-19'.3 329.1 781.1 Transfers frcm General Fxmd 31.5 101.2 1,116.5 l,38l.U 816,7 I9W 90lt.5 I9I.5 2,127.'. 951.. 191.6 2,351.0 81.1..7 191.7 l,50lt,l 516.6 191.8 19'.9 739,7 690.1 1,076.1. 387.5 392.8 398.7 153,0 87.0 1950 1950- January.,. February,. 55.1. 1.0.3 56.3 31. March 69,1. .2 1.0.5 7.5 7.6 10,5 April May June 51.3 53.5 35.2 202.1. 1.1.7 9,6 16,2 6.7 29.1 July August, , , September. 28.1* 27.3 39.0 26.2 October. 1.6.6 1.3.2 3.1. 9,90l..U l.,7U0.2 U, 169.1. . Incsptlon to date 1.1.1 Source: (Some as Table 1). * Less than $50,000. Benefits Special dividends Interest on InTestments (-), in Assets, end of period Total Investments Itoexpended balance refunds 5.1. 1.7 2.1 2.2 31.. 1.72.3 Net Increase, or decrease 22.2 56.7 6.9 6,9 Sl.l. 170.9 128.2 279.8 279.3 199.2 210.3 205.0 ,987.9 7.6 1.79.6 359.1 873.2 1,999.3 2,071,2 31.1. 128.2 279.8 279.3 121.. 301.9 301.9 3I.8.I 1,221., 31.8.1 351.. 1.37.7 31.1.9 2,633.0 7,1. 18,9 1.1*. 6,1.73.7 It 63.1 53.9 6,965.3 7,307.2 5,395.7 6,931.. 5,3'.2.1 30.6 19.6 53.6 7,287.7 W.9.6 787.7 886.7 -1.21.. -761.1. -81.8.0 7,295.1 6,533.7 5,685.7 7,263.2 6,510.2 5,657.2 31.9 23.5 28,5 29.1. 3'J..7 9I..6 -322.3 -71.9 5,363.1. 5,291.'. 5,325.2 5,2W.,2 38,2 69.7 iolt.3 5,395.7 5,31.2,1 53.6 -27. 1> 5,368.3 5,31.0,6 817.7 18.5 917.1. 7.9 2.1 37'..1 125.1. 151. .0 98.2 30.8 28,5 56. 27.6 1.5.3 29.1. Uo.l 991*. 351.7 1,213.1. 3,187.1 5,239.7 30.1 30,0 30,7 II.. .1 -1,9U.5 359.1 1,232.3 3,231.6 5,302.8 6,527.6 29.1 28.9 15.9 11.0 1.2.2 31.0 U,5U7.6 1,81.7.6 1.7.3 -I.. 5,361. .2 5,337.1. -11.7 5,352.5 5,328,1 27.7 26.7 2U.3 11.2 U.l. 5,356,8 5,328.9 27.9 2,700,0 5,356.8 5,356.8 5,328.9 27.9 Treasury Bulletin 12 TREASURY CASH INCOME AND OUTOO. Table 1.- Sunmary of Cash Transactions (In mllllone of dollars) Flsoed year or non^ December 1950 13 TREASURY CASH INCOUE AND OUTGO. Table 3.- Derivation of Cash Budget Expenditures . Treasury Bulletin ll^ TREASURY CASH INCOME AND OUTOO Table 5.- Derivation of Caeh Borrowing or Repayment of Borrowing (In millions of dollars) Fiscal year or month . December 1950 15 GENERAL FUND OF THE TREASURY, Table 1.- Status of the General Fund (In Deposits in Vedsral Beserre Beaks Bolllon, coin, and currency Snd of fiscal year or aonth BllUona of dollars) Arellakle fttnds 11*9 150 20,775 25,119 15l» 10, iguu! I9l*5 761 666 558 In process of collection 3,730 5,370 3,862 5,927 1,073 1,022 1,052 191 219 191 1,928 1950-Jamiar7... February., March 5,1*21 5,1*89 6,1*38 1,029 1,027 1,029 221 220 April Hay June 5,071* 't,757 1,011* 191*6 , 191*8 , 191*9 1950 , ll*,708 5,927 1,036 1,052 232 1*38 123 103 950 11*3 677 666 1,006 121* 221* 236 216 191 875 588 950 566 733 97 102 216 190 ^?^ 11*3 July Auguet. . September. i*,86i* 1.051* 195 5,501 5,932 l,0Ul 1,051 207 213 1,U6 171* October. l»,537 1,009 231 569 111* . .. 9,507 20,169 2i*,698 1*70 11*, 1*22 3. 283 309 323 1*38 1*10 U,932 3,470 5,517 2,898 3;iU6 3,665 381 306 372 303 317 5,186 6,121 302 2,560 3,268 281* 1,773 1,771 3,268 2,6l8 3,115 3,065 2,317 321* 392 238 308 5,01*9 I*, 702 U,i*6l* 323 1*10 5,517 33"* 361* i*,500 301* 316 311* 1*28 5,185 5,505 298 392 Table 2.- Analysis of Change in Balance In the General Fund TlBcal jear or month Itand 1*21 Iblly Treasury Statement. On account of withheld taxes and sales of Ooveroment securities. (In nillions of dollars) Balance in the General 6U3 607 533 507 289 305 310 Soiu'ce: 1/ LiaMUties 2,51*3 1,500 1,006 1,202 21*3 Other depoeits and collections 7.667 18,007 22,622 12,993 962 1,038 1,1*1*2 150 160 1,023 191*7 Deposits in special depositaries It, 11*5 ., .. Treasury Bulletin 16 DEBT OUTSTANDING. Table 1.- Sunmary of Federal Securities (In millions of dollars) Intereat-bearla^ Total outstanding End of fiscal year or month PqWIc delit Aiaranteed securities Matured debt and debt bearing no Intereat d*l)t Ouaran- Public aecorltlee Public debt teed. debt Total International Bank Total V U,100 1.623 I9>t7 1U0,796 202,626 259,115 269,898 258,376 19M« 19^9 1950 252,366 252,798 257.377 252,292 252,770 257,357 73 27 20 250,132 250,785 255,226 250,063 250,762 255,209 17 2,012 2,150 279, 76"* 279, 21U 551 278,1*51 277,912 539 1,313 1,301 238 2511,869 21* 251*, 1*06 Monetary Aind 19^3 igw 19M igUS 136,696 201, X3 I39,'t72 135,380 lt,092 1,321* 199,5't3 1,516 256.357 268,111 1109 1,567 2,350 1,321 3,179 258,682 269, 1«2 258,286 "•33 t76 90 201,059 256,766 268,578 255,197 255, U67 83 U3 2,231* 1,316 i,U6o 2,326 1,311 3.173 11*1 2,229 2,009 280 2,ll*8 265 201 269 376 231 21*5 Other U16 1,721* 1,175 1.259 2,057 935 802 66 Ul 1,161 1,063 1,270 722 660 613 Ouaranteed securities 1/ (natured) 8 107 2U 10 6 5 3 2 Bsbt pealc Peti. 19U6 1950- January... 1,063 256,892 256,395 256,865 256,36s 27 27 255,7't7 255,72't 2U 253,527 253,506 2U 21 1,997 1,962 2,218 32fc 1,008 1,008 1,270 632 March 1,999 1,965 2,220 356 Jtebruary.. 25't,893 25'»,U30 Jkpril 255, Tto May 255,718 256,350 257,357 22 20 20 253.536 254,200 255,226 253.516 25U,183 255,209 19 18 17 2,20U 2,170 2,150 2,202 2,167 310 280 265 1,270 1,270 1,270 621 617 613 257,5'»1 25T,87l« 16 18 20 255,1*16 255.1W3 11* 2,11*1 2,138 255,779 15 2,112 2,250 2,U0 2511,986 255,76it 25lt,968 2,21*7 258 235 375 1,270 1,270 1,270 610 605 602 25l*,750 25l*,731 2,209 2,206 337 1,270 599 June 256,370 257,377 July August September. 257,557 257,891 257,236 257,216 October. 256,959 256,937 . . 18 2,ll*8 62& Source: Dally Treasury Statement. Footnotee at end of Table 2. Table 2«- Net Change In Federal Securities (Increase, or decreaBe (-), in allllone of dollerB) Total outatandlne Plscal year or month Public debt 191*3 191*1* 63,805 61,830 191*5 56,1*89 I9U6 191*7 10,783 -11,523 191*8 -6,010 Interest -bearing debt Oiaranteed securities 1/ 61*, 271* -U68 307 57,679 -2,1*77 10,7110 1*3 -11,136 -387 -5,991* -16 61*, -1.190 Public debt Matured debt and debt bsarlog no Interest Guaranteed securltlee 1/ Internat i onal Bank 63,1*12 ^57 6C,i63 56,813 -2.576 -1.107 58 -383 850 2U3 782 -1.029 1.858 -5,050 698 -lU -91*6 -1*5 U,l*lt8 -7 62,955 61,587 55,707 11,812 -13.381 -12,997 -5,065 653 1*. 1*1*1 11,751* 862 60 -1,011* 68 108 1,862 -11*5 U16 -91*1* 1*9 -350 -221 138 -220 139 -35 20 -1*1 -llU 111* 1*32 1*78 -1*6 1950 i*,579 i*,587 -8 -268 -265 -1*97 -1*97 -1*63 -31* -61*8 -6U5 -3 -90U -900 256 -7 -6 632 1,007 -2 -2 9 665 1.026 11 666 1,027 -2 -2 190 363 -793 193 361 -796 -1* -236 -238 . April May June 630 1,007 -153 -1 July August, . . September, 180 335 -656 133 333 -3 -658 2 October. -277 -279 , 1 -151 -3 • 2 2 1*2 11*1* 866 191*9 1950-Januai7. . February March ftiaraD- Public debt -16 -3U -19 -10 -28 137 -1*1 256 Honetaiy IVittd Other 2/ teed securities 1/ (matured) December 1950 17 DEBT OUTSTANDING. Table 3.- Interest-Bearing Public Debt ^ , . Ireasury Bulletin 1« DEBT OUTSTANDING. Table 5.- Interest-Bearing Securities Guaranteed by the United States Govemnent (In BillllonB of dollars) Nonmarke table End of flsoal year or month ms Ccmmodlty Credit Corporation Federal Farm Morteage Corporation Federal Bousing Adninletratlon I1I2 930 23 Ownora' Loan Corporation Public Bousing Administration Reconstruction Finance Corporation Coanodlty Credit Corporation 2/ 1,516 3,908 1,190 I1O9 ^>> 3U 183 326 375 '•,092 Willi 19115 19I16 , ltl2 2ll 1,533 755 lilt 896 68 150 375 Paeons tructlon Finance Corporation 1/ 115 176 li2lt U67 k3 '.3 li2U wut 83 38 38 "15 lt5 19118 19l»9 69 2k IT 27 27 lt2 lt2 13 16 13 16 11 11 1 1 1950-January, , February,. March all lit lit 10 2U 21 15 15 15 15 10 6 10 10 April May June 19 18 17 15 16 16 15 16 16 lU 15 18 13 13 15 18 15 18 1950 July August, . September. . October, ,, Source: Dally Treaeury Statement. 1/ Excludes guaranteed securities held by the Treasury, 2/ Consists of demand obligations stated as of the close of the previous mDnth. Consists of Reconstruction Finance Corporation notes Series X-A, X-B, and X-C, vhlch were held by United States Goremment corporations and credit agencies. Less than $500,000, Table 6.- Special Issues to United States Government Investment Accounts (In millions of dollars) End of fiscal year or month 6 December 19 "yO 19 DEBT OUTSTANDINO. Table 7.- Computed Interest Charge and Computed Interest Rate on Federal Securities (Dollax amounts In milllonfl) End of fiscal year or month ) Treasury Bulletin 20 STATUTORY DEBT LIMITATION, The Second Liberty Bond Act, ae amended (5I U.3.C. 757 b), proTldee that the face amount of obligations Issued and the face amount of under authority of that act, aggregate (275 billion outstanding at any one time. Obligations Issued on a discount basis, and subject to redemption prior to maturity at the option of the ovmer, obligations guaranteed as to principal and Interest by the United States (except guaranteed obligations held by the Secretary of the Treasury), shall not exceed In the are Included In the statutory debt limitation at current redemption values. Table 1.- Statue under Limitation, October 31, 1950 (In BllllOBU of dollare) Mazlna aaount of aecurltles vhlch na/ of jMia 26, 19''6 (31 bo outfltandlng at any ODe tlaa, imdar llBltatloDa l^oead hj tha act 275,000 U.S.C. 757 b) Amount of aacurltlaa outstanding aubjaot to auch statutory debt llAltatlco: U. S. GcTomBant eeourltlee Isatiod 2*^6 226 ,^,<^<= under the Second Liberty Bond Act, aa aaanded 22 Guaranteed aecurltiee (excluding thoee held by the Treaaury) Total aaount of aec\n*ltlea outetaodlng aubjeot to atatutory debt limitation • • • 18,752 Balance laauable under limitation. Source; 256,21*8 Bureau of the Public Debt. Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding October 31, 1950 ( Claaa of security In allllone of dollars December 1950 21 DEBT OPERATIONS. Table 1.- Maturity Schedule of IntereBt-Bearlng Public Marketable Securities Issued by the United States Government and Outstanding October 31, 1950 ^ 22 Treasury Bulletin DEBT 0PERATI0K3. Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding October 31, 1950 J^ (Continued) December 1950 23 DEBT OPERATIONS. Table 2.- Offerings of Treasury Bills Treasury Bulletin 21* DEBT OPERATIOKS. Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes* and Certificates of Indebtedness December 19 W 25 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 Besults of exchange offers Called or naturln^ security )/ Iste of refunding or retireBent Date of Iseu* Description Disposition offers tl7 Treasury ioount outstanding ent (In 7/1A8 7/8* l/St 7/Sf, Cortlfloate Certificate Certificate - l/l/kB-t 7/1/I-7 2,71.2 - 7/l/'>8-0 7/l/lt8-H 8/1A7 9/1/1.7 1,127 2,209 - Total 9/15/W 6,078 2-1/2* Bond 1-1/2* Note 1* 10/1/1.8 lit 1* Roto Certificate Certificate 9/l5/li8.. 9/l5/li8-A 3/15/38 3/15/W. - 10/1/U3-B 9/15A7 l.,092 - IO/1A8-J - 10/l/l8-K 10/1/1>7 11/1/1.7 1,351. 1,1.67 - Total 12/15A8 1/-LM 1.51 3,7U8 6,913 Bond - 12/15A8.. 12/8/39 571 1-1/8* Hote 1-1/^ Certificate - 1/1A9-A 12/1/1.7 - 1/1/U9-A I/1/U8 3,535 2,592 2* Total... 6,127 2/lA9 1-1/8* Certificate - 2/1/U9-B 2/1/1.8 2,189 3/l/l»9 1-1/8* Certificate - 3/l/l»9-C 3/1/1.8 3,553 U/1/1.9 1-1/8* Certificate - U/l/Ug-D I./1/U8 1,055 1-1/^ Certificate - 6/I/U9-B 6/1A8 l.,301 Bond - 6/15/1(9.. 1/15A2 1,011. 1-1/8* Certificate - 7/lA9-r 7/1/1.8 5,783 Bond - 9/l5/l>9.. 5/15/1.2 1,292 10/l/lt9-O 10/1/1.8 6,535 I2/15/U9-H 6/1A9 2* Total 7/l/'t9 2* 10/1A9 5,315 l-l/li* Certificate - 1-lA* Certificate Bond Bond - I2/15/I19.. - 2-1/216 BoM 12/15 A9.. 12/15/1.8 7/l5/'t2 12/15/3I1 519 2,098 3-1/^ I2/15A9 - 12/l5/li9.. 12/15/36 1,786 2* - Total 1.91 U,89U 1/1/50 1-lA* Cortlfloate - I/1/50-A I/1A9 5,695 2/1/50 1-lA* Certificate - 2/I/50-B 2/1A9 1,993 1-lA* - 3/1/50-C 3/1/1.9 2,922 - 10/19/1.2 - 3/15/50 U/1/50-A 1,963 3,596 "./i/so Cash retlre- Certificate Bond 2* 1-3/8* Bote 9/I5A8 Total 5,559 "•/i/so 1-lA* Certificate - lt/l/50-D I./I/U9 963 6/1/50 l-l/U* Certificate - 6/1/50-E 6/1/1.9 5,019 7/1/50-F 7/1A9 9/I5A9 5,601 1-1/1>* Certificate - 1-1/8* Certificate 2-1/2* Bond Bond 2lt 9/15/38 - 9/15/50-0 9/15/56-52 9/15/50-52 1./15/I.3 1,197 1,186 .,939 - - Total 7,322 10/1/50 1-1/8* Certificate - IO/1/50-H 10/1/1.9 6,21.8 12/15/50 1-1/2* Bond 1-1/8* Certificate - 12/15/50 I/I/5I-A 6/1A5 - 2,635 ;,373 Total .-. 1/1/50 8,008 Xzehanee eecorltj offered llllons of dollars) * Turned In for cash changed federal Reserre Banks;/ other Investors Dsaerlptlon of nav oaeurlty offered ?6 Treasury Bulletin UNITED STATES SAVINGS BONDS. United States savings bonds were first offered for sale In March 1935 and began to mature in March 1945. Series A-D ^ere sold from March 1935 to April igl*^!. and dollar sales by States are published at less frequent Intervals but are shown on a monthly basis. have been on sale since May 1, 194l. Series A-F sales are shown at Issue price and total For Information on the terms and oondltlons of these bonds, redemptions and amounts outstanding at current redemption values. Series Q Is shown at face value throughout. Series E, F, and see "Treasury Bulletin" Issues for December 19^7, page 3I and October 191^5, pages A-k and A-5. In addition to the Information on savings bonds operations which appears each month, data by denominations Matured bonds which have been redeemed are Included In r«demptloms. Matured bonds outstanding are Included In the Interest-bearing debt until all bonds of the series have matured, when they are transferred to matured debt upon which Interest has ceased. Table 1.- Summary of Sales and Redemptions by Series, Cumulative through October 31, 1950 : : : . .. . . December 1950 27 UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods (Id mllllonB of dollars) Accrodd discount Period Redemptloofl 2/ Sales plus accruad discount Sales price ^ Amount outstanding Accrued discount Matured de^t Interesttearing debt risoal years: 1935-19''2 2ll6 "1,195 92 96 103 106 19't9 92 96 103 106 107 110 101 1950 3, 91*9 19l»3 19U1 W"*? 191^ 19lt7 591 88 79 572 82 19 6 72 11*3 117 309 21*2 8 25 67 1*82 68 19l<5 19lt6 m? X9k% 191*9 637 615 91. 100 105 81 78 226 390 71* 100 105 107 109 108 86 3,91*9 19^^ 19UU l*,2U0 91. Calendar years WSS-ltS 1,081 370 393 530 812 291 191*8 107 110 101 68 107 109 108 86 516 703 113 123 172 269 3,601* 18 1*0 59 73 92 22 7 8 70 3,608 3,625 3,585 3,365 2,968 2,51*3 1,927 895 3,603 3,616 3,638 1*81 179 302 367 576 83S 631 87 Ul. 139 207 168 97 98 56 32 32 150 129 116 1,280 1,178 1,065 107 99 92 1,000 939 895 87 81 77 850 796 759 72 710 1.7 1.36 1*1 87 122 2,71*2 11*6 2,250 203 1,1*1*0 3,1*77 3,lli8 Months: 1950- January.. February. March.. 11 6 11 6 U 221* I* April.... 3 2 3 77 71 58 19 2 51. 16 3 3 53 1*0 13 5 5 56 1*2 I* 1* 6U 1*7 2 2 1*2 31 . May June July August, September . 129 130 October. 1.1 II* 1 ) 17 P p U 15 P Series E, F, and C Fiscal years 191*1 661. 191*2 191*3 5,993 11,789 191*1. 15,1*98 36 127 191.5 11*, 891 281. 191*6 9,612 7,208 6,235 1.67 19''7 191*8 19I19 2 583 691. 826 977 7,11.1 1950 5,673 66U 5,995 1 1 661. 75 760 2,292 75 760 2,296 l.,156 l*,13l. 6,1.08 6,337 1 6,581. 17,61*8 6 30,981 5,063 l*,95l* 21 71 109 1*2,000 1*5,670 1*8,398 '*,597 l.,365 l.,l*53 11*1* l.,191 171* 50,730 51., 333 l*,3l*2 ••,133 209 56,6m 23,71.6 5,91*1 l.,522 2 12 39 97 123 1*,1*0U 161. 1*,077 186 52,801 55,267 377 272 361 17 289 380 506 335 383 U03 318 362 383 17 21 20 11,821* 15,625 15,175 10,078 7,791 6,929 7,967 6,650 Calendar years I9I.3 2,537 9,157 13,729 191*1. 16, Old. I9I.5 12,937 191*6 7,1.27 6,691. 191*1 191*2 191*7 I9I.8 2,537 9,169 21*6 21.5 71* 13,801. 1,501* 195 379 533 633 16,239 13,315 7,961 7,327 8,059 6,729 1,502 3,251 5,293 7,295 5,833 April May June 98 68 521* 82 805 6U9 607 71. 1.97 78 108 1*91. 398 July August. . . September Oc tober , 707 581 1*23 Months: 1950- January. .. February. March 761* 1*16 191*9 109 78 85 1*17 . , Footnotes at end of table. 350 310 971 y 2,521* ll. 12 ll* 3,263 5,332 6,038 1*,6U5 l*,568 l*,263 39I. 11,1.1.7 16 19 36,723 Uii,706 1*6,628 1.9,311 55,079 56,039 56,266 56,1*27 56,539 56.6U1 526 l>k9 1*28 1*29 U73 1.1.5 21 28 p 56,671* 395 1*33 1*09 23 P 56,637 1,01*8 UUO 1*13 27 P 57,21*5 (Continued on following page] 56,718 . : , 2S Treasury Bulletin UKITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions of Series A-D, B, F, and G by Periods - (Continued) (Dollar MSBBta 1b llllsai) S&Ul 3*1»« 1/ Accrued dlseoBAt BadsaptloB 2/ plai coxvad Sal<i prlc* dlBCOOBt AdOonad dlaeoomt Sanaa X riacal yaara: I9IH 19U2 19^3 19IA 203 19U6 3,526 8,271 11,820 11,553 6.739 19'»7 ^287 IShi ",026 I9't9 '*,278 1950 3,993 19^ 1 33 118 26s l»3U 536 633 753 895 203 3,528 - 60 689 2,100 11,938 11,818 7,173 3>6 60 683 2.095 3.825 5,912 5.8'»3 lt,g24 ''.391 '»;659 3.825 3,530 3,521 (,288 3,689 3.368 3,326 8(3* 5.032 Calagdar yaara: igltl l.lUs 5,989 I0,3i« 12,380 9.822 191*2 19»t3 19lW i^::::::::::: it,U66 19'*7 I9itg u.ogs 19^9 U,208 U,22>t l,ll»5 10 70 182 ?53 &93 579 696 818 5.'«3 3.930 3.728 11 209 1.37s 2.993 ',925 5,330 3.8I3 3,575 3.W« 3,27'» 320 22U 309 305 209 WtO 37'* 275 259 S93 315 368 3*8 367 io|5iU 12,562 10,175 I'M u,9ao 5,025 11 209 1.380 'i.963 Mentha 1950- January.. ftTimary. March 190 36>t 88 63 77 305 307 297 69 73 98 July August. . September, 318 270 2W. 98 73 l»l6 79 323 October. 271 72 3l'3 . iprll.... MV Juaa , . 361 U2l» 380 396 292 326 360 33'' P Aaoont oatataadiDf (lotaraatburloc dabt) Paroaat of Boathly radaaptlooa to aaouat outataadinc . . , December 19'yO 29 UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods - (Continued) (Dollar aaounta In nlUlomi) Sales 1/ Accrued dlBcount Salee plus accrued discount Bedenptions 2/ Sales price Accrued discount Amount ottte tending ( Interestbearing debt) Flecal years: 19'»1 19lt2 1 1 39"t 12 55 12 55 2,1.11. 395 2,032 2,759 2,876 2,658 395 2,032 2,759 2,876 2,658 220 220 2,li65 2,1.65 31.8 31.8 1.69 566 1950 l,Ult9 2,561 1,907 2,390 1,W.9 1.69 wkg 2,561 1,907 2,390 619 621 566 619 621 1,185 2,516 29 , , ms 19W1 19't5 19lt6 , 19'»7 , 19U8 Calendar years: igkl 13"t S 89 181 2 29 89 181 261> 261. 1.26 512 U26 512 618 618 613 613 1,185 2,516 2,6U0 2,891 2,520 2,637 2,267 2,573 1,392 2,891 2,520 2,637 2,267 2,573 1,392 1950-Januai7. . February.. 267 189 267 189 57 57 1.8 U8 March 13". 53 53 April Hay June 102 92 86 102 92 86 Its 1.5 53 52 53 52 87 70 58 87 60 59 65 60 70 5B 555 60 60 19li2 19''3 19Wi WUS WW 19''7 19118 19'»9 2,61.0 Months: July August. . . September. October. . 555 y 59 65 Percent of monthlj redenptlone to amount outstanding ) Treasury Bulletin 30 TREASURY SAVINGS NOTES, Treasury savings notes (originally designated tax Report of the Secretary of the Treasury" for 19^2, pages Series A 207 and 220, and for sales and redemptions by fiscal yesu-e savings notes) have been Issued In four series: from August 1, 194l, through June 22, 19't-3; Series B from and months, August 1, 194l, through September 12, 19')-2; Series C from pages September Ik, 19't2, k-2 and see "Treasury Bulletin" for February 19'*6, '^3. through August 3I, 19^8; and Series D on continuous sale beginning September 1, iglJ^. In the following tables sales and redemptions of Details concerning terms and conditions for purchase and redemp- Treasury savings notes are shown at par value. tion, and Investment yields of Series D notes will be found notes redeemed (either for cash or for tax payment) are and included In the figures on redemptions. Matured notes outstanding are reflected In the Interest-bearing debt In the "Treasury Bulletin" for October September I'^k'), page A-1. igl^S, page A-1, Similar Information concerning Matured Series C notes will be found in the "Treasury Bulletin" for until all notes of the series have matured, when they pages A-4 and At5For details concerning terms and conditions, investment yields, and tax payment or redemption values of Series A and B, see "Annual transferred to matured debt upon liilch Interest has ceased. October 19'+5, In accordance with the practice of the Dally Treasury Statement. Table 1.- Summary of Sales and Redemptions by Series, Cumulative through October 31, 1950 ( Series are In mlllione of dollars December \9'yO 31 OWNERSHIP OF FEDERAL SECURITIES. Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues (In End of fiscal year or month minione of dollare) Treasury Bulletin 32 OWNERSHIP OF FEDERAL SECURITIES, Table 3,- Estimated Ownership of Federal Securities by Bank and Nonbank Investors (Par values 1/ End of month - In billions of dollars) - December 1950 33 .TREASURY SURVEY OF OWUSBSHIP, SKPTKMBH? 30, 1950. The Treasury Survey of Ownership oovera securities Issued by the United States Government and by Federal The banks and Insurance companies Included agencies. In the Survey account for approximately 95 percent of such securities held by all banks and Insurance companies Data were first published for in the United States. March 3I, 19'4-1, in the May 19^1 "Treasury Bulletin". 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 classes and nonmember banks is published for June JO and December Jl. Securities Issued or Guaranteed by the United States Government Table 1.- Summary of All Securities Treasury Bulletin 3"^ .TKEASURY SURVI^f OF OWNERSHIP, SKPTKMBKR 30, 1950. Section I - Securities Issued or Guaranteed by the United States Government Table 3. - Interest-Bearing Public Marketable Securities by Issues (Pax values Issue (Tax status 2/ Is shown in parentheses) - in mllliona of dollars) December 1950 35 .TREASURY SURVEY OF OWNERSHIP, SEPTEMBER 30, 1950. Section I - Securities Issued or Guaranteed by the United States Government Table 3.- Interest-Bearing Public Marketable Securities by Issues (Par values Issue (Tax statue £/ Is shown In parentheses) - In mllllona of dollars) - (Continued) Treasury Bulletin 36 .TREASURY SURVEY OF OWSERSHIP, SEPTEMBER 30, 1950. Section II Interest-Bearing Securities Issued by Federal Agencies but not Guareinteed by the United States Government (Par values iBHue (Tax statue £/ is shown In parentheses) - In millions of dollars) December WyO 37 , MAKKET QUOTATIONS, OCTOHEK 31, 1950. Market quotations shown here are over-the-counter closing quotations in the New York market for the last trading day of the month, as reported to the Treasury by the Federal Reserve Bank of New York. listed in Section I The securities include all public marketable secu- rities issued or guaranteed by the United States Govern- ment except those not regularly quoted In the mcu-ket. The issues excluded are postal savings bonds and Federal Housing Administration debentures. The latter are Section I - the only public marketable interest-bearing guaranteed securities outstanding. Section II lists the public marketable securities issued by Federal agencies but not guaranteed by the United States Government. Daily quotations for the securities listed in Sections I and II are published monthly in the Treasury Department statement, "Prices and Yields of Public Marketable Seourltles Issued by the United States Government and by Federal Agencies". Securities Issued or Guaranteed by the United States Goveminent Table 1.- Treasury Bills (TaxableJ Aaount out- standing (HlUlOnii) Treasury Bulletin 38 MARKET QUOTATIONS, OCTOBER 31, 1950. Section I - Securities Issued or Guaranteed by the United States Goveminent Table 3.- Tax-Bxeapt Bonds i/ (Price decimals are 32ndB} Amcunt outBtandlne (Millions) Decent her 1950 39 MARKET QUOTATIONS, OCTOBEP 31, 1950. YIELDS OF TREASURY SECURITIES. OCT Based on Mean of Closing Bid 31. and Ask Quotations 1950 . . . . m treasury Ballet. 1^0 YIELDS OF TREASURY AND CORPORATE BONDS. Table 1.- Average Yields of Long-Term Bonds by Periods (Percent per annum) Partlallj- Taxable tax-exempt Treasury Treasury bonds l/ bonds 1/ Partially tax-exempt Treasury bonds 1/ Highgrade corporate bonds Annual series 1935 1936 1937 1938 19Wi-Jan Fob Mar 1.95 1.93 1.91 193'' 1.9lt calendar year averages of monthly series 2. Ill 19'i8. 19't9. 2.31 19''2. 191.6-Apr.. 2.I48 2.61. May.. June. 2.08 2.19 2.16 2.37 2.W* 2.U2 191.8- July. 2.li9 2.65 2.65 2.61 2.58 2.58 July. Aug.. Sept. 2.18 2.23 2.28 2.I1I Oct.. Not.. Dec.. 2.U5 2.W. 2.W. 2.59 2.57 2.55 Oct.. Not. Dec. 2.26 2.25 2.51 2.51 2.55 19119- Jan.. Feb.. Mar.. 2.U2 2.39 2.38 19J.7-jan.. 2.21 2.21 2.19 2.U8 Apr,. May.. June. 2.38 2.38 2.38 July. Aug.. Sept. 2.27 Oct.. Not.. 2.22 2.20 2.19 2.I19 M .1.9 Sept.... 2.lt7 Oct Not Dec 1.93 1.90 1.37 2.I18 19li5.j8n 1.81 1.75 1.70 2.U1. 1.68 1.68 2.26 2.05 2.09 1.98 1.92 19'>3. 19Wi. .U9 .1*8 2.U8 2.I18 - 2.U7 2.U8 2.2lt Feb.. Mar.. 2.58 2.56 2.51 Apr.. May.. June. 2.39 2.39 2.35 2.U9 2.53 July. Aug.. Sept. 2.25 1.68 1.68 2.3U 2.36 2.37 2.53 2.56 2.56 Oct.. Not.. 2.35 2.33 2.33 2.511 2.21 2.12 2.09 2.U3 2.36 2.38 2.U0 19l»6. 2.61i 2.U1> 2.60 averagea of dally series . 2.55 2.61 2/ 2.59 2.li6 1.62 1.56 1.51 1/ Feb Mar 2.37 2.19 2.25 3.19 3.27 3.12 1.91 Aug 19l'7. 19ltl. 1.39 1.90 1.93 . . 1.66 1/ 2.92 2.77 2.67 2.75 3.lt6 1.911 July.... Taxable Treasury bonds 1/ 1939. WltO. Monthly series Apr May June . Partially tax-exempt Treasury bonds 1/ Highgrade corporate bonds U.38 3.93 3.31 3.12 2.79 2.69 2.7U 2.6l 1933 - Taxable Treaflury bonds 1/ 2.1* 2.50 2.1.8 2.I19 2.1.9 2.UI1 2.I15 Aug.. Sept. i/ 2.U9 2.50 2.1.5 2.21. 2.22 . . . Sept. 1.63 1.63 July Aug . .. Oct Not Dec 19W-Jan Feb Mar Dec. 2.27 2.36 2.39 2.68 2.75 2.86 1950- Jan. Feb.. Mar.. 19U8-Jan.. Feb.. Mar.. 2.U5 2.U5 2. 35 2.81. Apr.. May.. a.w 2.31 Juzte. Apr. May.. June. 2.51' 2.21t 2.2li 2.51 2.51 2.57 2.Uli 2.77 2.71* 2. Ill 2.73 July. Aug.. Sept. 2.31. 2.U2 Oct.. Apr May June 2.38 Dec. 2.511 2.511 2.35 Weekly aeries 1950-May 6. 13. 20. 27. June 3. 2.30 2.30 2.31 2.31 2.57 2.57 2.57 2.58 2.31 2.32 2.32 2.3U 2.58 2.59 2.59 2.59 - 1950- July 1. 8. 2. 31. 15. 22. 29. 2.31. 2.3U 2.3U 2.3U 2'', 5. 2.31. 12. 19. Aug. 2. 31. 2.32 Dally series 1950-Oct. 2, 3. 1., 5. 6, 7. 9. 10, 11, 2.37 2.38 2.37 2.37 2.37 6/ 2.6U 2.63 2.63 2.62 2.63 2.63 2.38 2.38 2.38 2.63 2.6U 2.61. 2.2I. 2.27 2.30 2.31 2.33 2.33 2.36 aToragea of dally series for veeks ending 26. 10, 17, 2.20 2.3I1 - 2.60 2.61 2.62 2.62 2.60 1950-Sopt. Oct. 2. 9. 16. 23. 30. 2.33 2.35 2.37 2.37 2.37 7. 2.37 11.. 21. 28. 2.59 2.58 2.56 2.57 2.38 2.39 2.38 23. 2U. 25. 26. 27. 28. 2.38 2.3s 2.39 2.39 2.38 6/ 30. 31. 2.39 2.39 unweighted aTerages 1950-Oct. 12. 1950-oot. ^ 2.e 13. lU. 2.3 16. 17. 18. 19. 2.38 2.61. 2.38 2.39 2.39 2.39 6/ 2.65 2.65 2.65 20. 21. Treasury bonds lix;luded In the aTerages, beginning vlth December 1935, are those neither due nor callable for fifteen years. Prior to that time, for years shown In this table, the bonds Included were neither due nor callable for twelve years. For a discussion of the composition of these averages, see the "Treasury Bulletin" for March 191.1., page 58; for the compoeltlon of the hl^-grade corporate bond average, see the "Treasury Bulletin" for July I9I.7, page 59, and January 19115, paeo 56. Treasury bond yields are computed on the basis of the mean of closing bid and ask quotations In the over-the-counter market as reported to the Treasury by the Federal Reserve Bank of New York, beginning September 2, I9I.I, Prior to that time, yields were computed on the basis of closing prices on the New York Stock Exchange, except that on days when an Issue did not sell the yield was computed on the mean of closing bid and ask quotations on the Exchange. Corporate bond yields are computed on the basis of closing prices on the New York Stock Exchange and the New York Curb Exchange; on days when an issue does not eell, the price of the last preceding sale Is used. '6/ 1/ 2/ ^ U/ ^ 6/ 2.61. , 2.662/ 2.67 For definition of taxable and partially tax-exempt bonds, see footnotes to the "Treasury Survey of Ownership", In this Issue of the "Treasury Bulletin". The partially tax-exempt average was discontinued on December 15, 191*5, because there were no longer any bonds In this category with fifteen or more years to maturity or first call. Average revised beginning November 1, 191*1*. Old aTerage for NoTsmber 19UI. was 2.565^. ATerage reTlsed beginning April 1, I9I.7. Old aTerage for April 191.7 was 2.1.716. As of December 21, 191*9, the Consolidated Gas Electric Light and Power Company of Baltimore 2-3/l.'a of I981 were dropped from the aTerage, having been called. As of October 20, 1950, the Standard Oil Company of California 2-3/1. 's of 1965-66 were dropped from the average, having been called. Market closed. December 19^0 ki YIELDS OF TREASURY AND CORPORATE BONDS. o 00 O CM If) • 0) o z o m UJ a: o Q. a: o o >a: o> 0) ^ <<n a> UJ C rr ^ UJ CD U. o o _J UJ >UI CD < q: UJ F a o u> lO Treasury Bulletin kz INTERNAL REVENUE COLLECTIONS. Table 1.- Sumniary by Principal Sources -i^ December 1950 •^3 INTERNAL REVENUE COLLECTIONS INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES DOLLARS" "DOLLARS Billions Billions Total 1936 '38 '40 42 '44 '46 OtfiCB of the Secretory of the Treosury, Office of the Technicol Staff '48 '50 1936 '38 40 '42 '44 '46 '48 '50 :: Treasury Bulletin kk INTERNAL REVENUE COLLECTIONS. Table 2.- Detail of Collections by Type of Tax ^ (In thousands of dollars) First Fiscal year Type of tax 19U9 Incone and profits taxes: Individual Withheld by employers Other: Current 2/ Back 10,055,502 7,363,329 632,991 Total individual Income taxes Corporation: Inccmie taxes: Current 2/ Back 18,051,822 10,50U,602 ^ 838,01*2 Excess profits taxes: Declared value 2/ Eevenue Act of 191*0 hj. Army and Navy contracts ^/ 16,233 19U,U95 297 Total corporation income and profits taxes 11,553,669 Total Income and profits taxes Employment taxes: Social security taxes: Old-age insurance ttoemployment Insurance Total social security taxes Ballroad retirement Total employment taxes MlacellaneouB internal revenue: Capital stock tax 6/ Estate tax Gift tax Liquor taxes: Distilled spirits (imported, excise) Distilled eplrite (domestic, excise) Distilled eplrlta, rectification tax Wines, cordials, etc. (imported, excise) Wines, cordials, etc, (domestic, excise) Dealers in distilled spirits; rectifiers; facturers of stills (special taxes) Stamps for distilled spirits Intended for Caee atampe for distilled splrite bottled Container stamps Floor taxes Fermented malt liquors Brewers; dealers In malt liquors (special manuexport, in bond taxes). Total liquors taxes Tobacco taxes: Cigars (large) Cigars (small) Cigarettes (large) Cigarettes (small) Snuff Tobacco (chewing emd smoking) Cigarette papers and tubes Leaf dealer penalties , etc Cigarette and cigar floor taxes Total tobacco taxes Stamp taxes Bonds, issues of capital stock, deeds of conveyance , etc Transfers of capital stock and aimllar interest sales Playing cards Silver bullion sales or transfers Total stamp taxes , , , , , , , 1950 months of fiscal year 3 1950 1951 Third month of fiscal year 1950 1951 (Septemher 19^9) (September 1950) ) : December 1950 '^5 INTERNAL REVENUE COLLECTIONS. Table 2.- Detail of Collections by Type of Tax( In thouaande of dollars Fiscal year Type of Miscellaneous Internal revenue (continued): Manufacturers* excise taxes: Lubricating oils Gasoline Tires and tubes Automobile trucks and buses Other automobiles and motorcycles Parts and accessories for automobiles Electrical energy Electric, gas, and oil appliances Electric light bulbs and tubes Eadlo sets, phonographs, components, etc Phonograph records Mus leal instruments Mechanical refrigerators, air-conditioners, etc.. Matches Business and store machines Photographic apparatus Sporting goods Firearms , shells , and cartridges Pistols and revolvers ' excise taxes Petallers* excise taxes: Furs Jewelry Luggage Toilet preparations Total re tailers * First 3 monthe of fiscal year Third month of fiscal year taoc 1950 191*9 Total manufacturers (Contlnued) exc ise taxes Miscellaneous taxes Sugar Act of 1937 Telephone, telegraph, radio, end cable facilities Local telephone service Transportation of oil by pipe line Transportation of persons , etc Transportation of property Leases of safe-deposit boxes Adjnieslona 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 Oleomargarine, Including special taxes J_/ Narcotics, including marihuana and special taxes. Coconut and other vegetable oils processed National Firearms Act All other, Including repealed taxes not shown separately Total miscellaneous taxes Total miscellaneous internal revenue Total internal revenue collections Adjustment to Daily Treasury Statement Total receipts from internal revenue (Dally Treasury Statement) 81,760 503,6117 150,899 136,797 332,312 120,138 79,3't7 80,935 26,172 1(9, 160 6,U83 9,293 77,833 8,738 1950 77,610 526,732 151,795 123,630 1*52,066 88,733 85,701* 80,1*06 20,726 1*2,085 5,769 8,865 61*, 316 10,379 810 8,875 30,012 39,931 18,969 9,351 U81 1,771,533 1,836,053 33, S"*"* 1*3,11(0 19,81(6 61,91*6 '45,781 210,688 82,607 93,969 190,820 77,532 lili9,211 1*09,128 9l»,995 311,380 71,188 312,339 221*, 531 21*7,281 19,325 251,389 337,030 9,U6l 18,919 228,738 321,193 385,81.3 ''8,857 371,2'*'* 76,171* 27,790 3,805 21,088 9,55't Id, '•53 28,71*0 3,608 20,171* 21 12 17,5'tl 29,297 867 15,857 815 17,1*60 11 7 273 1.37 1,752,792 8,381,515 1*0,1*63,119 -155,331* 1*0,307,285 1951 1950 1951 (September 19U9) {September 1950) Treasury Bulletin iv6 MONETARY STATISTICS. Table 1.- Money In Circulation (In DllllonB of dollars except aa noted) Ei^ of flooal year or aonth December 1950 ^1 MONETARY STATISTICS, Table 2.- Monetary Stocks of Gold and Silver (Dollar amounta In milllone) U , , u Treasury Bulletin ks MONETARY STATISTICS. Table 4.- Conponents of Silver Monetary Stock (InKllllans of dollars) Silver held In Treasury End of oalenlar year or Mmth In General Fund Securljag ellTsr certificates 1/ SllTer bulllan 2/ Silver outside Treasuz7 surer 3u)>sldlai7 dollars coin 2/ Bnlllcn for recolBfl^ ^ dollATB 1/ Suheldiary coin i/ 69..7 "•,207.3 771.6 8k6.7 901.1 928.7 3,870.6 3,512.8 971.5 982.2 3,596.7 9">."> 165.0 171.0 13.0 15.0 15.7 93.5 93.8 9^.1 171.0 171.1 171.2 982. 982, 983. 3,61*5.8 321.6 320.9 319.8 15.7 97.1 96.9 97.6 171.2 171.7 172.7 98^. 986. 3,66o.li 10. 991.2 3,666.1 3,671.5 2,026.7 2,029.7 2,032.8 318.8 317.5 316 .* 8.3 10.3 8.9 98.2 98.0 97.5 173.7 175.0 176.6 993.8 996.* 1,002.6 3,676.3 3,680.9 3,685.8 2,036.0 315.9 5.8 97.9 176.7 1,008. 3,692.5 19*8 19*9 1,971.5 2,003.2 328.1 321.9 5.9 March 2,006.5 2,008.3 2,010.9 321.8 321.8 321.7 April Kay June 2,013.U 2,018.9 2,022.8 July August. ... September. October p. 1950- January,. ?ebruary,, surer at cost 3/ 96.8 117.5 137.5 150.1 156.3 Ik.k 12.5 10.2 lU.O li.1 1,520.0 1,520.1 1,703.9 1,911.2 1,937.6 ItOO.U 19** WliS 19"^ 19*7 19''3 BuUlcn Total silver ht 1.29+ per fine ounce 376.5 356.1. 3''3.1' 337.2 19.1 551.8 .1 185.6 93.1 91.1 "105.6 89.3 lli.S Source; Circulation dtatanent of U. S. Money; Dally Treasury Stateaent for certain preliminary figures. 1/ Valued at $1,29+ per fine ounce, 2/ Includes silver held by certain agencies of the Federal Govemnent (see Dally Treasury Statement for amount). Does not Include silver lendleased to foreign govemaents (these transactions all took place during the fiscal years 19U2 through 191*6; see 191*6 Annual Report of the 2j U/ p • 3,51't.2 3,5''7.9 3,61>3.1 3,6U9.2 3,652.9 Secretary of the Treaaul? for amouats). Valued at $1.38+ per fine ounce. Valued at $1.38+ per fine ounce or at $1.29+ per fine ounce according to whether the bullion le held for recolnage of subsidiary silver coins or for recolnage of standard silver dollars, Preliminary, Less than $50,000. Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Offices^ (In inn.T1nns of ounces or dollars) Calendar year or month Silver production in IMited States Silver aoioisltions by mints and assay offices Ifevly mined dconeetlc Foreign sllvsr liver 2/ ^ 191*3 1*0.8 35.7 5.5 • 3.9 • 5.5 I9W* 191*5 29.3 .9 .6 .9 ig"** 19'*7 21,1* 1*.9 36,1 30.3 19"*8 36,1 191*9 3l*,6 36.8 33.0 33.3 29.9 3.0 2.5 3.7 2.0 2.6 2.8 1.8 2.U 2.5 1*.2 6.3 5.2 l*.l* 1*.0 June ..,,,, 3.9 2.7 1*.2 3.8 July l*.l 3.7 3.6 3.5 3.3 3.2 3.2 1950- January... Fsbruary.. March April May August. , September. . 3.7 1*.2 l*.l* V 27.1* y 3.9 1*.9 , 30.3 it/ December 19 "yO 49 MONETARY STATISTICS. Table 6.- Seigniorage on Sliver (CuMulatlTe fron January 1, 1935 End of calendar year or aonth - In mlUlans of dollare) . . Treasury Bulletin 50 CAPITAL MOVEMENTS Data relating to olf.lms on foreigners and liabili- ties to forelgnere, anfl capital movemente between the United States and foreign countries, have been collected the data for January I95O. Attention Is called to the fact that although the grand total figures on the revised since 1935, pursuant to Executive Order 6560 of January I5, reporting basis are reasonably comparable with those for preceding months, data for individual countries in some ai'3 Treasury regulations thereunder. Information covering the principal types of data and the principal Instances are not comparable because of certain changes In coverage and geographical classification. 193'*. countries Is reported each month by banks and bankers and This The supplementary Information, contained in Section IV, Information Is published regularly In the "Treasury Is presented In three tables appearing at different times. securities brokers and dealers In the United States. Supplementary Information la published at less Bulletin". frequent Intervals. Table 1 gives data by countries on short-term claims on and liabilities to foreigners as reported quarterly by exporters, All reports are made Initially to the Federal Reserve Banks, which forward consolidated figures importers, and Industrial and commercial concerns In the to the Treasury. United States. This Information was published for the first time in the October 1949 Issue of the "Treasury Bulletin" citizens) domiciled outside the United States, as well as and begins with data for September 30, 1946. Table 2 supplies Information by countries on long-term claims on and liabilities to foreigners as reported by banks and International organizations, wherever domiciled, created by bankers in the United States. The term "foreigners" as used In these reports covers all Institutions and Individuals (Including United States This table appeared for the treaty or convention between sovereign states. "Short-term" first time In the December 1949 Issue. refers to original maturities of one year or less, and end of the calendar year beginning with 1942. "long-term" refers to all other maturities. A detailed Data are for the Table 3 gives Information on short-term liabilities to countries basis of reporting, not regularly reported separately by banks and bankers. and derivation of capital movements figures appeared In This table appeared for the first time In the April I95O the April 1950 Issue of the "Treasury Bulletin", pages 50-52. Issue. The data have been requested at Irregular Intervals, Revised report forms and regulations became effective ulth the earliest date being October I943. discussion of the reporting coverage, Section I - Historical Summary Table 1.- Net Capital Moyement between the United States and Foreign Countries (In thouBande of dollare; negative flgurea Indicate a net outflow of capital from the United States) Analysle of not capital moremont Calendar year or month Transactions In domestic securities in: Transactions in foreign securities Net capital moTenent Short-term banking funds Brokerage balances 1935-lH 5,35'>,071 3,770,922 100,870 626,731 855,548 19U2 19'>3 626,121 1,286,893 583,373 1,168,058 19Ult U6l,35li lli8,59lt W"*? 1,074,375 1,216,303 3,513 13,372 8,529 17,794 46,599 27,767 210,735 -113,105 -7,364 77,696 93,496 -46,617 19U6 -793,324 334,163 £25,417 194, U58 -733,909 395,524 531,777 9,661 -11,318 -19,313 610 -334,203 -89,055 -192,215 75,203 265,127 39,012 -94,832 27,800 10O,li27 201,949 -692 -198 7,190 5,330 46,282 69,195 559 -5,364 -2,059 -2,464 -273 -1,172 45,164 35,157 78,826 91,267 135,346 34,915 19117 19't8 IS'i? 1950- January. ... February ... March 228,503 60,742 r April Hay June,, 222,727 191,394 219,221 r July August p. September 1/ 90,8li5 . . p. See Table 2, footnote 1. 76,161* 30,701 181,940 136,981 94,060 r 23,884 226,618 r 1/ U74;o88 111,354 308,350 r 332,929 p r Preliminary, Revised -106,160 106,255 -46,344 r -4,936 24,620 48,394 -1,333 -53,341 -174,902 . . ,, .. . December 1950 51 CAPITAL MOVEMENTS. Section I - Historical Summary Table 2.- Short-Term Claims on and Liabilities to Foreigners (Position at end of period In thoueande of dollars) Short-term claims on foreigners Payahlo In End of calendar Tear or month forel^ currencies igus 2U6,673 257,929 3S9,69U 392,766 708,253 98,119 9''8,936 165,'»39 1,018,700 827,854 100,371 . 72li,826 . 670,618 87,230 82,019 61t8,72't 81t,790 6311,806 81,071 86,385 igiis ig't'i WliS 19lt6 igitT igitS is'o 1950-january. . February , March April May 30,916 3'', 387 5U,603 July August p. . September p, 72,0ltB foreign currencies l't3,709 137,l6li 11,205,389 5,3711,903 3,523,328 169,670 11,356,501 2lt5,010 5,596,775 6,883,068 U, 9116,6211 668,168 1,222,580 1,218,633 1,910,898 290,1(95 6,1180,262 11,693,911 292,866 361,197 222,719 1190,631 7,ll6,ltl9 557,132 llli,li7li 113,115 122,018 86,378 105, Uai 100,267 319,639 !i, 1311,1*12 Ret Payable In Deposits of foreigners Loans to foreign hanks 13,893 17,911 short- term liabilities 3,958,716 5,u6,97li 5,267,081 6,li90,302 1,7115,722 U,809,2li5 2,257,510 li9,661i 6,167,1183 7,717,960 7,617,959 5,209,820 5,073,586 2,1.37,751 2,1.93,331. 70,389 51,039 6,699,260 6,790,105 523,122 7,723,001 5,122,li00 7,7lil»,957 5,131,066 2,553,036 2,567,88U 1.7,515 1.6,007 6,998,175 475,li81i lilil,9l6 7,753,7611 It, 859,71111 2, Sill, 71.2 52,278 12ll,298 Ii29,li37 M 113,331 128,378 l|07,591 U21,70lir 7,921,786 8,031,268 8,175,271 5,052,025 5,110,129 5,293, lllO 2,815,082 2,866,233 2,831,639 511,679 511,906 50,li92 116,597 120,U9l» 1*32,837 8,211,833 127, Bill 109,972 1*511, li76r 8,li56,291r 211,250 107,9Ult 1137,660 8,99li,9ltli 2,92ll,227 5,232,0110 5,2li9,329 1/ 3,152,153 l/r 5,li91,017 3,1.51,31.1. U0,80U 107, 669,928 692,289r 756,851. 1*911,331 Beginning In August data Include for the first time certain deposit balances and other assets which had been hold In specific trust accoxints but which had been previously excluded from reported liabilities. 1/ Payable In dollars Payable In dollars 21,61ll 25,51.6 110,629 l»7,l489 607,307 <57,250 r June Short-t«rm llahllltles to foreigners 5,772,009 7,0711,339 7,105,0110 7,286,980 7,1.23,961 7, 518,02 Ir 55,566 7,51*1,905 511,809 7,761*, 002r 52,583 8,238,090 Preliminary, Bevised. Table 3.- Net Movement of Siort-Term Banking Funds (In thousands of dollars; negative figures Indicate a net outflow of capital from the United States) Short-term claljns Calendar year or month Payable Short-term liabilities Payable In dollars Payable In dollars in foreign currencies 307,187 15,933 I9I.5 736,307 97,503 -11,256 -71,765 -63,072 I9I.6 -315,1.87 I9I.7 -2U0,683 1935-1.1 191.2 191*3 I9IA 191*9 1950- January, 6,li09 20,671 of foreigners U22,711 60,899 3,03l.,6l5 1185,870 1,179,311. -20,216 -111,330 -19,Oli3 -32,506 7,llli 5,1511 -75,31.0 220,359 1,279,375 -50,630 -67,320 65,068 -219,372 26,773 -68,331 -10,li33 -3,1.71 -69,761. 190,81i6 191*8 Deposits Loans to foreign banks 6,51.5 -1.5,1.85 -1.18, U22 636,207 138,1178 -200,136 -66,501 62,801 -100,001 601,51.1 266,156 385,365 551., 1.12 -3,91.7 692,265 -268,851. 115,381. 1«X3,575 -136,231. -1611,651 511,788 I80,2lll 55,583 -37,51.2 -5,102 It, 018 3,730 3,905 funds 3,770,922 583,373 1,168,058 11.8,5911 1,216,303 15,083 9,035 20,725 -19,350 -733,909 201,9119 76,l6li 395,5211 531,777 90,81i5 96,907 April May June 102,12li -28,791 105,01.2 1.8,811. 1,359 -8,903 1.7,638 21,956 8,807 8,666 -271,322 59,752 lit, 798 273,858 -3,52li 5,211 -2,771 13,918 , 23,571. 511,208 21,8911 . , February . March 3,719 12,1.79 21,81.6 168,022 -26,660 51,151 181,9110 109,1.82 192,281 58,10U 2,li01 -5,311* -2,280 10,967 227 136,981 -20,789 -15,0lil -lU,113r Ul.,003 183, OU -311,551. -lt,ltll; -9,li23 7,878 15,022 2,028 92,588 5,071. 27,1.90 -1*9,91*3 July Augus t p September p . r -12,67" -lU,lil7 r -611,565 . -10,225 -83,1109 33,568 -11,133 -19,211tr 16,816 2l*l,035r -61,100 13,0561/ 221,907i/>' 538,653 21.1,688 299,191 36,562 _L 1/ 2,806,001 105,607 620, 88U 220,576 583,205 Payable in foreign currencies Net movement of short-term banking See Table 2, footnote 1. p r Prelljttinary. Revised -1,508 6,271 6,072 -2,226 30,701 911,06 Or 23,881* 226,6l8r 11711,088 , . r . Treasury Bulletin CAPITAL MOVEMENTS Section I - Historical Summary Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners (In thousandB of dollars; negative flguree indicate a net outflow of capital from the United States) Dameetlc bonds Dameetlc atocke Calendar year or month Purchases S£LLes Net purchases Purchases Total purchases Sales 191>>A U30,21i5 1/ 8lil,6l0 1/ 75, '•88 19lt,6l6 -'•2,977 21.1,299 19Wi igu? 96,383 151,639 136,853 260,223 396,768 1/ 161., 218 '•92, '•20 19"^ 171, '•32 -3'', 579 2li5,311i 357,655 -97, '132 513,558 377,717 170,555 268, 2'A 393,390 19'»6 367,6119 U32,109 -6li,'i6o 1.11., '.70 681i,213 -269,7113 WkT 226,089 369,736 376,67l< -150,585 igue 511»,059 -lUli,323 19l>9 35'»,085 375,303 -21,218 3'4.,805 28e,lil5 '•30,013 283 ,275 330,307 333,592 -117,892 96,1121 78'^,098 , 51., 632 52,386 17,667 3,08U 1»1,729 '•9,877 2,2lt6 -8,11.8 20,751 . 77, '•7'^ 23,Olili 5't,'i30 55,668 59,226 -3,558 no, '•52 37,699 72,753 79,770 56,3U8 117,082 3li,28U U5,li86 26,183 30,165 75,055 19't3 1950- January. . February. March 20,895 '•8,773 J\ine Julj August p. September p '•9,095 -322 62,698 65,175 April May 57,706 '•,992 6l,kOli 3,771 -265 -5,987 2, 106 51,585 51,850 113,680 5'^,667 52,265 . 1/ -'111,365 1/ 50,159 117,836 161,882 7'»,9'H Total sales Net purchases 1/ 138, 51'^ ll2,027 -95,65a 1/ 25, 7^ 70,7lili -15,673 61,530 26,30li 91,532 20,51*9 '.2,132 11.1,333 32,809 9,322,066 260,601 392,938 8,695,335 650,1111 637,91*0 Net purchases of domestic securities 626,731 2lll,00S '•6,599 365,171 1139,676 751,0'^5 27,767 210,735 -113,105 782,119 570, 89'^ 1,116,322 -33'^,203 659,9'*9 652,151 81.1., 366 708,895 -89,055 -192,215 75,203 75,383 119,203 166,120 70,053 72,921 96,925 5,330 U6,282 69,195 128,5'^3 119,0'^6 83,379 83,889 182,257 103A31 169, U21 210,562 127,206 78,151. 91,267 75,216 92,291 135,3116 3'',915 U5,l61i ' 35,157 78,826 January U, 19110, through December 31, 19111; the breaicdown between stoclcB and bonds la not available for earlier years. Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners (In thousands of dollars; negative figures indicate a net outflow of capital f^om the United States) Foreign stocks Calendar year or month Foreign bonds Net purchase 1935-lil n.a. 19'^2 Wl^S n.a, «'•'• 19l^5 23,278 26,601 37,328 19,791 22,078 5'*, 789 Wlte 65,2't7 65,610 iq'^7 19l^8 57,118 81,715 88,815 1*2,558 96,7101 19'^9 1950- January February. March 70,788 3,1.87 '.,523 -17,1.61 -363 Total sales Net purchases of foreign securities U,008,lB8 220,533 3,152,6W 855,51.8 227,897 711,209 1169,6115 391,9'^9 2'^7,367 '•02,058 -7,36U 77,696 3Uo,863 821,183 715,859 293,336 Net purchase n.a. n.a. n.a. n.a. 3111,262 372,158 225,289 318,113 31.7,269 88,973 -29,156 li90,U1.6 265,1190 1*116,367 755,936 658, 7UI 63U,289 2li,li52 -15,029 18,027 211,621 291,l.2li 321,2113 311, U70 -79,803 9,773 12li,li27 l'.,56o Total purchases 355, '•'•I 1110,058 93, '•96 -'•6,617 556,056 676,8U7 388,168 382,258 265,127 39,012 135,882 39,703 110,276 -106,160 106,255 -li6,3Ur -911,832 27,800 12,589 13,986 11,1155 1,131* 5,lli7 17,133 131,972 -107,2911 29,722 8,839 30,86li 101,108 l'i5,958 13,58l^ 13,291* 290 50,3118 96,982r -1.6,6311 63,932 April May June 13,639 Ik, 299 15,65! 13,882 12,283 16,771 -2'i3 2,016 -1,120 25,193 IA,U32 76,876 29,886 21,828 27,362 -11,693 22,60l4 38,832 58,731 92,527 '13,768 311,111 -11,936 2li,620 1^,133 li8,39'^ July August p. September p 11,729 U,'*87 12,911 2U2 22,108 35,170 -1,333 235 13,1.07 79,8911 -53,3l^l 35,'i36 31,6'.5 -1,575 -53,576 -157,568 33,837 26,553 -17,33lt 23,683 66,983 189,213 li9,7'^7 22l.,61i9 -1711,902 . . , . , Not available. Preliminary. 13,11*6 18,102 '•9,511^ December 19 "yO 53 CAPITAL UOVGUENTS Section II - Sunmary by Countries Table 1.- Net Movement of Capital and of Short-Term Banking Funds (In thousande of dollan; negatlTB flgupoe Indloata a net outflow of capital fpoB th» United Statea) Country ) Treasury Bulletin 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 Stat«e or net sales by foreigners CouniaTT December \950 55 CAPITAL UOVEMENTS Section II - Summary by Countries Table 3.- Short-Term Claims on and Liabilities to Foreigners (Foeltlon at end of month In thousands of dollars) Country Treasury Bulletin 56 .CAPITAL MOVEMENTS. Section II - Smnmary by Countries Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts December \9'yO 57 CAPITAL MOVEMENTS Section III - Details for Month of July 1950 Table 1.- Ghort-Term Claims on Foreigners (Posltlcn at end of nonth In thousasda of dollarv) Country 1/ Beginning with March 191(7, Includoe balancee In accounts opened by occupation authorities for foreign trade purposes. Treasury Bulletin 5fS CAPITAL MOVEMENTS Section III - Details for Month of July 1950 Table 2.- Short-Term Liabilities to Foreigners (Poeltlon at end of nonth In tbouaaDda of dollars) Co<mti7 1/ Beglimlng with March 191*7, Includes bolancee In accounts opened by occupation authorities for foreign trade purposes. ) December 1950 59 CAPITAL MOVEMENTS Section III - Details for Month of July 1950 Table 3.- Purchases and Sales of Lons-Term Securities by Foreigners ( Country In thousande of dollars Treasury Bulletin 60 CAPITAL MOVEMENTS Section III A - Preliminary Details for Month of September 1950 Table 1.- Short-Term Claims on Foreigners (Poelticn at ond of nooith In thouflasda of dollArs) 1/ Beginning with March 191*7, Incl'jdea balances In accounts opened by occupation authorities for foreign trade purposes. December \950 61 CAPITAL MOVEMENTS Section III A - Preliminary DetallB for Month of September 1950 Table 2.- Short-Term Liabilities to Foreigners 62 Treasury Bulletin CAPITAL MOVEMENTS Section III A - Preliminary Details for Month of September 1950 Table 3.- Purchases and Sales of Long-Term Securities by Foreigners , . . , , December 1950 63 CAPITAL UOVEIIENTS Section T - 6ui>pleiiientary Data by Countries Table 2. - Long-Tera^ CI a Ins on and Liabilities to Foreigners Reported by Banks and Bankers (Poeltlon at end of caloDdar year In thousanda of dollars) ClaljBB on forelgnere Llalillltlee to forel^^nere Country I9I17 igW Europe; United ElngdoB. France Belgium 7,550 Denmark Finland Oernmany 2j ,,,,. 36,257 , , , Nomay , Portugal 1,6511 27,1156 9,688 20,Wl7 U,985 Netherlands . 16,600 7,617 3,795 Greece Italy Luxembourg 15,000 2,012 11,985 , Rumania Spain SVBden 506 Switzerland. D. S. S. B... YugoBlavla. Other Europe, 17,050 1U,863 Total Europe. 113,561 90,916 Canada 10,li08 10, IW Latin America: Argentina. Bolivia Bralll 2,010 5,007 27,676 2,010 . ChUe Columbia. .. Costa Blca. Cuba French West Indies and Guiana. Mexico 5,7113 10,639 •,330 3,900 Netherlands West Indies and Surinam. Panama .............................. Peru 23,196 Venezuela Other Latin America. 2 10,353 Total Latin America. 92,856 Aflla: China and Manchuria, French Indo-Chlna. . Hong Eong 5,20U India British Malaya. Japan Nether lanls East Indies. Philippine Islands Turkey Other Asia 2/ Total Asia 51 5,255 Other countries: Australia New Zealand Egypt and Anglo-Egyptian Sudan. French Morocco Onion of South Africa All other Total other countries, Onldentlfled Grand total L 222,080 lt,000 19,580 191*9 191.7 19U8 19U9 : . 61 Treasury Bulletin CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. published In this Issue of the Tables 3 ''"^ "Treasury Bulletin", are compiled from reports of the agencies, adjusted by the Treasury Department. Tables 1 and 2, giving the corresponding loan and balance sheet data, were published In the November 195^ Issue. Data relating to corporations In which the United States Oovernment haa a proprietary Interest, direct or Indirect, and to certain other business-type activities ''•i of the United States Govemment are presented In a series of four tables. Table 3. - Income and Expense for the Twelve Months Ended June 30, 1950 (In thouaemde of dollars) Corporat.LOns Grand total Income Sale of coimnodltles and auppliee Sale of services Rents and royalties Interest and dividends: Interest on loans Interest on public debt obligations Interest, other Dividends Guaranty and Insurance premiums Other Income: Gains on sale of fixed assets Gains on sale of Investaaents Gains on sale of acquii^3d security or collateral Other ,6311,677 a,36it 82,659 Totta corporations Banks for cooporatlvae Commodity Crodlt Corporation ExportImport Bank of Washington Federal Farm Mortgage Corporation 1,987 26,527 300 3,01*0 Federal loan banks 1,237,017 1,616, 191* 82,585 8,563 3,706 62,516 80,275 187,196 kO,285 17,380 llt,70l4 12,9li5 223,51^ ll>l,005 7,219 1,150 226 168 1,150 206 2115 37,l«58 36,91*11 1.8 11,215 15 2,511,79s Total income Federal Deposit Insurance Corporation 2,llil.,622 10,003 1,256,275 62,531 360,5117 liU,968 Expense; Cost of commodities and supplies sold 1,857,192 Direct operating costs 97,31*5 Interest expense: 101,21*7 On borrowings from the U. 3. Treasury Other 36,278 Administrative expenses 11*0,671 Depreciation (not included in cost of sales or direc t operating costs) 15,39'* Grants, subeidies^and contributions: 22,1*12 Direct Indirect Guaranty and insurance losses 15,709 U8,6l6 Other expenses Losses and charge-offs: Loans charged off 35,21"* Other assets charged off 7,863 Losses on sale of fixed assets 65,376 11* Losses on sale of investments Losses on sale of acquired security or collateral 3, 1*61 Direct charges to operating reserves 332 128 Other T,''''3 998 11 592 7,31*0 5,771 1*3 120,Ult9 7 1*56 « 189 30 7 1U9,302 3,259 13,617 37 6,1*11* 1,1*21 6,236 1,326 10 183 515 l,l*9l.,25l* 1,81*2,535 5'*,5'*1 77,588 35,761 73,531 32,557 1/ 12,578 123 15,283 865 7,691* 289 6 12,360 113 1,758 1,758 15,709 36,156 7,8 11* 1,069 301* 1,733 811 87 13,51*9 lU 532 30 2,1*1*7,251 Total expense. Net income , or loss ( - ) , before adjustment of valuation and operating reserves 553 332 30 2,172,897 3,551* 1,550,889 13,1*62 8,025 l,6Ul 8,085 61.,5U1 -28,275 6,1*5U -29lt,6l5 1*9,068 11*1,277 1,618 5,532 200,083 60,121* 1,313 61., 1*80 1,132 1,757 -1,981* -1,833 -113 -6 MJustzpents of valuation and operating reserves: Beserve for losses Reserve for losses collateral Beserve for losses Beserve for losses Operating reserves Other reserves on loans on acquired security or -11,1*27 on fixed assets on commodities and suppllee. -6,795 -38 -373,11*8 -373,11*8 1 -267 -59,983 -373,11*8 -2I*,U38 -21*, 1*79 Net income, or lose (-). -251,538 -339,521* -51*3 -333,107 21 1,019 1,750 -186,997 Net adjustment of valuation and operating reserves -367,799 5,912 -627,721 1.9,090 11*2,296 3,368 5,532 -71*, 010 28,1*35 -170,515 62,661 8,957 -186,997 -367,799 3,368 -206,21*3 5,912 -1,828 -627,721 -206,21*3 5,532 -1,883 1,1*56 1,1*56 -17,000 -3,1*27 Changes in unreserved earned surplus or deficit: Unreserved earned surplus, or deficit (-), June 30, 191*9 Net Income, or loss (-), for the twelve months ended June 30, 1950 Transfers to (-) surplus reserves Transfers from surplus reserves Distribution of profits: To General Fund revenues - deposit of earnings.. Dividends Other Prior year adjuslzents Unreserved earned surplus, or deficit (-), June 30, 1950 Footnotes at end of Table 1*. •3,01*0,879 r -122,385 -52,558 56,351* -52,558 6,221 75,817 3,555,331* -617,116 -i*,oei 1*9,090 -1*8, W*8 11*2,296 -11*2,863 -108 1*91 -61*2 32,519 -798,236 (Continued on following page) 77 '>9.0g9 9.071 : : ) . ' ) December 1950 65 CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Table 3. - Income and Expense for the Twelve Months Bnded June 30, 1950 (Continued) (In thousands of dollars) Corporations Federal Intermad late credit banks Federal Savings Eind Loan Insurance Corporation Home Ownera Loan Corporation (in liquidation) - (continued) Reconstruction Finance Corporation 3/ Production credit corporations Public Housing AdminlBt ration 2/ Exclusive of assets held for the Assets held for the U. S. Treasury u. s. Tenneeeee Vallej Authority Other 2/ Treasury Income Sale of commodltlee and supplies Sale of services Bents and royalties Interest and dividends Interee t on loans Interest on public debt obligations Interest, other Dividends Guaranty and Insurance premlumfl Other Income: Gains on sale of fixed assets Gains on sale of Invostmonta Gains on sale of acquired security or collateral 31U,089 3,355 11,176 1,11.6 U,(?1U 9,827 90 7,681 19 32,51.1 I 7,923 Net Inccme, or loss (-), before adjustment of valuation and operating reserves 353 ll,li7li 112 1.9 229 £19 U 1,593 73 12,7'»2 U,590 8,650 9,l6li 2,508 3,522 72,958 85 1,2U8 328,382 76,2711 122,753 2,000 6/ 6,3''l 556 22,6lli 6,285 16,392 8,ll»g 2,036 1 1,339 938 h 1,603 15,363 12,273 2,707 11,578 3,1*73 6,652 259 39,li57 23,liOli 1,211 11,102 601. U 1,357 15,820 30,li71 293,003 665 398 It ,697 15,610 99 11 66 2hk 61 1,2311 12,190 3,757 l.,735 3li5 609 12,987 113 556 -9 332 30 9,759 Total expense 1.7,1,311 7ltli 12,905 1,158 9 9 Expense: Cost of commodities and supplies sold Direct operating costs Interest expense: On borrowing from the U, S, Treasury Other Administrative expenses Depreciation (not Included in cost of sales or direct operating costs Grants, subsidies, and contributions: Direct Indirect Guaranty and Insurance losses Other expenses Losses and charce-offs: Loans charged off Other assets charged off Losses on sale of fixed assets Losses on sale of Investaoents Losses on sale of acquired security or collateral Direct charges to operating reserves Other 31.1 311,920 15,32l> 12,563 OtJjer Total Income 26,976 Ii83 938 12 31 17,655 55,609 1<,3B5 2,718 2,688 1,588 23,11811 lill,3li2 3211,265 2,801) 10,02ll 8,902 -339 -12,363 28,6lf U,117 -66 60,298 118,100 -8,521. 15,976 2/ l',653 Adjustments of valuation and operating reserves: Reserve for losses Reserve for loseee collateral Reserve for losses Reserve for losses Operating reserves Other reserves 15 on loans on acquired security or -32 -38 , . on fixed assets on commodities and supplies.... -20 -10 -32 -1'5 -8,521. 9,992 8,908 -339 -12,1.08 20,092 l.,117 25,269 1,1.68 17,11.1 -61., 357 250,000 -51,673 2,805 -1,230 9,992 -9,992 8,908 -339 -12,U08 20,092 l.,117 Net adjustment of valuation and operatlr^g reserves 2,805 Net Inccme, or lose (-) 15,976 1/ l.,582 Changes In unreeerved earned surplus or deficit: Unreserved earned surplus, or deficit (-), June 30, I9I19 Net Income, or loss (-), for the twelve months ended Juno 30, 1950 Transfers to (-) surplus reserves Trans f era from surplus reserves Distribution of profits; To General Fund revenues - deposit of earnings.. Dividends Other Prior year ad Justmsnts Unreserved earned surplus, or deficit (-), h . 15,976 1/ -196,225 11,502 eE6 630 -20,732 -11,1.00 39I1 1,082 2,510 ?6,li50 June 30, 1950 Footnotes at end of Table ll.,3S9 12,887 ( 16,801 -75,631. 250,000 6,233 , 72,977 8/ -187 Continued on f olloving page -1.7,556 ;o,805 -123,203 ) Treasury Bulletin 66 CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIESTable 3. - Income and Expense for the Twelve Months Ehded June 30, 1050 (Continued) (In thouaands of dollars) Certain other bueinese-typo actlvltloB Total certain other bualnesB- FaTDBre* Eome type tratlon actlTltlea 2/ Ajdmlnls- DlsajBter Loane, etc., Bevolvlng Fund (FarmerB' Eome Administration Putllc Federal Houfilng Administration Federal Works Agency 10/ December 1950 67 CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Table 4. Source and Application of Funds for the Twelve Months Ended June 30, 1950 (In thouaande of dollara) Treasury Bulletin 68 . CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Table 4.- Source and Application of Funds for the Twelve Months Ended June 30,1050 (Contlnuedl December 1950 69 CORPORATIONS AND CERTAIN OTHKR BUSINESS-TYPE ACTIVITIES. Table 4. - Source and Application of Funds for the Twelve Months aided June 30, 1950 (Continued) . . Treasury Bulletin 70 CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Footnotes for Tables 3 and 4 (June 30, 1950) 1/ 3/ ^ U/ 5/ 6/ 2/ 8/ iBoludes $2,000 tbouBond Interest paid on capital stock. Ropreeenta activities under the U. S. Housing Act as amended. War housing and other operations of the Administration are shown under "Certain other huslness-type activities". Includes morgod war affiliates, the last of which to be merged waa U. S. CoBBnerclal Canpany, which was dissolved In fiscal year 191*8. Represents assets hold for the Treasury In accordance with provlslone of Act of June 30, 19U6 (62 Stat. U87-II88), which provided for cancellation of P. F. C. notes In the aaount of $9,313,736 thousand, plus Interest accrued thereon subsequent to June 30, 19U7, representing unrecovered costs to the Corporation as of June 30, I9U7, In Its national defense, war, and reconversion activities, f\T] A stipulated that any amounts recovered by the Corporation with respect to these activities subsequent to June 30, I9U7, shoiad, after deduction of related expenses, be deposited In the U. S. Troaevury as ailscellaneous receipts. Consists of Defense Homos Corporation (in liquidation); Federal Crop Insurance Corporation; Federal National Mortgage Association; Federal Prison Industries, Inc.; Inland Waterways Corporation; Institute of Inter- American Affaire; Institute of Inter-American Transportation (liquidated); Panama Railroad Company; Smaller War Plants Corporation (in liquidation); The Virgin Islands Corporation; and War Damage Corporation (in liquidation). Represents payment of Interest In lieu of dividends on capital stock outstanding during the fiscal year 1950. Represents net Inccane during the fiscal year 1950 from power operations Includes cancellation of Federal Crop Insurance Corporatlcai capital stock held by the U, S. Treasury In the amount of $73,000 thousand as authorised by Public Law 268, Slst Congress, approved August 25, 19»*9. 2/ Beorganlratlon Plan No- 21, effective May 2U, I95O, abolished the U, 3. Maritime Coonalselon and provided for Its functions tc be performed by a Federal Maritime Board and a Maritime Administration In the Depar^Dsnt of Consoerce. Current data on maritime activities 10/ 11/ 12/ 13/ lU/ will be published whan available, Consists of CcBBmnlty Facilities Service and Public Works Administration (in liquidation). Figures for Ccommnlty Facilities Service are as of May 23, 1950, at *rtilch tlao this activity was transferred to Housing and Hcbbo Finance Agency, pursuant to Reorganleatlon Plan Ho. 17 of 1950. Consists of Fana Security Administration lO'ogram, hemes conversion piH^gram, public war housing program, and veterans* re-use housing program. Consists of Agricultural Marketing Act Revolving Fund; Federal Security Agency -- loans to etudonte; Departanent of the Interior -Indian loans and Puerto Rico Reconstruction Administration; Department of the Army -- guaranteed loans (World War H) and Natural Fibers Revolving Fund; Departanent of the Navy -- guaranteed loans (World War II) and sale of surplus supplies (World War I); Housing and Bcane Finance Agency, Office of Administrator -• Alaska Housing Program and Slum Clearance Program; Treasury Department -- miscellaneous loans and certain other assets; Veterans' Canteen Service; and guaranteed loans to veterans Represents transfer from Title I Insurance Revolving Fund to establish Title I Housing Insurance Fund. Represents purchase and eichange of coanaodltles and other related Items, 15/ 16/ 17/ 18/ 19/ 20/ • r Excludes cash exchangee of notes amounting to $3,172,000 thousand. Represents sales and exchange of ccnnmodltles. The net change In working capital and deferred Items Is a decrease of $ii8,302 thousand; however, to conform to the presentation required In the report sent to the Bureau of the Budget, cash with U.S. Treasurer has been reflected hare as a separate Item. Includes renewals. Includes net repayments for allocations to Secretary of State. Includes $l62,Ullt thousand advanced to Econcsoic Cooperation Administration, which agency is not required to report, Lees than $500. Revised. . December 1950 71 CUMULATIVE TABLE OF CONTENTS. January 1950 through December 1950 iBBue and page nxmber 1950 Jan, F9t). Mar, Maj June 8 Apr. 8 8 9 July Aug Sept, ArtlcleB: Treasury financing operatlona Summary of Federal fleeal operatlone, Budget receipts and exp enditures: Receipts by principal sources Eipendltures by major claaeif icatlons Expenditures for national defense and related activities Expenditures for international finance and aid "Other" expenditures ., Sunnnary by months and calendar years •,.,.. Social Security Act , Railroad Retirement Act Railroad Unsmployiosnt Insurance Act , , , , , Trust accounts, etc.: - Summary of receipts and expenditures of all trust accounts , etc Receipts by principal accounts Investanents by principal accounts Expenditures other than Inveatmente by principal accounts. Federal Old-Age and Survivors Insurance Trust Fund Railroad Retirement Account Unemployment Trust Fund National Service Life Insurance Fund 8 8 9 9 10 10 11 11 9 9 10 10 12 12 13 13 lU lU 12 12 13 13 lU n 11 8 9 9 9 10 10 11 11 9 10 10 11 u 9 10 10 11 11 9 9 10 10 11 11 9 9 10 10 11 11 9 9 10 10 11 11 9 9 10 10 11 11 12 12 13 13 lU lU 12 12 13 13 lU lU 12 12 13 13 lU lU 9 9 10 10 11 11 Treasury caeh Income and outgo: Summary of Derivation Derivation Derivation Derivation Summary of cash transactions of cash budget receipts ,., of cash budget expenditures , of cash trust account transactions , of caeh borrowing or repayment of borroving , cash operating Income and outgo by months 12 12 13 13 lU 12 12 13 13 111 II* lU 12 12 13 13 lU lU 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 16 16 17 17 18 18 16 16 17 17 16 16 17 17 16 16 17 16 16 17 17 16 16 17 17 16 16 17 17 16 16 18 18 16 16 17 17 18 18 19 19 19 , , 12 12 13 13 lU lU H Seneral Fund of the Treasury; General Fund Analysis of change In balance in the General Fund StatTie of the Debt outstanding; 18 18 16 16 17 17 18 18 17 18 18 18 18 18 18 18 18 17 17 18 18 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 20 20 21 23 21 21 23 21 21 21 21 21 23 23 23 21 23 21 23 23 23 2l» Summary of Federal seoorltles Net change in Federal securities Interes t- bearing public debt Net change in Interest-bearing public debt ,,,. Interest-bearing guaranteed securities Special lesuee to U. S, Government Investanent accounts.... Computed Interest cha3*ge and computed Interest rate on Federal eecurltles Treasury holdings of securities Issued by corporations and certain other business-type activities of the U, S, Government 21* 25 25 19 Statutory debt limitation: Status under limitation Application of limitation to public debt and guaranteed securities outstanding Pebt operati ons: Maturity schedule of Interest-bearing public marketable securities issued by the U, S, Government Offerings of Treasury bills Offerings of marketable issues of Treasury bonds, notes, and certificates of Indebtedness DlspoBltion of matured marketable Issues of Treasury bonds notes, and certificates of Indebtednees and guaranteed securities 23 2U 2ll 2lt 2U 25 25 25 25 2l» 2U j 25 25 25 (Continued on following page) 25 25 Treasury Bulletin 72 CUMULATIVE TABLE OF CONTENTS. January 1050 through Decenber 1050 - (Contlmiedl BUY AND HOLD UNITED S TAT E S SAVINGS BONDS ^/ Treas. HJ 10 .A2 1950 C.2 U.S. Treasury Dept. Treasury Bulletin