The sun., 1919-07-20
FEDERAL RESERVE
BANK STATEMENT
Liqidation Of $1O0,000,000 of
War Paper Is Indicated
for Week.
Special De,poteh to rnr sus.

WASHINGTON. July 1e.-Liquidation Of
more than 500. 100000 of war paper.
accompanied by substantial reductions In
net deposits and Federal reserve note
circulation, Is indicated by the Federal
Reserve Boards weekly statement.
Against a decline OF Sl05.200,0 900 in
the holdings of war paper and OF $4,000
600 in other discounts the banks report
an increase OF Sl2.30O,000 in acceptances
and OF @3.sO0.OOO in Treasury certifl-
Gates. As a result total earning assets
show. decrease from S2,52s,s0O,00o TO
$2,43S,900,000. Discounts on hand at
the Chicago st. Louis and Minneapolis
banks are inclusive OF S94.S00. 900 of
bills held under redlscount for other Fed
eral reserve banks, against $S6.9o0,0O0
reported for the week just before, while
acceptances held by the New York and
San Francisco banks include $42,so0.000,
against S23.700.o00 of acceptances pur-
chased from other Federal reserve
banks.
Government deposits declined $1,000
900, members reserve deposits slS.5O0,-
900, while the float carried by the Re-
serve banks went up SIS, 100000. Other
deposits, including foreign Government
credits show an increase of $l0,300.OOO,
while net deposits work out s7e.900.000
less than for the week just before. Fed
| eral Reserves notes in circulation de-
creased s36,lOO,000. all Reserve banks
except those in Atlanta, ST. Louis and
| Kansas City reporting substantial re-
auctions In the volume of outstanding
Federal Reserve note circulation.
Gold reserves are shown slightly larger
than the week Just before. gold deposited
| by the Treasury being more than sufii-
Client to Offset the gold Withdrawals for
export. Cash reserves declined S2,7OO,-
| 900. Largely as the result of the consid-
cradle decreases in deposit and note liza
bllities the reserve ratio of the banks
shows a rise from 4s.s to 500 per cent.
The following table shows the condi-
ton OF the banks in the Federal Reserve
system at the close OF business last
night:
Gold coin and certificates. &,33, 900
Gold settlement fund, Federal Re
| Total gold held by banks. ........ SCI, 000. 900
| Gold with Federal reserve agents. .lSt.l73,0 600
Gold redemption fund. ............. li2,927, 90
Total gold 100 900
Legal tender notes, silver, De-. 65,3sl. 900
Bills discounted. secured by Gov.
eminent war obligations .....,.i.s7sI 900
Bills bought in open market..... siS35s.oo
Total bills on hand 200 ies 900
United States Government bonds. 27,0st 900
United States Victory notes.. 1853 900
United States certificates OF IN
debtedness ..,...,................... eoesl. 900
Total earning assets...............243 7. $1,000
Bank premises. ..,...:.............. u,7S7 900
Unsolicited items and other deduc-
tons from gross deposits.,......... e5S,iet, 900
Five per cent. redemption fund
against Federal Reserve Bank
notes .......,................... lOo77.ooO
All other resources. 1000 900
Total resources. 50i, t06. 900
LIABILITIES.
Capital paid Observation-Disclosures. Ses5s 900
SurpluH 81 0ST 900
Gov eminent deposits. 1877 09O 900
Due TO members, reserve account. ia 100. 900
Deferred availability items,......... ISL 736 900
Other deposits. including foreign
Government credits................ I25 OCT, 100
Total gross deposits SO 800 900
Federal Reserve Bank notes in cir.
culation. net hability..........>... 1881 900
All other liabilities. l,Tli.00
Tota haoinues 800 tOS, 900
Ratio OF total reserves TO net deposit and
Federal Reserve note liabilities combined.
500 per cent.
Ratio of gold reserve 10 Federal Reserve
notes in circulation after setting aside Sc
per cent. against net deposit liabilities. $40
per cent.