New-York tribune., 1920-10-24
commercial Wins Scholastic Championship of BROOKLYN
$780, 100000 of
u. 5. Certificates
Are Paid In Week
Federal Boards Statement
Shows Increase i'm Cash
Reserve of So, 100000:
Note Circulation Gains

from me Trtbune's Washington Bureau
WASHINGTON, Oct. 23.-Liquidation
IN some volume Of discounted and pur-
chased bills, also of Treasury certiti
Gates, and a commensurate reduction
OF deposit liabilities are indicated in
the Federal Reserve Boards weekly
pank statement issued as at close of
business on October %. 1920. Federal
Reserve note circulation increased BY
Z.9 millions, while cash reserves show
an increase of "a millions As a con-
sequence the banks reserve ratio
shows a gain for the week from 32.7
to 43.3 per cent.
Holdings of paper secured by gov
ernment war obligations. includinr
treasury certif'cates, increased by 63
mllllons, while those OF other discount
ed paper declined By 3O9 millions and
those of acceptances by 1879 millions.
A reduction of POI millions in Treas
ury certificates on hand represents
largely the amounts of special certifi-
Gates taken up by the government dur
ing the week and to a smaller extent
net liquidation Of certificates, tempo
rarlly purchased from non member
banks. The total earning assets, 1857 7
millions, show reduction of 643 mil
lions SINCE the previous Friday.
Of the total of 1881 millions of pa
per secured by government war obiiga
Nons 035 millions. or 50 per cent.
were secured by Lioorty bonds; 1928
MllAonS, or 26.9 per cent. by Victory
notes. and 24l millions, or POI per cent
by Treasury certificates, as against
81 s, 27.1 and POI per cent Of a cor
responding total of 1922 millions re-
ported the week before. Discounted
bills held by the Boston. Philadelphia
and Cleveland banks include 243.1 mil
lions of paper discounted for the Fed
eral Reserve Bank of New York and
and Middle West, while acceptance
holdings Of the Boston, Philadelphia
and San Francisco banks are inclusive
of 243 millions of bank acceptances
pure hased from the New York and Chi
cago banks
As against an increase of about one
million n government deposits, Re-
serve deposits show decline of about
80 millions and other deposits, includ-
ing foreign government credits and
non-members clearing accounts, a de-
cline Of ll.S millions. wNile the float"
carried By the Reserve banks and
- NSHNNN4 90 d tN'itNN.'i / Jll StOSS Ce-
posts was 30.1 millions less than on
the preceding Friday. Calculated net
deposits, in consequence, were G97 mil
lions below the total given the week
be core
The only largo increase in Federal
Reserve note circulation, viz, by ia
millions. is reported by the Reserve
Bank Of Atlanta, ether Reserve banks.
VIZ, those al Boston, Philadelphia and
San Francisco, lowing either suhstan-
tai reductions or else only slight
rhanges in thair circulation figures
Federal Reserve bank note circulation
increased hv 03 million. The amount
Of gold with foreign agencies, in con-
sequence Of additional consignments of
gold hy tie Bank Of England 70 the
fedcral Reserve ban..s, shows further
decline of 6.6 millions. An increase of
sos, 900 in the paiG-in capital Of the
Reserve blnks is due to the admission
Of new members and the increase in
Of existing members,
largely in the Chicago and Minneapolis
districts