The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-14
SECURITY HOLDINGS
OF TREASURY OVER.
ELEVEN BILLIONS.
Over $4,000, 100000 of
Total Consists of For
"a eign Obligations.
RAILROADS SECOND
Transportation Paper Now
s6S0,43s,653 - Gain of
$210,510,000 in Year.

An interesting analysis Of the Treas
ury's holdings OF sundry sorts OF
securities is given in the recent an
nual report of the Secretary of the
Treasury. Secretary Mellon says:
The aggregate amount OF securi-
ties owned by the United States gov
srnment on June 30,1sz1, as reported
70 the Treasury. was 81. 6.731. $50
7sas against a total OF s11,101, $50
3os.3o at the close of the previous
hscal year, a net increase OF s225, 142,-
S7tss. which is due principally to the
increase of $40. $40, 003.67 in the OBJ
hgattons Of carriers acquired through
loans to railroads from the $500 600, 900
revolving fund provided in section
2lo Of the transportation act. ap-
proved February IS. 1920. as amend
ed. and the increase in Federal land
bank bonds and miscellaneous secu-
rifles. The securities owned on June
30. 1921. for descriptive purposes, may
be divided into five general classes,
namely. ~ foreign obligations. $40
oss.S7, 2oe.5s. principal amount; (2)
capital stock OF war emergency cor
porations. s2ss,550. 1861. par amount:
t3) railroad securities. s6s0.43s, 653.67.
principal amount: 90 Federal land
bank securities, S1ss.735675: and (5)
miscellaneous securities. s104,0ss,-
1850.
The war emergency corporation
stock owned by the United States,
amounting in the aggregate to $685.
550.37s57. includes the capital stock
OF the Emergency Fleet Corporation.
the Housing Corporation. the Sugar
Equalization Board. the United States
Grain Corporation and the War Fl
nance Corporation.
Railroad Securities Held.
Tn. railroad securities. amounting
in the aggregate to $500, 43s. 653. 81,
consist of fa) the obligations of car
riers acquired under section Of
the Federal control act approved
March u, 1918. as amended (exclu-
siye Of obligations of carriers ac-
quired by the Director General of
Railroads from the operating revenues
Of carriers under the provisions OF
section II of the above mentioned
acO. s64.os7.250; (b) equipment trust
sold notes acquired by the Director
General Of Railroads pursuant to the
Federal control act of March 81 1918.
as amended. and the act approved
November 10. 1919, to provide for
the reimbursement of the United
states for motive power. cars and
other equipment ordered for carriers
under Federal control. s311. $50. 200:
tc) obligations OF carriers acquired
pursuant to section 207 Of the trans
portation act approved February Is
lS2o. as amended. on account Of Fed
eral control. sS9.596. 500; and Cd) the
obligations of carriers acquired pur-
suant to section 210 OF the trans.
portation act approved February "a
ls2o. as amended Ooans to railroad,
provided from the 5000. 900. 600 revolv-
574sO3.67.
The holdings of railroad securl-
ties increased s235.59I.54S.s7 during
the fiscal year. of which amount
'31e.51O.0OS.67. as above stated. rem
resents the increased amount OF
outstanding loans to carriers from
the 100000 900 revolving fund pro-
vlded in Section 210 of the trans
portation act. 1920. as amended
since the close OF the fiscal vear
1877, sales of the 6 per cent
equipment trust gold notes OF car
rier corporations described in CHI
above have been made by the df-
rector general Of railroads IN to
November Is. 1921. in the principal
amount Of s109.G3S 500. ali at mar
and accrued interest The proceeds
OF these sales, pursuant to Section
200 OF the transportation act. have
been covered into the Treasury to
the credit Of the appropriation
Federal control OF TRANSPORTATION
systems and are available for use
ny the director general Of railroads
in connection with the settlement
of matters growing out Of Federal
control.
Land Bank stock.
The Federal Land Bank securities
IN the aggregate amount of $3.50. =
iS5,6I5. consist OF Ca CAPITAL stock
OF the twelve Federal land banks.
still owned by the United States
ss.7o0.675; and Cb) Federal farm
loan bonds acquired pursuant to the
act approved January Is. 1918. as
extended by the joint resolution
approved May 26, 1920. S1S3.O35, 900.
During the fiscal year 1921 repay
ments were made by the Federal
land banks on their capital stock
owned by the United States,
amounting in the aggregate to
Se5ts35. The holdings of farm
loan bonds increased through pur-
chases s16.65O.OO during the fiscal
year. and on June 80. 1921, consist
Cd Of s136.ss5, 900 OF ~. per cent
bonds and st6, $50, OOO OF ; per cent
bonds.
The miscellaneous securities re-
ported. amounting in the aggre-
gate to s1O4,0sO,76S consist Of
az securities received by the Sec
rotary of War on account of sales
Of surplus war supplies. s23,4O7.-
563.16: CD securities received BY
the Secretary of the Navy on ac-
count OF sales OF surplus property.
s1e.so6,3o3.26: and Co securities re-
ceived by the United States Ship
ping Board on account of sales of
ships, etc, S67,775.90247. while at
the end of the fiscal year 1929 the
total miscellaneous securities were
shown as s65.192. This large in
crease during the fiscal year 1921
represents chiefly more complete
reports from the offices concerned
rather than additional securities
acquired.