TREASURY DEPARTMENT LIBRARY ROOM 5013
LIBRARY ROOM 5030
JUN 2.3 1972
TREASURY DEPARTMENT
TREASURY BULLETIN
MAY - 1953
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
May 1955
<table><tr><th></th><th>Page</th></tr><tr><td>Treasury financing operations</td><td>A-1</td></tr><tr><td>Summary of Federal fiscal operations</td><td>1</td></tr><tr><td>Budget receipts and expenditures</td><td>2</td></tr><tr><td>Trust account and other transactions</td><td>8</td></tr><tr><td>Treasury cash income and outgo</td><td>12</td></tr><tr><td>General Fund of the Treasury</td><td>15</td></tr><tr><td>Debt outstanding</td><td>16</td></tr><tr><td>Statutory debt limitation</td><td>21</td></tr><tr><td>Debt operations</td><td>22</td></tr><tr><td>United States savings bonds</td><td>27</td></tr><tr><td>Treasury savings notes</td><td>35</td></tr><tr><td>Ownership of Federal securities</td><td>36</td></tr><tr><td>Treasury survey of ownership of Federal securities</td><td>38</td></tr><tr><td>Market quotations</td><td>42</td></tr><tr><td>Yields of Treasury and corporate bonds</td><td>46</td></tr><tr><td>Internal revenue collections</td><td>48</td></tr><tr><td>Monetary statistics</td><td>52</td></tr><tr><td>Exchange Stabilization Fund</td><td>56</td></tr><tr><td>Capital movements</td><td>58</td></tr><tr><td>Corporations and certain other business-type activities -- income and expense, and source and application of funds</td><td>71</td></tr><tr><td>Cumulative table of contents</td><td>78</td></tr></table>
Note: In those tables in which figures have been rounded to a specified unit, all calculations (including percentages) have been made from unrounded figures. Consequently the details may not check to the totals shown.
Table of Contents
May 1955
A-1
Treasury Financing Operations
Long-Term Bond Offering
On April 8, 1953, the Secretary of the Treasury announced that on April 13 the Treasury would offer for cash subscription approximately $1 billion of 3-1/4 percent fully marketable long-term Treasury bonds, dated May 1, 1953, maturing June 15, 1953, and callable on or after June 15, 1978. The announcement stated that this offering, together with increases in weekly offerings of Treasury bills, was planned to meet the cash needs of about $2 billion for the balance of the fiscal year ending June 30.
It was stated further that the bond was designed to attract 'people's savings as they accumulate, especially in such institutions as life insurance companies, savings banks, pension funds, etc. To facilitate subscriptions by these institutions and by individuals, payments for the bonds may be made over a period of three months from the date of issue. Subscriptions from commercial banks were limited to a percentage of their time deposits. The bill increases are expected to be absorbed in substantial part by corporations and other nonbank investors.
The bond offering was made available also, during the period prior to May 1, for exchange of Series F and G savings bonds maturing from May 1 through December 1953. Holders of these bonds were given the privilege of exchanging them for the new marketable bond at par, with interest adjustments as of May 1.
Eligible F and G bondholders not wishing to accept the new marketable bond in exchange for their maturing bonds would have the opportunity, it was pointed out, of reinvesting the proceeds of matured F and G savings bonds in other series of savings bonds currently on sale, or to receive cash payment.
Full details of the offering were made available on April 13, when the subscription books were opened. The cash subscription books were closed at the close of business on April 14, in accordance with an announcement by the Secretary of the Treasury on that date.
Bearer bonds, with interest coupons attached, and bonds registered as to principal and interest are being issued, in denominations of $500, $1,000, $5,000, $10,000, $100,000, and $1,000,000. Interest on the new bonds will be payable on a semiannual basis on December 15, 1953, and thereafter on June 15 and December 15 until the principal amount becomes payable.
Cash subscriptions to the 3-1/4 percent Treasury bonds of 1978-83 amounted to $5-1/4 billion, and total allotments were $1,188 million. Subscriptions in amounts up to and including $5,000 were allotted in full. All other subscriptions were allotted 20 percent, subject to adjustment to the next higher $500, but not less than $5,000 on any one subscription. The allotment total included $117.8 million to Government investment accounts.
<table><tr><th colspan="2">Allotments by investor classes were as follows:</th></tr><tr><th>Investor class</th><th>Allotments (In millions)</th></tr><tr><td>Individuals, partnerships, and personal trust accounts</td><td>$254.6</td></tr><tr><td>Savings banks</td><td>102.2</td></tr><tr><td>Insurance companies</td><td>97.4</td></tr><tr><td>Building and loan and savings and loan associations</td><td>37.8</td></tr><tr><td>Other nonbanking corporations, pension truste, etc.</td><td>214.4</td></tr><tr><td>Commercial banks</td><td>128.6</td></tr><tr><td>Dealers, brokers, and investment houses</td><td>158.2</td></tr><tr><td>State and local governments</td><td>74.6</td></tr><tr><td>Federal agencies</td><td>2.0</td></tr><tr><td>Total</td><td>1,069.8</td></tr><tr><td>Government investment accounts</td><td>117.8</td></tr><tr><td>Grand total</td><td>1,187.6</td></tr></table>
Subscriptions may be paid for by credit in Treasury tax and loan accounts. Payments at par and accrued interest from May 1, 1957, may be deferred over a period of three months but must be completed not later than July 31.
Cash subscriptions from commercial banks for their own account were received without deposit, but were restricted in each case to an amount not exceeding 5 percent of their time deposits as of December 31, 1952. Other cash subscriptions were required to be accompanied by payment of 10 percent of the amount of bonds applied for.
Exchange subscriptions were received from holders of Series F and G savings bonds maturing in the months of May through December 1957, of which there are about $1.1 billion outstanding. Holders of F and G bonds aggregating less than an even multiple of $500 were allowed to exchange such bonds with payment of the difference in cash. Total exchanges amounted to $418.7 million, of which $385.8 million were G bonds, $31.9 million were F bonds, and the remainder, cash differences paid. Exchange subscription books were closed at the close of business on April 30.
Treasury Bills Increased
Offerings of 91-day bills during April totaled
Treasury Bulletin
A-2
$7.0 billion. The first increase in weekly bill offerings pursuant to the Secretary's announcement of April 8 was made in the issue of April 23, which amounted to $1.5 billion compared with the maturing issue of $1.4 billion. This was the first increase in weekly offerings since the issue of June 5, 1952. The four remaining issues were refunded in the equivalent weekly amounts of $1.2 billion on April 2, $1.4 billion each on April 9 and April 16, and $1.5 billion on April 30. Average rates of discount on the five new offerings were 2.029 percent for April 2, 2.073 percent for April 9, 2.219 percent for April 16, 2.320 percent for April 23, and 2.243 percent for April 30.
Note: Details of Treasury market financing operations are shown elsewhere in this issue of the "Treasury Bulletin," in the tables on "Offerings" and "Disposition", respectively, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills".
May 1955
1
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
<table><tr><th rowspan="2">Period</th><th colspan="3">Budget receipts and expenditures</th><th rowspan="2">Net of trust account and other transactions 2/ 3/</th><th rowspan="2">Clearing account 4/</th><th rowspan="2">Net increase in public debt, or decrease (-)</th><th rowspan="2">Net increase in General Fund balance, or decrease (-)</th><th colspan="4">Levels, end of period</th></tr><tr><th>Net receipts 1/</th><th>Expenses 2/</th><th>Surplus, or deficit (-) 2/</th><th>General Fund balance</th><th colspan="3">Debt outstanding</th></tr><tr><th>Fiscal years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Public debt</th><th>Guaranteed securities</th><th>Total Federal securities</th></tr><tr><td>1942</td><td>12,696</td><td>34,187</td><td>-21,490</td><td>-1,613</td><td>-</td><td>23,461</td><td>358</td><td>2,991</td><td>72,422</td><td>4,568</td><td>76,991</td></tr><tr><td>1943</td><td>22,202</td><td>79,622</td><td>-57,420</td><td>-338</td><td>-</td><td>64,274</td><td>6,515</td><td>9,507</td><td>136,696</td><td>4,100</td><td>140,796</td></tr><tr><td>1944</td><td>43,892</td><td>95,315</td><td>-51,423</td><td>-2,222</td><td>-</td><td>64,307</td><td>10,662</td><td>20,169</td><td>201,003</td><td>1,623</td><td>202,626</td></tr><tr><td>1945</td><td>44,762</td><td>98,703</td><td>-53,941</td><td>791</td><td>-</td><td>57,679</td><td>4,529</td><td>24,698</td><td>258,682</td><td>433</td><td>259,115</td></tr><tr><td>1946</td><td>40,027</td><td>60,703</td><td>-20,676</td><td>-524</td><td>-</td><td>10,740</td><td>-10,460</td><td>14,238</td><td>269,422</td><td>476</td><td>269,898</td></tr><tr><td>1947</td><td>40,043</td><td>39,289</td><td>754</td><td>-1,103</td><td>555</td><td>-11,136</td><td>-10,930</td><td>3,308</td><td>258,286</td><td>90</td><td>258,376</td></tr><tr><td>1948</td><td>42,211</td><td>33,791</td><td>8,419</td><td>-294</td><td>-507</td><td>-5,934</td><td>1,624</td><td>4,932</td><td>252,292</td><td>73</td><td>252,366</td></tr><tr><td>1949</td><td>38,246</td><td>40,057</td><td>-1,811</td><td>-495</td><td>366</td><td>478</td><td>-1,462</td><td>3,470</td><td>252,770</td><td>27</td><td>252,798</td></tr><tr><td>1950</td><td>37,045</td><td>40,167</td><td>-3,122</td><td>99</td><td>483</td><td>4,587</td><td>2,047</td><td>5,517</td><td>257,357</td><td>20</td><td>257,377</td></tr><tr><td>1951</td><td>48,143</td><td>44,633</td><td>3,510</td><td>679</td><td>-214</td><td>-2,135</td><td>1,839</td><td>7,357</td><td>255,222</td><td>29</td><td>255,251</td></tr><tr><td>1952</td><td>62,129</td><td>66,145</td><td>-4,017</td><td>147</td><td>-401</td><td>3,883</td><td>-338</td><td>6,969</td><td>259,105</td><td>46</td><td>259,151</td></tr><tr><td>1953 (Est.)</td><td>68,697</td><td>74,593</td><td>-5,896</td><td>108</td><td>25</td><td>4,795</td><td>-969</td><td>6,000</td><td>263,900</td><td>68</td><td>263,968</td></tr><tr><td>1954 (Est.)</td><td>68,665</td><td>78,587</td><td>-9,922</td><td>26</td><td>-5</td><td>9,900</td><td>-</td><td>6,000</td><td>273,800</td><td>43</td><td>273,843</td></tr><tr><th>Calendar years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1942</td><td>16,290</td><td>57,751</td><td>-41,461</td><td>-1,788</td><td>-</td><td>50,232</td><td>6,983</td><td>10,543</td><td>108,170</td><td>4,301</td><td>112,471</td></tr><tr><td>1943</td><td>34,483</td><td>90,174</td><td>-55,691</td><td>-266</td><td>-</td><td>57,707</td><td>1,751</td><td>12,294</td><td>165,877</td><td>4,230</td><td>170,108</td></tr><tr><td>1944</td><td>43,531</td><td>97,181</td><td>-53,650</td><td>-1,161</td><td>-</td><td>64,753</td><td>9,942</td><td>22,236</td><td>230,630</td><td>1,514</td><td>232,144</td></tr><tr><td>1945</td><td>43,928</td><td>87,522</td><td>-43,594</td><td>-123</td><td>-</td><td>47,484</td><td>3,767</td><td>26,003</td><td>278,115</td><td>567</td><td>278,682</td></tr><tr><td>1946</td><td>38,810</td><td>41,322</td><td>-2,512</td><td>-1,386</td><td>362</td><td>-18,966</td><td>-22,502</td><td>3,502</td><td>259,149</td><td>339</td><td>259,488</td></tr><tr><td>1947</td><td>41,010</td><td>38,576</td><td>2,434</td><td>-350</td><td>-240</td><td>-2,249</td><td>-405</td><td>3,097</td><td>256,900</td><td>81</td><td>256,981</td></tr><tr><td>1948</td><td>41,450</td><td>36,209</td><td>5,241</td><td>-229</td><td>193</td><td>-4,100</td><td>1,111</td><td>4,208</td><td>252,800</td><td>55</td><td>252,854</td></tr><tr><td>1949</td><td>38,122</td><td>41,714</td><td>-3,592</td><td>-502</td><td>234</td><td>4,331</td><td>471</td><td>4,679</td><td>257,130</td><td>30</td><td>257,160</td></tr><tr><td>1950</td><td>37,834</td><td>38,255</td><td>-422</td><td>311</td><td>87</td><td>-423</td><td>-447</td><td>4,232</td><td>256,708</td><td>24</td><td>256,731</td></tr><tr><td>1951</td><td>53,488</td><td>56,846</td><td>-3,358</td><td>815</td><td>-106</td><td>2,711</td><td>62</td><td>4,295</td><td>259,419</td><td>42</td><td>259,461</td></tr><tr><td>1952</td><td>65,523</td><td>71,366</td><td>-5,842</td><td>-41</td><td>-319</td><td>7,973</td><td>1,770</td><td>6,064</td><td>267,391</td><td>54</td><td>267,445</td></tr><tr><th>Months:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1951-January</td><td>4,448</td><td>3,808</td><td>640</td><td>-83</td><td>247</td><td>-583</td><td>221</td><td>4,454</td><td>256,125</td><td>18</td><td>256,143</td></tr><tr><td>February</td><td>4,257</td><td>3,211</td><td>1,047</td><td>227</td><td>-161</td><td>-184</td><td>929</td><td>5,382</td><td>255,941</td><td>18</td><td>255,958</td></tr><tr><td>March</td><td>8,112</td><td>4,058</td><td>4,054</td><td>-34</td><td>111</td><td>-944</td><td>3,187</td><td>8,569</td><td>254,997</td><td>21</td><td>255,018</td></tr><tr><td>April</td><td>2,626</td><td>4,007</td><td>-1,381</td><td>-69</td><td>106</td><td>-270</td><td>-1,614</td><td>6,955</td><td>254,727</td><td>21</td><td>254,748</td></tr><tr><td>May</td><td>3,146</td><td>4,517</td><td>-1,370</td><td>136</td><td>-304</td><td>366</td><td>-1,173</td><td>5,782</td><td>255,093</td><td>29</td><td>255,122</td></tr><tr><td>June</td><td>7,089</td><td>5,969</td><td>1,119</td><td>284</td><td>43</td><td>129</td><td>1,574</td><td>7,357</td><td>255,222</td><td>29</td><td>255,251</td></tr><tr><td>July</td><td>2,571</td><td>4,739</td><td>-2,168</td><td>11</td><td>-14</td><td>435</td><td>-1,737</td><td>5,620</td><td>255,657</td><td>28</td><td>255,685</td></tr><tr><td>August</td><td>3,594</td><td>5,087</td><td>-1,493</td><td>83</td><td>-103</td><td>988</td><td>-585</td><td>5,095</td><td>256,644</td><td>32</td><td>256,677</td></tr><tr><td>September</td><td>6,209</td><td>5,163</td><td>1,046</td><td>37</td><td>30</td><td>709</td><td>1,822</td><td>6,916</td><td>257,353</td><td>33</td><td>257,386</td></tr><tr><td>October</td><td>2,635</td><td>5,483</td><td>-2,847</td><td>-55</td><td>-86</td><td>945</td><td>-2,042</td><td>4,874</td><td>258,298</td><td>37</td><td>258,336</td></tr><tr><td>November</td><td>3,521</td><td>5,178</td><td>-1,658</td><td>82</td><td>20</td><td>1,306</td><td>-250</td><td>4,624</td><td>259,604</td><td>43</td><td>259,647</td></tr><tr><td>December</td><td>5,279</td><td>5,627</td><td>-347</td><td>196</td><td>7</td><td>-186</td><td>-329</td><td>4,295</td><td>259,419</td><td>42</td><td>259,461</td></tr><tr><td>1952-January</td><td>4,953</td><td>5,455</td><td>-501</td><td>-374</td><td>103</td><td>357</td><td>-415</td><td>3,879</td><td>259,775</td><td>38</td><td>259,813</td></tr><tr><td>February</td><td>5,553</td><td>5,105</td><td>448</td><td>186</td><td>-25</td><td>587</td><td>1,196</td><td>5,075</td><td>260,362</td><td>37</td><td>260,399</td></tr><tr><td>March</td><td>9,886</td><td>5,704</td><td>4,182</td><td>106</td><td>-245</td><td>-2,278</td><td>1,765</td><td>6,840</td><td>258,084</td><td>41</td><td>258,124</td></tr><tr><td>April</td><td>4,323</td><td>6,016</td><td>-1,693</td><td>-291</td><td>329</td><td>209</td><td>-1,447</td><td>5,393</td><td>258,292</td><td>44</td><td>258,337</td></tr><tr><td>May</td><td>3,809</td><td>5,659</td><td>-1,850</td><td>357</td><td>-91</td><td>1,613</td><td>28</td><td>5,421</td><td>259,905</td><td>45</td><td>259,951</td></tr><tr><td>June</td><td>9,796</td><td>6,930</td><td>2,865</td><td>-192</td><td>-326</td><td>-800</td><td>1,548</td><td>6,969</td><td>259,105</td><td>46</td><td>259,151</td></tr><tr><td>July</td><td>3,316</td><td>6,742</td><td>-3,426</td><td>-17</td><td>432</td><td>3,968</td><td>957</td><td>7,925</td><td>263,073</td><td>34</td><td>263,107</td></tr><tr><td>August</td><td>4,050</td><td>5,018</td><td>-968</td><td>77</td><td>-195</td><td>113</td><td>-973</td><td>6,952</td><td>263,186</td><td>39</td><td>263,225</td></tr><tr><td>September</td><td>6,585</td><td>6,070</td><td>515</td><td>422</td><td>-229</td><td>-504</td><td>204</td><td>7,156</td><td>262,682</td><td>40</td><td>262,722</td></tr><tr><td>October</td><td>3,099</td><td>6,383</td><td>-3,283</td><td>-252</td><td>316</td><td>2,238</td><td>-981</td><td>6,175</td><td>264,919</td><td>45</td><td>264,964</td></tr><tr><td>November</td><td>4,151</td><td>5,161</td><td>-1,009</td><td>201</td><td>-243</td><td>2,513</td><td>1,461</td><td>7,636</td><td>267,432</td><td>51</td><td>267,483</td></tr><tr><td>December</td><td>6,003</td><td>7,124</td><td>-1,121</td><td>-265</td><td>-145</td><td>-41</td><td>-1,572</td><td>6,064</td><td>267,391</td><td>54</td><td>267,445</td></tr><tr><td>1953-January</td><td>5,061</td><td>5,737</td><td>-676</td><td>-111</td><td>401</td><td>11</td><td>-376</td><td>5,689</td><td>267,402</td><td>48</td><td>267,450</td></tr><tr><td>February</td><td>5,479</td><td>5,595</td><td>-116</td><td>272</td><td>-2</td><td>182</td><td>335</td><td>6,024</td><td>267,584</td><td>50</td><td>267,634</td></tr><tr><td>March</td><td>10,502</td><td>6,187</td><td>4,315</td><td>-197</td><td>-135</td><td>-3,099</td><td>684</td><td>6,908</td><td>264,485</td><td>51</td><td>264,536</td></tr><tr><td>April</td><td>2,849</td><td>6,362</td><td>-3,513</td><td>-207</td><td>289</td><td>105</td><td>-3,326</td><td>3,582</td><td>264,590</td><td>52</td><td>264,642</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. More detailed information with respect to the figures in this table is given in succeeding tables.
1/ Grosse receipts less appropriations to the Federal Old-Age and Survivors Insurance Trust Fund and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 114 (f) of the Economic Cooperation Act of 1948
(62 Stat. 150), are consolidated with budget expenditures. Beginning with the fiscal year 1950, investments of wholly owned Government corporations in public debt securities are excluded from budget expenditures, and included with other such investments under "Trust account and other transactions". Excess of receipts, or expenditures (-). For outstanding checks and interest coupons, and telegraphic reports from Federal Reserve Banks; excess of receipts, or expenditures (-).
2
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Internal revenue 1/</th><th></th><th>Customs</th><th>Other receipts 6/</th><th>Gross receipts</th><th colspan="2">Deductions</th><th>Net receipts</th></tr><tr><th></th><th>Income and profits taxe</th><th></th><th>Employment taxe 5/</th><th>Miscellaneous internal revenue</th><th>Total internal revenue</th><th></th><th></th><th>Appropriations to Federal Old-Age and Survivors Insurance Trust Fund 7/</th><th>Refunds of receipts 8/</th><th></th></tr><tr><th></th><th>Withheld by employers 2/</th><th>Other 3/</th><th>Total 4/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945</td><td>10,289</td><td>24,884</td><td>35,173</td><td>1,780</td><td>6,949</td><td>43,902</td><td>355</td><td>3,494</td><td>47,750</td><td>1,310</td><td>1,679</td><td>44,762</td></tr><tr><td>1946</td><td>9,392</td><td>21,493</td><td>30,885</td><td>1,701</td><td>7,725</td><td>40,310</td><td>435</td><td>3,492</td><td>44,238</td><td>1,238</td><td>2,973</td><td>40,027</td></tr><tr><td>1947</td><td>10,013</td><td>19,292</td><td>29,306</td><td>2,024</td><td>8,049</td><td>39,379</td><td>494</td><td>4,635</td><td>44,508</td><td>1,459</td><td>3,006</td><td>40,043</td></tr><tr><td>1948</td><td>11,436</td><td>19,735</td><td>31,171</td><td>2,381</td><td>8,301</td><td>41,853</td><td>422</td><td>3,824</td><td>46,099</td><td>1,616</td><td>2,272</td><td>42,211</td></tr><tr><td>1949</td><td>9,842</td><td>19,641</td><td>29,482</td><td>2,477</td><td>8,348</td><td>40,307</td><td>384</td><td>2,082</td><td>42,774</td><td>1,690</td><td>2,838</td><td>38,246</td></tr><tr><td>1950</td><td>10,073</td><td>18,189</td><td>28,263</td><td>2,883</td><td>8,303</td><td>39,449</td><td>423</td><td>1,439</td><td>41,311</td><td>2,106</td><td>2,160</td><td>37,045</td></tr><tr><td>1951</td><td>13,535</td><td>24,218</td><td>37,753</td><td>3,931</td><td>9,423</td><td>51,106</td><td>624</td><td>1,639</td><td>53,369</td><td>3,120</td><td>2,107</td><td>48,143</td></tr><tr><td>1952</td><td>18,521</td><td>32,826</td><td>51,347</td><td>4,562</td><td>9,726</td><td>65,635</td><td>551</td><td>1,814</td><td>67,999</td><td>3,569</td><td>2,302</td><td>62,129</td></tr><tr><td>1953 (Est.)</td><td>24,948</td><td>36,303</td><td>57,251</td><td>4,921</td><td>10,690</td><td>72,862</td><td>590</td><td>1,756</td><td>75,208</td><td>4,000</td><td>2,511</td><td>68,697</td></tr><tr><td>1954 (Est.)</td><td>24,979</td><td>36,013</td><td>56,694</td><td>5,238</td><td>10,809</td><td>72,741</td><td>590</td><td>2,191</td><td>75,522</td><td>4,298</td><td>2,559</td><td>68,665</td></tr><tr><td>1952-July</td><td>1,007</td><td>1,435</td><td>2,260</td><td>204</td><td>949</td><td>3,413</td><td>48</td><td>188</td><td>3,649</td><td>182</td><td>151</td><td>3,316</td></tr><tr><td>August</td><td>2,995</td><td>445</td><td>3,006</td><td>540</td><td>862</td><td>4,408</td><td>47</td><td>130</td><td>4,585</td><td>434</td><td>102</td><td>4,050</td></tr><tr><td>September</td><td>1,751</td><td>4,029</td><td>5,545</td><td>289</td><td>877</td><td>6,711</td><td>52</td><td>112</td><td>6,875</td><td>235</td><td>55</td><td>6,585</td></tr><tr><td>October</td><td>997</td><td>1,214</td><td>2,006</td><td>221</td><td>923</td><td>3,150</td><td>65</td><td>139</td><td>3,355</td><td>204</td><td>51</td><td>3,099</td></tr><tr><td>November</td><td>3,085</td><td>436</td><td>2,988</td><td>636</td><td>888</td><td>4,513</td><td>44</td><td>175</td><td>4,731</td><td>533</td><td>47</td><td>4,151</td></tr><tr><td>December</td><td>1,882</td><td>3,088</td><td>4,667</td><td>357</td><td>939</td><td>5,963</td><td>51</td><td>336</td><td>6,350</td><td>303</td><td>45</td><td>6,003</td></tr><tr><td>1953-January</td><td>989</td><td>3,111</td><td>3,983</td><td>147</td><td>842</td><td>4,972</td><td>51</td><td>209</td><td>5,232</td><td>117</td><td>54</td><td>5,061</td></tr><tr><td>February</td><td>3,544</td><td>1,479</td><td>4,538</td><td>757</td><td>856</td><td>6,150</td><td>43</td><td>107</td><td>6,300</td><td>486</td><td>336</td><td>5,479</td></tr><tr><td>March</td><td>2,102</td><td>8,551</td><td>10,229</td><td>490</td><td>993</td><td>11,712</td><td>56</td><td>102</td><td>11,870</td><td>425</td><td>944</td><td>10,502</td></tr><tr><td>1953 to date</td><td>18,351</td><td>23,789</td><td>39,221</td><td>3,643</td><td>8,129</td><td>50,993</td><td>456</td><td>1,499</td><td>52,948</td><td>2,919</td><td>1,784</td><td>48,245</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. Receipt classifications
shown here differ somewhat from those in the Budget. Footnotes follow Table 2.
Table 2.- Expenditures by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total 9/</th><th>National defense and related activities</th><th>International finance and aid</th><th>Interst on the public debt 10/</th><th>Veterans' Administration 11/</th><th>Other</th></tr><tr><td>1945</td><td>98,703</td><td>90,501</td><td>-</td><td>3,617</td><td>2,060</td><td>2,525</td></tr><tr><td>1946</td><td>60,703</td><td>48,870</td><td>727</td><td>4,722</td><td>4,253</td><td>2,133</td></tr><tr><td>1947</td><td>39,289</td><td>16,812</td><td>4,928</td><td>4,958</td><td>7,259</td><td>5,332</td></tr><tr><td>1948</td><td>33,791 12/</td><td>11,500</td><td>4,143 12/</td><td>5,211</td><td>6,469</td><td>6,467</td></tr><tr><td>1949</td><td>40,057 12/</td><td>12,158</td><td>6,016 12/</td><td>5,339</td><td>6,878</td><td>9,666</td></tr><tr><td>1950</td><td>40,167</td><td>12,346</td><td>4,689</td><td>5,750</td><td>6,517</td><td>10,865</td></tr><tr><td>1951</td><td>44,633</td><td>19,955</td><td>4,869</td><td>5,613</td><td>5,333</td><td>9,263</td></tr><tr><td>1952</td><td>66,145</td><td>39,033 13/</td><td>4,917</td><td>5,859</td><td>4,952</td><td>11,304</td></tr><tr><td>1953 (Est.)</td><td>74,593</td><td>44,447</td><td>5,799</td><td>6,450</td><td>4,584</td><td>13,313</td></tr><tr><td>1954 (Est.)</td><td>78,587</td><td>46,430</td><td>7,596</td><td>6,350</td><td>4,494</td><td>13,716</td></tr><tr><td>1952-July</td><td>6,742</td><td>3,884</td><td>594</td><td>320</td><td>401</td><td>1,543</td></tr><tr><td>August</td><td>5,018</td><td>2,971</td><td>596</td><td>183</td><td>362</td><td>906</td></tr><tr><td>September</td><td>6,070</td><td>4,008</td><td>302</td><td>559</td><td>353</td><td>847</td></tr><tr><td>October</td><td>6,383</td><td>3,723</td><td>423</td><td>572</td><td>363</td><td>1,302</td></tr><tr><td>November</td><td>5,161</td><td>3,302</td><td>375</td><td>185</td><td>354</td><td>944</td></tr><tr><td>December</td><td>7,124</td><td>4,081</td><td>371</td><td>1,146</td><td>386</td><td>1,140</td></tr><tr><td>1953-January</td><td>5,737</td><td>3,632</td><td>393</td><td>235</td><td>354</td><td>1,123</td></tr><tr><td>February</td><td>5,595</td><td>3,501</td><td>468</td><td>311</td><td>349</td><td>965</td></tr><tr><td>March</td><td>6,187</td><td>3,789</td><td>690</td><td>563</td><td>364</td><td>781</td></tr><tr><td>1953 to date</td><td>54,016</td><td>32,891</td><td>4,212</td><td>4,075</td><td>3,285</td><td>9,552</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. Expenditure classifications shown here differ somewhat from those in the Budget. For further detail, see tables under "Internal Revenue Collections". Under Current Tax Payment Act of 1943, as amended (26 U.S.C. 1621-1632). Monthly figures include old-age insurance taxes on employers and employees, because these taxes are not separable currently from income tax withheld. Fiscal year figures exclude old-age insurance taxes, on the basis of estimates beginning 1951. For further explanation, see footnote 7. Corporation income and profits taxes and individual income tax not withheld. Monthly figures include old-age insurance tax on self-employment income, because this tax is not separable currently from income tax not withheld. Fiscal year figures exclude old-age
4/ Partly estimated beginning January 1951 (see footnote 7). Monthly figures will not add to this total (see footnotes 2 and 3).
5/ Consists of receipts for old-age insurance, unemployment insurance, and railroad retirement; for further detail, see Tables 7 and 8. Beginning January 1951, receipts for old-age insurance are estimated as explained in footnote 7. Railroad unemployment insurance contributions for administrative expenses are included in "Other receipts".
6/ Includes proceeds from sale of surplus property and from Government-owned securities; deposits resulting from renegotiation of war contracts (see "Treasury Bulletin" for February 1948, page 5); and repayments on credit to United Kingdom (see Table 4).
Footnotes 7 through 8 on page 3 and 9 through 35 on page 4.
May 1955
3
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures for National Defense and Related Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Air Force 14/</th><th>Army 15/</th><th>Navy 16/</th><th>Payments under Armed Forces Leave Act</th><th>Reconstruction Finance Corporation 17/</th><th>United States Maritime Commission 18/</th><th>UNRRA</th><th>Surplus property diieosal</th><th>Strategic and critical materials 19/</th><th>Other 20/</th></tr><tr><td>1945</td><td>90,501</td><td>-</td><td>50,337</td><td>30,047</td><td>-</td><td>472</td><td>3,227</td><td>114</td><td>-</td><td>-</td><td>6,305</td></tr><tr><td>1946</td><td>48,870</td><td>-</td><td>27,800</td><td>15,161</td><td>-</td><td>328</td><td>694</td><td>664</td><td>106</td><td>-</td><td>4,117</td></tr><tr><td>1947</td><td>16,812</td><td>-</td><td>6,911</td><td>4,998</td><td>1,986</td><td>138</td><td>271</td><td>1,501</td><td>442</td><td>11</td><td>554</td></tr><tr><td>1948</td><td>11,500</td><td>-</td><td>6,046</td><td>4,171</td><td>270</td><td>-</td><td>277</td><td>268</td><td>325</td><td>99</td><td>44</td></tr><tr><td>1949</td><td>12,158</td><td>1,690</td><td>5,417</td><td>4,422</td><td>10</td><td>-</td><td>136</td><td>25</td><td>98</td><td>299</td><td>71</td></tr><tr><td>1950</td><td>12,316</td><td>3,506</td><td>4,058</td><td>4,110</td><td>1</td><td>-</td><td>-</td><td>*</td><td>7</td><td>439</td><td>225</td></tr><tr><td>1951</td><td>19,955</td><td>6,238</td><td>6,867</td><td>5,757</td><td>3</td><td>-</td><td>-</td><td>*</td><td>*</td><td>656</td><td>435</td></tr><tr><td>1952</td><td>39,033 13/</td><td>12,350 13/</td><td>15,370 13/</td><td>9,961</td><td>1</td><td>-</td><td>-</td><td>*</td><td>2</td><td>847</td><td>503</td></tr><tr><td>1953 (Est.)</td><td>44,447</td><td>15,385</td><td>15,865</td><td>10,900</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,070</td><td>1,227</td></tr><tr><td>1954 (Est.)</td><td>46,430</td><td>17,510</td><td>15,200</td><td>12,000</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>900</td><td>820</td></tr><tr><td>1952-July</td><td>3,884</td><td>1,297</td><td>1,508</td><td>966</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>83</td><td>30</td></tr><tr><td>August</td><td>2,972</td><td>1,040</td><td>981</td><td>805</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>92</td><td>52</td></tr><tr><td>September</td><td>4,008</td><td>1,344</td><td>1,560</td><td>961</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>103</td><td>40</td></tr><tr><td>October</td><td>3,723</td><td>1,211</td><td>1,468</td><td>916</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>86</td><td>42</td></tr><tr><td>November</td><td>3,302</td><td>1,052</td><td>1,301</td><td>857</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>57</td><td>36</td></tr><tr><td>December</td><td>4,081</td><td>1,386</td><td>1,554</td><td>1,034</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>69</td><td>38</td></tr><tr><td>1953-January</td><td>3,632</td><td>1,285</td><td>1,211</td><td>1,020</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>76</td><td>40</td></tr><tr><td>February</td><td>3,501</td><td>1,088</td><td>1,315</td><td>964</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>71</td><td>63</td></tr><tr><td>March</td><td>3,789</td><td>1,284</td><td>1,293</td><td>1,078</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>93</td><td>41</td></tr><tr><td>1953 to date</td><td>32,891</td><td>10,987</td><td>12,190</td><td>8,602</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>730</td><td>382</td></tr></table>
Source: See Table 2. Footnotes at end of Table 5.
Table 4.- Expenditures for International Finance and Aid
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Bretton Woode Agreements Act</th><th>Export-Import Bank 21/</th><th>Credit to United Kingdom 22/</th><th>Government and relief in occupied areas</th><th>Greek-Turkish Assistance</th><th colspan="3">Mutual Security Act 23/</th><th>Other 25/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Economic and technical assistance 24/</th><th>Military assistance 25/</th><th>Other</th><th></th></tr><tr><td>1946</td><td>727</td><td>159</td><td>568</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>4,928</td><td>1,426</td><td>938</td><td>2,050</td><td>514</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>4,113 12/</td><td>-</td><td>465</td><td>1,700</td><td>881</td><td>161</td><td>134 12/</td><td>-</td><td>-</td><td>803</td></tr><tr><td>1949</td><td>6,016 12/</td><td>-</td><td>-60</td><td>-</td><td>1,333</td><td>279</td><td>4,043 12/</td><td>-</td><td>-</td><td>420</td></tr><tr><td>1950</td><td>4,689</td><td>-</td><td>45</td><td>-</td><td>779</td><td>126</td><td>3,523</td><td>44</td><td>-</td><td>170</td></tr><tr><td>1951</td><td>4,469</td><td>-</td><td>88</td><td>-</td><td>370</td><td>65</td><td>3,006</td><td>884</td><td>-</td><td>58</td></tr><tr><td>1952</td><td>4,917</td><td>-</td><td>25</td><td>-</td><td>152</td><td>18</td><td>2,191</td><td>2,228</td><td>47</td><td>256</td></tr><tr><td>1953 (Est.)</td><td>5,799</td><td>-</td><td>82</td><td>-</td><td>49</td><td>-</td><td>-</td><td>5,506 27/</td><td></td><td>162</td></tr><tr><td>1954 (Est.)</td><td>7,596</td><td>-</td><td>45</td><td>-</td><td>49</td><td>-</td><td>-</td><td>7,397 27/</td><td></td><td>105</td></tr><tr><td>1952-July</td><td>594</td><td>-</td><td>92</td><td>-</td><td>5</td><td>4</td><td>193</td><td>293</td><td>6</td><td>1</td></tr><tr><td>August</td><td>596</td><td>-</td><td>46</td><td>-</td><td>9</td><td>*</td><td>178</td><td>352</td><td>3</td><td>6</td></tr><tr><td>September</td><td>302</td><td>-</td><td>-13</td><td>-</td><td>4</td><td>*</td><td>114</td><td>184</td><td>6</td><td>7</td></tr><tr><td>October</td><td>423</td><td>-</td><td>-10</td><td>-</td><td>5</td><td>*</td><td>122</td><td>298</td><td>4</td><td>3</td></tr><tr><td>November</td><td>375</td><td>-</td><td>-5</td><td>-</td><td>4</td><td>*</td><td>106</td><td>266</td><td>2</td><td>2</td></tr><tr><td>December</td><td>371</td><td>-</td><td>-30</td><td>-</td><td>3</td><td>*</td><td>110</td><td>275</td><td>4</td><td>9</td></tr><tr><td>1953-January</td><td>393</td><td>-</td><td>-37</td><td>-</td><td>3</td><td>-</td><td>141</td><td>277</td><td>3</td><td>5</td></tr><tr><td>February</td><td>468</td><td>-</td><td>-6</td><td>-</td><td>3</td><td>*</td><td>143</td><td>316</td><td>2</td><td>10</td></tr><tr><td>March</td><td>690</td><td>-</td><td>-10</td><td>-</td><td>3</td><td>*</td><td>156</td><td>523</td><td>3</td><td>15</td></tr><tr><td>1953 to date</td><td>4,212</td><td>-</td><td>27</td><td>-</td><td>40</td><td>4</td><td>1,263</td><td>2,785</td><td>35</td><td>58</td></tr></table>
of the Treasury, and are adjusted in later transfers on the basis of wage and self-employment income records maintained by the Federal Security Administrator. For purposes of this table, the amounts credited to the trust fund beginning January 1951 are considered to represent estimated receipts of old-age insurance taxes for corresponding periods. Accordingly, these amounts are included under employment taxes and excluded from total income and profits taxes as shown. Throughout the calendar year 1951, the same amounts were deducted from the combined taxes paid in by employers, and the balance was shown as income tax withheld. Beginning January 1952, the tax on self-employment income is allowed for in the amounts credited to the trust fund, but no breakdown between the two types of old-age insurance taxes is available monthly. Estimates of the breakdown are made on a fiscal year basis beginning 1952. Interest on refunds is included in Table 5 under "Miscellaneous".
Source: See Table 2. Footnotes 1 through 6 on page 2 and 9 through 35 on page 4. / For basis of appropriations, see Table 7. Amounts appropriated are equivalent to the amounts of taxes collected and deposited for old-age insurance. The Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950, changed in certain respects the basis of transferring the appropriated funds to the trust fund. Effective January 1, 1951, the old-age insurance taxes on employers and employees and the withheld income tax are paid into the Treasury in combined amounts without separation as to type of tax. The old-age insurance tax on self-employment income, imposed by Public Law 734, is levied and collected as part of the individual income tax, beginning with the taxable year 1951. Beginning January 1951, the amounts transferred currently as appropriations to the trust fund are based on estimates of old-age insurance tax receipts made by the Secretary
4
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5. "Other" Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Agriculture 28/</th><th>Commerce 29/</th><th>Housing and home finance 30/</th><th>Postal deficit</th><th>Public works 31/</th><th>Reconstruction Finance Corporation 32/</th><th>Social security program 33/</th><th>Atomic Energy Commission</th><th>Miscellaneous 34/</th></tr><tr><td>1945</td><td>2,525</td><td>969</td><td>92</td><td>-307</td><td>1</td><td>313</td><td>-288</td><td>807</td><td>-</td><td>937</td></tr><tr><td>1946</td><td>2,133</td><td>-203</td><td>98</td><td>-246</td><td>161</td><td>359</td><td>-23</td><td>845</td><td>-</td><td>1,142</td></tr><tr><td>1947</td><td>5,332</td><td>1,226</td><td>149</td><td>129</td><td>242</td><td>690</td><td>215</td><td>1,066</td><td>159</td><td>1,456</td></tr><tr><td>1948</td><td>6,467</td><td>782</td><td>172</td><td>-68</td><td>310</td><td>1,126</td><td>438</td><td>1,619</td><td>456</td><td>1,633</td></tr><tr><td>1949</td><td>9,666</td><td>2,658</td><td>239</td><td>-56</td><td>524</td><td>1,519</td><td>314</td><td>1,696</td><td>647</td><td>2,124</td></tr><tr><td>1950</td><td>10,865</td><td>2,986</td><td>385</td><td>-270</td><td>593</td><td>1,575</td><td>589</td><td>1,967</td><td>524</td><td>2,515</td></tr><tr><td>1951</td><td>9,263</td><td>635</td><td>378</td><td>460</td><td>624</td><td>1,458</td><td>-71</td><td>2,027</td><td>908</td><td>2,844</td></tr><tr><td>1952</td><td>11,384</td><td>1,219 35/</td><td>528</td><td>614</td><td>740</td><td>1,515</td><td>-169</td><td>2,203</td><td>1,648</td><td>3,086</td></tr><tr><td>1953 (Est.)</td><td>13,313</td><td>2,131</td><td>521</td><td>539</td><td>666</td><td>1,670</td><td>-56</td><td>2,285</td><td>2,000</td><td>3,556</td></tr><tr><td>1954 (Est.)</td><td>13,716</td><td>2,020</td><td>436</td><td>380</td><td>669</td><td>1,698</td><td>-120</td><td>2,311</td><td>2,700</td><td>3,623</td></tr><tr><td>1952-July</td><td>1,543</td><td>117</td><td>59</td><td>41</td><td>175</td><td>157</td><td>42</td><td>212</td><td>140</td><td>601</td></tr><tr><td>August</td><td>906</td><td>126</td><td>42</td><td>21</td><td>-</td><td>148</td><td>-3</td><td>195</td><td>144</td><td>234</td></tr><tr><td>September</td><td>847</td><td>49</td><td>28</td><td>71</td><td>-</td><td>158</td><td>9</td><td>170</td><td>155</td><td>207</td></tr><tr><td>October</td><td>1,302</td><td>192</td><td>45</td><td>79</td><td>180</td><td>174</td><td>-1</td><td>204</td><td>160</td><td>269</td></tr><tr><td>November</td><td>944</td><td>112</td><td>32</td><td>101</td><td>-</td><td>140</td><td>-11</td><td>208</td><td>150</td><td>212</td></tr><tr><td>December</td><td>1,140</td><td>289</td><td>45</td><td>112</td><td>-</td><td>138</td><td>-7</td><td>162</td><td>127</td><td>275</td></tr><tr><td>1953-January</td><td>1,123</td><td>357</td><td>24</td><td>-80</td><td>160</td><td>89</td><td>-16</td><td>193</td><td>158</td><td>239</td></tr><tr><td>February</td><td>965</td><td>285</td><td>10</td><td>19</td><td>-</td><td>70</td><td>-24</td><td>200</td><td>151</td><td>223</td></tr><tr><td>March</td><td>781</td><td>281</td><td>46</td><td>-3</td><td>-30</td><td>88</td><td>-28</td><td>62</td><td>157</td><td>207</td></tr><tr><td>1953 to date</td><td>9,552</td><td>1,808</td><td>361</td><td>360</td><td>485</td><td>1,163</td><td>-39</td><td>1,606</td><td>1,342</td><td>2,466</td></tr></table>
Source: See Table 2.
9/ For description of content, see Table 6 footnote 3.
10/ Beginning November 1949, interest on the public debt is reported as an expenditure when such interest becomes due and payable, as distinguished from the previous practice of showing the expenditure on the basis of interest paid by the Treasurer of the United States.
11/ Includes public works undertaken by the Veterans' Administration.
12/ Includes transactions relating to the Foreign Economic Cooperation Trust Fund (see page 1).
13/ Net transactions by the Departments of the Air Force and the Army relating to "Deposit Fund Accounts" are included under "Trust Account and Other Transactions" instead of "Budget Receipts and Expenditures" beginning 1952.
14/ Department of the Air Force expenditures, excluding those made on behalf of this department out of appropriations to the Department of the Army.
15/ Department of the Army expenditures, excluding the following: those included elsewhere in Table 3; international finance and aid, shown in Table 4; river and harbor works and flood control, included in Table 5 under "Public works"; and Panama Canal. Defense expenditures of the Panama Canal prior to 1947 are included in Table 3 under "Other"; nondefense expenditures are included in Table 5 under "Miscellaneous". Figures include certain expenditures on behalf of the Department of the Air Force (see footnote 14).
16/ Department of the Navy expenditures, excluding those included elsewhere in Table 3 and those for international finance and aid shown in Table 4.
17/ After 1947, expenditures for national defense and related activities were not segregated from other expenditures of the Corporation and its affiliates, which are included in Table 5.
18/ Excludes expenditures included elsewhere in Table 3. Beginning 1950, expenditures of the Commissicon until it was abolished are included in Table 5 under "Commerce" (see footnote 29).
19/ Not classified separately prior to 1947.
20/ Through 1947, includes "war" and "national defense" expenditures of various departments and agencies; administrative expenses of the Selective Service System; expenditures of the War Shipping Administration not included elsewhere in Table 3, until the Administration was transferred to the U. S. Maritime Administration for liquidation, September 1, 1946; aid to China; and beginning 1947, the National Advisory Committee for Aeronautics. From July 1947 through February 1948, consists of expenditures of that Committee and the Selective Service System. Thereafter, includes also expenditures of the Office of the Secretary of Defense, including retired pay for the military services beginning September 1949.
21/ Excludes Bank expenditures under the Mutual Security Act and the preceding Economic Cooperation Act of 1948, as amended.
22/ Under the Financial Agreement of December 6, 1945. First repayment became due on December 31, 1951, when payments were made of $44 million principal and $75 million interest. Payments on December 31, 1952, were $45 million principal and $74 million interest.
23/ Public Law 165, approved October 10, 1951.
24/ Prior to July 1951, consists of expenditures under the Economic Cooperation Act.
25/ Prior to July 1951, consists of expenditures for mutual defense assistance.
26/ Includes principally relief to countries devastated by war, various other foreign relief programs, international children's emergency funds, and loan for construction and furnishing of United Nations Headquarters.
27/ Total under Mutual Security Act; breakdown not available.
28/ Department of Agriculture expenditures, excluding those included in Tables 3 and 4 and those for forest roads and trails, included in Table 5 under "Public works".
29/ Department of Commerce expenditures, excluding those included in Tables 3 and 4 and those for public roads included in Table 5 under "Public works"; includes U. S. Maritime Commission for eleven months of 1950, until it was abolished and its functions were transferred into the Department of Commerce by Reorganization Plan No. 21 of 1950.
30/ Excludes expenditures included in Table 3; beginning September 1950, includes Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation by Reorganization Plans Nos. 22 and 23 of 1950.
31/ Consists of expenditures for the following: public roads, except assistance to Greece and Turkey; public buildings, consisting of construction only, beginning 1950; Bureau of Community Facilities through 1950, when it was abolished and its functions were distributed; other Federal Works Agency expenditures except those included in Table 3 until the Agency was abolished by the act of June 30, 1949 (63 Stat. 380); Bureau of Reclamation; Tennessee Valley Authority; river and harbor works and flood control under the Department of the Army; and forest roads and trails under the Department of Agriculture.
32/ Excludes expenditures included in Table 3. See also footnote 30.
33/ For more detail of those expenditures, see Tables 7, 8, and 9.
34/ Includes expenditures for executive departments and other agencies not included elsewhere and for legislative and judicial functions.
35/ Beginning 1952, borrowings and other transactions of the Federal intermediate credit banks are reflected in the Daily Treasury Statement, even though funds received and disbursed under certain of these transactions do not clear through accounts of the Treasurer of the United States.
* Less than $500,000.
May 1955
5
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary of Budget Results by Months and Years
(In millions of dollars)
<table><tr><th>Year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Total Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="15">Net budget receipts 2/</td></tr><tr><td>1932</td><td>112</td><td>110</td><td>270</td><td>109</td><td>149</td><td>282</td><td>82</td><td>96</td><td>243</td><td>124</td><td>108</td><td>336</td><td>2,174</td><td>1,924</td></tr><tr><td>1933</td><td>205</td><td>203</td><td>417</td><td>179</td><td>233</td><td>386</td><td>159</td><td>182</td><td>318</td><td>252</td><td>203</td><td>328</td><td>3,431</td><td>3,061</td></tr><tr><td>1934</td><td>197</td><td>208</td><td>595</td><td>221</td><td>241</td><td>458</td><td>214</td><td>282</td><td>443</td><td>251</td><td>241</td><td>377</td><td>3,792</td><td>3,730</td></tr><tr><td>1935</td><td>225</td><td>216</td><td>750</td><td>228</td><td>254</td><td>527</td><td>274</td><td>294</td><td>417</td><td>229</td><td>230</td><td>427</td><td>4,333</td><td>4,069</td></tr><tr><td>1936</td><td>236</td><td>225</td><td>964</td><td>313</td><td>285</td><td>822</td><td>364</td><td>408</td><td>742</td><td>288</td><td>283</td><td>318</td><td>5,747</td><td>4,978</td></tr><tr><td>1937</td><td>290</td><td>304</td><td>910</td><td>257</td><td>369</td><td>730</td><td>267</td><td>444</td><td>672</td><td>295</td><td>345</td><td>668</td><td>5,550</td><td>5,768</td></tr><tr><td>1938</td><td>267</td><td>363</td><td>682</td><td>208</td><td>340</td><td>552</td><td>260</td><td>365</td><td>671</td><td>272</td><td>357</td><td>513</td><td>4,851</td><td>5,103</td></tr><tr><td>1939</td><td>309</td><td>439</td><td>791</td><td>296</td><td>393</td><td>599</td><td>325</td><td>440</td><td>703</td><td>327</td><td>356</td><td>734</td><td>5,712</td><td>5,265</td></tr><tr><td>1940</td><td>334</td><td>411</td><td>1,557</td><td>383</td><td>386</td><td>1,270</td><td>407</td><td>390</td><td>1,128</td><td>437</td><td>558</td><td>1,205</td><td>8,167</td><td>7,227</td></tr><tr><td>1941</td><td>571</td><td>751</td><td>3,538</td><td>686</td><td>556</td><td>2,469</td><td>739</td><td>581</td><td>2,511</td><td>599</td><td>594</td><td>2,695</td><td>16,290</td><td>12,696</td></tr><tr><td>1942</td><td>783</td><td>949</td><td>5,202</td><td>1,508</td><td>1,472</td><td>4,567</td><td>2,001</td><td>2,714</td><td>5,441</td><td>2,024</td><td>2,093</td><td>5,730</td><td>31,483</td><td>22,202</td></tr><tr><td>1943</td><td>2,740</td><td>2,494</td><td>6,532</td><td>3,047</td><td>2,895</td><td>6,182</td><td>2,078</td><td>3,432</td><td>5,863</td><td>1,300</td><td>2,105</td><td>5,324</td><td>43,531</td><td>43,892</td></tr><tr><td>1944</td><td>3,459</td><td>3,613</td><td>6,661</td><td>2,786</td><td>2,900</td><td>5,702</td><td>2,435</td><td>2,656</td><td>5,875</td><td>1,453</td><td>2,322</td><td>4,067</td><td>43,328</td><td>44,762</td></tr><tr><td>1945</td><td>3,770</td><td>3,584</td><td>5,501</td><td>2,159</td><td>2,213</td><td>3,963</td><td>2,182</td><td>2,246</td><td>4,306</td><td>2,440</td><td>2,288</td><td>4,050</td><td>35,310</td><td>40,027</td></tr><tr><td>1946</td><td>3,785</td><td>4,196</td><td>5,342</td><td>1,962</td><td>2,297</td><td>4,929</td><td>2,281</td><td>2,438</td><td>4,612</td><td>2,339</td><td>2,692</td><td>4,197</td><td>41,010</td><td>40,043</td></tr><tr><td>1947</td><td>4,196</td><td>4,158</td><td>5,874</td><td>2,239</td><td>2,324</td><td>4,859</td><td>2,096</td><td>2,505</td><td>4,543</td><td>2,101</td><td>2,540</td><td>4,014</td><td>41,450</td><td>42,211</td></tr><tr><td>1948</td><td>3,579</td><td>3,381</td><td>5,435</td><td>1,340</td><td>1,945</td><td>4,767</td><td>1,946</td><td>2,479</td><td>4,832</td><td>1,881</td><td>2,344</td><td>4,191</td><td>38,122</td><td>38,246</td></tr><tr><td>1949</td><td>3,366</td><td>2,972</td><td>4,880</td><td>1,488</td><td>2,320</td><td>4,404</td><td>1,881</td><td>2,860</td><td>4,605</td><td>2,056</td><td>2,851</td><td>4,211</td><td>37,834</td><td>37,045</td></tr><tr><td>1950</td><td>4,448</td><td>4,257</td><td>8,112</td><td>2,626</td><td>3,146</td><td>7,089</td><td>2,571</td><td>3,594</td><td>6,209</td><td>2,635</td><td>3,521</td><td>5,279</td><td>53,488</td><td>48,143</td></tr><tr><td>1951</td><td>4,953</td><td>5,553</td><td>9,886</td><td>4,323</td><td>3,809</td><td>9,796</td><td>3,316</td><td>4,050</td><td>6,585</td><td>3,099</td><td>4,151</td><td>6,003</td><td>65,523</td><td>62,129</td></tr><tr><td>1952</td><td>5,061</td><td>5,479</td><td>10,502</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="15">Budget expenditure 3/</td></tr><tr><td>1932</td><td>334</td><td>346</td><td>428</td><td>442</td><td>433</td><td>466</td><td>495</td><td>347</td><td>261</td><td>435</td><td>266</td><td>368</td><td>5,017</td><td>4,559</td></tr><tr><td>1933</td><td>950</td><td>633</td><td>607</td><td>672</td><td>539</td><td>728</td><td>462</td><td>509</td><td>510</td><td>661</td><td>594</td><td>633</td><td>7,495</td><td>6,694</td></tr><tr><td>1934</td><td>457</td><td>490</td><td>541</td><td>605</td><td>408</td><td>652</td><td>727</td><td>519</td><td>492</td><td>636</td><td>507</td><td>612</td><td>6,646</td><td>6,521</td></tr><tr><td>1935</td><td>458</td><td>459</td><td>571</td><td>625</td><td>551</td><td>2,336</td><td>425</td><td>592</td><td>659</td><td>680</td><td>532</td><td>651</td><td>6,539</td><td>8,493</td></tr><tr><td>1936</td><td>587</td><td>513</td><td>696</td><td>668</td><td>505</td><td>1,248</td><td>574</td><td>501</td><td>617</td><td>565</td><td>491</td><td>671</td><td>7,635</td><td>7,756</td></tr><tr><td>1937</td><td>513</td><td>450</td><td>687</td><td>667</td><td>417</td><td>786</td><td>666</td><td>703</td><td>751</td><td>777</td><td>967</td><td>835</td><td>8,220</td><td>6,938</td></tr><tr><td>1938</td><td>653</td><td>585</td><td>785</td><td>665</td><td>694</td><td>884</td><td>956</td><td>1,020</td><td>692</td><td>752</td><td>631</td><td>835</td><td>9,151</td><td>8,966</td></tr><tr><td>1939</td><td>677</td><td>624</td><td>798</td><td>710</td><td>605</td><td>884</td><td>843</td><td>801</td><td>738</td><td>891</td><td>888</td><td>1,137</td><td>9,645</td><td>9,183</td></tr><tr><td>1940</td><td>1,133</td><td>1,076</td><td>1,408</td><td>1,404</td><td>1,352</td><td>1,591</td><td>1,631</td><td>1,668</td><td>1,989</td><td>2,328</td><td>1,300</td><td>2,684</td><td>20,229</td><td>13,387</td></tr><tr><td>1941</td><td>2,680</td><td>2,652</td><td>3,515</td><td>3,939</td><td>4,400</td><td>4,810</td><td>5,257</td><td>5,456</td><td>5,921</td><td>6,184</td><td>6,012</td><td>6,926</td><td>57,751</td><td>34,187</td></tr><tr><td>1942</td><td>6,728</td><td>6,358</td><td>7,746</td><td>7,300</td><td>7,475</td><td>8,260</td><td>7,499</td><td>7,831</td><td>7,667</td><td>7,619</td><td>7,947</td><td>7,744</td><td>90,174</td><td>73,622</td></tr><tr><td>1943</td><td>7,737</td><td>8,012</td><td>10,412</td><td>7,337</td><td>6,879</td><td>8,631</td><td>8,014</td><td>8,208</td><td>7,779</td><td>8,034</td><td>7,811</td><td>8,327</td><td>97,181</td><td>95,315</td></tr><tr><td>1944</td><td>8,142</td><td>7,127</td><td>9,034</td><td>7,758</td><td>8,927</td><td>9,540</td><td>8,561</td><td>6,949</td><td>6,372</td><td>5,619</td><td>4,530</td><td>4,962</td><td>87,522</td><td>98,703</td></tr><tr><td>1945</td><td>4,811</td><td>3,340</td><td>3,598</td><td>3,750</td><td>3,374</td><td>4,836</td><td>3,287</td><td>2,745</td><td>2,663</td><td>2,860</td><td>2,453</td><td>3,605</td><td>41,322</td><td>60,703</td></tr><tr><td>1946</td><td>3,019</td><td>3,731</td><td>3,239</td><td>3,407</td><td>3,284</td><td>4,996</td><td>3,553</td><td>2,962</td><td>2,673</td><td>2,394</td><td>2,143</td><td>3,176</td><td>38,576</td><td>39,289</td></tr><tr><td>1947</td><td>2,800</td><td>2,224</td><td>3,086</td><td>2,541</td><td>2,222</td><td>4,018</td><td>3,741</td><td>2,335</td><td>3,066</td><td>2,911</td><td>3,163</td><td>4,102</td><td>36,209</td><td>33,791</td></tr><tr><td>1948</td><td>3,205</td><td>2,972</td><td>3,651</td><td>3,151</td><td>3,104</td><td>4,656</td><td>3,434</td><td>3,585</td><td>3,995</td><td>3,111</td><td>3,127</td><td>3,722</td><td>41,714</td><td>40,057</td></tr><tr><td>1949</td><td>3,323</td><td>2,496</td><td>3,269</td><td>2,847</td><td>2,962</td><td>4,296</td><td>3,013</td><td>2,515</td><td>3,520</td><td>3,170</td><td>3,102</td><td>3,742</td><td>38,255</td><td>40,167</td></tr><tr><td>1950</td><td>3,808</td><td>3,211</td><td>4,058</td><td>4,007</td><td>4,517</td><td>5,969</td><td>4,739</td><td>5,087</td><td>5,163</td><td>5,483</td><td>5,178</td><td>5,627</td><td>56,846</td><td>44,633</td></tr><tr><td>1951</td><td>5,455</td><td>5,105</td><td>5,704</td><td>6,016</td><td>5,659</td><td>6,930</td><td>6,742</td><td>5,018</td><td>6,070</td><td>6,383</td><td>5,161</td><td>7,124</td><td>71,366</td><td>66,145</td></tr><tr><td>1952</td><td>5,737</td><td>5,595</td><td>6,187</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="15">Budget surplus, or deficit (-)</td></tr><tr><td>1932</td><td>-222</td><td>-236</td><td>-158</td><td>-333</td><td>-284</td><td>-104</td><td>-413</td><td>-251</td><td>-18</td><td>-311</td><td>-158</td><td>-32</td><td>-2,735</td><td>-2,602</td></tr><tr><td>1933</td><td>-745</td><td>-430</td><td>-190</td><td>-492</td><td>-305</td><td>-342</td><td>-108</td><td>-122</td><td>-8</td><td>-244</td><td>-285</td><td>-358</td><td>-2,543</td><td>-3,630</td></tr><tr><td>1934</td><td>-260</td><td>-281</td><td>55</td><td>-383</td><td>-168</td><td>-194</td><td>-453</td><td>-226</td><td>-75</td><td>-407</td><td>-277</td><td>-185</td><td>-2,854</td><td>-2,791</td></tr><tr><td>1935</td><td>-233</td><td>-243</td><td>179</td><td>-397</td><td>-298</td><td>-1,809</td><td>-135</td><td>-253</td><td>-164</td><td>-413</td><td>-303</td><td>-137</td><td>-4,206</td><td>-4,425</td></tr><tr><td>1936</td><td>-351</td><td>-287</td><td>268</td><td>-354</td><td>-221</td><td>-426</td><td>-210</td><td>-93</td><td>125</td><td>-277</td><td>-209</td><td>148</td><td>-1,888</td><td>-2,777</td></tr><tr><td>1937</td><td>-223</td><td>-146</td><td>223</td><td>-410</td><td>-48</td><td>-56</td><td>-399</td><td>-259</td><td>-80</td><td>-483</td><td>-622</td><td>-166</td><td>-2,670</td><td>-1,177</td></tr><tr><td>1938</td><td>-385</td><td>-222</td><td>-103</td><td>-457</td><td>-354</td><td>-332</td><td>-696</td><td>-655</td><td>-21</td><td>-480</td><td>-273</td><td>-321</td><td>-4,300</td><td>-3,862</td></tr><tr><td>1939</td><td>-368</td><td>-184</td><td>-7</td><td>-414</td><td>-213</td><td>-285</td><td>-519</td><td>-361</td><td>-34</td><td>-564</td><td>-532</td><td>-452</td><td>-3,934</td><td>-3,918</td></tr><tr><td>1940</td><td>-799</td><td>-665</td><td>75</td><td>-1,022</td><td>-966</td><td>-321</td><td>-1,224</td><td>-1,278</td><td>-861</td><td>-1,891</td><td>-1,332</td><td>-1,479</td><td>-11,762</td><td>-6,159</td></tr><tr><td>1941</td><td>-2,109</td><td>-1,901</td><td>23</td><td>-3,253</td><td>-3,844</td><td>-2,341</td><td>-4,518</td><td>-4,875</td><td>-3,410</td><td>-5,585</td><td>-5,417</td><td>-4,231</td><td>-41,461</td><td>-21,499</td></tr><tr><td>1942</td><td>-5,946</td><td>-5,409</td><td>-2,543</td><td>-5,792</td><td>-6,002</td><td>-3,693</td><td>-5,498</td><td>-5,117</td><td>-2,227</td><td>-5,595</td><td>-5,854</td><td>-2,014</td><td>-55,691</td><td>-27,120</td></tr><tr><td>1943</td><td>-4,997</td><td>-5,518</td><td>-3,880</td><td>-4,291</td><td>-3,984</td><td>-2,449</td><td>-5,937</td><td>-5,776</td><td>-1,976</td><td>-6,134</td><td>-5,706</td><td>-3,004</td><td>-53,650</td><td>-51,142</td></tr><tr><td>1944</td><td>-4,683</td><td>-3,514</td><td>-2,373</td><td>-4,972</td><td>-6,028</td><td>-3,838</td><td>-6,126</td><td>-4,293</td><td>-1,497</td><td>-3,165</td><td>-2,208</td><td>-895</td><td>-43,594</td><td>-53,241</td></tr><tr><td>1945</td><td>-1,042</td><td>-243</td><td>1,902</td><td>-1,591</td><td>-1,131</td><td>-873</td><td>-1,105</td><td>-499</td><td>1,723</td><td>-420</td><td>-165</td><td>445</td><td>-2,512</td><td>-20,676</td></tr><tr><td>1946</td><td>706</td><td>464</td><td>2,102</td><td>-1,445</td><td>-987</td><td>-67</td><td>-1,272</td><td>-524</td><td>1,940</td><td>-55</td><td>549</td><td>1,022</td><td
Source: Daily Treasury Statement.
1/ Fiscal year ending June 30 of year indicated.
2/ Gross receipts less appropriations to Federal Old-Age and Survivors Insurance Trust Fund and refunds of receipts.
3/ Expenditures are "net", after allowance for reimbursements to appropriations, receipts of revolving fund appropriations, and receipts credited to disbursing accounts of corporations and agencies having authority to use collections without formal covering into the Treasury. The figures include transfers to trust accounts, transactions of the Foreign Economic Cooperation Trust Fund, established under the Economic Cooperation Act of 1948 (62 Stat. 150), and transactions of wholly owned Government corporations and agencies.
Beginning November 1950, investments by these corporations and agencies
in public debt securities are excluded from budget expenditures and included with other such investments under "Trust account and other transactions". Corresponding adjustments were made in November 1950 and January 1951 for net investments classified as budget expenditures in the period July through October. Budget expenditures exclude also amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law. Payments to the Treasury, principally by wholly owned Government corporations, for retirement of capital stock and disposition of earnings are excluded from both receipts and expenditures. Further information on capital transfers and the Foreign Economic Cooperation Trust Fund may be found in the 1952 Annual Report of the Secretary of the Treasury, pages 512 and 513.
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Excess of net receipts, or expenditures (-) 1/</th><th colspan="3">Gross receipts</th><th colspan="2">Deductions</th><th rowspan="2">Net receipts</th></tr><tr><th>Total</th><th>Social security taxes For old-age insurance 2/</th><th>For unemployment insurance 3/</th><th>Appropriations to Federal Old-Age and Survivors Insurance Trust Fund 4/</th><th>Refunds of social security taxes 5/</th></tr><tr><td>1945</td><td>-306.7</td><td>1,494.5</td><td>1,309.9</td><td>184.5</td><td>1,309.9</td><td>7.2</td><td>177.4</td></tr><tr><td>1946</td><td>-363.5</td><td>1,418.1</td><td>1,238.2</td><td>179.9</td><td>1,238.2</td><td>5.8</td><td>174.1</td></tr><tr><td>1947</td><td>-573.3</td><td>1,644.3</td><td>1,459.5</td><td>184.8</td><td>1,459.5</td><td>8.2</td><td>176.7</td></tr><tr><td>1948</td><td>-639.7</td><td>1,824.1</td><td>1,616.2</td><td>207.9</td><td>1,616.2</td><td>7.2</td><td>200.7</td></tr><tr><td>1949</td><td>-889.9</td><td>1,913.1</td><td>1,690.3</td><td>222.8</td><td>1,690.3</td><td>9.7</td><td>213.1</td></tr><tr><td>1950</td><td>-1,155.0</td><td>2,332.7</td><td>2,106.4</td><td>226.3</td><td>2,106.4</td><td>9.9</td><td>216.4</td></tr><tr><td>1951</td><td>-1,192.1</td><td>3,353.1</td><td>3,119.5</td><td>233.5</td><td>3,119.5</td><td>12.2</td><td>221.3</td></tr><tr><td>1952</td><td>-1,173.6</td><td>3,827.5</td><td>3,568.6</td><td>258.9</td><td>3,568.6</td><td>9.6</td><td>249.4</td></tr><tr><td>1952-July</td><td>-152.9</td><td>187.7</td><td>182.5</td><td>5.3</td><td>182.5</td><td>.5</td><td>4.7</td></tr><tr><td>August</td><td>-92.1</td><td>450.7</td><td>434.0</td><td>16.8</td><td>434.0</td><td>.4</td><td>16.3</td></tr><tr><td>September</td><td>-116.2</td><td>234.9</td><td>234.8</td><td>.1</td><td>234.8</td><td>.5</td><td>-.3</td></tr><tr><td>October</td><td>-188.1</td><td>207.5</td><td>204.3</td><td>3.2</td><td>204.3</td><td>.6</td><td>2.6</td></tr><tr><td>November</td><td>-108.6</td><td>547.8</td><td>532.7</td><td>15.1</td><td>532.7</td><td>.5</td><td>14.6</td></tr><tr><td>December</td><td>-102.3</td><td>304.3</td><td>302.9</td><td>1.4</td><td>302.9</td><td>.5</td><td>.9</td></tr><tr><td>1953-January</td><td>-164.5</td><td>133.1</td><td>117.4</td><td>15.7</td><td>117.4</td><td>.5</td><td>15.2</td></tr><tr><td>February</td><td>72.8</td><td>667.3</td><td>485.6</td><td>181.7</td><td>485.6</td><td>.4</td><td>181.3</td></tr><tr><td>March</td><td>3.9</td><td>438.6</td><td>424.5</td><td>14.0</td><td>424.5</td><td>.3</td><td>13.7</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th rowspan="2">Transfers to F.O.A. and S.I. Trust Fund</th><th colspan="7">Grants to States</th></tr><tr><th>Total</th><th>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Aid to disabled T/</th><th>Maternal and child health</th><th>Crippled children</th><th>Child welfare</th><th>Bureau of Employment Security</th></tr><tr><td>1945</td><td>484.1</td><td>32.2</td><td>-</td><td>451.9</td><td>333.6</td><td>52.8</td><td>10.0</td><td>-</td><td>5.4</td><td>3.8</td><td>1.4</td><td>54.4</td></tr><tr><td>1946</td><td>537.6</td><td>39.2</td><td>-</td><td>498.4</td><td>361.2</td><td>59.3</td><td>10.3</td><td>-</td><td>6.3</td><td>4.2</td><td>1.3</td><td>55.6</td></tr><tr><td>1947</td><td>750.0</td><td>25.5</td><td>.4</td><td>724.1</td><td>515.7</td><td>113.4</td><td>14.9</td><td>-</td><td>10.7</td><td>7.5</td><td>2.0</td><td>59.8</td></tr><tr><td>1948</td><td>840.4</td><td>20.1</td><td>.7</td><td>819.6</td><td>573.1</td><td>141.7</td><td>16.9</td><td>-</td><td>10.5</td><td>7.4</td><td>3.4</td><td>66.6</td></tr><tr><td>1949</td><td>1,103.0</td><td>14.6</td><td>3.3</td><td>1,085.1</td><td>710.8</td><td>190.0</td><td>20.3</td><td>-</td><td>11.3</td><td>8.2</td><td>3.7</td><td>140.7</td></tr><tr><td>1950</td><td>1,371.4</td><td>14.1</td><td>3.6</td><td>1,353.7</td><td>843.2</td><td>256.1</td><td>24.2</td><td>-</td><td>11.2</td><td>7.6</td><td>3.9</td><td>207.5</td></tr><tr><td>1951</td><td>1,413.4</td><td>17.8</td><td>3.7</td><td>1,391.8</td><td>826.1</td><td>316.5</td><td>26.2</td><td>17.0</td><td>12.9</td><td>9.7</td><td>5.5</td><td>178.0</td></tr><tr><td>1952</td><td>1,423.0</td><td>24.0</td><td>3.7</td><td>1,395.2</td><td>799.8</td><td>303.3</td><td>29.4</td><td>45.2</td><td>12.7</td><td>11.1</td><td>7.2</td><td>186.5</td></tr><tr><td>1952-July</td><td>157.7</td><td>2.0</td><td>-</td><td>155.7</td><td>97.5</td><td>37.9</td><td>3.7</td><td>6.3</td><td>2.1</td><td>1.7</td><td>1.6</td><td>4.8</td></tr><tr><td>August</td><td>108.4</td><td>2.0</td><td>-</td><td>106.4</td><td>70.3</td><td>27.0</td><td>2.7</td><td>4.4</td><td>.6</td><td>.3</td><td>.1</td><td>1.1</td></tr><tr><td>September</td><td>115.8</td><td>2.0</td><td>-</td><td>113.9</td><td>63.6</td><td>25.0</td><td>2.4</td><td>4.3</td><td>.6</td><td>.6</td><td>.7</td><td>16.7</td></tr><tr><td>October</td><td>190.8</td><td>2.0</td><td>-</td><td>188.8</td><td>92.0</td><td>34.7</td><td>3.5</td><td>5.9</td><td>2.0</td><td>1.4</td><td>.2</td><td>49.1</td></tr><tr><td>November</td><td>123.2</td><td>2.0</td><td>-</td><td>121.2</td><td>81.2</td><td>30.6</td><td>3.1</td><td>5.3</td><td>.5</td><td>.3</td><td>.1</td><td>.2</td></tr><tr><td>December</td><td>103.2</td><td>2.0</td><td>-</td><td>101.2</td><td>66.8</td><td>20.0</td><td>1.8</td><td>4.0</td><td>1.2</td><td>1.6</td><td>1.0</td><td>4.8</td></tr><tr><td>1953-January</td><td>179.7</td><td>1.9</td><td>-</td><td>177.8</td><td>84.7</td><td>32.6</td><td>2.9</td><td>5.2</td><td>1.7</td><td>.9</td><td>.5</td><td>49.3</td></tr><tr><td>February</td><td>108.5</td><td>1.9</td><td>-</td><td>106.6</td><td>66.5</td><td>26.7</td><td>2.5</td><td>3.9</td><td>1.2</td><td>1.2</td><td>.1</td><td>4.5</td></tr><tr><td>March</td><td>9.8</td><td>1.9</td><td>-</td><td>7.9</td><td>.6</td><td>.1</td><td>*</td><td>*</td><td>.6</td><td>.8</td><td>.9</td><td>4.9</td></tr></table>
Source: Daily Treasury Statement.
1/ Excess of expenditures is covered by appropriations by Congress.
2/ Taxes on employers and employees under the Federal Insurance Contributions Act and later amendments (26 U.S.C. 1400-1k32); and tax on self-employment income under the Social Security Act Amendments of 1950 (26 U.S.C. 480-482). The tax on self-employment income is levied and collected as part of the individual income tax beginning with the taxable year 1951. Beginning January 1951, the receipts shown here are based on estimates (see footnote 4).
3/ Tax on employers of 8 or more under the Federal Unemployment Tax Act and later amendments (26 U.S.C. 1600-1611). Figures exclude certain credits not to exceed 90 percent of the total tax which are allowed with respect to contributions by the taxpayer to a State fund under a State unemployment compensation law.
4/ Appropriation to the Federal Old-Age and Survivors Insurance Trust Fund equivalent to the amount of taxes collected and deposited for old-age insurance (42 U.S.C. 401 (a); see also footnote 2). The Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950, changed in certain respects the basis of transferring the appropriated funds to the trust fund. Effective January 1, 1951, the amounts transferred currently as appropriations to the trust fund are based on estimates of old-age insurance tax receipts made by the Secretary of the Treasury, and are adjusted in later transfers on the basis of wage and self-employment income
records maintained by the Federal Security Administrator. For purposes of this table, beginning January 1951, the same amount as is credited each month to the trust fund is shown as estimated current tax receipts for old-age insurance.
5/ Interest on refunds is included under "Administrative expenses".
6/ Includes expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act, as amended; administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended; administrative expenses under the Wagner-Feyser Act of 1933, as amended (29 U.S.C. 49d); and interest on refunds of social security taxes.
7/ Aid to permanently and totally disabled (Title IV) as added by Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950.
8/ For unemployment insurance and maintenances of public employment offices; includes expenditures made directly by the Federal Government beginning January 1942 for maintenance of employment offices, and expenditures of the U.S. Employment Service for the period December 1942 through June 1948, when it was not in the Bureau of Employment Security.
9/ Total includes expenditures for grant to States, Public Health Service, as follows; 1945, $10.7 million; and 1946, $2 million. After 1945 expenditures were made under provisions of the Public Health Service Act of 1944 (58 Stat. 682).
May 1955
7
BUDGET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Excess of net receipts, or expenditures (-) 1/</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th></tr><tr><th></th><th></th><th>Taxes on carriers and their employees</th><th>Deduction: Refunds of taxes on carriers and their employees 2/</th><th>Net receipts</th><th>Total</th><th>Administrative expenses 3/</th><th>Transfers to Railroad Retirement Account (trust account)</th></tr><tr><td>1945</td><td>-26.3</td><td>285.0</td><td>.2</td><td>284.8</td><td>311.1</td><td>2.3</td><td>308.8</td></tr><tr><td>1946</td><td>-12.8</td><td>282.6</td><td>.9</td><td>281.7</td><td>294.5</td><td>2.6</td><td>291.9</td></tr><tr><td>1947</td><td>77.3</td><td>380.1</td><td>*</td><td>380.0</td><td>302.8</td><td>4.3</td><td>298.5</td></tr><tr><td>1948</td><td>-206.5</td><td>557.1</td><td>*</td><td>557.0</td><td>763.5</td><td>5.0</td><td>758.5</td></tr><tr><td>1949</td><td>-15.5</td><td>563.8</td><td>.5</td><td>563.4</td><td>578.9</td><td>4.4</td><td>574.5</td></tr><tr><td>1950</td><td>-34.1</td><td>550.2</td><td>.5</td><td>549.6</td><td>583.7</td><td>.9</td><td>582.8</td></tr><tr><td>1951</td><td>-30.5</td><td>577.5</td><td>*</td><td>577.5</td><td>608.0</td><td>*</td><td>608.0</td></tr><tr><td>1952</td><td>-35.9</td><td>735.0</td><td>.2</td><td>734.8</td><td>770.7</td><td>*</td><td>770.7</td></tr><tr><td>1952-July</td><td>-32.9</td><td>16.5</td><td>*</td><td>16.5</td><td>49.3</td><td>*</td><td>49.3</td></tr><tr><td>August</td><td>3.1</td><td>89.2</td><td>*</td><td>89.2</td><td>86.1</td><td>*</td><td>86.1</td></tr><tr><td>September</td><td>.5</td><td>54.3</td><td>*</td><td>54.3</td><td>53.9</td><td>*</td><td>53.9</td></tr><tr><td>October</td><td>1.5</td><td>13.9</td><td>*</td><td>13.9</td><td>12.4</td><td>*</td><td>12.4</td></tr><tr><td>November</td><td>4.4</td><td>88.5</td><td>*</td><td>88.5</td><td>84.0</td><td>*</td><td>84.0</td></tr><tr><td>December</td><td>-6.1</td><td>52.9</td><td>.7</td><td>52.2</td><td>58.3</td><td>.1</td><td>58.2</td></tr><tr><td>1953-January</td><td>.7</td><td>14.2</td><td>*</td><td>14.2</td><td>13.4</td><td>*</td><td>13.4</td></tr><tr><td>February</td><td>-1.2</td><td>89.4</td><td>*</td><td>89.4</td><td>90.6</td><td>*</td><td>90.6</td></tr><tr><td>March</td><td>-4</td><td>51.8</td><td>*</td><td>51.8</td><td>52.2</td><td>.3</td><td>51.9</td></tr></table>
Source: Daily Treasury Statement.
1/ Excess of expenditures is covered by appropriations by Congress.
2/ Interest on refunds is included under "Administrative expenses".
3/ Consists of expenditures from appropriations made specifically
for administrative expenses relating to the Railroad Retirement Act through 1951, and interest on refunds of taxes (see footnote 2). * Less than $50,000.
Table 9.- Railroad Unemployment Insurance Act 1/- Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Excess of receipts, or expenditures (-) 2/</th><th colspan="2">Receipts</th><th colspan="3">Expenditures</th></tr><tr><th>Railroad unemployment insurance contributions 3/</th><th>Total</th><th>Administrative expenses 4/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 5/</th></tr><tr><td>1945</td><td>.6</td><td>13.2</td><td>12.6</td><td>3.7</td><td>8.9</td></tr><tr><td>1946</td><td>-.2</td><td>12.9</td><td>13.1</td><td>3.5</td><td>9.6</td></tr><tr><td>1947</td><td>.5</td><td>14.2</td><td>13.7</td><td>4.5</td><td>9.2</td></tr><tr><td>1948</td><td>-.6</td><td>14.5</td><td>15.1</td><td>5.5</td><td>9.7</td></tr><tr><td>1949</td><td>-5.1</td><td>9.7</td><td>14.8</td><td>5.9</td><td>9.0</td></tr><tr><td>1950</td><td>-3.2</td><td>9.1</td><td>12.3</td><td>6.9</td><td>5.4</td></tr><tr><td>1951</td><td>4.0</td><td>9.8</td><td>5.8</td><td>5.8</td><td>-</td></tr><tr><td>1952</td><td>.6</td><td>10.3</td><td>9.7</td><td>5.3</td><td>4.4</td></tr><tr><td>1952-July</td><td>-5.5</td><td>*</td><td>5.5</td><td>.6</td><td>4.9</td></tr><tr><td>August</td><td>-.3</td><td>.1</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>September</td><td>2.0</td><td>2.4</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>October</td><td>-.4</td><td>*</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>November</td><td>-.6</td><td>.1</td><td>.7</td><td>.7</td><td>-</td></tr><tr><td>December</td><td>1.8</td><td>2.4</td><td>.6</td><td>.6</td><td>-</td></tr><tr><td>1953-January</td><td>-.1</td><td>*</td><td>.1</td><td>.1</td><td>-</td></tr><tr><td>February</td><td>-.6</td><td>.2</td><td>.8</td><td>.8</td><td>-</td></tr><tr><td>March</td><td>2.1</td><td>2.3</td><td>.2</td><td>.2</td><td>-</td></tr></table>
Source: Daily Treasury Statement.
1/ Operated as Railroad Unemployment Insurance Administration Fund, for administrative expenses of the Railroad Retirement Board in administering the act (45 U.S.C. 361).
2/ Excesses of expenditures is covered by appropriations by Congress.
3/ Through 1948 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 1949, represents contributions equal to 0.2%
of the taxable pay roll; the remaining contributions are deposited in the Railroad Unemployment Insurance Account (45 U.S.C. 358 (f)). (See "Trust Account and Other Transactions", Table 7). 4/ Consists of expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act. 5/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct 10, 1940 (54 Stat. 1099). * Less than $50,000.
8
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Net of trust account and other transactions 1/</th><th colspan="3">Trust accounts, etc.</th><th>Net investments of Government agencies in public debt securities 2/</th><th colspan="2">Net redemptions, or sales (-), of securities of Government agencies in the market 2/</th></tr><tr><th></th><th></th><th>Net receipts, or expenditures (-)</th><th>Receipts</th><th>Expenditures (other than net investments)</th><th></th><th>Guaranteed</th><th>Not guaranteed</th></tr><tr><td>1945</td><td>791</td><td>7,544</td><td>7,086</td><td>-458</td><td>5,200</td><td>1,276</td><td>277</td></tr><tr><td>1946</td><td>-524</td><td>3,238</td><td>7,712</td><td>4,474</td><td>3,668</td><td>160</td><td>-66</td></tr><tr><td>1947</td><td>-1,103</td><td>2,619</td><td>6,244</td><td>3,625</td><td>3,362</td><td>387</td><td>-28</td></tr><tr><td>1948</td><td>-294</td><td>2,658</td><td>6,515 3/</td><td>3,857</td><td>3,060</td><td>16</td><td>-123</td></tr><tr><td>1949</td><td>-495</td><td>1,890</td><td>5,714</td><td>3,824 3/</td><td>2,311</td><td>46</td><td>28</td></tr><tr><td>1950</td><td>99</td><td>-281</td><td>6,669</td><td>6,950</td><td>-402</td><td>8</td><td>14</td></tr><tr><td>1951</td><td>679</td><td>3,852</td><td>7,796</td><td>3,945</td><td>3,557</td><td>-10</td><td>-374</td></tr><tr><td>1952</td><td>147</td><td>3,855</td><td>8,807</td><td>4,952</td><td>3,636</td><td>-16</td><td>88 4/</td></tr><tr><td>1953 (Estimated)</td><td>107</td><td>3,543</td><td>9,084</td><td>5,541</td><td>3,446</td><td>-22</td><td>13</td></tr><tr><td>1954 (Estimated)</td><td>27</td><td>3,259</td><td>9,547</td><td>6,287</td><td>3,344</td><td>25</td><td>-137</td></tr><tr><td>1952-July</td><td>-17</td><td>266</td><td>738</td><td>473</td><td>308</td><td>11</td><td>-37</td></tr><tr><td>August</td><td>77</td><td>403</td><td>959</td><td>556</td><td>397</td><td>-3</td><td>-66</td></tr><tr><td>September</td><td>422</td><td>500</td><td>427</td><td>-73</td><td>44</td><td>-1</td><td>34</td></tr><tr><td>October</td><td>-252</td><td>-186</td><td>401</td><td>587</td><td>21</td><td>-5</td><td>50</td></tr><tr><td>November</td><td>201</td><td>608</td><td>975</td><td>367</td><td>481</td><td>-6</td><td>-68</td></tr><tr><td>December</td><td>-265</td><td>131</td><td>747</td><td>617</td><td>349</td><td>-3</td><td>30</td></tr><tr><td>1953-January</td><td>-111</td><td>-10</td><td>286</td><td>296</td><td>130</td><td>6</td><td>-35</td></tr><tr><td>February</td><td>272</td><td>574</td><td>920</td><td>346</td><td>170</td><td>-2</td><td>134</td></tr><tr><td>March</td><td>-197</td><td>-109</td><td>649</td><td>758</td><td>100</td><td>-1</td><td>-11</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. 1/ Excess of receipts, or expenditures (-). 2/ Consists of transactions which clear through accounts of the Treasurer of the United States, except as noted in footnote 4.
3/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
4/ Beginning 1952, net transactions in Federal Intermediate Credit Bank issues are included even though certain of these transactions do not clear through the accounts of the Treasurer of the United States.
Table 2.- Trust Account Receipts
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement fund</th><th>Other trust funds and accounts</th></tr><tr><td>1945</td><td>7,086</td><td>1,434</td><td>324</td><td>1,508</td><td>2,127</td><td>97</td><td>557</td><td>1,038</td></tr><tr><td>1946</td><td>7,712</td><td>1,386</td><td>312</td><td>1,280</td><td>2,351</td><td>103</td><td>614</td><td>1,666</td></tr><tr><td>1947</td><td>6,244</td><td>1,623</td><td>323</td><td>1,289</td><td>1,504</td><td>134</td><td>578</td><td>792</td></tr><tr><td>1948</td><td>6,515 3/</td><td>1,807</td><td>797</td><td>1,313</td><td>740</td><td>90</td><td>294</td><td>1,174 3/</td></tr><tr><td>1949</td><td>5,714</td><td>1,924</td><td>625</td><td>1,173</td><td>690</td><td>92</td><td>680</td><td>529</td></tr><tr><td>1950</td><td>6,669</td><td>2,367</td><td>643</td><td>1,281</td><td>1,076</td><td>87</td><td>809</td><td>403</td></tr><tr><td>1951</td><td>7,796</td><td>3,411</td><td>678</td><td>1,542</td><td>684</td><td>86</td><td>890</td><td>243</td></tr><tr><td>1952</td><td>8,807</td><td>3,932</td><td>850</td><td>1,643</td><td>786</td><td>87</td><td>912</td><td>397</td></tr><tr><td>1953 (Estimated)</td><td>9,084</td><td>4,435</td><td>773</td><td>1,553</td><td>631</td><td>86</td><td>970</td><td>634</td></tr><tr><td>1954 (Estimated)</td><td>9,547</td><td>4,780</td><td>794</td><td>1,596</td><td>582</td><td>84</td><td>1,080</td><td>631</td></tr><tr><td>1952-July</td><td>738</td><td>184</td><td>49</td><td>55</td><td>53</td><td>3</td><td>363</td><td>31</td></tr><tr><td>August</td><td>959</td><td>439</td><td>86</td><td>328</td><td>41</td><td>3</td><td>34</td><td>28</td></tr><tr><td>September</td><td>427</td><td>249</td><td>54</td><td>19</td><td>40</td><td>1</td><td>36</td><td>29</td></tr><tr><td>October</td><td>401</td><td>222</td><td>13</td><td>48</td><td>40</td><td>4</td><td>34</td><td>41</td></tr><tr><td>November</td><td>975</td><td>538</td><td>85</td><td>263</td><td>36</td><td>2</td><td>34</td><td>17</td></tr><tr><td>December</td><td>747</td><td>469</td><td>59</td><td>112</td><td>37</td><td>2</td><td>39</td><td>29</td></tr><tr><td>1953-January</td><td>286</td><td>118</td><td>14</td><td>28</td><td>41</td><td>4</td><td>44</td><td>37</td></tr><tr><td>February</td><td>920</td><td>492</td><td>91</td><td>213</td><td>44</td><td>3</td><td>26</td><td>51</td></tr><tr><td>March</td><td>649</td><td>440</td><td>53</td><td>22</td><td>42</td><td>3</td><td>36</td><td>54</td></tr></table>
Source: See Table 1. 1/ Consists of Civil Service and Foreign Service Retirement funds. 2/ Includes Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, island possessions, increment resulting from reduction in the weight of the gold dollar, and through June 1950
seigniorage on silver under the Silver Purchase Act of 1934. Thereafter such seigniorage is included with other seigniorage under budget receipts. 3/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
May 1955
9
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 3.- Trust Account Expenditures Other Than Net Investments
(In millions of dollars; negative figures are excess of credits)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement funds 1/</th><th>Other trust funds and accounts 2/ 3/</th><th>Deposit fund accounts (net) 3/</th></tr><tr><td>1945</td><td>-458</td><td>267</td><td>141</td><td>72</td><td>128</td><td>25</td><td>151</td><td>428</td><td>-1,669</td></tr><tr><td>1946</td><td>4,474</td><td>358</td><td>152</td><td>1,146</td><td>280</td><td>50</td><td>267</td><td>1,574</td><td>647</td></tr><tr><td>1947</td><td>3,625</td><td>466</td><td>173</td><td>869</td><td>282</td><td>67</td><td>323</td><td>1,073</td><td>372</td></tr><tr><td>1948</td><td>3,857</td><td>559</td><td>222</td><td>859</td><td>302</td><td>70</td><td>244</td><td>1,234</td><td>367</td></tr><tr><td>1949</td><td>3,824 4/</td><td>661</td><td>278</td><td>1,314</td><td>348</td><td>61</td><td>222</td><td>526 4/</td><td>414</td></tr><tr><td>1950</td><td>6,950</td><td>784</td><td>304</td><td>2,026</td><td>2,988</td><td>114</td><td>268</td><td>370</td><td>96</td></tr><tr><td>1951</td><td>3,945</td><td>1,569</td><td>321</td><td>900</td><td>614</td><td>77</td><td>271</td><td>387</td><td>-194</td></tr><tr><td>1952</td><td>4,952</td><td>2,067</td><td>391</td><td>1,049</td><td>996</td><td>82</td><td>300</td><td>413</td><td>-346 5/</td></tr><tr><td>1953 (Estimated)</td><td>5,541</td><td>2,651</td><td>466</td><td>926</td><td>705</td><td>82</td><td>367</td><td>704</td><td>-360</td></tr><tr><td>1954 (Estimated)</td><td>6,287</td><td>3,169</td><td>482</td><td>977</td><td>629</td><td>82</td><td>384</td><td>670</td><td>-106</td></tr><tr><td>1952-July</td><td>473</td><td>179</td><td>39</td><td>92</td><td>64</td><td>9</td><td>27</td><td>71</td><td>-8</td></tr><tr><td>August</td><td>556</td><td>169</td><td>38</td><td>116</td><td>48</td><td>6</td><td>26</td><td>24</td><td>129</td></tr><tr><td>September</td><td>-73</td><td>208</td><td>37</td><td>71</td><td>49</td><td>6</td><td>28</td><td>18</td><td>-490</td></tr><tr><td>October</td><td>587</td><td>221</td><td>38</td><td>54</td><td>49</td><td>6</td><td>31</td><td>23</td><td>166</td></tr><tr><td>November</td><td>367</td><td>220</td><td>38</td><td>49</td><td>41</td><td>5</td><td>30</td><td>14</td><td>-31</td></tr><tr><td>December</td><td>617</td><td>262</td><td>39</td><td>77</td><td>48</td><td>5</td><td>31</td><td>41</td><td>114</td></tr><tr><td>1953-January</td><td>296</td><td>230</td><td>39</td><td>100</td><td>43</td><td>6</td><td>30</td><td>41</td><td>-192</td></tr><tr><td>February</td><td>346</td><td>237</td><td>38</td><td>94</td><td>44</td><td>7</td><td>29</td><td>32</td><td>-136</td></tr><tr><td>March</td><td>758</td><td>247</td><td>39</td><td>110</td><td>53</td><td>7</td><td>32</td><td>56</td><td>214</td></tr></table>
Source: See Table 1.
1/ Consists of Civil Service and Foreign Service Retirement funds. 2/ Includes Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, expenditures chargeable against increment on gold, and beginning 1950, Mutual Defense Assistance Trust Fund.
3/ Excludes net investments in public debt securities beginning 1951 (see Table 4, footnotes 3 and 4). 4/ Excludes Foreign Economic Cooperation Trust Fund (see page 1). 5/ Includes transactions by the Air Force and the Army beginning 1952.
Table 4.- Net Investments of Government Agencies in Public Debt Securities
(In millions of dollars; negative figures are excess of redemptions)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Total trust account, etc.</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement funde 2/</th><th>Other trust funds and accounts 3/</th><th>Government corporations and agencies 4/</th></tr><tr><td>1945</td><td>5,200</td><td>5,200</td><td>1,137</td><td>182</td><td>1,437</td><td>1,974</td><td>73</td><td>399</td><td>-2</td><td>-</td></tr><tr><td>1946</td><td>3,668</td><td>3,668</td><td>1,002</td><td>156</td><td>102</td><td>2,053</td><td>47</td><td>309</td><td>-2</td><td>-</td></tr><tr><td>1947</td><td>3,362</td><td>3,362</td><td>1,194</td><td>148</td><td>443</td><td>1,234</td><td>60</td><td>282</td><td>*</td><td>-</td></tr><tr><td>1948</td><td>3,060</td><td>3,060</td><td>1,194</td><td>569</td><td>446</td><td>461</td><td>32</td><td>363</td><td>-6</td><td>-</td></tr><tr><td>1949</td><td>2,311</td><td>2,311</td><td>1,294</td><td>346</td><td>-160</td><td>353</td><td>32</td><td>447</td><td>*</td><td>-</td></tr><tr><td>1950</td><td>-402</td><td>-402</td><td>1,414</td><td>338</td><td>-724</td><td>-1,946</td><td>-26</td><td>543</td><td>*</td><td>-</td></tr><tr><td>1951</td><td>3,557</td><td>3,369</td><td>1,678</td><td>357</td><td>650</td><td>94</td><td>8</td><td>573</td><td>9</td><td>187</td></tr><tr><td>1952</td><td>3,636</td><td>3,355</td><td>1,950</td><td>449</td><td>583</td><td>-245</td><td>1</td><td>624</td><td>-6</td><td>281</td></tr><tr><td>1953 (Estimated)</td><td>3,446</td><td>3,328</td><td>1,824</td><td>304</td><td>626</td><td>-32</td><td>6</td><td>606</td><td>-6</td><td>118</td></tr><tr><td>1954 (Estimated)</td><td>3,344</td><td>3,195</td><td>1,608</td><td>311</td><td>626</td><td>-48</td><td>3</td><td>694</td><td>2</td><td>149</td></tr><tr><td>1952-July</td><td>308</td><td>308</td><td>-</td><td>11</td><td>-35</td><td>1</td><td>-</td><td>330</td><td>1</td><td>*</td></tr><tr><td>August</td><td>397</td><td>351</td><td>101</td><td>51</td><td>214</td><td>-14</td><td>-6</td><td>15</td><td>-10</td><td>46</td></tr><tr><td>September</td><td>44</td><td>53</td><td>74</td><td>17</td><td>-40</td><td>-2</td><td>-</td><td>4</td><td>-</td><td>-9</td></tr><tr><td>October</td><td>21</td><td>37</td><td>70</td><td>-25</td><td>-8</td><td>-12</td><td>-3</td><td>*</td><td>15</td><td>-16</td></tr><tr><td>November</td><td>481</td><td>394</td><td>137</td><td>44</td><td>211</td><td>-</td><td>-6</td><td>3</td><td>6</td><td>87</td></tr><tr><td>December</td><td>349</td><td>357</td><td>305</td><td>20</td><td>34</td><td>-</td><td>..</td><td>4</td><td>-6</td><td>-8</td></tr><tr><td>1953-January</td><td>130</td><td>-112</td><td>12</td><td>-25</td><td>-85</td><td>-10</td><td>-3</td><td>7</td><td>-2</td><td>242</td></tr><tr><td>February</td><td>170</td><td>223</td><td>31</td><td>53</td><td>121</td><td>15</td><td>-2</td><td>6</td><td>*</td><td>-54</td></tr><tr><td>March</td><td>100</td><td>61</td><td>141</td><td>15</td><td>-85</td><td>-10</td><td>-3</td><td>4</td><td>*</td><td>38</td></tr></table>
Source: See Table 1.
1/ Consists of transactions which clear through accounts of the Treasurer of the United States.
2/ Consists of Civil Service and Foreign Service retirement funds.
3/ Consists of Adjusted Service Certificate Fund prior to 1951; beginning with that year, includes also investments of other accounts which for prior years are included in Table 3 under "Other trust funds, and accounts" and "Deposits fund accounts (net)".
Consists of net investments of Government corporations which for prior years are included in Table 3 under "Deposit fund accounts (net)", and net investments of wholly owned Government corporations and agencies, which for prior years are included in budget expenditures.
* Less than $500,000.
10
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 5.- Federal Old-Age and Survivors Insurance Trust Fund
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease (-), in assets</th><th colspan="3">Assets, end of period</th></tr><tr><th>Total</th><th>Appropriations by Congress 2/</th><th>Interest and profits on investment</th><th>Transfers from General Fund</th><th>Deposits by States 3/</th><th>Total</th><th>Benefit payments</th><th>Administrative expense</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1937-45</td><td>7,549.8</td><td>7,021.3</td><td>528.5</td><td>-</td><td>-</td><td>936.4</td><td>783.5</td><td>152.9</td><td>6,613.4</td><td>6,613.4</td><td>6,546.3</td><td>67.1</td></tr><tr><td>1946</td><td>1,386.0</td><td>1,238.2</td><td>147.8</td><td>-</td><td>-</td><td>357.9</td><td>320.5</td><td>37.4</td><td>1,028.0</td><td>7,641.4</td><td>7,548.7</td><td>92.7</td></tr><tr><td>1947</td><td>1,623.3</td><td>1,459.5</td><td>163.5</td><td>.4</td><td>-</td><td>466.4</td><td>425.6</td><td>15.6</td><td>1,157.0</td><td>8,798.4</td><td>8,742.3</td><td>56.1</td></tr><tr><td>1948</td><td>1,807.4</td><td>1,616.2</td><td>190.6</td><td>.7</td><td>-</td><td>559.1</td><td>511.7</td><td>13.0</td><td>1,218.3</td><td>10,046.7</td><td>9,936.8</td><td>109.9</td></tr><tr><td>1949</td><td>1,923.8</td><td>1,690.3</td><td>230.2</td><td>3.3</td><td>-</td><td>660.5</td><td>607.0</td><td>13.8</td><td>1,263.3</td><td>11,309.9</td><td>11,230.7</td><td>79.3</td></tr><tr><td>1950</td><td>2,366.8</td><td>2,106.4</td><td>256.8</td><td>3.6</td><td>-</td><td>784.1</td><td>727.3</td><td>13.7</td><td>1,582.7</td><td>12,892.6</td><td>12,644.8</td><td>247.8</td></tr><tr><td>1951</td><td>3,411.5</td><td>3,119.5</td><td>287.4</td><td>3.7</td><td>.9</td><td>1,568.5</td><td>1,498.1</td><td>17.5</td><td>1,843.0</td><td>14,735.6</td><td>14,322.8</td><td>412.8</td></tr><tr><td>1952</td><td>3,931.5 6/</td><td>3,568.6</td><td>333.5</td><td>3.7</td><td>25.7</td><td>2,067.1</td><td>1,982.4</td><td>23.7</td><td>1,864.5</td><td>16,600.0</td><td>16,273.1</td><td>327.0</td></tr><tr><td>1953 (Est.)</td><td>4,435.0</td><td>4,000.0</td><td>395.0</td><td>-</td><td>40.0</td><td>2,650.5</td><td>2,560.0</td><td>23.6</td><td>1,784.5</td><td>18,384.6</td><td>18,097.0</td><td>287.5</td></tr><tr><td>1954 (Est.)</td><td>4,779.8</td><td>4,298.0</td><td>431.8</td><td>-</td><td>50.0</td><td>3,169.0</td><td>3,079.1</td><td>24.0</td><td>1,610.8</td><td>19,995.4</td><td>19,705.0</td><td>290.4</td></tr><tr><td>1952-July</td><td>183.7</td><td>182.5</td><td>-</td><td>-</td><td>1.2</td><td>179.2</td><td>169.5</td><td>2.0</td><td>4.5</td><td>16,604.5</td><td>16,273.1</td><td>331.5</td></tr><tr><td>Aug.</td><td>438.5</td><td>434.0</td><td>-</td><td>-</td><td>4.6</td><td>169.4</td><td>162.8</td><td>2.0</td><td>269.1</td><td>16,873.6</td><td>16,374.1</td><td>499.6</td></tr><tr><td>Sept.</td><td>249.0</td><td>234.8</td><td>10.9</td><td>-</td><td>3.3</td><td>207.7</td><td>200.9</td><td>2.0</td><td>41.3</td><td>16,914.9</td><td>16,447.9</td><td>467.1</td></tr><tr><td>Oct.</td><td>221.8</td><td>204.3</td><td>14.8</td><td>-</td><td>2.7</td><td>220.9</td><td>213.9</td><td>2.0</td><td>1.0</td><td>16,915.9</td><td>16,518.2</td><td>397.7</td></tr><tr><td>Nov.</td><td>538.3</td><td>532.7</td><td>-</td><td>-</td><td>5.7</td><td>219.9</td><td>213.3</td><td>2.0</td><td>318.4</td><td>17,234.3</td><td>16,655.2</td><td>579.1</td></tr><tr><td>Dec.</td><td>469.3</td><td>302.9</td><td>163.5</td><td>-</td><td>2.9</td><td>261.9</td><td>219.7</td><td>35.0</td><td>207.4</td><td>17,441.7</td><td>16,960.4</td><td>481.3</td></tr><tr><td>1953-Jan.</td><td>118.1</td><td>117.4</td><td>-</td><td>-</td><td>.7</td><td>230.1</td><td>223.2</td><td>1.9</td><td>-111.9</td><td>17,329.8</td><td>16,972.4</td><td>357.4</td></tr><tr><td>Feb.</td><td>491.7</td><td>485.6</td><td>-</td><td>-</td><td>6.2</td><td>236.5</td><td>229.5</td><td>1.9</td><td>255.2</td><td>17,585.0</td><td>17,003.4</td><td>581.6</td></tr><tr><td>Mar.</td><td>439.9</td><td>424.5</td><td>10.9</td><td>-</td><td>4.4</td><td>247.3</td><td>240.1</td><td>1.9</td><td>192.6</td><td>17,777.6</td><td>17,144.4</td><td>633.2</td></tr><tr><td>1937 to date....</td><td>27,150.5 6/</td><td>24,738.6</td><td>2,338.2</td><td>15.4</td><td>58.3</td><td>9,373.0</td><td>8,728.9</td><td>338.2</td><td>17,777.6</td><td>17,777.5</td><td>17,144.4</td><td>633.2</td></tr></table>
Source: See Table 1. 1/ Includes transactions under the predecessor Old-Age Reserve Account. 2/ For basis, see "Budget Receipts and Expenditures", Table 7. 3/ Under Title II of the Social Security Act, Section 218 (e) as added by Section 106 of the Public Law 734, approved August 28, 1950. 4/ Under Section 201 (f), Social Security Act Amendments of 1939, as amended. Amount for December 1952 includes $33 million estimated taxes subject to refund, on wages paid in calendar year 1951.
5/ Salaries and expenses of the Bureau of Old-Age and Survivors Insurance, paid directly from the Trust Fund under Labor-Federal Security Appropriation Act, 1947 (60 Stat. 679); and beginning 1949, also administrative expenses reimbursed to the Federal Security Agency. 6/ Beginning November 1951 the total includes "Other" receipts, in the nature of recoveries from expenditures incidental to the operation of the trust fund.
Table 6.- Railroad Retirement Account
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease (-), in assets</th><th colspan="3">Assets, end of period</th></tr><tr><th>Total 1/</th><th>Appropriations by Congress 1/</th><th>Interest on investments</th><th>Total</th><th>Benefit payments</th><th>Administrative expenses 2/</th><th>Total</th><th>Investment</th><th>Unexpended balance</th></tr><tr><td>1936-45....</td><td>1,468.2</td><td>1,425.7</td><td>42.4</td><td>952.5</td><td>952.5</td><td>-</td><td>515.6</td><td>515.6</td><td>500.5</td><td>15.1</td></tr><tr><td>1946......</td><td>312.0</td><td>292.1</td><td>19.9</td><td>152.0</td><td>152.0</td><td>-</td><td>160.1</td><td>675.7</td><td>657.0</td><td>18.7</td></tr><tr><td>1947......</td><td>322.4</td><td>295.2</td><td>24.2</td><td>173.3</td><td>173.3</td><td>-</td><td>149.1</td><td>824.9</td><td>805.5</td><td>19.4</td></tr><tr><td>1948......</td><td>797.4</td><td>758.5</td><td>38.9</td><td>222.3</td><td>222.3</td><td>-</td><td>575.1</td><td>1,399.9</td><td>1,374.5</td><td>25.4</td></tr><tr><td>1949......</td><td>677.4</td><td>626.5</td><td>50.9</td><td>278.2</td><td>278.2</td><td>-</td><td>399.2</td><td>1,799.1</td><td>1,720.0</td><td>79.1</td></tr><tr><td>1950......</td><td>749.2</td><td>687.0</td><td>62.2</td><td>304.4</td><td>299.9</td><td>4.5</td><td>444.8</td><td>2,244.0</td><td>2,057.6</td><td>186.4</td></tr><tr><td>1951......</td><td>561.0</td><td>490.8</td><td>70.2</td><td>321.0</td><td>316.2</td><td>4.9</td><td>240.0</td><td>2,483.9</td><td>2,414.5</td><td>69.4</td></tr><tr><td>1952......</td><td>829.7</td><td>750.8 3/</td><td>78.9</td><td>390.7</td><td>384.6</td><td>6.1</td><td>439.0</td><td>2,922.9</td><td>2,863.1</td><td>59.8</td></tr><tr><td>1953 (Eet.)</td><td>773.3</td><td>683.5</td><td>89.8</td><td>465.6</td><td>459.4</td><td>6.2</td><td>307.7</td><td>3,230.7</td><td>3,167.0</td><td>63.7</td></tr><tr><td>1954 (Eet.)</td><td>793.8</td><td>694.9</td><td>98.9</td><td>482.4</td><td>476.0</td><td>6.4</td><td>311.4</td><td>3,542.0</td><td>3,477.7</td><td>64.3</td></tr><tr><td>1952-July.</td><td>49.4</td><td>49.3</td><td>.1</td><td>38.7</td><td>38.1</td><td>.6</td><td>10.7</td><td>2,933.7</td><td>2,874.0</td><td>59.7</td></tr><tr><td>Aug...</td><td>86.2</td><td>86.1</td><td>.2</td><td>37.7</td><td>37.2</td><td>.5</td><td>48.6</td><td>2,982.2</td><td>2,924.9</td><td>57.3</td></tr><tr><td>Sept...</td><td>54.2</td><td>53.9</td><td>.3</td><td>37.4</td><td>36.9</td><td>.5</td><td>16.8</td><td>2,999.0</td><td>2,941.8</td><td>57.2</td></tr><tr><td>Oct...</td><td>12.7</td><td>12.4</td><td>.4</td><td>37.6</td><td>37.2</td><td>.4</td><td>-24.8</td><td>2,974.1</td><td>2,916.6</td><td>57.5</td></tr><tr><td>Nov...</td><td>84.5</td><td>84.0</td><td>.5</td><td>38.0</td><td>37.6</td><td>.4</td><td>46.5</td><td>3,020.7</td><td>2,960.2</td><td>60.5</td></tr><tr><td>Dec...</td><td>58.8</td><td>58.2</td><td>.6</td><td>39.2</td><td>38.5</td><td>.7</td><td>19.6</td><td>3,040.3</td><td>2,980.4</td><td>59.9</td></tr><tr><td>1953-Jan...</td><td>13.6</td><td>12.9</td><td>.7</td><td>38.6</td><td>37.9</td><td>.7</td><td>-25.0</td><td>3,015.3</td><td>2,955.8</td><td>59.5</td></tr><tr><td>Feb...</td><td>91.4</td><td>90.6</td><td>.8</td><td>38.0</td><td>37.6</td><td>.3</td><td>53.4</td><td>3,068.7</td><td>3,008.4</td><td>60.3</td></tr><tr><td>Mar...</td><td>52.7</td><td>51.9</td><td>.9</td><td>38.7</td><td>38.3</td><td>.4</td><td>14.0</td><td>3,082.7</td><td>3,023.0</td><td>59.7</td></tr><tr><td>1936 to date....</td><td>6,220.8</td><td>5,828.9</td><td>391.9</td><td>3,138.1</td><td>3,118.2</td><td>19.9</td><td>3,082.7</td><td>3,082.7</td><td>3,023.0</td><td>59.7</td></tr></table>
Source: See Table 1. 1/ Totals may differ from those in Table 2. Prior to fiscal year 1952, appropriations were included in Table 6 when made but were included in Table 2 when amounts were transferred from the General Fund. Effective July 1951, pursuant to Public Law 134, approved August 31, 1951, the appropriation is equal to the amount of taxes deposited in the Treasury
(lose refunds) under the Railroad Retirement Act, and transfers are made currently, subject to later minor adjustments.
2/ Paid from the trust fund under Title IV, act of June 29, 1949 (63 Stat. 297).
3/ Appropriation in November 1951 reduced $19.8 million by surplus warrant pursuant to Section 1214 of Public Law 759, approved September 6, 1950.
May 1955
11
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 7.- Unemployment Trust Fund
(In millions or dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th colspan="4">Receipts</th><th rowspan="2">Interest on investments</th><th colspan="4">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease (-), in assets</th><th colspan="3">Assets, end of period</th></tr><tr><th>State accounts</th><th colspan="3">Railroad Unemployment Insurance Account 1/</th><th>Total</th><th>State accounts</th><th colspan="2">Railroad Unemployment Insurance Account 1/</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th>Deposits by States</th><th>Contributions 2/</th><th>Transfers from States 3/</th><th>Transfers from Administration Fund 4/</th><th></th><th></th><th>Withdrawals by States</th><th>Transfers to Railroad Unemployment Insurance Account 3/</th><th>Benefit payments</th><th></th><th></th><th></th></tr><tr><td>1936-45.</td><td>9,688.6</td><td>8,540.3</td><td>502.5</td><td>106.3</td><td>38.0</td><td>501.5</td><td>2,373.4</td><td>2,222.5</td><td>106.3</td><td>44.6</td><td>7,315.3</td><td>7,315.3</td><td>7,307.2</td><td>8.1</td></tr><tr><td>1946.</td><td>1,279.8</td><td>1,009.9</td><td>116.2</td><td>.4</td><td>9.6</td><td>143.6</td><td>1,145.9</td><td>1,128.3</td><td>.4</td><td>17.2</td><td>133.9</td><td>7,449.1</td><td>7,409.0</td><td>40.1</td></tr><tr><td>1947.</td><td>1,289.4</td><td>1,005.3</td><td>127.6</td><td>.4</td><td>9.2</td><td>146.9</td><td>869.5</td><td>817.4</td><td>.5</td><td>51.7</td><td>419.9</td><td>7,869.0</td><td>7,852.0</td><td>17.0</td></tr><tr><td>1948.</td><td>1,312.9</td><td>1,007.3</td><td>130.6</td><td>-</td><td>9.7</td><td>165.3</td><td>858.9</td><td>798.1</td><td>-</td><td>60.8</td><td>454.0</td><td>8,323.0</td><td>8,298.4</td><td>24.6</td></tr><tr><td>1949.</td><td>1,173.2</td><td>984.0</td><td>.1</td><td>-</td><td>9.0</td><td>180.1</td><td>1,313.8</td><td>1,227.1</td><td>-</td><td>86.7 5/</td><td>-110.6</td><td>8,182.4</td><td>8,138.3</td><td>44.1</td></tr><tr><td>1950.</td><td>1,281.0</td><td>1,098.8</td><td>9.7</td><td>-</td><td>5.4</td><td>167.1</td><td>2,025.5</td><td>1,879.0</td><td>-</td><td>146.5 5/</td><td>-744.5</td><td>7,437.9</td><td>7,414.3</td><td>23.6</td></tr><tr><td>1951.</td><td>1,541.6</td><td>1,362.6</td><td>14.9</td><td>-</td><td>-</td><td>164.1</td><td>900.3</td><td>848.3</td><td>-</td><td>52.0</td><td>641.3</td><td>8,079.2</td><td>8,064.2</td><td>15.0</td></tr><tr><td>1952.</td><td>1,643.3</td><td>1,439.0</td><td>15.4</td><td>-</td><td>4.4</td><td>184.5</td><td>1,048.6</td><td>1,000.3</td><td>-</td><td>48.3</td><td>594.7</td><td>8,673.9</td><td>8,647.1</td><td>26.9</td></tr><tr><td>1953 (Est.)</td><td>1,553.2</td><td>1,330.0</td><td>16.0</td><td>-</td><td>4.9</td><td>202.4</td><td>926.1</td><td>850.0</td><td>-</td><td>76.1</td><td>627.2</td><td>9,301.1</td><td>9,273.1</td><td>28.0</td></tr><tr><td>1954 (Est.)</td><td>1,595.7</td><td>1,366.0</td><td>16.0</td><td>-</td><td>5.1</td><td>208.6</td><td>976.8</td><td>900.0</td><td>-</td><td>76.8</td><td>613.9</td><td>9,920.0</td><td>9,899.1</td><td>20.9</td></tr><tr><td>1952-July.</td><td>55.2</td><td>50.3</td><td>*</td><td>-</td><td>4.9</td><td>*</td><td>92.0</td><td>84.8</td><td>-</td><td>7.2</td><td>-36.8</td><td>8,637.2</td><td>8,612.1</td><td>25.1</td></tr><tr><td>Aug.</td><td>328.2</td><td>328.0</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>115.9</td><td>103.9</td><td>-</td><td>12.0</td><td>212.2</td><td>8,849.4</td><td>8,826.1</td><td>23.3</td></tr><tr><td>Sept.</td><td>19.0</td><td>15.1</td><td>3.6</td><td>-</td><td>-</td><td>.3</td><td>71.5</td><td>63.5</td><td>-</td><td>8.0</td><td>-52.4</td><td>8,797.0</td><td>8,786.1</td><td>10.9</td></tr><tr><td>Oct.</td><td>47.8</td><td>39.4</td><td>*</td><td>-</td><td>-</td><td>8.4</td><td>53.6</td><td>46.0</td><td>-</td><td>7.6</td><td>-5.7</td><td>8,791.2</td><td>8,778.1</td><td>13.1</td></tr><tr><td>Nov.</td><td>262.9</td><td>262.8</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>49.4</td><td>42.8</td><td>-</td><td>6.6</td><td>213.5</td><td>9,004.8</td><td>8,989.1</td><td>15.7</td></tr><tr><td>Dec.</td><td>111.6</td><td>17.6</td><td>3.6</td><td>-</td><td>-</td><td>90.4</td><td>77.2</td><td>69.0</td><td>-</td><td>8.2</td><td>34.4</td><td>9,039.2</td><td>9,023.1</td><td>16.1</td></tr><tr><td>1953-Jan.</td><td>28.1</td><td>28.0</td><td>*</td><td>-</td><td>-</td><td>.1</td><td>99.7</td><td>89.1</td><td>-</td><td>10.6</td><td>-71.6</td><td>8,967.6</td><td>8,938.1</td><td>29.5</td></tr><tr><td>Feb.</td><td>213.3</td><td>212.9</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>94.4</td><td>85.6</td><td>-</td><td>8.8</td><td>118.8</td><td>9,086.4</td><td>9,059.1</td><td>27.4</td></tr><tr><td>Mar.</td><td>21.3</td><td>17.9</td><td>3.5</td><td>-</td><td>-</td><td>.5</td><td>110.2</td><td>100.5</td><td>-</td><td>9.7</td><td>-88.4</td><td>8,998.0</td><td>8,974.1</td><td>24.0</td></tr><tr><td>1936 to date.</td><td>20,297.3</td><td>17,419.4</td><td>928.4</td><td>107.2</td><td>90.2</td><td>1,752.7</td><td>11,299.8</td><td>10,606.1</td><td>137.2</td><td>586.5 5/</td><td>8,998.0</td><td>8,998.0</td><td>8,974.1</td><td>24.0</td></tr></table>
Source: See Table 1.
1/ Excludes interim advance of $15 million from the Treasury and subsequent repayment, both taking place in the fiscal year 1940.
2/ Represents contributions under the Railroad Unemployment Insurance Act of 1938, as amended (45 U.S.C. 360 (a)), in excess of the amount specified for administrative expenses. (See "Budget Receipts and Expenditures", Table 9).
3/ Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxes collected with respect to
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, 1940 (54 Stat. 1099).
5/ Includes transfers to the Railroad Unemployment Administration Fund as follows: $9.7 million in 1949 and $2.6 million in 1950, representing adjustment for over-collections due to retroactive change in tax rate (45 U.S.C. 358 (e)).
* Less than $50,000.
Table 8.- National Service Life Insurance Fund
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures other than investments</th><th>Net increase, or decrease (-), in assets</th><th colspan="3">Assets, and of period</th></tr><tr><th></th><th>Total</th><th>Premiums and other receipts</th><th>Transfers from General Fund</th><th>Interest on investments</th><th>Total</th><th>Benefits and refunds</th><th>Special dividends</th><th></th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1941-45....</td><td>3,398.0</td><td>2,064.4</td><td>1,249.3</td><td>84.4</td><td>166.4</td><td>166.4</td><td>-</td><td>3,231.6</td><td>3,231.6</td><td>3,187.1</td><td>44.4</td></tr><tr><td>1946......</td><td>2,351.0</td><td>844.7</td><td>1,381.4</td><td>124.9</td><td>279.8</td><td>279.8</td><td>-</td><td>2,071.2</td><td>5,302.8</td><td>5,239.7</td><td>63.1</td></tr><tr><td>1947......</td><td>1,504.1</td><td>516.6</td><td>816.7</td><td>170.9</td><td>279.3</td><td>279.3</td><td>-</td><td>1,224.8</td><td>6,527.6</td><td>6,473.7</td><td>53.9</td></tr><tr><td>1948......</td><td>739.7</td><td>387.5</td><td>153.0</td><td>199.2</td><td>301.9</td><td>301.9</td><td>-</td><td>437.7</td><td>6,965.3</td><td>6,934.7</td><td>30.6</td></tr><tr><td>1949......</td><td>690.1</td><td>392.8</td><td>87.0</td><td>210.3</td><td>348.1</td><td>348.1</td><td>-</td><td>341.9</td><td>7,307.2</td><td>7,287.7</td><td>19.6</td></tr><tr><td>1950......</td><td>1,076.4</td><td>398.7</td><td>472.8</td><td>205.0</td><td>2,987.9</td><td>354.9</td><td>2,633.0</td><td>-1,911.5</td><td>5,395.7</td><td>5,342.1</td><td>53.6</td></tr><tr><td>1951......</td><td>683.7</td><td>480.1</td><td>43.4</td><td>160.3</td><td>613.6</td><td>391.4</td><td>222.2</td><td>70.1</td><td>5,465.8</td><td>5,435.6</td><td>30.2</td></tr><tr><td>1952......</td><td>786.0</td><td>426.4</td><td>203.5</td><td>156.2</td><td>996.3</td><td>455.5</td><td>540.8</td><td>-210.2</td><td>5,255.6</td><td>5,190.6</td><td>64.9</td></tr><tr><td>1953 (Est.)</td><td>631.3</td><td>391.0</td><td>84.3</td><td>156.0</td><td>705.1</td><td>705.1</td><td>-</td><td>-73.8</td><td>5,181.7</td><td>5,158.6</td><td>23.1</td></tr><tr><td>1954 (Est.)</td><td>581.6</td><td>381.0</td><td>45.6</td><td>155.0</td><td>629.1</td><td>629.1</td><td>-</td><td>-47.6</td><td>5,134.2</td><td>5,110.6</td><td>23.5</td></tr><tr><td>1952-July</td><td>53.2</td><td>43.3</td><td>9.9</td><td>*</td><td>63.9</td><td>45.9</td><td>18.0</td><td>-10.7</td><td>5,244.9</td><td>5,191.7</td><td>53.1</td></tr><tr><td>Aug...</td><td>40.8</td><td>32.7</td><td>8.0</td><td>.1</td><td>47.7</td><td>36.7</td><td>11.0</td><td>-6.9</td><td>5,237.9</td><td>5,178.2</td><td>59.7</td></tr><tr><td>Sept...</td><td>39.8</td><td>29.5</td><td>10.3</td><td>*</td><td>48.6</td><td>36.0</td><td>12.5</td><td>-8.7</td><td>5,229.2</td><td>5,176.6</td><td>52.6</td></tr><tr><td>Oct...</td><td>39.8</td><td>31.0</td><td>8.7</td><td>.1</td><td>49.0</td><td>36.3</td><td>12.7</td><td>-9.2</td><td>5,220.0</td><td>5,164.5</td><td>55.5</td></tr><tr><td>Nov...</td><td>35.7</td><td>27.3</td><td>8.4</td><td>-</td><td>40.8</td><td>32.3</td><td>8.5</td><td>-5.2</td><td>5,214.8</td><td>5,164.5</td><td>50.4</td></tr><tr><td>Dec...</td><td>37.3</td><td>29.1</td><td>8.2</td><td>-</td><td>48.0</td><td>36.6</td><td>11.5</td><td>-10.7</td><td>5,204.1</td><td>5,164.5</td><td>39.6</td></tr><tr><td>1953-Jan..</td><td>40.7</td><td>34.5</td><td>6.0</td><td>.2</td><td>42.5</td><td>33.8</td><td>8.7</td><td>-1.9</td><td>5,202.3</td><td>5,154.5</td><td>47.8</td></tr><tr><td>Feb...</td><td>43.8</td><td>33.4</td><td>10.4</td><td>*</td><td>44.4</td><td>33.9</td><td>10.5</td><td>-.6</td><td>5,201.7</td><td>5,169.5</td><td>32.2</td></tr><tr><td>Mar...</td><td>41.7</td><td>35.9</td><td>5.6</td><td>.2</td><td>52.8</td><td>35.7</td><td>17.1</td><td>-11.0</td><td>5,190.7</td><td>5,159.5</td><td>31.2</td></tr><tr><td>1941 to date....</td><td>11,601.8</td><td>5,807.7</td><td>4,482.5</td><td>1,311.6</td><td>6,411.1</td><td>2,904.5</td><td>3,506.6</td><td>5,190.7</td><td>5,190.7</td><td>5,159.5</td><td>31.2</td></tr></table>
Source: See Table 1. * Less than $50,000.
12
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
Table 1.- Summary of Cash Transactions
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Cash operating income</th><th colspan="4">Cash operating outgo</th><th rowspan="2">Net cash operating income, or outgo (-)</th><th rowspan="2">Net cash borrowing, or repayment of borrowing (-)</th><th rowspan="2">Increase, or decrease (-), in General Fund balance</th><th rowspan="2">Memorandum: Net receipts from exercise of monetary authority 2/</th></tr><tr><th>Cash budget receipts</th><th>Cash trust account receipts</th><th>Total</th><th>Cash budget expenditures</th><th>Cash trust account expenditures</th><th>Exchange Stabilization Fund 1/</th><th>Clearing account for outstanding checks, etc.</th><th>Total</th></tr><tr><td>1945</td><td>45,519</td><td>4,721</td><td>50,240</td><td>95,952</td><td>-768</td><td>-</td><td>-</td><td>95,184</td><td>-44,945</td><td>49,474</td><td>4,529</td><td>78</td></tr><tr><td>1946</td><td>38,902</td><td>4,937</td><td>43,839</td><td>57,422</td><td>4,316</td><td>-</td><td>-</td><td>61,738</td><td>-17,899</td><td>7,439</td><td>-10,460</td><td>302</td></tr><tr><td>1947</td><td>39,884</td><td>3,707</td><td>43,591</td><td>33,190</td><td>3,270</td><td>1,026</td><td>-555</td><td>36,931</td><td>6,659</td><td>-19,389</td><td>-10,930</td><td>3/</td></tr><tr><td>1948</td><td>41,804</td><td>3,595</td><td>45,400</td><td>32,482</td><td>2,944</td><td>563</td><td>507</td><td>36,496</td><td>8,903</td><td>-7,280</td><td>1,624</td><td>37</td></tr><tr><td>1949</td><td>38,145</td><td>3,483</td><td>41,628</td><td>37,517</td><td>3,328</td><td>98</td><td>-366</td><td>40,576</td><td>1,051</td><td>-2,513</td><td>-1,462</td><td>46</td></tr><tr><td>1950</td><td>36,925</td><td>4,046</td><td>40,970</td><td>36,977</td><td>6,868</td><td>-207</td><td>-483</td><td>43,155</td><td>-2,185</td><td>4,231</td><td>2,047</td><td>25</td></tr><tr><td>1951</td><td>47,887</td><td>5,552</td><td>53,439</td><td>41,795</td><td>3,807</td><td>-13</td><td>214</td><td>45,804</td><td>7,635</td><td>-5,795</td><td>1,839</td><td>43</td></tr><tr><td>1952</td><td>61,991</td><td>6,102</td><td>68,093</td><td>62,599</td><td>4,947</td><td>9</td><td>401</td><td>67,956</td><td>137</td><td>-525</td><td>-388</td><td>68</td></tr><tr><td>1953 (Est.)</td><td>68,512</td><td>6,441</td><td>74,953</td><td>71,313</td><td>5,545</td><td>11</td><td>-25</td><td>76,843</td><td>-1,891</td><td>921</td><td>-969</td><td>55</td></tr><tr><td>1954 (Est.)</td><td>68,460</td><td>6,769</td><td>75,228</td><td>75,505</td><td>6,292</td><td>-</td><td>5</td><td>81,801</td><td>-6,574</td><td>6,574</td><td>-</td><td>73</td></tr><tr><td>1952-July</td><td>3,292</td><td>300</td><td>3,593</td><td>6,211</td><td>468</td><td>-14</td><td>-432</td><td>6,233</td><td>-2,640</td><td>3,597</td><td>957</td><td>5</td></tr><tr><td>August</td><td>4,047</td><td>831</td><td>4,878</td><td>4,848</td><td>554</td><td>25</td><td>195</td><td>5,622</td><td>-744</td><td>-229</td><td>-973</td><td>5</td></tr><tr><td>September</td><td>6,583</td><td>316</td><td>6,898</td><td>5,911</td><td>-74</td><td>-</td><td>229</td><td>6,066</td><td>832</td><td>-628</td><td>204</td><td>5</td></tr><tr><td>October</td><td>3,096</td><td>322</td><td>3,418</td><td>6,242</td><td>589</td><td>-</td><td>-316</td><td>6,514</td><td>-3,097</td><td>2,116</td><td>-981</td><td>5</td></tr><tr><td>November</td><td>4,149</td><td>848</td><td>4,997</td><td>4,950</td><td>364</td><td>-</td><td>243</td><td>5,558</td><td>-561</td><td>2,022</td><td>1,461</td><td>3</td></tr><tr><td>December</td><td>5,932</td><td>388</td><td>6,320</td><td>6,620</td><td>594</td><td>5</td><td>145</td><td>7,364</td><td>-1,044</td><td>-527</td><td>-1,572</td><td>5</td></tr><tr><td>1953-January</td><td>5,018</td><td>221</td><td>5,239</td><td>5,555</td><td>287</td><td>-</td><td>-401</td><td>5,442</td><td>-203</td><td>-173</td><td>-376</td><td>4</td></tr><tr><td>February</td><td>5,475</td><td>792</td><td>6,267</td><td>5,427</td><td>344</td><td>-19</td><td>2</td><td>5,754</td><td>513</td><td>-178</td><td>335</td><td>2</td></tr><tr><td>March</td><td>10,499</td><td>543</td><td>11,042</td><td>6,059</td><td>757</td><td>19</td><td>135</td><td>6,970</td><td>4,072</td><td>-3,188</td><td>884</td><td>3</td></tr><tr><td>1953 to date</td><td>48,091</td><td>4,561</td><td>52,651</td><td>51,824</td><td>3,884</td><td>16</td><td>-200</td><td>55,524</td><td>-2,873</td><td>2,812</td><td>-61</td><td>38</td></tr></table>
Source: Actual figures based on Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953.
1/ The U. S. subscription to the capital of the International Monetary Fund was paid in part from the Exchange Stabilization Fund (see "Treasury Bulletin" for September 1947, page 17).
2/ Consists of seigniorage on silver and increment resulting from reduction
in weight of the gold dollar. This item is part of the cash budget receipts shown in these tables, but is excluded from the Budget figures for "Receipts from the public". In addition to this decrease in the General Fund balance, the Exchange Stabilization Fund was drawn down by $1,800 million for subscription to the capital of the International Monetary Fund.
Table 2.- Derivation of Cash Budget Receipts
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Net budget receipts 1/</th><th rowspan="2">Plus: Noncash items deducted from budget receipts - excess profits tax refund bonds 2/</th><th colspan="5">Less: Noncash budget receipts</th><th rowspan="2">Equals: Cash budget receipts</th></tr><tr><th>Total</th><th colspan="2">Payments to Treasury by Government agencies</th><th>Repayment of capital stock and paid-in surplus 3/</th><th>Reimbursement for administrative expenses 4/</th></tr><tr><th></th><th></th><th></th><th></th><th>R. F. C.</th><th>Other</th><th></th><th></th><th></th></tr><tr><td>1945</td><td>44,762</td><td>894</td><td>136</td><td>83</td><td>26</td><td>-</td><td>27</td><td>45,519</td></tr><tr><td>1946</td><td>40,027</td><td>-970</td><td>155</td><td>90</td><td>27</td><td>-</td><td>37</td><td>38,902</td></tr><tr><td>1947</td><td>40,013</td><td>-39</td><td>120</td><td>91</td><td>13</td><td>-</td><td>16</td><td>39,884</td></tr><tr><td>1948</td><td>42,211</td><td>-10</td><td>396</td><td>89</td><td>23</td><td>270</td><td>14</td><td>41,804</td></tr><tr><td>1949</td><td>38,246</td><td>-4</td><td>96</td><td>1</td><td>34</td><td>38</td><td>24</td><td>38,145</td></tr><tr><td>1950</td><td>37,045</td><td>-1</td><td>119</td><td>17</td><td>57</td><td>27</td><td>17</td><td>36,925</td></tr><tr><td>1951</td><td>48,143</td><td>-1</td><td>255</td><td>20</td><td>149</td><td>65</td><td>21</td><td>47,887</td></tr><tr><td>1952</td><td>62,129</td><td>-1</td><td>137</td><td>5</td><td>95</td><td>10</td><td>26</td><td>61,991</td></tr><tr><td>1953 (Est.)</td><td>58,697</td><td>*</td><td>185</td><td>4</td><td>150</td><td>-</td><td>31</td><td>68,512</td></tr><tr><td>1954 (Est.)</td><td>58,665</td><td>*</td><td>205</td><td>4</td><td>168</td><td>-</td><td>33</td><td>68,460</td></tr><tr><td>1952-July</td><td>3,316</td><td>*</td><td>24</td><td>2</td><td>19</td><td>-</td><td>3</td><td>3,292</td></tr><tr><td>August</td><td>4,050</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>2</td><td>4,047</td></tr><tr><td>September</td><td>6,505</td><td>*</td><td>3</td><td>*</td><td>*</td><td>-</td><td>2</td><td>6,583</td></tr><tr><td>October</td><td>3,099</td><td>*</td><td>4</td><td>*</td><td>1</td><td>-</td><td>2</td><td>3,096</td></tr><tr><td>November</td><td>4,151</td><td>*</td><td>3</td><td>-</td><td>*</td><td>-</td><td>2</td><td>4,149</td></tr><tr><td>December</td><td>6,003</td><td>*</td><td>71</td><td>-</td><td>36</td><td>-</td><td>35</td><td>5,932</td></tr><tr><td>1953-January</td><td>5,061</td><td>*</td><td>43</td><td>2</td><td>34</td><td>-</td><td>8</td><td>5,018</td></tr><tr><td>February</td><td>5,479</td><td>*</td><td>3</td><td>-</td><td>1</td><td>-</td><td>2</td><td>5,475</td></tr><tr><td>March</td><td>10,502</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>2</td><td>10,499</td></tr></table>
Source: See Table 1.
1/ For further detail, see "Budget Receipts and Expenditures", Table 1.
2/ Deduction from budget receipts of the tax refunds represented by these bonds is treated as a noncash deduction at the time of issuance of the bonds and as a cash deduction at the time of redemption of the bonds (see Table 5); nat issuance, or redemption (-).
3/ By Government corporations not wholly owned.
By Federal Old-Age and Survivors Insurance Trust Fund through October 1948. Thereafter includes also transfers from Railroad Unemployment Insurance Account to Railroad Unemployment Administration Fund (see "Trust Account and Other Transactions", Table 7), and reimbursement by the District of Columbia. Less than $500,000.
May 1955
13
TREASURY CASH INCOME AND OUTGO
Table 3.- Derivation of Cash Budget Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total budget expenditures 1/</th><th colspan="3">Interest payments by Treasury</th><th rowspan="2">Transfers to trust accounts</th><th colspan="4">Payroll deductions for Government employees' retirement</th><th colspan="2">Payments to Treasury by Government agencies</th><th rowspan="2">Equals: Cash budget expenditures</th></tr><tr><th>Total</th><th>On savings bonds and Treasury bills 2/</th><th>To Government corporations not wholly owned 3/</th><th>To trust funds and accounts</th><th>Armed forces leave bonds</th><th>Adjusted service bonds</th><th>Notes issued to International Bank and Fund</th><th>Interest</th><th>Investments in Federal securities</th></tr><tr><td>1945</td><td>98,703</td><td>2,750</td><td>342</td><td>4</td><td>429</td><td>1,699</td><td>290</td><td>-</td><td>-108</td><td>-</td><td>108</td><td>25</td><td>95,952</td></tr><tr><td>1946</td><td>60,703</td><td>3,281</td><td>435</td><td>22</td><td>567</td><td>1,927</td><td>281</td><td>-</td><td>-86</td><td>-</td><td>118</td><td>18</td><td>57,422</td></tr><tr><td>1947</td><td>39,289</td><td>6,099</td><td>467</td><td>25</td><td>646</td><td>1,361</td><td>259</td><td>1,846</td><td>-8</td><td>1,366</td><td>105</td><td>31</td><td>33,190</td></tr><tr><td>1948</td><td>33,791</td><td>1,309</td><td>559</td><td>24</td><td>746</td><td>1,178</td><td>236</td><td>-1,221</td><td>-4</td><td>-350</td><td>112</td><td>30</td><td>32,482</td></tr><tr><td>1949</td><td>40,057</td><td>2,540</td><td>580</td><td>29</td><td>841</td><td>916</td><td>327</td><td>-164</td><td>-2</td><td>-25</td><td>33</td><td>6</td><td>37,517</td></tr><tr><td>1950</td><td>40,167</td><td>3,190</td><td>574</td><td>32</td><td>880</td><td>1,383</td><td>358</td><td>-95</td><td>-2</td><td>-41</td><td>73</td><td>28</td><td>36,977</td></tr><tr><td>1951</td><td>44,633</td><td>2,837</td><td>638</td><td>31</td><td>892</td><td>972</td><td>378</td><td>-160</td><td>-1</td><td>-</td><td>87</td><td>-</td><td>41,795</td></tr><tr><td>1952</td><td>66,145</td><td>3,546</td><td>779</td><td>34</td><td>987</td><td>1,305</td><td>411</td><td>-68</td><td>-1</td><td>-</td><td>100</td><td>-</td><td>62,599</td></tr><tr><td>1953 (Est.)</td><td>74,593</td><td>3,280</td><td>490</td><td>37</td><td>1,104</td><td>1,107</td><td>430</td><td>-40</td><td>-1</td><td>-</td><td>154</td><td>-</td><td>71,313</td></tr><tr><td>1954 (Est.)</td><td>78,587</td><td>3,082</td><td>125</td><td>39</td><td>1,190</td><td>1,189</td><td>397</td><td>-30</td><td>*</td><td>-</td><td>172</td><td>-</td><td>75,505</td></tr><tr><td>1952-July</td><td>6,742</td><td>531</td><td>77</td><td>*</td><td>*</td><td>397</td><td>39</td><td>-3</td><td>*</td><td>-</td><td>21</td><td>-</td><td>6,211</td></tr><tr><td>Aug.</td><td>5,018</td><td>170</td><td>44</td><td>*</td><td>*</td><td>94</td><td>33</td><td>-2</td><td>*</td><td>-</td><td>*</td><td>-</td><td>4,848</td></tr><tr><td>Sept.</td><td>6,070</td><td>159</td><td>49</td><td>1</td><td>12</td><td>64</td><td>35</td><td>-3</td><td>*</td><td>-</td><td>*</td><td>-</td><td>5,911</td></tr><tr><td>Oct.</td><td>6,383</td><td>141</td><td>58</td><td>5</td><td>24</td><td>23</td><td>33</td><td>-2</td><td>*</td><td>-</td><td>1</td><td>-</td><td>6,242</td></tr><tr><td>Nov.</td><td>5,161</td><td>210</td><td>84</td><td>-</td><td>1</td><td>93</td><td>34</td><td>-1</td><td>*</td><td>-</td><td>*</td><td>-</td><td>4,950</td></tr><tr><td>Dec.</td><td>7,124</td><td>504</td><td>97</td><td>13</td><td>255</td><td>67</td><td>38</td><td>-2</td><td>*</td><td>-</td><td>36</td><td>-</td><td>6,620</td></tr><tr><td>1953-Jan.</td><td>5,737</td><td>182</td><td>84</td><td>-</td><td>2</td><td>20</td><td>43</td><td>-2</td><td>*</td><td>-</td><td>35</td><td>-</td><td>5,555</td></tr><tr><td>Feb.</td><td>5,595</td><td>168</td><td>40</td><td>*</td><td>2</td><td>101</td><td>25</td><td>-2</td><td>*</td><td>-</td><td>1</td><td>-</td><td>5,427</td></tr><tr><td>Mar.</td><td>6,187</td><td>128</td><td>23</td><td>1</td><td>13</td><td>58</td><td>35</td><td>-2</td><td>*</td><td>-</td><td>*</td><td>-</td><td>6,059</td></tr></table>
Source: See Table 1.
1/ For further detail, see "Budget Receipts and Expenditure", Table 2.
2/ Accrued discount on savings bonds and bills less interest paid on savings bonds and bills redeemed.
3/ Payments to wholly owned Government corporations are not deducted be
cause they are treated as negative expenditures when received by corporations.
h/ Treated as noncash expenditures at the time of issuance and as cash expenditures at the time of redemption; net issuance, or redemption (-).
* Less than $500,000.
Table 4.- Derivation of Cash Trust Account Transactions
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust account receipts</th><th colspan="4">Less: Noncash receipts</th><th>Equals: Cash trust account receipts</th><th>Total trust account and other expenditures 2/</th><th colspan="3">Less: Noncash expenditures</th><th>Equals: Cash trust account expenditures</th></tr><tr><th></th><th></th><th>Total noncash receipts</th><th>Interest on investments in Federal securities</th><th>Transferred as budget expenditures</th><th>Payroll deductions for Government employees' retirement</th><th>Other 1/</th><th></th><th>Total noncash expenditures</th><th>Net investments in Federal securities By trust funds and accounts</th><th>By Government agencies 3/</th><th>Other 4/</th></tr><tr><td>1945</td><td>7,086</td><td>2,365</td><td>429</td><td>1,646</td><td>290</td><td>-</td><td>4,721</td><td>6,294</td><td>5,200</td><td>299</td><td>1,563</td><td>-768</td></tr><tr><td>1946</td><td>7,712</td><td>2,775</td><td>567</td><td>1,927</td><td>281</td><td>-</td><td>4,937</td><td>8,236</td><td>3,668</td><td>141</td><td>110</td><td>4,316</td></tr><tr><td>1947</td><td>6,244</td><td>2,538</td><td>646</td><td>1,361</td><td>259</td><td>271</td><td>3,707</td><td>7,317</td><td>3,362</td><td>147</td><td>568</td><td>3,270</td></tr><tr><td>1948</td><td>6,515</td><td>2,920</td><td>746</td><td>1,178</td><td>236</td><td>760</td><td>3,595</td><td>6,810</td><td>3,060</td><td>-99</td><td>904</td><td>2,944</td></tr><tr><td>1949</td><td>5,714</td><td>2,232</td><td>841</td><td>916</td><td>327</td><td>148</td><td>3,483</td><td>6,209</td><td>2,311</td><td>313</td><td>258</td><td>3,328</td></tr><tr><td>1950</td><td>6,669</td><td>2,683</td><td>880</td><td>1,383</td><td>358</td><td>2</td><td>4,046</td><td>6,570</td><td>-298</td><td>69</td><td>37</td><td>6,868</td></tr><tr><td>1951</td><td>7,796</td><td>2,244</td><td>892</td><td>972</td><td>378</td><td>2</td><td>5,552</td><td>7,117</td><td>3,310</td><td>187</td><td>-246</td><td>3,807</td></tr><tr><td>1952</td><td>8,807</td><td>2,705</td><td>987</td><td>1,305</td><td>411</td><td>3</td><td>6,102</td><td>8,660</td><td>3,713</td><td>281</td><td>77</td><td>4,947</td></tr><tr><td>1953 (Est.)</td><td>9,084</td><td>2,643</td><td>1,104</td><td>1,107</td><td>430</td><td>2</td><td>6,441</td><td>8,977</td><td>3,432</td><td>3,328</td><td>118</td><td>-114</td><td>5,545</td></tr><tr><td>1954 (Est.)</td><td>9,547</td><td>2,778</td><td>1,190</td><td>1,189</td><td>397</td><td>2</td><td>6,769</td><td>9,520</td><td>3,228</td><td>3,195</td><td>149</td><td>-116</td><td>6,292</td></tr><tr><td>1952-July</td><td>738</td><td>438</td><td>*</td><td>397</td><td>39</td><td>2</td><td>300</td><td>755</td><td>288</td><td>308</td><td>*</td><td>-21</td><td>468</td></tr><tr><td>Aug.</td><td>959</td><td>128</td><td>*</td><td>94</td><td>33</td><td>-</td><td>831</td><td>882</td><td>327</td><td>351</td><td>46</td><td>-69</td><td>554</td></tr><tr><td>Sept.</td><td>427</td><td>111</td><td>12</td><td>64</td><td>35</td><td>-</td><td>316</td><td>5</td><td>79</td><td>53</td><td>-9</td><td>35</td><td>-74</td></tr><tr><td>Oct.</td><td>401</td><td>79</td><td>24</td><td>23</td><td>33</td><td>-</td><td>322</td><td>653</td><td>64</td><td>37</td><td>-16</td><td>43</td><td>589</td></tr><tr><td>Nov.</td><td>975</td><td>127</td><td>1</td><td>93</td><td>34</td><td>-</td><td>848</td><td>774</td><td>410</td><td>394</td><td>87</td><td>-71</td><td>364</td></tr><tr><td>Dec.</td><td>747</td><td>360</td><td>255</td><td>67</td><td>38</td><td>-</td><td>388</td><td>1,012</td><td>418</td><td>357</td><td>-8</td><td>69</td><td>594</td></tr><tr><td>1953-Jan.</td><td>286</td><td>65</td><td>2</td><td>20</td><td>43</td><td>-</td><td>221</td><td>397</td><td>109</td><td>-112</td><td>242</td><td>-21</td><td>287</td></tr><tr><td>Feb.</td><td>920</td><td>128</td><td>2</td><td>101</td><td>25</td><td>-</td><td>792</td><td>648</td><td>304</td><td>223</td><td>-54</td><td>135</td><td>344</td></tr><tr><td>Mar.</td><td>649</td><td>106</td><td>13</td><td>58</td><td>35</td><td>-</td><td>543</td><td>846</td><td>89</td><td>61</td><td>38</td><td>-11</td><td>757</td></tr></table>
Source: See Table 1. 
1/ Includes proceeds of ship sales carried in trust accounts pending allocation to budget receipts from sale of surplus property, and District of Columbia contribution for employees' retirement fund. Figures for 1947 and 1948 include $53 million and $8 million, respectively, of armed forces leave bonds redeemed for insurance premiums; after August 31, 1947, these bonds were redeemable for cash. 
2/ Includes net investments of Government agencies in public debt securities and net redemption, or issuances (-), in the market of securities of Government agencies (see "Trust Account and Other Transactions", Table 1
3/ Prior to 1951 consists of net investments of corporations not wholly owned; beginning with that year, includes also those of wholly owned corporations and agencies which for prior years are included in budget expenditures.
4/ Includes proceeds of ship sales (see footnote 1); District of Columbia contribution for employees' retirement fund; payment of earnings or repayment of capital stock and paid-in surplus by corporations not wholly owned; and net redemption, or issuance (-), in the market of securities of Government agencies.
* Less than $500,000.
14
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Increase, or decrease (-), in Federal securities outstanding</th><th rowspan="2">Total</th><th colspan="9">Loss: Noncash debt transactions</th><th rowspan="2">Plus: Cash issuance of non-guaranteed securities of Federal agencies</th><th rowspan="2">Equals: Net cash borrowing, or repayment of borrowing (-) 5/</th></tr><tr><th>Public debt</th><th>Guaranteed securities</th><th>Total Federal securities</th><th>Net investments in Federal securities</th><th>Issuance of Federal securities resulting from budget expenditures, etc., or refunds of receipts</th><th>Interest on savings bonds and Treasury bills</th><th>Net transactions in guaranteed securities not reflected in Treasurer's accounts</th></tr><tr><th></th><th></th><th></th><th></th><th>By trust funds and accounts</th><th>By Government agencies</th><th>Armed forces leave bonds 1/</th><th>Adjusted service bonds 1/</th><th>Notes for International Bank 1/ 2/</th><th>Excess profit tax refund bonds 3/</th><th></th><th></th><th></th><th></th></tr><tr><td>1945</td><td>57,679</td><td>-1,190</td><td>56,489</td><td>6,738</td><td>5,200</td><td>324</td><td>-</td><td>-103</td><td>-</td><td>894</td><td>342</td><td>86</td><td>-277</td><td>49,474</td></tr><tr><td>1946</td><td>10,740</td><td>43</td><td>10,783</td><td>3,409</td><td>3,668</td><td>159</td><td>-</td><td>-86</td><td>-</td><td>-970</td><td>435</td><td>203</td><td>66</td><td>7,439</td></tr><tr><td>1947</td><td>-11,136</td><td>-387</td><td>-11,523</td><td>7,892</td><td>3,362</td><td>178</td><td>1,793</td><td>-8</td><td>2,140</td><td>-39</td><td>467</td><td>-</td><td>28</td><td>-19,389</td></tr><tr><td>1948</td><td>-5,994</td><td>-16</td><td>-6,010</td><td>1,394</td><td>3,060</td><td>-69</td><td>-1,229</td><td>-4</td><td>-913</td><td>-10</td><td>559</td><td>-</td><td>123</td><td>-7,280</td></tr><tr><td>1949</td><td>478</td><td>-46</td><td>432</td><td>2,916</td><td>2,311</td><td>319</td><td>-164</td><td>-2</td><td>-123</td><td>-4</td><td>580</td><td>-</td><td>-28</td><td>-2,513</td></tr><tr><td>1950</td><td>4,587</td><td>-8</td><td>4,579</td><td>334</td><td>-405</td><td>97</td><td>-95</td><td>-2</td><td>166</td><td>-1</td><td>574</td><td>-</td><td>-14</td><td>4,231</td></tr><tr><td>1951</td><td>-2,135</td><td>10</td><td>-2,126</td><td>4,045</td><td>3,369</td><td>187</td><td>-160</td><td>-1</td><td>13</td><td>-1</td><td>638</td><td>-</td><td>374</td><td>-5,795</td></tr><tr><td>1952</td><td>3,883</td><td>16</td><td>3,900</td><td>4,336</td><td>3,355</td><td>281</td><td>-68</td><td>-1</td><td>-9</td><td>-1</td><td>779</td><td>-</td><td>-88</td><td>-525</td></tr><tr><td>1953 (Eet.)</td><td>4,795</td><td>22</td><td>4,817</td><td>3,884</td><td>3,328</td><td>118</td><td>-40</td><td>-1</td><td>-11</td><td>*</td><td>490</td><td>-</td><td>-13</td><td>921</td></tr><tr><td>1954 (Eet.)</td><td>9,900</td><td>-25</td><td>9,875</td><td>3,439</td><td>3,195</td><td>149</td><td>-30</td><td>*</td><td>-</td><td>*</td><td>125</td><td>-</td><td>137</td><td>6,573</td></tr><tr><td>1952-July</td><td>3,968</td><td>-11</td><td>3,956</td><td>397</td><td>308</td><td>*</td><td>-3</td><td>*</td><td>14</td><td>*</td><td>77</td><td>-</td><td>37</td><td>3,597</td></tr><tr><td>Aug.</td><td>113</td><td>5</td><td>118</td><td>413</td><td>351</td><td>46</td><td>-2</td><td>*</td><td>-25</td><td>*</td><td>44</td><td>-</td><td>66</td><td>-229</td></tr><tr><td>Sept.</td><td>-504</td><td>1</td><td>-503</td><td>91</td><td>53</td><td>-9</td><td>-3</td><td>*</td><td>-</td><td>*</td><td>49</td><td>-</td><td>-34</td><td>-628</td></tr><tr><td>Oct.</td><td>2,238</td><td>5</td><td>2,243</td><td>77</td><td>37</td><td>-16</td><td>-2</td><td>*</td><td>-</td><td>*</td><td>58</td><td>-</td><td>-50</td><td>2,116</td></tr><tr><td>Nov.</td><td>2,513</td><td>6</td><td>2,519</td><td>564</td><td>394</td><td>87</td><td>-1</td><td>*</td><td>-</td><td>*</td><td>84</td><td>-</td><td>68</td><td>2,022</td></tr><tr><td>Dec.</td><td>-41</td><td>3</td><td>-38</td><td>440</td><td>357</td><td>-8</td><td>-2</td><td>*</td><td>-5</td><td>*</td><td>97</td><td>-</td><td>-50</td><td>-527</td></tr><tr><td>1953-Jan.</td><td>11</td><td>-6</td><td>5</td><td>212</td><td>112</td><td>242</td><td>-2</td><td>*</td><td>-</td><td>*</td><td>84</td><td>-</td><td>35</td><td>-173</td></tr><tr><td>Feb.</td><td>182</td><td>2</td><td>184</td><td>227</td><td>223</td><td>-54</td><td>-2</td><td>*</td><td>19</td><td>*</td><td>40</td><td>-</td><td>-134</td><td>-179</td></tr><tr><td>Mar.</td><td>-3,099</td><td>1</td><td>-3,098</td><td>101</td><td>61</td><td>38</td><td>-2</td><td>*</td><td>-19</td><td>*</td><td>23</td><td>-</td><td>11</td><td>-3,189</td></tr></table>
1/ The issuance of these securities is treated as a noncash budget expenditure at the time of issuance and as a cash budget expenditure at the time of cash redemption; not issuance, or redemption (-). 2/ See Table 1, footnote 1. 3/ The issuance of these securities is treated as a noncash deduction from
budget receipts at the time of issuance and as a cash deduction at the time of cash redemption; net issuance, or redemption (-). 
See Table 3, footnote 2. 
Includes borrowing through Postal Saving System. 
* Less than $500,000.
Table 6.- Cash Operating Income and Outgo by Month
(In millions of dollars)
<table><tr><th>Calendar year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th colspan="2">Annual total</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Calendar year</th><th>Fiscal year 1/</th></tr><tr><td colspan="14">Cash operating income:</td></tr><tr><td>1944</td><td>2,915</td><td>3,104</td><td>6,675</td><td>3,319</td><td>3,642</td><td>6,332</td><td>2,327</td><td>3,238</td><td>6,015</td><td>2,212</td><td>2,877</td><td>5,538</td><td>48,194</td><td>47,861</td></tr><tr><td>1945</td><td>3,724</td><td>4,275</td><td>7,001</td><td>3,164</td><td>3,850</td><td>6,016</td><td>2,764</td><td>3,371</td><td>5,276</td><td>2,809</td><td>3,030</td><td>4,328</td><td>49,608</td><td>50,240</td></tr><tr><td>1946</td><td>3,032</td><td>4,068</td><td>5,649</td><td>2,366</td><td>2,965</td><td>4,183</td><td>2,332</td><td>2,803</td><td>4,585</td><td>2,683</td><td>2,813</td><td>4,156</td><td>41,635</td><td>43,839</td></tr><tr><td>1947</td><td>3,321</td><td>4,947</td><td>5,585</td><td>2,228</td><td>2,746</td><td>4,886</td><td>2,446</td><td>3,112</td><td>4,666</td><td>2,589</td><td>3,305</td><td>3,987</td><td>44,319</td><td>43,591</td></tr><tr><td>1948</td><td>4,482</td><td>4,548</td><td>6,019</td><td>2,402</td><td>2,969</td><td>4,877</td><td>2,268</td><td>3,162</td><td>4,667</td><td>2,280</td><td>3,190</td><td>4,106</td><td>44,971</td><td>45,400</td></tr><tr><td>1949</td><td>3,683</td><td>3,893</td><td>5,555</td><td>2,430</td><td>2,595</td><td>4,798</td><td>2,081</td><td>3,150</td><td>4,915</td><td>2,046</td><td>2,965</td><td>4,263</td><td>41,374</td><td>41,628</td></tr><tr><td>1950</td><td>3,495</td><td>3,595</td><td>5,162</td><td>1,683</td><td>2,939</td><td>4,687</td><td>2,110</td><td>3,524</td><td>4,865</td><td>2,426</td><td>3,487</td><td>4,888</td><td>42,451</td><td>40,970</td></tr><tr><td>1951</td><td>4,696</td><td>4,877</td><td>8,489</td><td>2,960</td><td>4,148</td><td>7,367</td><td>2,854</td><td>4,600</td><td>6,555</td><td>2,855</td><td>4,293</td><td>5,642</td><td>59,338</td><td>53,439</td></tr><tr><td>1952</td><td>5,183</td><td>6,275</td><td>10,436</td><td>4,689</td><td>4,722</td><td>9,988</td><td>3,593</td><td>4,878</td><td>6,898</td><td>3,418</td><td>4,997</td><td>6,320</td><td>71,396</td><td>68,093</td></tr><tr><td>1953</td><td>5,239</td><td>6,267</td><td>11,042</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Cash operating outgo:</td></tr><tr><td>1944</td><td>7,537</td><td>8,009</td><td>8,564</td><td>7,677</td><td>8,027</td><td>8,478</td><td>7,249</td><td>8,146</td><td>7,686</td><td>7,886</td><td>7,373</td><td>8,178</td><td>94,810</td><td>93,956</td></tr><tr><td>1945</td><td>7,729</td><td>7,118</td><td>8,786</td><td>7,765</td><td>8,436</td><td>8,829</td><td>7,750</td><td>7,512</td><td>6,326</td><td>5,913</td><td>4,754</td><td>5,224</td><td>86,142</td><td>95,184</td></tr><tr><td>1946</td><td>4,668</td><td>3,700</td><td>3,876</td><td>3,600</td><td>3,853</td><td>4,562</td><td>2,745</td><td>2,760</td><td>2,944</td><td>2,844</td><td>2,269</td><td>3,578</td><td>41,399</td><td>61,738</td></tr><tr><td>1947</td><td>2,715</td><td>3,487</td><td>2,961</td><td>3,063</td><td>2,781</td><td>4,784</td><td>3,272</td><td>3,073</td><td>3,943</td><td>2,570</td><td>2,490</td><td>3,476</td><td>38,616</td><td>36,931</td></tr><tr><td>1948</td><td>2,497</td><td>2,726</td><td>3,418</td><td>2,397</td><td>2,507</td><td>4,129</td><td>2,588</td><td>2,950</td><td>3,197</td><td>2,779</td><td>3,474</td><td>4,235</td><td>36,897</td><td>36,496</td></tr><tr><td>1949</td><td>2,855</td><td>3,259</td><td>3,850</td><td>3,130</td><td>3,709</td><td>4,550</td><td>2,966</td><td>3,715</td><td>3,847</td><td>3,266</td><td>3,426</td><td>4,070</td><td>42,642</td><td>40,576</td></tr><tr><td>1950</td><td>3,177</td><td>3,537</td><td>4,046</td><td>3,344</td><td>3,700</td><td>4,051</td><td>3,143</td><td>3,009</td><td>3,199</td><td>3,335</td><td>3,415</td><td>4,004</td><td>41,969</td><td>43,155</td></tr><tr><td>1951</td><td>3,438</td><td>3,522</td><td>4,219</td><td>4,144</td><td>5,154</td><td>5,223</td><td>4,843</td><td>5,565</td><td>4,862</td><td>5,801</td><td>5,642</td><td>5,621</td><td>58,034</td><td>45,804</td></tr><tr><td>1952</td><td>5,473</td><td>5,328</td><td>6,120</td><td>5,972</td><td>5,751</td><td>6,978</td><td>6,233</td><td>5,622</td><td>6,066</td><td>6,514</td><td>5,558</td><td>7,364</td><td>72,980</td><td>67,956</td></tr><tr><td>1953</td><td>5,442</td><td>5,754</td><td>6,970</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Net cash operating income, or outgo (-):</td></tr><tr><td>1944</td><td>-4,622</td><td>-4,905</td><td>-1,889</td><td>-4,358</td><td>-4,385</td><td>-2,146</td><td>-4,922</td><td>-4,908</td><td>-1,672</td><td>-5,674</td><td>-4,496</td><td>-2,640</td><td>-46,616</td><td>-46,095</td></tr><tr><td>1945</td><td>-4,005</td><td>-2,843</td><td>-1,785</td><td>-4,601</td><td>-4,586</td><td>-2,813</td><td>-4,986</td><td>-4,141</td><td>-1,050</td><td>-3,104</td><td>-1,724</td><td>-896</td><td>-36,534</td><td>-44,945</td></tr><tr><td>1946</td><td>-1,636</td><td>368</td><td>1,773</td><td>-1,234</td><td>-888</td><td>-379</td><td>-113</td><td>43</td><td>1,641</td><td>-161</td><td>544</td><td>578</td><td>236</td><td>-17,899</td></tr><tr><td>1947</td><td>1,106</td><td>1,460</td><td>2,624</td><td>-835</td><td>-35</td><td>102</td><td>-827</td><td>41</td><td>723</td><td>18</td><td>816</td><td>510</td><td>5,703</td><td>6,659</td></tr><tr><td>1948</td><td>1,986</td><td>1,824</td><td>2,601</td><td>4</td><td>462</td><td>748</td><td>-320</td><td>212</td><td>1,469</td><td>-499</td><td>-283</td><td>-128</td><td>8,076</td><td>8,903</td></tr><tr><td>1949</td><td>829</td><td>635</td><td>1,704</td><td>-1,699</td><td>-1,114</td><td>248</td><td>-885</td><td>-566</td><td>1,068</td><td>-1,220</td><td>-461</td><td>193</td><td>-1,267</td><td>1,052</td></tr><tr><td>1950</td><td>308</td><td>58</td><td>1,116</td><td>-1,661</td><td>-762</td><td>626</td><td>-1,032</td><td>514</td><td>1,666</td><td>-909</td><td>72</td><td>485</td><td>482</td><td>-2,185</td></tr><tr><td>1951</td><td>1,259</td><td>1,356</td><td>4,270</td><td>-1,184</td><td>-1,006</td><td>2,144</td><td>-1,989</td><td>-965</td><td>1,693</td><td>-2,946</td><td>-1,348</td><td>21</td><td>1,304</td><td>7,635</td></tr><tr><td>1952</td><td>-290</td><td>947</td><td>4,316</td><td>-1,283</td><td>-1,029</td><td>3,010</td><td>-2,640</td><td>-744</td><td>832</td><td>-3,097</td><td>-561</td><td>-1,044</td><td>-1,583</td><td>137</td></tr><tr><td>1953</td><td>-203</td><td>513</td><td>4,072</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: See Table 1.
1/ Fiscal year ending June 30 of year indicated.
May 1953
15
GENERAL FUND OF THE TREASURY
Table 1.- Status of the General Fund
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="2">Total</th><th colspan="2">Bullion, coin, and currency</th><th colspan="2">Deposits in Federal Reserve Banks</th><th>Deposits in special depositaries 1/</th><th>Other deposits and collections</th><th>Liabilities</th><th>Balance in the General Fund</th></tr><tr><th></th><th></th><th>Gold</th><th>Other</th><th>Available funds</th><th>In process of collection</th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945</td><td>25,119</td><td>150</td><td>558</td><td>1,500</td><td>-</td><td>22,622</td><td>289</td><td>421</td><td>24,698</td></tr><tr><td>1946</td><td>18,708</td><td>160</td><td>243</td><td>1,006</td><td>-</td><td>12,993</td><td>305</td><td>470</td><td>14,238</td></tr><tr><td>1947</td><td>3,730</td><td>1,023</td><td>232</td><td>1,202</td><td>-</td><td>962</td><td>310</td><td>422</td><td>3,308</td></tr><tr><td>1948</td><td>5,370</td><td>1,073</td><td>191</td><td>1,928</td><td>123</td><td>1,773</td><td>283</td><td>438</td><td>4,932</td></tr><tr><td>1949</td><td>3,862</td><td>1,022</td><td>219</td><td>438</td><td>103</td><td>1,771</td><td>309</td><td>392</td><td>3,470</td></tr><tr><td>1950</td><td>5,927</td><td>1,052</td><td>191</td><td>950</td><td>143</td><td>3,268</td><td>323</td><td>410</td><td>5,517</td></tr><tr><td>1951</td><td>7,871</td><td>1,046</td><td>176</td><td>338</td><td>250</td><td>5,680</td><td>380</td><td>514</td><td>7,357</td></tr><tr><td>1952</td><td>7,481</td><td>1,009</td><td>194</td><td>333</td><td>355</td><td>5,106</td><td>484</td><td>512</td><td>6,969</td></tr><tr><td>1951-December</td><td>4,816</td><td>1,033</td><td>173</td><td>321</td><td>146</td><td>2,693</td><td>449</td><td>521</td><td>4,295</td></tr><tr><td>1952-July</td><td>8,520</td><td>1,010</td><td>181</td><td>638</td><td>134</td><td>6,027</td><td>479</td><td>594</td><td>7,925</td></tr><tr><td>August</td><td>7,439</td><td>1,004</td><td>175</td><td>496</td><td>106</td><td>5,190</td><td>468</td><td>487</td><td>6,952</td></tr><tr><td>September</td><td>7,557</td><td>1,001</td><td>179</td><td>508</td><td>161</td><td>5,217</td><td>491</td><td>401</td><td>7,156</td></tr><tr><td>October</td><td>6,743</td><td>1,006</td><td>163</td><td>770</td><td>174</td><td>4,145</td><td>485</td><td>568</td><td>6,175</td></tr><tr><td>November</td><td>8,155</td><td>999</td><td>162</td><td>396</td><td>103</td><td>5,984</td><td>511</td><td>519</td><td>7,636</td></tr><tr><td>December</td><td>6,582</td><td>1,007</td><td>160</td><td>389</td><td>176</td><td>4,368</td><td>483</td><td>518</td><td>6,064</td></tr><tr><td>1953-January</td><td>6,278</td><td>1,002</td><td>194</td><td>811</td><td>350</td><td>3,318</td><td>603</td><td>589</td><td>5,690</td></tr><tr><td>February</td><td>6,564</td><td>989</td><td>186</td><td>351</td><td>174</td><td>4,376</td><td>488</td><td>540</td><td>6,024</td></tr><tr><td>March</td><td>7,351</td><td>1,002</td><td>179</td><td>222</td><td>448</td><td>4,983</td><td>516</td><td>443</td><td>6,908</td></tr></table>
Source: Daily Treasury Statement. 1/ On account of withheld taxes and sales of Government securities.
Table 2.- General Fund Balance by Months
(End of month, in millions of dollars)
<table><tr><th>Year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1932</td><td>340</td><td>376</td><td>647</td><td>292</td><td>384</td><td>417</td><td>145</td><td>339</td><td>862</td><td>755</td><td>590</td><td>555</td></tr><tr><td>1933</td><td>327</td><td>221</td><td>493</td><td>241</td><td>364</td><td>862</td><td>834</td><td>1,200</td><td>1,146</td><td>909</td><td>1,107</td><td>1,026</td></tr><tr><td>1934</td><td>1,537</td><td>4,902</td><td>4,818</td><td>2,294</td><td>2,022</td><td>2,582</td><td>2,472</td><td>2,137</td><td>2,193</td><td>1,812</td><td>1,597</td><td>2,564</td></tr><tr><td>1935</td><td>2,319</td><td>2,081</td><td>2,446</td><td>1,935</td><td>1,957</td><td>1,841</td><td>1,789</td><td>1,475</td><td>1,799</td><td>1,473</td><td>1,434</td><td>2,209</td></tr><tr><td>1936</td><td>2,004</td><td>1,767</td><td>2,866</td><td>2,442</td><td>2,358</td><td>2,682</td><td>2,230</td><td>1,904</td><td>2,188</td><td>1,764</td><td>1,406</td><td>1,906</td></tr><tr><td>1937</td><td>1,726</td><td>1,539</td><td>1,826</td><td>1,702</td><td>1,754</td><td>2,553</td><td>2,639</td><td>2,902</td><td>2,860</td><td>2,676</td><td>2,608</td><td>2,973</td></tr><tr><td>1938</td><td>2,950</td><td>2,975</td><td>3,140</td><td>2,689</td><td>2,567</td><td>2,216</td><td>2,116</td><td>2,260</td><td>2,978</td><td>2,569</td><td>2,447</td><td>3,083</td></tr><tr><td>1939</td><td>2,933</td><td>3,343</td><td>3,389</td><td>3,044</td><td>2,924</td><td>2,838</td><td>2,447</td><td>2,231</td><td>2,178</td><td>1,913</td><td>2,165</td><td>2,476</td></tr><tr><td>1940</td><td>2,282</td><td>2,350</td><td>2,514</td><td>2,210</td><td>2,030</td><td>1,891</td><td>2,258</td><td>2,454</td><td>2,415</td><td>1,920</td><td>1,817</td><td>1,928</td></tr><tr><td>1941</td><td>2,025</td><td>1,701</td><td>2,715</td><td>2,425</td><td>1,904</td><td>2,633</td><td>2,599</td><td>2,873</td><td>2,266</td><td>2,641</td><td>2,319</td><td>3,560</td></tr><tr><td>1942</td><td>2,950</td><td>3,562</td><td>3,493</td><td>2,851</td><td>2,812</td><td>2,991</td><td>3,288</td><td>3,154</td><td>4,302</td><td>4,896</td><td>3,082</td><td>10,543</td></tr><tr><td>1943</td><td>7,724</td><td>5,392</td><td>4,179</td><td>12,617</td><td>12,687</td><td>9,507</td><td>8,595</td><td>6,364</td><td>18,158</td><td>19,297</td><td>14,958</td><td>12,294</td></tr><tr><td>1944</td><td>12,239</td><td>19,155</td><td>16,606</td><td>12,879</td><td>8,522</td><td>20,169</td><td>21,924</td><td>17,672</td><td>15,117</td><td>9,990</td><td>9,803</td><td>22,236</td></tr><tr><td>1945</td><td>19,606</td><td>17,313</td><td>15,277</td><td>11,366</td><td>9,625</td><td>24,698</td><td>22,082</td><td>18,631</td><td>16,134</td><td>12,813</td><td>14,445</td><td>26,003</td></tr><tr><td>1946</td><td>25,427</td><td>25,961</td><td>24,367</td><td>20,935</td><td>18,536</td><td>14,238</td><td>12,029</td><td>11,040</td><td>10,171</td><td>8,070</td><td>6,665</td><td>3,502</td></tr><tr><td>1947</td><td>4,711</td><td>7,134</td><td>6,909</td><td>4,312</td><td>4,066</td><td>3,308</td><td>3,069</td><td>3,400</td><td>3,952</td><td>4,107</td><td>3,935</td><td>3,097</td></tr><tr><td>1948</td><td>4,648</td><td>4,318</td><td>5,353</td><td>4,612</td><td>4,946</td><td>4,932</td><td>5,074</td><td>4,832</td><td>5,583</td><td>4,802</td><td>4,385</td><td>4,208</td></tr><tr><td>1949</td><td>4,659</td><td>5,891</td><td>5,767</td><td>3,995</td><td>3,163</td><td>3,470</td><td>3,337</td><td>4,418</td><td>5,699</td><td>4,737</td><td>4,422</td><td>4,679</td></tr><tr><td>1950</td><td>5,049</td><td>5,186</td><td>6,121</td><td>4,702</td><td>4,464</td><td>5,517</td><td>4,500</td><td>5,185</td><td>5,505</td><td>4,145</td><td>4,139</td><td>4,232</td></tr><tr><td>1951</td><td>4,454</td><td>5,382</td><td>8,569</td><td>6,955</td><td>5,702</td><td>7,357</td><td>5,620</td><td>5,095</td><td>6,916</td><td>4,874</td><td>4,624</td><td>4,295</td></tr><tr><td>1952</td><td>3,879</td><td>5,075</td><td>6,840</td><td>5,393</td><td>5,421</td><td>6,969</td><td>7,925</td><td>6,932</td><td>7,156</td><td>6,175</td><td>7,636</td><td>6,064</td></tr><tr><td>1953</td><td>5,689</td><td>6,024</td><td>6,908</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement.
16
Treasury Bulletin
DEBT OUTSTANDING
Table 1.- Summary of Federal Securities
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Total outstanding</th><th colspan="3">Interest-bearing debt</th><th colspan="5">Matured debt and debt bearing no interest</th></tr><tr><th></th><th>Total</th><th>Public debt</th><th>Guaranteed securities 1/</th><th>Total</th><th>Public debt</th><th>Guaranteed securities 1/</th><th>Total</th><th colspan="4">Public debt</th><th>Guaranteed securities 1/ (matured)</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Matured</th><th>International Bank 2/</th><th>Monetary Fund 2/</th><th>Other 3/</th><th></th></tr><tr><td>1945</td><td>259,115</td><td>258,682</td><td>433</td><td>256,766</td><td>256,357</td><td>409</td><td>2,350</td><td>2,326</td><td>269</td><td>-</td><td>-</td><td>2,057</td><td>24</td></tr><tr><td>1946</td><td>269,898</td><td>269,822</td><td>176</td><td>268,578</td><td>268,111</td><td>467</td><td>1,321</td><td>1,311</td><td>376</td><td>-</td><td>-</td><td>935</td><td>10</td></tr><tr><td>1947</td><td>258,376</td><td>258,286</td><td>90</td><td>255,197</td><td>255,113</td><td>83</td><td>3,179</td><td>3,173</td><td>231</td><td>416</td><td>1,724</td><td>802</td><td>6</td></tr><tr><td>1948</td><td>252,366</td><td>252,292</td><td>73</td><td>250,132</td><td>250,063</td><td>69</td><td>2,234</td><td>2,229</td><td>280</td><td>66</td><td>1,161</td><td>722</td><td>5</td></tr><tr><td>1949</td><td>252,798</td><td>252,770</td><td>27</td><td>250,785</td><td>250,762</td><td>24</td><td>2,012</td><td>2,009</td><td>245</td><td>41</td><td>1,063</td><td>660</td><td>3</td></tr><tr><td>1950</td><td>237,377</td><td>257,357</td><td>20</td><td>255,226</td><td>255,209</td><td>17</td><td>2,150</td><td>2,148</td><td>265</td><td>-</td><td>1,270</td><td>613</td><td>2</td></tr><tr><td>1951</td><td>255,251</td><td>255,222</td><td>29</td><td>252,879</td><td>252,852</td><td>27</td><td>2,372</td><td>2,370</td><td>512</td><td>-</td><td>1,283</td><td>575</td><td>2</td></tr><tr><td>1952</td><td>259,151</td><td>259,105</td><td>46</td><td>256,907</td><td>256,863</td><td>44</td><td>2,244</td><td>2,242</td><td>419</td><td>-</td><td>1,274</td><td>550</td><td>1</td></tr><tr><td>1953 (Est.)</td><td>263,968</td><td>263,900</td><td>68</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1954 (Est.)</td><td>273,843</td><td>273,800</td><td>43</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>Debt peak: Feb. 1946</td><td>279,764</td><td>279,214</td><td>551</td><td>278,451</td><td>277,912</td><td>539</td><td>1,313</td><td>1,301</td><td>238</td><td>-</td><td>-</td><td>1,063</td><td>12</td></tr><tr><td>1951-December</td><td>259,461</td><td>259,419</td><td>42</td><td>257,111</td><td>257,070</td><td>40</td><td>2,350</td><td>2,348</td><td>492</td><td>-</td><td>1,296</td><td>560</td><td>2</td></tr><tr><td>1952-July</td><td>263,107</td><td>263,073</td><td>34</td><td>260,940</td><td>260,908</td><td>33</td><td>2,166</td><td>2,165</td><td>331</td><td>-</td><td>1,288</td><td>546</td><td>2</td></tr><tr><td>August</td><td>263,225</td><td>263,186</td><td>39</td><td>261,098</td><td>261,060</td><td>38</td><td>2,127</td><td>2,125</td><td>319</td><td>-</td><td>1,263</td><td>544</td><td>2</td></tr><tr><td>September</td><td>262,722</td><td>262,682</td><td>40</td><td>260,615</td><td>260,577</td><td>39</td><td>2,106</td><td>2,105</td><td>300</td><td>-</td><td>1,263</td><td>542</td><td>1</td></tr><tr><td>October</td><td>264,964</td><td>264,919</td><td>45</td><td>262,864</td><td>262,820</td><td>43</td><td>2,100</td><td>2,099</td><td>297</td><td>-</td><td>1,263</td><td>539</td><td>1</td></tr><tr><td>November</td><td>267,143</td><td>267,132</td><td>51</td><td>265,394</td><td>265,345</td><td>49</td><td>2,089</td><td>2,087</td><td>286</td><td>-</td><td>1,263</td><td>539</td><td>1</td></tr><tr><td>December</td><td>267,445</td><td>267,391</td><td>54</td><td>265,346</td><td>265,293</td><td>53</td><td>2,100</td><td>2,098</td><td>304</td><td>-</td><td>1,258</td><td>536</td><td>1</td></tr><tr><td>1953-January</td><td>267,450</td><td>267,402</td><td>48</td><td>265,370</td><td>265,323</td><td>47</td><td>2,080</td><td>2,079</td><td>286</td><td>-</td><td>1,258</td><td>535</td><td>1</td></tr><tr><td>February</td><td>267,634</td><td>267,584</td><td>50</td><td>265,538</td><td>265,489</td><td>49</td><td>2,096</td><td>2,094</td><td>284</td><td>-</td><td>1,277</td><td>533</td><td>1</td></tr><tr><td>March</td><td>264,536</td><td>264,489</td><td>51</td><td>262,430</td><td>262,380</td><td>50</td><td>2,106</td><td>2,105</td><td>316</td><td>-</td><td>1,258</td><td>531</td><td>1</td></tr></table>
Sources: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953.
Footnotes at end of Table 2.
Table 2.- Net Change in Federal Securities
(Increase, or decrease (-), in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Total outstading</th><th colspan="3">Interest-bearing debt</th><th colspan="5">Matured debt and debt bearing no interest</th></tr><tr><th>Total</th><th>Public debt</th><th>Ouare- teed securi- ties 1/</th><th>Total</th><th>Public debt</th><th>Guaran- teed securi- ties 1/</th><th>Total</th><th colspan="4">Public debt</th><th>Ouare- teed securi- ties 1/ (matured)</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Matured</th><th>Inter- national Bank 2/</th><th>Monetary Fund 2/</th><th>Other 3/</th><th></th></tr><tr><td>1945</td><td>56,489</td><td>57,679</td><td>-1,190</td><td>55,707</td><td>56,813</td><td>-1,107</td><td>782</td><td>866</td><td>68</td><td>-</td><td>-</td><td>798</td><td>-83</td></tr><tr><td>1946</td><td>10,783</td><td>10,740</td><td>43</td><td>11,812</td><td>11,754</td><td>58</td><td>-1,029</td><td>-1,014</td><td>108</td><td>-</td><td>-</td><td>-1,122</td><td>-14</td></tr><tr><td>1947</td><td>-11,523</td><td>-11,136</td><td>-387</td><td>-13,381</td><td>-12,997</td><td>-383</td><td>1,858</td><td>1,862</td><td>-145</td><td>416</td><td>1,724</td><td>-133</td><td>-3</td></tr><tr><td>1948</td><td>-6,010</td><td>-5,994</td><td>-16</td><td>-5,065</td><td>-5,050</td><td>-14</td><td>-946</td><td>-944</td><td>49</td><td>-350</td><td>-563</td><td>-80</td><td>-2</td></tr><tr><td>1949</td><td>432</td><td>478</td><td>-46</td><td>653</td><td>698</td><td>-45</td><td>-221</td><td>-220</td><td>-35</td><td>-25</td><td>-98</td><td>-62</td><td>-1</td></tr><tr><td>1950</td><td>4,579</td><td>4,587</td><td>-8</td><td>4,441</td><td>4,448</td><td>-7</td><td>138</td><td>139</td><td>20</td><td>-41</td><td>207</td><td>-47</td><td>-1</td></tr><tr><td>1951</td><td>-2,126</td><td>-2,135</td><td>10</td><td>-2,347</td><td>-2,358</td><td>10</td><td>222</td><td>222</td><td>247</td><td>-</td><td>13</td><td>-38</td><td>-1</td></tr><tr><td>1952</td><td>3,900</td><td>3,883</td><td>16</td><td>4,028</td><td>4,011</td><td>17</td><td>-128</td><td>-128</td><td>-93</td><td>-</td><td>-9</td><td>-26</td><td>*</td></tr><tr><td>1953 (Est.)</td><td>4,817</td><td>4,795</td><td>22</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1954 (Est.)</td><td>9,875</td><td>9,900</td><td>-25</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1952-July</td><td>3,956</td><td>3,968</td><td>-11</td><td>4,034</td><td>4,045</td><td>-12</td><td>-77</td><td>-78</td><td>-88</td><td>-</td><td>14</td><td>-4</td><td>*</td></tr><tr><td>August</td><td>118</td><td>113</td><td>5</td><td>157</td><td>152</td><td>5</td><td>-39</td><td>-39</td><td>-12</td><td>-</td><td>-25</td><td>-2</td><td>*</td></tr><tr><td>September</td><td>-503</td><td>-504</td><td>1</td><td>-483</td><td>-484</td><td>1</td><td>-21</td><td>-20</td><td>-19</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>October</td><td>2,243</td><td>2,238</td><td>5</td><td>2,249</td><td>2,244</td><td>5</td><td>-6</td><td>-6</td><td>-4</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>November</td><td>2,519</td><td>2,513</td><td>6</td><td>2,530</td><td>2,525</td><td>6</td><td>-12</td><td>-12</td><td>-11</td><td>-</td><td>-</td><td>-1</td><td>*</td></tr><tr><td>December</td><td>-38</td><td>-41</td><td>3</td><td>-49</td><td>-52</td><td>3</td><td>11</td><td>11</td><td>18</td><td>-</td><td>-5</td><td>-2</td><td>*</td></tr><tr><td>1953-January</td><td>5</td><td>11</td><td>-6</td><td>24</td><td>30</td><td>-6</td><td>-19</td><td>-19</td><td>-18</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>February</td><td>184</td><td>182</td><td>2</td><td>168</td><td>166</td><td>2</td><td>16</td><td>16</td><td>-2</td><td>-</td><td>19</td><td>-1</td><td>*</td></tr><tr><td>March</td><td>-3,098</td><td>-3,099</td><td>1</td><td>-3,108</td><td>-3,110</td><td>1</td><td>11</td><td>11</td><td>32</td><td>-</td><td>-19</td><td>-3</td><td>*</td></tr></table>
1/ Excludes guaranteed securities held by the Treasury. The interest-bearing debt shown here consists of F. E. A. debentures and C. C. C. demand obligations; details by issues appeared in the "Treasury Bulletin" for August 1951 and in previous issues; currently the amounts outstanding are shown each month in the "Treasury Survey of Ownership", Tables 3 and 4.
2/ Special notes of the United States issued to the International Bank and the International Monetary Fund in payment of part of the United States subscriptions to these institutions, pursuant to provisions of the Bretton Woods
Agreements Act. The notes bear no interest, are nongeotgiable, and are payable on demand.
3/ Includes savings stamps, excess profits tax refund bonds, and currency items. For current-month details, see "Statutory Debt Limitation", Table 2.
* Less than $500,000.
a.A. Not available.
May 1955
17
DEBT OUTSTANDING
Table 3.- Interest-Bearing Public Debt
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total interest-bearing public debt</th><th colspan="6">Marketable</th><th colspan="5">Nonmarketable</th><th rowspan="2">Special issues</th></tr><tr><th>Total public issues</th><th>Total</th><th>Bills</th><th>Certificate</th><th>Notes</th><th>Treasury bonds eligible</th><th>Treasury bonds restricted 2/</th><th>Other bonds</th><th>Total U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Other 3/</th></tr><tr><td>1945</td><td>256,357</td><td>237,345</td><td>181,319</td><td>17,041</td><td>34,136</td><td>23,497</td><td>69,693</td><td>36,756</td><td>196</td><td>56,226</td><td>45,586</td><td>10,136</td><td>-</td><td>-</td><td>505</td><td>18,812</td></tr><tr><td>1946</td><td>268,111</td><td>245,779</td><td>189,606</td><td>17,039</td><td>34,804</td><td>18,261</td><td>65,864</td><td>53,459</td><td>180</td><td>56,173</td><td>49,035</td><td>6,711</td><td>-</td><td>-</td><td>427</td><td>22,332</td></tr><tr><td>1947</td><td>255,113</td><td>227,747</td><td>168,702</td><td>15,775</td><td>25,296</td><td>8,142</td><td>69,686</td><td>49,636</td><td>166</td><td>59,045</td><td>51,367</td><td>5,560</td><td>1,793</td><td>-</td><td>325</td><td>27,366</td></tr><tr><td>1948</td><td>250,063</td><td>219,852</td><td>160,346</td><td>13,757</td><td>22,588</td><td>11,375</td><td>62,826</td><td>49,636</td><td>164</td><td>59,506</td><td>53,274</td><td>4,394</td><td>563</td><td>959</td><td>316</td><td>30,211</td></tr><tr><td>1949</td><td>250,762</td><td>217,986</td><td>155,147</td><td>11,536</td><td>29,427</td><td>3,596</td><td>60,789</td><td>49,636</td><td>162</td><td>62,839</td><td>56,260</td><td>4,860</td><td>396</td><td>954</td><td>369</td><td>32,776</td></tr><tr><td>1950</td><td>255,209</td><td>222,853</td><td>155,310</td><td>13,533</td><td>18,418</td><td>20,404</td><td>53,159</td><td>49,636</td><td>160</td><td>67,544</td><td>57,536</td><td>8,472</td><td>297</td><td>954</td><td>285</td><td>32,356</td></tr><tr><td>1951</td><td>252,852</td><td>218,198</td><td>137,917</td><td>13,614</td><td>9,509</td><td>35,806</td><td>42,772</td><td>36,061</td><td>156</td><td>80,281</td><td>57,572</td><td>7,818</td><td>47</td><td>14,526</td><td>319</td><td>34,653</td></tr><tr><td>1952</td><td>256,863</td><td>219,124</td><td>140,407</td><td>17,219</td><td>28,423</td><td>18,963</td><td>48,200</td><td>27,460</td><td>142</td><td>78,717</td><td>57,685</td><td>6,612</td><td>-</td><td>14,046</td><td>373</td><td>37,739</td></tr><tr><td>Debt peak: Feb. 1946</td><td>277,912</td><td>257,016</td><td>199,810</td><td>17,032</td><td>41,413</td><td>19,551</td><td>68,207</td><td>53,427</td><td>180</td><td>57,206</td><td>48,692</td><td>8,043</td><td>-</td><td>-</td><td>471</td><td>20,897</td></tr><tr><td>1951-Dec.</td><td>257,070</td><td>221,168</td><td>142,685</td><td>18,102</td><td>29,078</td><td>18,409</td><td>40,897</td><td>36,048</td><td>152</td><td>78,483</td><td>57,587</td><td>7,534</td><td>-</td><td>13,011</td><td>351</td><td>35,902</td></tr><tr><td>1952-July</td><td>260,908</td><td>222,963</td><td>144,340</td><td>17,213</td><td>28,170</td><td>18,971</td><td>52,445</td><td>27,407</td><td>134</td><td>78,623</td><td>57,709</td><td>6,440</td><td>-</td><td>14,096</td><td>378</td><td>37,945</td></tr><tr><td>Aug.</td><td>261,060</td><td>222,753</td><td>144,148</td><td>17,206</td><td>28,019</td><td>18,974</td><td>52,445</td><td>27,369</td><td>134</td><td>78,605</td><td>57,753</td><td>6,330</td><td>-</td><td>14,137</td><td>385</td><td>38,307</td></tr><tr><td>Sept.</td><td>260,577</td><td>222,216</td><td>143,895</td><td>17,207</td><td>27,763</td><td>18,982</td><td>52,445</td><td>27,365</td><td>134</td><td>78,321</td><td>57,758</td><td>6,039</td><td>-</td><td>14,133</td><td>391</td><td>38,360</td></tr><tr><td>Oct.</td><td>262,820</td><td>224,430</td><td>146,775</td><td>19,712</td><td>16,902</td><td>30,246</td><td>52,444</td><td>27,338</td><td>134</td><td>77,655</td><td>57,794</td><td>6,026</td><td>-</td><td>13,442</td><td>393</td><td>38,390</td></tr><tr><td>Nov.</td><td>265,345</td><td>226,557</td><td>148,772</td><td>21,715</td><td>16,902</td><td>30,253</td><td>52,444</td><td>27,324</td><td>134</td><td>77,784</td><td>57,850</td><td>6,089</td><td>-</td><td>13,450</td><td>396</td><td>38,788</td></tr><tr><td>Dec.</td><td>265,293</td><td>226,143</td><td>148,581</td><td>21,713</td><td>16,712</td><td>30,266</td><td>58,740</td><td>21,016</td><td>134</td><td>77,562</td><td>57,940</td><td>5,770</td><td>-</td><td>13,450</td><td>403</td><td>39,150</td></tr><tr><td>1953-Jan.</td><td>265,323</td><td>226,226</td><td>148,578</td><td>21,709</td><td>16,712</td><td>30,275</td><td>58,740</td><td>21,013</td><td>124</td><td>77,653</td><td>58,134</td><td>5,676</td><td>-</td><td>13,440</td><td>402</td><td>39,097</td></tr><tr><td>Feb.</td><td>265,489</td><td>226,187</td><td>148,445</td><td>21,710</td><td>15,958</td><td>30,282</td><td>59,359</td><td>21,012</td><td>124</td><td>77,742</td><td>58,268</td><td>5,642</td><td>-</td><td>13,433</td><td>399</td><td>39,392</td></tr><tr><td>Mar.</td><td>262,380</td><td>223,025</td><td>145,988</td><td>19,211</td><td>15,959</td><td>30,327</td><td>59,358</td><td>21,009</td><td>124</td><td>77,037</td><td>58,371</td><td>4,879</td><td>-</td><td>13,387</td><td>400</td><td>39,354</td></tr></table>
Source: Daily Treasury Statement
Footnotes at end of Table 4.
Table 4.- Net Change in Interest-Bearing Public Debt
(Increase, or decrease (-), in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total interest-bearing public debt</th><th colspan="8">Public issues</th><th colspan="5">Nonmarketable</th><th rowspan="2">Special issues</th></tr><tr><th>Total public issues</th><th colspan="2">Marketable</th><th colspan="3">Treasury bonds</th><th colspan="2">Other bonds 2/</th><th>Total</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Other 3/</th></tr><tr><th></th><th></th><th>Total</th><th>Bills</th><th>Certificates</th><th>Notes</th><th>Bank eligible</th><th>Bank restricted 1/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945</td><td>56,813</td><td>52,289</td><td>40,917</td><td>2,307</td><td>5,313</td><td>6,092</td><td>11,610</td><td>15,595</td><td>*</td><td>11,371</td><td>10,979</td><td>579</td><td>-</td><td>-</td><td>-187</td><td>4,525</td></tr><tr><td>1946</td><td>11,754</td><td>8,234</td><td>8,287</td><td>-2</td><td>668</td><td>-5,237</td><td>-3,829</td><td>16,703</td><td>-16</td><td>-53</td><td>3,449</td><td>-3,424</td><td>-</td><td>-</td><td>-78</td><td>3,520</td></tr><tr><td>1947</td><td>-12,997</td><td>-18,032</td><td>-20,904</td><td>-1,264</td><td>-9,508</td><td>-10,119</td><td>3,823</td><td>-3,823</td><td>-14</td><td>2,872</td><td>2,332</td><td>-1,151</td><td>1,793</td><td>-</td><td>-101</td><td>5,935</td></tr><tr><td>1948</td><td>-5,050</td><td>-7,895</td><td>-8,356</td><td>-2,018</td><td>-2,708</td><td>3,232</td><td>-6,861</td><td>*</td><td>-2</td><td>461</td><td>1,907</td><td>-1,166</td><td>-1,230</td><td>959</td><td>-9</td><td>2,845</td></tr><tr><td>1949</td><td>698</td><td>-1,866</td><td>-5,199</td><td>-2,221</td><td>6,840</td><td>-7,779</td><td>-2,036</td><td>*</td><td>-2</td><td>3,332</td><td>2,986</td><td>467</td><td>-167</td><td>-5</td><td>52</td><td>2,564</td></tr><tr><td>1950</td><td>4,448</td><td>4,867</td><td>162</td><td>1,997</td><td>-11,009</td><td>16,808</td><td>-7,630</td><td>*</td><td>-2</td><td>4,705</td><td>1,277</td><td>3,612</td><td>-99</td><td>-1</td><td>-84</td><td>-420</td></tr><tr><td>1951</td><td>-2,358</td><td>-4,655</td><td>-17,393</td><td>81</td><td>-3,909</td><td>15,402</td><td>-10,387</td><td>-13,576</td><td>-4</td><td>12,738</td><td>36</td><td>-655</td><td>-250</td><td>13,572</td><td>34</td><td>2,297</td></tr><tr><td>1952</td><td>4,011</td><td>926</td><td>2,490</td><td>3,605</td><td>18,914</td><td>-16,843</td><td>5,429</td><td>-8,601</td><td>-14</td><td>-1,565</td><td>113</td><td>-1,205</td><td>-47</td><td>-480</td><td>54</td><td>3,086</td></tr><tr><td>1952-July</td><td>4,045</td><td>3,839</td><td>3,932</td><td>-6</td><td>-253</td><td>8</td><td>4,245</td><td>-53</td><td>-8</td><td>-93</td><td>24</td><td>-172</td><td>-</td><td>50</td><td>5</td><td>206</td></tr><tr><td>Aug.</td><td>152</td><td>-210</td><td>-192</td><td>-7</td><td>-151</td><td>4</td><td>*</td><td>-38</td><td>-</td><td>-18</td><td>44</td><td>-110</td><td>-</td><td>41</td><td>7</td><td>362</td></tr><tr><td>Sept.</td><td>-84</td><td>-537</td><td>-253</td><td>1</td><td>-257</td><td>7</td><td>*</td><td>-4</td><td>-</td><td>-284</td><td>5</td><td>-291</td><td>-</td><td>-4</td><td>6</td><td>54</td></tr><tr><td>Oct.</td><td>2,244</td><td>2,214</td><td>2,880</td><td>2,505</td><td>-10,861</td><td>11,264</td><td>-1</td><td>-27</td><td>-</td><td>-666</td><td>35</td><td>-13</td><td>-</td><td>-691</td><td>3</td><td>30</td></tr><tr><td>Nov.</td><td>2,525</td><td>2,127</td><td>1,997</td><td>2,003</td><td>-</td><td>7</td><td>*</td><td>-13</td><td>-</td><td>130</td><td>57</td><td>63</td><td>-</td><td>8</td><td>2</td><td>398</td></tr><tr><td>Dec.</td><td>-52</td><td>-413</td><td>-192</td><td>-2</td><td>-190</td><td>13</td><td>6,296</td><td>-6,309</td><td>-</td><td>-222</td><td>90</td><td>-319</td><td>-</td><td>*</td><td>7</td><td>361</td></tr><tr><td>1953-Jan.</td><td>30</td><td>83</td><td>-7</td><td>-3</td><td>-</td><td>9</td><td>*</td><td>-3</td><td>-10</td><td>90</td><td>194</td><td>-93</td><td>-</td><td>-9</td><td>-1</td><td>-53</td></tr><tr><td>Feb.</td><td>166</td><td>-39</td><td>-129</td><td>*</td><td>-754</td><td>6</td><td>620</td><td>-2</td><td>-</td><td>90</td><td>134</td><td>-35</td><td>-</td><td>-7</td><td>-2</td><td>202</td></tr><tr><td>Mar.</td><td>-3,110</td><td>-3,162</td><td>-2,456</td><td>-2,499</td><td>*</td><td>46</td><td>-1</td><td>-2</td><td>-</td><td>-705</td><td>103</td><td>-763</td><td>-</td><td>-46</td><td>1</td><td>52</td></tr></table>
1/ Issues which commercial banks (banks accepting demand deposits) are not permitted to acquire prior to specified dates, except that: (1) concurrently with the 4th, 5th, and 6th War Loans and the Victory Loan, commercial banks were permitted to subscribe for limited investment of their savings deposits; (2) commercial banks may temporarily acquire such issues through forfeiture of collateral; (3) commercial banks may hold a limited amount of such issues for trading purposes. Bank restricted bonds may be redeemed at par and accrued interest upon the
death of the owner if the proceeds are used to pay Federal estate taxes. For a current list of bank restricted issues and the date when each becomes bank eligible, see "Debt Operations", Table 1. 2/ Consists of postal savings and Panama Canal bonds, and also conversion bonds prior to 1947. 3/ Consists of depositary bonds. * Less than $500,000.
18
Treasury Bulletin
DEBT OUTSTANDING
Table 5.- Special Issues to United States Government Investment Accounts
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Federal Deposit Insurance Corporation</th><th>Federal home loan banks</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Savings and Loan Insurance Corporation</th><th>Government employees' retirement funds</th><th>Government Life Insurance Fund</th><th>National Service Life Insurance Fund</th><th>Postal Savings System 1/</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>Other 2/</th></tr><tr><td>1945</td><td>18,812</td><td>97</td><td>-</td><td>5,308</td><td>37</td><td>1,868</td><td>589</td><td>3,187</td><td>464</td><td>501</td><td>6,747</td><td>14</td></tr><tr><td>1946</td><td>22,332</td><td>120</td><td>-</td><td>5,910</td><td>49</td><td>2,177</td><td>684</td><td>5,240</td><td>782</td><td>657</td><td>6,699</td><td>12</td></tr><tr><td>1947</td><td>27,366</td><td>408</td><td>-</td><td>7,104</td><td>62</td><td>2,460</td><td>1,254</td><td>6,474</td><td>1,628</td><td>806</td><td>7,142</td><td>30</td></tr><tr><td>1948</td><td>30,211</td><td>549</td><td>37</td><td>7,709</td><td>74</td><td>2,823</td><td>1,286</td><td>6,935</td><td>1,912</td><td>1,374</td><td>7,500</td><td>11</td></tr><tr><td>1949</td><td>32,776</td><td>666</td><td>117</td><td>9,003</td><td>95</td><td>3,270</td><td>1,318</td><td>7,288</td><td>1,952</td><td>1,720</td><td>7,340</td><td>7</td></tr><tr><td>1950</td><td>32,356</td><td>808</td><td>119</td><td>10,418</td><td>79</td><td>3,817</td><td>1,292</td><td>5,342</td><td>1,802</td><td>2,058</td><td>6,616</td><td>6</td></tr><tr><td>1951</td><td>34,653</td><td>868</td><td>77</td><td>12,096</td><td>86</td><td>4,391</td><td>1,300</td><td>5,436</td><td>706</td><td>2,414</td><td>7,266</td><td>13</td></tr><tr><td>1952</td><td>37,739</td><td>888</td><td>50</td><td>14,047</td><td>79</td><td>5,014</td><td>1,300</td><td>5,191</td><td>552</td><td>2,863</td><td>7,745</td><td>9</td></tr><tr><td>1951-December</td><td>35,902</td><td>862</td><td>52</td><td>12,791</td><td>79</td><td>4,756</td><td>1,279</td><td>5,170</td><td>632</td><td>2,630</td><td>7,629</td><td>21</td></tr><tr><td>1952-July</td><td>37,945</td><td>840</td><td>54</td><td>14,047</td><td>52</td><td>5,344</td><td>1,300</td><td>5,192</td><td>522</td><td>2,874</td><td>7,710</td><td>10</td></tr><tr><td>August</td><td>38,307</td><td>840</td><td>51</td><td>14,118</td><td>52</td><td>5,359</td><td>1,294</td><td>5,178</td><td>522</td><td>2,925</td><td>7,924</td><td>14</td></tr><tr><td>September</td><td>38,360</td><td>840</td><td>50</td><td>14,222</td><td>53</td><td>5,363</td><td>1,294</td><td>5,177</td><td>522</td><td>2,942</td><td>7,884</td><td>14</td></tr><tr><td>October</td><td>38,390</td><td>843</td><td>46</td><td>14,292</td><td>53</td><td>5,363</td><td>1,291</td><td>5,164</td><td>522</td><td>2,917</td><td>7,878</td><td>21</td></tr><tr><td>November</td><td>38,788</td><td>844</td><td>51</td><td>14,429</td><td>54</td><td>5,366</td><td>1,285</td><td>5,164</td><td>522</td><td>2,960</td><td>8,089</td><td>24</td></tr><tr><td>December</td><td>39,150</td><td>854</td><td>44</td><td>14,734</td><td>56</td><td>5,370</td><td>1,285</td><td>5,164</td><td>520</td><td>2,990</td><td>8,123</td><td>17</td></tr><tr><td>1953-January</td><td>39,097</td><td>912</td><td>51</td><td>14,746</td><td>56</td><td>5,378</td><td>1,282</td><td>5,154</td><td>512</td><td>2,956</td><td>8,038</td><td>11</td></tr><tr><td>February</td><td>39,302</td><td>904</td><td>50</td><td>14,777</td><td>56</td><td>5,384</td><td>1,280</td><td>5,169</td><td>499</td><td>3,008</td><td>8,159</td><td>15</td></tr><tr><td>March</td><td>39,354</td><td>895</td><td>50</td><td>14,918</td><td>56</td><td>5,388</td><td>1,276</td><td>5,159</td><td>495</td><td>3,023</td><td>8,074</td><td>19</td></tr></table>
Source: Daily Treasury Statement. 1/ Includes Canal Zone Postal Savings System. 2/ Consists of Adjusted Service Certificate Fund, various housing insurance
funds, Farm Tenant Mortgage Insurance Fund, and Veterans' Special Term Insurance Fund.
Table 6.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="3">Total interest-bearing securities</th><th colspan="7">Computed annual interest rate</th></tr><tr><th>Amount outstanding</th><th>Public debt and guaranteed securities 1/</th><th>Public debt</th><th>Computed annual interest charge</th><th>Public debt and guaranteed securities 1/</th><th>Public debt</th><th>Total interest-bearing securities</th><th>Total public debt</th><th>Public debt Marketable issues</th><th>Non-marketable issues 2/</th><th>Special issues</th><th>Guaranteed securities 1/</th></tr><tr><td>1945</td><td>256,766</td><td>256,357</td><td>4,969</td><td>4,964</td><td>1.935</td><td>1.936</td><td>1.718</td><td>.381</td><td>.875</td><td>1.204</td><td>2.314</td><td>2.473</td><td>2.436</td><td>1.321</td></tr><tr><td>1946</td><td>268,578</td><td>268,111</td><td>5,357</td><td>5,351</td><td>1.995</td><td>1.996</td><td>1.773</td><td>.381</td><td>.875</td><td>1.289</td><td>2.307</td><td>2.567</td><td>2.448</td><td>1.410</td></tr><tr><td>1947</td><td>255,197</td><td>255,113</td><td>5,376</td><td>5,374</td><td>2.107</td><td>2.107</td><td>1.871</td><td>.382</td><td>.875</td><td>1.448</td><td>2.307</td><td>2.593</td><td>2.510</td><td>1.758</td></tr><tr><td>1948</td><td>250,132</td><td>250,063</td><td>5,457</td><td>5,455</td><td>2.182</td><td>2.182</td><td>1.942</td><td>1.014</td><td>1.042</td><td>1.204</td><td>2.309</td><td>2.623</td><td>2.588</td><td>1.924</td></tr><tr><td>1949</td><td>250,785</td><td>250,762</td><td>5,606</td><td>5,606</td><td>2.236</td><td>2.236</td><td>2.001</td><td>1.176</td><td>1.225</td><td>1.375</td><td>2.313</td><td>2.629</td><td>2.596</td><td>2.210</td></tr><tr><td>1950</td><td>255,226</td><td>255,209</td><td>5,613</td><td>5,613</td><td>2.200</td><td>2.200</td><td>1.958</td><td>1.187</td><td>1.163</td><td>1.344</td><td>2.322</td><td>2.569</td><td>2.589</td><td>2.684</td></tr><tr><td>1951</td><td>252,879</td><td>252,852</td><td>5,740</td><td>5,740</td><td>2.270</td><td>2.270</td><td>1.981</td><td>1.569</td><td>1.875</td><td>1.399</td><td>2.327</td><td>2.623</td><td>2.606</td><td>2.656</td></tr><tr><td>1952</td><td>256,907</td><td>256,863</td><td>5,982</td><td>5,981</td><td>2.329</td><td>2.329</td><td>2.051</td><td>1.711</td><td>1.875</td><td>1.560</td><td>2.317</td><td>2.659</td><td>2.675</td><td>2.578</td></tr><tr><td>1952-July</td><td>260,940</td><td>260,908</td><td>6,102</td><td>6,101</td><td>2.339</td><td>2.339</td><td>2.070</td><td>1.787</td><td>1.875</td><td>1.560</td><td>2.320</td><td>2.663</td><td>2.689</td><td>2.617</td></tr><tr><td>August</td><td>261,098</td><td>261,060</td><td>6,120</td><td>6,119</td><td>2.345</td><td>2.345</td><td>2.078</td><td>1.839</td><td>1.894</td><td>1.560</td><td>2.320</td><td>2.666</td><td>2.686</td><td>2.602</td></tr><tr><td>September</td><td>260,615</td><td>260,577</td><td>6,117</td><td>6,116</td><td>2.348</td><td>2.348</td><td>2.082</td><td>1.865</td><td>1.884</td><td>1.559</td><td>2.320</td><td>2.671</td><td>2.686</td><td>2.600</td></tr><tr><td>October</td><td>262,864</td><td>262,820</td><td>6,171</td><td>6,170</td><td>2.349</td><td>2.349</td><td>2.090</td><td>1.836</td><td>1.890</td><td>1.755</td><td>2.320</td><td>2.671</td><td>2.685</td><td>2.584</td></tr><tr><td>November</td><td>265,394</td><td>265,345</td><td>6,221</td><td>6,219</td><td>2.345</td><td>2.345</td><td>2.086</td><td>1.837</td><td>1.890</td><td>1.755</td><td>2.320</td><td>2.672</td><td>2.681</td><td>2.570</td></tr><tr><td>December</td><td>265,346</td><td>265,293</td><td>6,241</td><td>6,240</td><td>2.353</td><td>2.353</td><td>2.099</td><td>1.915</td><td>1.897</td><td>1.755</td><td>2.320</td><td>2.677</td><td>2.678</td><td>2.565</td></tr><tr><td>1953-January</td><td>265,370</td><td>265,323</td><td>6,263</td><td>6,262</td><td>2.361</td><td>2.361</td><td>2.112</td><td>2.008</td><td>1.897</td><td>1.755</td><td>2.320</td><td>2.679</td><td>2.677</td><td>2.567</td></tr><tr><td>February</td><td>265,538</td><td>265,489</td><td>6,313</td><td>6,311</td><td>2.378</td><td>2.378</td><td>2.141</td><td>2.047</td><td>2.088</td><td>1.755</td><td>2.321</td><td>2.681</td><td>2.677</td><td>2.577</td></tr><tr><td>March</td><td>262,430</td><td>262,380</td><td>6,257</td><td>6,256</td><td>2.385</td><td>2.385</td><td>2.146</td><td>2.074</td><td>2.088</td><td>1.754</td><td>2.321</td><td>2.590</td><td>2.677</td><td>2.573</td></tr></table>
Sources: Daily Treasury Statement. 1/ Excludes guaranteed securities held by the Treasury. 2/ Total includes "Other bonds"; see Table 3. 3/ Included in debt outstanding at face amount, but discount value is used
4/ The annual interest charge and annual interest rate on United States savings bonds are computed on the basis of the rate to maturity applied against the amount outstanding.
May 1957
19
DEBT OUTSTANDING
Table 7.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies 1/
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Defense Production Act 2/</th><th>Export-Import Bank of Washington 3/</th><th>Housing and Home Finance Adminis-trator 4/</th><th>Mutual Security Agency 5/</th><th>Public Housing Adminis-tration</th><th>Recon-struction Finance Corpora-tion 3/</th><th>Rural Electri-fication Adminis-tration</th><th>Secre-tary of Agri-culture 6/</th><th>Secre-tary of the Army 7/</th><th>Tennessee Valley Authority</th><th>Other 8/</th></tr><tr><td>1945</td><td>12,169</td><td>1,591</td><td>-</td><td>-</td><td>-</td><td>-</td><td>383</td><td>9,020</td><td>-</td><td>-</td><td>-</td><td>57</td><td>1,118</td></tr><tr><td>1946</td><td>11,673</td><td>1,301</td><td>-</td><td>-</td><td>-</td><td>-</td><td>360</td><td>9,205</td><td>-</td><td>-</td><td>-</td><td>57</td><td>750</td></tr><tr><td>1947</td><td>11,946</td><td>510</td><td>-</td><td>516</td><td>-</td><td>-</td><td>347</td><td>9,966</td><td>-</td><td>-</td><td>-</td><td>56</td><td>550</td></tr><tr><td>1948</td><td>2,789</td><td>440</td><td>-</td><td>971</td><td>-</td><td>-</td><td>362</td><td>2/</td><td>718</td><td>-</td><td>-</td><td>54</td><td>244</td></tr><tr><td>1949</td><td>6,851</td><td>1,669</td><td>-</td><td>914</td><td>-</td><td>782</td><td>337</td><td>1,856</td><td>1,015</td><td>-</td><td>100</td><td>52</td><td>126</td></tr><tr><td>1950</td><td>8,423</td><td>3,193</td><td>-</td><td>964</td><td>1</td><td>964</td><td>349</td><td>1,456</td><td>1,281</td><td>65</td><td>100</td><td>49</td><td>-</td></tr><tr><td>1951</td><td>9,097</td><td>2,555</td><td>158</td><td>1,040</td><td>1,579</td><td>1,097</td><td>489</td><td>274</td><td>1,540</td><td>114</td><td>100</td><td>44</td><td>107</td></tr><tr><td>1952</td><td>9,636</td><td>1,970</td><td>395</td><td>1,088</td><td>2,082</td><td>1,150</td><td>655</td><td>197</td><td>1,751</td><td>131</td><td>-</td><td>39</td><td>178</td></tr><tr><td>1952-July</td><td>9,525</td><td>1,648</td><td>403</td><td>1,203</td><td>2,087</td><td>1,155</td><td>685</td><td>222</td><td>1,791</td><td>118</td><td>-</td><td>34</td><td>178</td></tr><tr><td>Aug.</td><td>9,581</td><td>1,701</td><td>324</td><td>1,248</td><td>2,121</td><td>1,172</td><td>710</td><td>183</td><td>1,791</td><td>128</td><td>-</td><td>34</td><td>178</td></tr><tr><td>Sept.</td><td>9,713</td><td>1,710</td><td>332</td><td>1,241</td><td>2,147</td><td>1,173</td><td>755</td><td>183</td><td>1,791</td><td>148</td><td>-</td><td>34</td><td>199</td></tr><tr><td>Oct.</td><td>10,013</td><td>1,812</td><td>338</td><td>1,224</td><td>2,201</td><td>1,173</td><td>785</td><td>183</td><td>1,851</td><td>188</td><td>-</td><td>34</td><td>223</td></tr><tr><td>Nov.</td><td>10,240</td><td>1,922</td><td>340</td><td>1,214</td><td>2,242</td><td>1,174</td><td>870</td><td>183</td><td>1,851</td><td>187</td><td>-</td><td>34</td><td>223</td></tr><tr><td>Dec.</td><td>10,606</td><td>2,169</td><td>342</td><td>1,194</td><td>2,283</td><td>1,175</td><td>935</td><td>183</td><td>1,851</td><td>217</td><td>-</td><td>34</td><td>223</td></tr><tr><td>1953-Jan.</td><td>10,709</td><td>2,401</td><td>348</td><td>1,154</td><td>2,328</td><td>1,176</td><td>795</td><td>183</td><td>1,895</td><td>147</td><td>-</td><td>34</td><td>247</td></tr><tr><td>Feb.</td><td>10,953</td><td>2,608</td><td>345</td><td>1,150</td><td>2,361</td><td>1,180</td><td>778</td><td>184</td><td>1,895</td><td>171</td><td>-</td><td>34</td><td>247</td></tr><tr><td>Mar.</td><td>11,079</td><td>2,763</td><td>343</td><td>1,139</td><td>2,419</td><td>1,182</td><td>703</td><td>183</td><td>1,895</td><td>172</td><td>-</td><td>34</td><td>247</td></tr></table>
Source: Daily Treasury Statement.
1/ The securities shown in this table were issued to the Treasury to finance Government corporations and other agencies, with the Treasury itself raising the necessary funds through public debt operations. To avoid duplication, these securities are not included in the guaranteed debt outstanding as shown in preceding tables.
2/ Approved September 8, 1950. Securities consist of notes of the Secretary of the Interior (Defense Minerals Exploration Administration), Reconstruction Finance Corporation, Export-Import Bank of Washington, and the Administrator of the Defense Materiale Procurement Agency (to whom was transferred from the Administrator of General Services Administration, pursuant to Executive Order 10281 of August 28, 1951, the function of borrowing from the Treasury under the terms of the act).
3/ Excludes securities issued under Defense Production Act.
4/ For slum clearance program; includes also Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation beginning
September 1950; and housing loans for educational institutions, beginning July 1951.
2/ This agency superseded the Economic Cooperation Administration, effective December 30, 1951, pursuant to the Mutual Security Act of 1951 (Public Law 165), approved October 10, 1951, and Executive Order 10300, of November 1, 1951.
6/ For Farmers' Home Administration programs.
7/ For Natural Fibers Revolving Fund; activities have been terminated.
8/ Consists of notes issued by Federal Farm Mortgage Corporation and Home Owners' Loan Corporation prior to 1950 and by Virgin Islands Company in 1948-50, and advances under agreement with Veterans' Administration for direct loan program beginning August 1950. For detail, see "Treasury Bulletin" issues before March 1951.
2/ Notes outstanding in the amount of $9,365 million, including interest, were canceled on June 30, 1948, pursuant to the Government Corporations Appropriation Act, 1949 (62 Stat. 1187).
20
Treasury Bulletin
DEBT OUTSTANDING
Table 8.- Public Debt and Guaranteed Securities Outstanding by Months
(End of month, in millions of dollars)
<table><tr><th>Year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td colspan="13">Public debt</td></tr><tr><td>1932</td><td>17,816</td><td>18,126</td><td>18,507</td><td>18,597</td><td>19,037</td><td>19,487</td><td>19,612</td><td>20,067</td><td>20,611</td><td>20,813</td><td>20,806</td><td>20,806</td></tr><tr><td>1933</td><td>20,802</td><td>20,935</td><td>21,362</td><td>21,441</td><td>21,853</td><td>22,539</td><td>22,610</td><td>23,099</td><td>23,051</td><td>23,050</td><td>23,534</td><td>23,814</td></tr><tr><td>1934</td><td>25,068</td><td>26,052</td><td>26,158</td><td>26,118</td><td>26,155</td><td>27,053</td><td>27,189</td><td>27,080</td><td>27,190</td><td>27,188</td><td>27,299</td><td>28,479</td></tr><tr><td>1935</td><td>28,476</td><td>28,526</td><td>28,817</td><td>28,668</td><td>28,638</td><td>28,701</td><td>29,123</td><td>29,033</td><td>29,421</td><td>29,462</td><td>29,634</td><td>30,557</td></tr><tr><td>1936</td><td>30,516</td><td>30,520</td><td>31,459</td><td>31,425</td><td>31,636</td><td>33,779</td><td>33,444</td><td>33,380</td><td>33,833</td><td>33,833</td><td>33,794</td><td>34,407</td></tr><tr><td>1937</td><td>34,502</td><td>34,601</td><td>34,728</td><td>34,941</td><td>35,213</td><td>36,425</td><td>36,716</td><td>37,045</td><td>36,875</td><td>36,956</td><td>37,094</td><td>37,279</td></tr><tr><td>1938</td><td>37,453</td><td>37,633</td><td>37,556</td><td>37,510</td><td>37,422</td><td>37,165</td><td>37,191</td><td>37,593</td><td>38,393</td><td>38,423</td><td>38,603</td><td>39,427</td></tr><tr><td>1939</td><td>39,631</td><td>39,859</td><td>39,985</td><td>40,063</td><td>40,280</td><td>40,440</td><td>40,661</td><td>40,891</td><td>40,858</td><td>41,036</td><td>41,305</td><td>41,942</td></tr><tr><td>1940</td><td>42,110</td><td>42,365</td><td>42,540</td><td>42,658</td><td>42,808</td><td>42,968</td><td>43,771</td><td>43,905</td><td>44,073</td><td>44,137</td><td>44,273</td><td>45,025</td></tr><tr><td>1941</td><td>45,877</td><td>46,090</td><td>47,173</td><td>47,231</td><td>47,721</td><td>48,961</td><td>49,513</td><td>50,921</td><td>51,346</td><td>53,584</td><td>55,040</td><td>57,938</td></tr><tr><td>1942</td><td>60,012</td><td>62,381</td><td>62,419</td><td>64,961</td><td>68,571</td><td>72,422</td><td>77,136</td><td>81,685</td><td>86,483</td><td>92,904</td><td>96,116</td><td>108,170</td></tr><tr><td>1943</td><td>111,069</td><td>114,024</td><td>115,507</td><td>129,849</td><td>135,913</td><td>136,696</td><td>141,524</td><td>144,059</td><td>158,349</td><td>165,047</td><td>166,158</td><td>165,877</td></tr><tr><td>1944</td><td>170,659</td><td>183,107</td><td>184,715</td><td>184,967</td><td>186,366</td><td>201,003</td><td>208,574</td><td>209,802</td><td>209,495</td><td>210,244</td><td>215,005</td><td>230,630</td></tr><tr><td>1945</td><td>232,408</td><td>233,707</td><td>233,950</td><td>235,069</td><td>238,832</td><td>258,682</td><td>262,045</td><td>263,001</td><td>262,020</td><td>261,817</td><td>265,342</td><td>278,115</td></tr><tr><td>1946</td><td>278,887</td><td>279,214</td><td>276,012</td><td>273,898</td><td>272,583</td><td>269,422</td><td>268,270</td><td>267,546</td><td>265,369</td><td>263,532</td><td>262,277</td><td>259,149</td></tr><tr><td>1947</td><td>259,776</td><td>261,418</td><td>259,124</td><td>257,701</td><td>258,343</td><td>258,286</td><td>259,448</td><td>260,097</td><td>259,145</td><td>259,071</td><td>258,212</td><td>256,900</td></tr><tr><td>1948</td><td>256,574</td><td>254,605</td><td>252,990</td><td>252,240</td><td>252,236</td><td>252,292</td><td>253,374</td><td>253,049</td><td>252,687</td><td>252,460</td><td>252,506</td><td>252,800</td></tr><tr><td>1949</td><td>256,620</td><td>252,721</td><td>251,642</td><td>251,530</td><td>251,889</td><td>252,770</td><td>253,877</td><td>255,852</td><td>256,680</td><td>256,778</td><td>256,982</td><td>257,130</td></tr><tr><td>1950</td><td>256,865</td><td>256,368</td><td>255,724</td><td>255,718</td><td>256,350</td><td>257,357</td><td>257,541</td><td>257,874</td><td>257,216</td><td>256,937</td><td>257,077</td><td>256,708</td></tr><tr><td>1951</td><td>256,125</td><td>255,941</td><td>254,997</td><td>254,727</td><td>255,093</td><td>255,222</td><td>255,637</td><td>256,644</td><td>257,353</td><td>258,298</td><td>259,604</td><td>259,419</td></tr><tr><td>1952</td><td>259,775</td><td>260,362</td><td>258,084</td><td>258,292</td><td>259,905</td><td>259,105</td><td>263,073</td><td>263,186</td><td>262,682</td><td>264,919</td><td>267,432</td><td>267,391</td></tr><tr><td>1953</td><td>267,402</td><td>267,584</td><td>264,485</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">Guaranteed securities 1/</td></tr><tr><td>1932</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1933</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>681</td><td>1,064</td><td>1,615</td><td>1,875</td><td>2,596</td><td>2,823</td><td>3,063</td></tr><tr><td>1934</td><td>310</td><td>180</td><td>295</td><td>325</td><td>423</td><td>4,123</td><td>4,205</td><td>4,284</td><td>4,369</td><td>4,421</td><td>4,460</td><td>4,494</td></tr><tr><td>1935</td><td>3,300</td><td>3,180</td><td>3,589</td><td>3,660</td><td>3,728</td><td>4,718</td><td>4,724</td><td>4,669</td><td>4,667</td><td>4,667</td><td>4,662</td><td>4,662</td></tr><tr><td>1936</td><td>4,562</td><td>4,630</td><td>4,654</td><td>4,676</td><td>4,703</td><td>4,665</td><td>4,703</td><td>4,633</td><td>4,633</td><td>4,634</td><td>4,644</td><td>4,645</td></tr><tr><td>1937</td><td>4,662</td><td>4,662</td><td>4,662</td><td>4,660</td><td>4,660</td><td>4,853</td><td>5,004</td><td>5,015</td><td>5,009</td><td>5,001</td><td>4,993</td><td>4,992</td></tr><tr><td>1938</td><td>4,646</td><td>4,646</td><td>4,646</td><td>4,647</td><td>4,852</td><td>4,853</td><td>5,046</td><td>5,015</td><td>5,056</td><td>5,048</td><td>5,708</td><td>5,704</td></tr><tr><td>1939</td><td>4,987</td><td>5,410</td><td>5,410</td><td>5,410</td><td>5,409</td><td>5,450</td><td>5,480</td><td>5,489</td><td>5,456</td><td>5,448</td><td>5,708</td><td>5,704</td></tr><tr><td>1940</td><td>5,699</td><td>5,673</td><td>5,663</td><td>5,677</td><td>5,535</td><td>5,529</td><td>5,526</td><td>5,813</td><td>5,808</td><td>5,810</td><td>5,919</td><td>5,917</td></tr><tr><td>1941</td><td>5,915</td><td>5,914</td><td>5,916</td><td>6,560</td><td>6,371</td><td>6,370</td><td>6,939</td><td>6,937</td><td>6,937</td><td>6,938</td><td>6,324</td><td>6,324</td></tr><tr><td>1942</td><td>5,703</td><td>5,696</td><td>5,690</td><td>5,688</td><td>5,687</td><td>4,568</td><td>4,581</td><td>4,592</td><td>4,574</td><td>4,265</td><td>4,264</td><td>4,301</td></tr><tr><td>1943</td><td>4,291</td><td>4,287</td><td>4,360</td><td>4,372</td><td>4,091</td><td>4,100</td><td>3,791</td><td>3,941</td><td>3,972</td><td>4,119</td><td>4,160</td><td>4,230</td></tr><tr><td>1944</td><td>4,275</td><td>4,233</td><td>2,278</td><td>2,274</td><td>1,669</td><td>1,623</td><td>1,565</td><td>1,566</td><td>1,568</td><td>1,563</td><td>1,533</td><td>1,514</td></tr><tr><td>1945</td><td>1,530</td><td>1,144</td><td>1,144</td><td>1,155</td><td>1,171</td><td>433</td><td>505</td><td>534</td><td>545</td><td>558</td><td>553</td><td>567</td></tr><tr><td>1946</td><td>558</td><td>551</td><td>553</td><td>544</td><td>552</td><td>476</td><td>333</td><td>379</td><td>400</td><td>386</td><td>370</td><td>339</td></tr><tr><td>1947</td><td>270</td><td>188</td><td>182</td><td>178</td><td>177</td><td>90</td><td>80</td><td>79</td><td>76</td><td>83</td><td>89</td><td>81</td></tr><tr><td>1948</td><td>77</td><td>79</td><td>78</td><td>75</td><td>75</td><td>73</td><td>55</td><td>51</td><td>50</td><td>52</td><td>57</td><td>55</td></tr><tr><td>1949</td><td>36</td><td>26</td><td>24</td><td>23</td><td>23</td><td>27</td><td>26</td><td>27</td><td>29</td><td>28</td><td>29</td><td>30</td></tr><tr><td>1950</td><td>27</td><td>27</td><td>24</td><td>22</td><td>20</td><td>20</td><td>16</td><td>18</td><td>20</td><td>22</td><td>24</td><td>24</td></tr><tr><td>1951</td><td>18</td><td>18</td><td>21</td><td>21</td><td>29</td><td>29</td><td>28</td><td>32</td><td>33</td><td>37</td><td>43</td><td>42</td></tr><tr><td>1952</td><td>38</td><td>37</td><td>41</td><td>44</td><td>45</td><td>46</td><td>34</td><td>39</td><td>40</td><td>45</td><td>51</td><td>54</td></tr><tr><td>1953</td><td>48</td><td>50</td><td>51</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">Total Federal securities</td></tr><tr><td>1932</td><td>17,816</td><td>18,126</td><td>18,507</td><td>18,597</td><td>19,037</td><td>19,487</td><td>19,612</td><td>20,067</td><td>20,611</td><td>20,813</td><td>20,806</td><td>20,806</td></tr><tr><td>1933</td><td>20,802</td><td>20,935</td><td>21,362</td><td>21,441</td><td>21,853</td><td>22,539</td><td>22,610</td><td>23,099</td><td>23,051</td><td>23,052</td><td>23,552</td><td>23,994</td></tr><tr><td>1934</td><td>25,378</td><td>26,232</td><td>26,453</td><td>26,443</td><td>26,578</td><td>27,734</td><td>28,254</td><td>28,695</td><td>29,004</td><td>29,784</td><td>30,122</td><td>31,543</td></tr><tr><td>1935</td><td>31,776</td><td>32,006</td><td>32,406</td><td>32,388</td><td>32,357</td><td>32,824</td><td>33,328</td><td>33,280</td><td>33,790</td><td>33,882</td><td>34,094</td><td>35,052</td></tr><tr><td>1936</td><td>35,078</td><td>35,150</td><td>36,113</td><td>36,101</td><td>36,339</td><td>38,497</td><td>38,168</td><td>38,049</td><td>38,500</td><td>38,500</td><td>38,456</td><td>39,069</td></tr><tr><td>1937</td><td>39,164</td><td>39,263</td><td>39,390</td><td>39,601</td><td>39,873</td><td>41,089</td><td>41,419</td><td>41,678</td><td>41,508</td><td>41,590</td><td>41,738</td><td>41,924</td></tr><tr><td>1938</td><td>42,099</td><td>42,279</td><td>42,202</td><td>42,157</td><td>42,274</td><td>42,017</td><td>42,255</td><td>42,608</td><td>43,402</td><td>43,424</td><td>43,596</td><td>44,419</td></tr><tr><td>1939</td><td>44,613</td><td>45,269</td><td>45,395</td><td>45,473</td><td>45,692</td><td>45,890</td><td>46,141</td><td>46,380</td><td>46,314</td><td>46,484</td><td>47,013</td><td>47,646</td></tr><tr><td>1940</td><td>47,809</td><td>48,038</td><td>48,203</td><td>48,315</td><td>48,343</td><td>48,497</td><td>49,297</td><td>49,718</td><td>49,881</td><td>49,947</td><td>50,132</td><td>50,942</td></tr><tr><td>1941</td><td>51,792</td><td>52,004</td><td>53,089</td><td>53,791</td><td>54,092</td><td>55,332</td><td>56,452</td><td>57,858</td><td>58,283</td><td>60,522</td><td>61,364</td><td>64,262</td></tr><tr><td>1942</td><td>65,715</td><td>68,077</td><td>68,129</td><td>70,649</td><td>74,258</td><td>76,991</td><td>81,717</td><td>86,277</td><td>91,057</td><td>97,169</td><td>100,380</td><td>112,471</td></tr><tr><td>1943</td><td>115,360</td><td>118,311</td><td>113,867</td><td>134,221</td><td>140,004</td><td>140,796</td><td>145,316</td><td>148,000</td><td>162,321</td><td>169,166</td><td>170,318</td><td>170,100</td></tr><tr><td>1944</td><td>174,933</td><td>181,339</td><td>186,993</td><td>187,241</td><td>188,035</td><td>202,626</td><td>210,138</td><td>211,369</td><td>211,064</td><td>211,807</td><td>216,537</td><td>232,144</td></tr><tr><td>1945</td><td>233,938</td><td>231,851</td><td>235,094</td><td>236,224</td><td>240,003</td><td>259,115</td><td>262,550</td><td>263,535</td><td>262,565</td><td>262,376</td><td>265,894</td><td>278,688</td></tr><tr><td>1946</td><td>279,445</td><td>279,764</td><td>276,565</td><td>274,443</td><td>273,135</td><td>269,898</td><td>268,603</td><td>267,924</td><td>265,768</td><td>263,918</td><td>262,646</td><td>259,487</td></tr><tr><td>1947</td><td>260,046</td><td>261,606</td><td>259,306</td><td>257,880</td><td>258
Source: Daily Treasury Statement; Office of the Treasurer of the United States; for guaranteed securities prior to July 1942, Statement of Contingent Liabilities—For public debt outstanding by years, beginning 1790, see 1952
Annual Report of the Secretary of the Treasury, p. 557.
1/ Obligations, issued by certain Government corporations and other agencies, which are guaranteed by the United States as to both principal and interest.
Such obligations were first authorized in 1932. Prior to September 1939, the figures represent principal shown as a contingent liability of the United States; beginning September 1939, they represent principal outstanding, both matured and unmatured. Guaranteed securities held by the Treasury are excluded.
May 1955
21
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended, (31 U.S.C. 757 b), provides that the face amount of obligations issued under authority of that act, and the face amount of 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
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 owner, are included in the statutory debt limitation at current redemption values.
Table 1.- Status under Limitation, March 31, 1953
(In millions of dollars)
<table><tr><td>Maximum amount of securities which may be outstanding at any one time, under limitation imposed by the act of June 26, 1946 (31 U.S.C. 757 b)</td><td>275,000</td></tr><tr><td>Amount of securities outstanding subject to such statutory debt limitation:</td><td></td></tr><tr><td>U. S. Government securities issued under the Second Liberty Bond Act, as amended</td><td>263,877</td></tr><tr><td>Guaranteed securities (excluding those held by the Treasury)</td><td>51</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation</td><td>263,929</td></tr><tr><td>Balance issuable under limitation</td><td>11,071</td></tr></table>
Source: Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding March 31, 1953
(In millions of dollars)
<table><tr><th>Class of security</th><th>Subject to statutory debt limitation</th><th>Not subject to statutory debt limitation</th><th>Total outstanding</th></tr><tr><td><b>Public debt:</b></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td></tr><tr><td>Marketable:</td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>19,211</td><td>-</td><td>19,211</td></tr><tr><td>Certificates of indebtedness</td><td>15,959</td><td>-</td><td>15,959</td></tr><tr><td>Treasury notes</td><td>30,327</td><td>-</td><td>30,327</td></tr><tr><td>Treasury bonds - bank eligible</td><td>59,358</td><td>-</td><td>59,358</td></tr><tr><td>Treasury bonds - bank restricted 1/</td><td>21,009</td><td>-</td><td>21,009</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>-</td><td>124</td><td>124</td></tr><tr><td>Total marketable</td><td>145,865</td><td>124</td><td>145,988</td></tr><tr><td>Normarketable:</td><td></td><td></td><td></td></tr><tr><td>U.S. savings bonds (current redemption value)</td><td>58,371</td><td>-</td><td>58,371</td></tr><tr><td>Treasury savings notes</td><td>4,879</td><td>-</td><td>4,879</td></tr><tr><td>Depositary bonds</td><td>400</td><td>-</td><td>400</td></tr><tr><td>Treasury bonds, investment series</td><td>13,387</td><td>-</td><td>13,387</td></tr><tr><td>Total normarketable</td><td>77,037</td><td>-</td><td>77,037</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td>39,354</td><td>-</td><td>39,354</td></tr><tr><td>Total interest-bearing securities</td><td>262,256</td><td>124</td><td>262,380</td></tr><tr><td>Matured securities on which interest has ceased</td><td>312</td><td>4</td><td>316</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td></tr><tr><td>United States savings stamps</td><td>50</td><td>-</td><td>50</td></tr><tr><td>Excess profits tax refund bonds</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Special notes of the United States:</td><td></td><td></td><td></td></tr><tr><td>International Monetary Fund Series</td><td>1,258</td><td>-</td><td>1,258</td></tr><tr><td>United States notes (less gold reserve)</td><td>-</td><td>191</td><td>191</td></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>-</td><td>283</td><td>283</td></tr><tr><td>Other debt bearing no interest</td><td>-</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>1,309</td><td>479</td><td>1,789</td></tr><tr><td>Total public debt</td><td>263,877</td><td>603</td><td>264,485</td></tr><tr><td>Guaranteed securities: 2/</td><td></td><td></td><td></td></tr><tr><td>Interest-bearing</td><td>50</td><td>-</td><td>50</td></tr><tr><td>Matured</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Total guaranteed securities</td><td>51</td><td>-</td><td>51</td></tr><tr><td>Total public debt and guaranteed securities</td><td>263,929</td><td>608</td><td>264,536</td></tr></table>
Source: Bureau of the Public Debt.
1/ Issues which commercial banks may not acquire prior to specified dates
(with minor exceptions). See "Debt Outstanding", Table 3, footnote 1.
2/ Excludes guaranteed securities held by the Treasury.
22
Treasury Bulletin
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding March 31, 1953 1/
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become bank eligible 3/</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become bank eligible 3/</th></tr><tr><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th></tr><tr><td>1953</td><td>Apr. Bills</td><td>6,901</td><td>-</td><td>-</td><td>1956</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>1,449</td><td>-</td><td>-</td></tr><tr><td>May. Bills</td><td>5,403</td><td>-</td><td>-</td><td>Apr. 1-1/2% Note - 4/1/56-EA</td><td>1,007</td><td>-</td><td>-</td></tr><tr><td>June. Bills</td><td>4,904</td><td>-</td><td>-</td><td>June. 2-1/4% Bond - 6/15/54-56</td><td>-</td><td>-</td><td>681</td></tr><tr><td>Bills (Tax Anticipation Series).</td><td>2,003</td><td>-</td><td>-</td><td>Sept. 2-3/4% Bond - 9/15/56-59</td><td>-</td><td>982</td><td>-</td></tr><tr><td>1-7/8% Certificate - 6/1/53-B</td><td>4,963</td><td>-</td><td>-</td><td>2-1/4% Bond - 9/15/56-59</td><td>-</td><td>3,822</td><td>-</td></tr><tr><td>2% Bond</td><td>725</td><td>-</td><td>-</td><td>Oct. 1-1/2% Note - 10/1/56-BO</td><td>550</td><td>-</td><td>-</td></tr><tr><td>Aug. 2% Certificate - 8/15/53-C</td><td>2,882</td><td>-</td><td>-</td><td>Total</td><td>1,557</td><td>6,253</td><td>681</td></tr><tr><td>Sept. 2% Bond 4/ - 9/15/51-53</td><td>7,986</td><td>-</td><td>-</td><td>1957</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>927</td><td>-</td></tr><tr><td>Dec. 2-1/8% Note - 12/1/53-A</td><td>10,542</td><td>-</td><td>-</td><td>Mar. 1-1/2% Note - 4/1/57-EA</td><td>531</td><td>-</td><td>-</td></tr><tr><td>2% Bond 5/ - 12/15/51-55</td><td>-</td><td>510</td><td>-</td><td>Oct. 1-1/2% Note - 10/1/57-EO</td><td>804</td><td>-</td><td>-</td></tr><tr><td>2% Bond 5/ - 6/15/52-54</td><td>-</td><td>5,825</td><td>-</td><td>Total</td><td>1,335</td><td>927</td><td>-</td></tr><tr><td>2-1/4% Bond 5/ - 6/15/52-55</td><td>-</td><td>1,501</td><td>-</td><td>1958</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>-</td><td>1,449</td></tr><tr><td>2% Bond 5/ - 12/15/52-54</td><td>-</td><td>8,662</td><td>-</td><td>June. 2-3/8% Bond - 6/15/58</td><td>4,245</td><td>-</td><td>915</td></tr><tr><td>Total</td><td>46,308</td><td>16,499</td><td>-</td><td>2-3/4% Bond - 6/15/58-63</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1954</td><td>Feb. 2-1/4% Certificate - 2/15/54-A</td><td>8,114</td><td>-</td><td>Dec. 2-1/2% Bond - 12/15/58</td><td>620</td><td>-</td><td>-</td></tr><tr><td>Mar. 1-3/8% Note - 3/15/54-A</td><td>4,675</td><td>-</td><td>-</td><td>Total</td><td>4,865</td><td>919</td><td>1,449</td></tr><tr><td>June. 2% Bond - 6/15/52-54</td><td>-</td><td>-</td><td>5,825</td><td>1959</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>-</td><td>927</td></tr><tr><td>2-1/4% Bond - 6/15/54-56</td><td>-</td><td>681</td><td>-</td><td>June. 2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,280</td><td>-</td></tr><tr><td>Dec. 2% Bond - 12/15/52-54</td><td>-</td><td>-</td><td>8,662</td><td>Sept. 2-3/4% Bond - 9/15/56-59</td><td>-</td><td>-</td><td>982</td></tr><tr><td>Total</td><td>12,789</td><td>681</td><td>14,487</td><td>2-1/4% Bond - 9/15/56-59</td><td>-</td><td>-</td><td>3,822</td></tr><tr><td>1955</td><td>Mar. 1-1/2% Note - 3/15/55-A</td><td>5,365</td><td>-</td><td>Dec. 2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,467</td><td>-</td></tr><tr><td>2-7/8% Bond - 3/15/55-60</td><td>-</td><td>2,611</td><td>-</td><td>Total</td><td>-</td><td>8,747</td><td>5,731</td></tr><tr><td>June. 2-1/4% Bond - 6/15/52-55</td><td>-</td><td>-</td><td>1,501</td><td>1960</td><td>2-7/8% Bond - 3/15/55-60</td><td>-</td><td>-</td><td>2,611</td></tr><tr><td>Dec. 2% Bond - 12/15/51-55</td><td>-</td><td>-</td><td>510</td><td>Mar. 2-3/4% Bond - 12/15/60-65</td><td>-</td><td>1,485</td><td>-</td></tr><tr><td>1-3/4% Note - 12/15/55-B</td><td>6,854</td><td>-</td><td>-</td><td>Total</td><td>-</td><td>1,485</td><td>2,611</td></tr><tr><td>Total</td><td>12,219</td><td>2,611</td><td>2,011</td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of table.
(Continued on following page)
May 1955
23
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding March 31, 1953 1/-(Continued)
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Amount of maturities</th><th>Date bank re-stricted issues become bank eligible 3/</th></tr><tr><th></th><th></th><th>Fixed matur-ity issues</th><th colspan="2">Callable issues classified by year of:</th><th></th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final matur-ity</th><th></th></tr><tr><td>1961<br>June..</td><td>3% Panama Canal bond - 6/1/61</td><td>50</td><td>-</td><td>-</td><td>......</td></tr><tr><td>1962<br>June..</td><td>2-1/4% Bond - 6/15/59-62.........</td><td>-</td><td>-</td><td>5,280</td><td>......</td></tr><tr><td></td><td>2-1/2% Bond - 6/15/62-67.........</td><td>-</td><td>2,117</td><td>-</td><td>......</td></tr><tr><td>Dec..</td><td>2-1/4% Bond - 12/15/59-62.........</td><td>-</td><td>-</td><td>3,467</td><td>......</td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>2,117</td><td>8,747</td><td></td></tr><tr><td>1963<br>June..</td><td>2-3/4% Bond - 6/15/58-63.........</td><td>-</td><td>-</td><td>919</td><td>......</td></tr><tr><td>Dec..</td><td>2-1/2% Bond - 12/15/63-68.........</td><td>-</td><td>2,828</td><td>-</td><td>......</td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>2,828</td><td>919</td><td></td></tr><tr><td>1964<br>June..</td><td>2-1/2% Bond - 6/15/64-69.........</td><td>-</td><td>3,757</td><td>-</td><td>4/15/53</td></tr><tr><td>Dec..</td><td>2-1/2% Bond - 12/15/64-69.........</td><td>-</td><td>3,833</td><td>-</td><td>9/15/53</td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>7,590</td><td>-</td><td></td></tr><tr><td>1965<br>Mar..</td><td>2-1/2% Bond - 3/15/65-70.........</td><td>-</td><td>4,724</td><td>-</td><td>2/1/54</td></tr><tr><td>Dec..</td><td>2-3/4% Bond - 12/15/60-65.........</td><td>-</td><td>-</td><td>1,485</td><td>......</td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>4,724</td><td>1,485</td><td></td></tr><tr><td>1966<br>Mar..</td><td>2-1/2% Bond - 3/15/66-71.........</td><td>-</td><td>2,966</td><td>-</td><td>12/1/54</td></tr></table>
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="2">Amount of maturities</th><th>Date bank re-stricted issues become eligible 3/</th></tr><tr><th></th><th></th><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th></th></tr><tr><td>1967<br>June.</td><td>2-1/2% Bond - 6/15/62-67.........<br>2-1/2% Bond - 6/15/67-72.........</td><td>-</td><td>1,893</td><td>2,117</td><td>6/15/62</td></tr><tr><td>Sept.</td><td>2-1/2% Bond - 9/15/67-72.........</td><td>-</td><td>2,716</td><td>-</td><td></td></tr><tr><td>Deco.</td><td>2-1/2% Bond - 12/15/67-72.........</td><td>-</td><td>3,834</td><td>-</td><td>12/15/62</td></tr><tr><td></td><td>Total.......................</td><td>-</td><td>8,446</td><td>2,117</td><td></td></tr><tr><td>1968<br>Deco.</td><td>2-1/2% Bond - 12/15/63-68.........</td><td>-</td><td>-</td><td>2,828</td><td></td></tr><tr><td>1969<br>June.</td><td>2-1/2% Bond - 6/15/64-69.........</td><td>-</td><td>-</td><td>3,757</td><td>4/15/53</td></tr><tr><td>Deco.</td><td>2-1/2% Bond - 12/15/64-69.........</td><td>-</td><td>-</td><td>3,833</td><td>9/15/53</td></tr><tr><td></td><td>Total.......................</td><td>-</td><td>-</td><td>7,590</td><td></td></tr><tr><td>1970<br>Mar.</td><td>2-1/2% Bond - 3/15/65-70.........</td><td>-</td><td>-</td><td>4,724</td><td>2/1/54</td></tr><tr><td>1971<br>Mar.</td><td>2-1/2% Bond - 3/15/66-71.........</td><td>-</td><td>-</td><td>2,966</td><td>12/1/54</td></tr><tr><td>1972<br>June.</td><td>2-1/2% Bond - 6/15/67-72.........</td><td>-</td><td>-</td><td>1,895</td><td>6/15/62</td></tr><tr><td>Sept.</td><td>2-1/2% Bond - 9/15/67-72.........</td><td>-</td><td>-</td><td>2,716</td><td></td></tr><tr><td>Deco.</td><td>2-1/2% Bond - 12/15/67-72.........</td><td>-</td><td>-</td><td>3,834</td><td>12/15/62</td></tr><tr><td></td><td>Total.......................</td><td>-</td><td>-</td><td>8,446</td><td></td></tr></table>
Source: Daily Treasury Statement and Bureau of the Public Debt. 1/ Excludes postal savings bonds. 2/ It should be noted that callable issues appear twice in this column, once in the year of first call and again in the year of final maturity. Callable issues with respect to which a definite notice of call has been made, however, are listed as fixed maturities. For date of issue of each security, see "Market Quotations"; for tax status, see "Treasury Survey of Ownership".
1/ Bank restricted issues may not be acquired by commercial banks (with minor exceptions) prior to specified dates; see "Debt Outstanding", Table 3, footnote 1.
4/ Not called for redemption on March 15, 1953. Will mature on September 15, 1953.
5/ Not called for redemption on June 15, 1953. Callable on four months' notice on December 15, 1953, succeeding interest payment date.
24
Treasury Bulletin
DEBT OPERATIONS
Table 2.- Offerings of Treasury Bills
(Dollar amounts in millions)
<table><tr><th>Issue date</th><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th colspan="4">Amount of bids accepted</th><th>Amount maturing on issue date of new offering</th><th>Total unma-tured issues outstanding after new issues</th></tr><tr><th></th><th></th><th></th><th></th><th>Total amount</th><th>On compet-itive basis</th><th>On noncompeti-tive basis 1/</th><th>In exchange</th><th></th><th></th></tr><tr><td colspan="10">Regular Series:</td></tr><tr><td>1952-Dec. 4.</td><td>Mar. 5.</td><td>91</td><td>1,836.4</td><td>1,300.7</td><td>1,118.4</td><td>132.4</td><td>44.0</td><td>1,300.3</td><td>17,211.6</td></tr><tr><td>Dec. 11.</td><td>Mar. 12.</td><td>91</td><td>1,943.7</td><td>1,200.3</td><td>966.1</td><td>234.3</td><td>56.0</td><td>1,200.9</td><td>17,211.0</td></tr><tr><td>Dec. 13.</td><td>Mar. 13.</td><td>91</td><td>1,713.1</td><td>1,200.0</td><td>959.3</td><td>240.7</td><td>44.0</td><td>1,202.3</td><td>17,208.1</td></tr><tr><td>Dec. 26.</td><td>Mar. 26.</td><td>90</td><td>1,775.2</td><td>1,200.3</td><td>977.1</td><td>223.2</td><td>38.3</td><td>1,200.4</td><td>17,208.0</td></tr><tr><td>1953-Jan. 2.</td><td>Apr. 2.</td><td>90</td><td>2,098.2</td><td>1,200.7</td><td>991.4</td><td>209.3</td><td>39.0</td><td>1,200.0</td><td>17,208.7</td></tr><tr><td>Jan. 9.</td><td>Apr. 9.</td><td>91</td><td>2,057.8</td><td>1,399.4</td><td>1,166.3</td><td>233.1</td><td>136.4</td><td>1,400.1</td><td>17,208.0</td></tr><tr><td>Jan. 15.</td><td>Apr. 16.</td><td>91</td><td>2,036.0</td><td>1,400.2</td><td>1,143.1</td><td>257.1</td><td>227.5</td><td>1,401.2</td><td>17,207.0</td></tr><tr><td>Jan. 22.</td><td>Apr. 23.</td><td>91</td><td>2,127.1</td><td>1,400.4</td><td>1,160.5</td><td>239.9</td><td>145.7</td><td>1,401.5</td><td>17,205.9</td></tr><tr><td>Jan. 29.</td><td>Apr. 30.</td><td>91</td><td>2,383.3</td><td>1,500.4</td><td>1,237.6</td><td>262.9</td><td>53.4</td><td>1,501.4</td><td>17,204.9</td></tr><tr><td>Feb. 5.</td><td>May 7.</td><td>91</td><td>2,133.0</td><td>1,300.4</td><td>1,083.4</td><td>217.0</td><td>144.3</td><td>1,301.0</td><td>17,204.2</td></tr><tr><td>Feb. 13.</td><td>May 14.</td><td>90</td><td>2,386.0</td><td>1,500.5</td><td>1,259.9</td><td>240.5</td><td>154.3</td><td>1,500.9</td><td>17,203.9</td></tr><tr><td>Feb. 19.</td><td>May 21.</td><td>91</td><td>2,291.5</td><td>1,301.2</td><td>1,059.2</td><td>242.0</td><td>76.5</td><td>1,300.5</td><td>17,204.6</td></tr><tr><td>Feb. 26.</td><td>May 28.</td><td>91</td><td>1,993.1</td><td>1,300.7</td><td>1,104.4</td><td>196.3</td><td>63.5</td><td>1,300.0</td><td>17,205.3</td></tr><tr><td>Mar. 5.</td><td>June 4.</td><td>91</td><td>1,997.5</td><td>1,301.4</td><td>1,102.7</td><td>198.7</td><td>39.9</td><td>1,300.7</td><td>17,205.9</td></tr><tr><td>Mar. 12.</td><td>June 11.</td><td>91</td><td>2,442.1</td><td>1,201.9</td><td>971.8</td><td>230.1</td><td>71.2</td><td>1,200.3</td><td>17,207.5</td></tr><tr><td>Mar. 19.</td><td>June 18.</td><td>91</td><td>2,388.0</td><td>1,200.5</td><td>925.5</td><td>275.0</td><td>56.5</td><td>1,200.0</td><td>17,208.0</td></tr><tr><td>Mar. 26.</td><td>June 25.</td><td>91</td><td>2,229.6</td><td>1,200.7</td><td>959.8</td><td>240.9</td><td>43.9</td><td>1,200.3</td><td>17,208.3</td></tr><tr><td>Apr. 2 p.</td><td>July 2.</td><td>91</td><td>1,943.3</td><td>1,200.5</td><td>999.2</td><td>201.3</td><td>38.5</td><td>1,200.7</td><td>17,208.2</td></tr><tr><td>Apr. 9 p.</td><td>July 9.</td><td>91</td><td>2,275.4</td><td>1,400.8</td><td>1,180.0</td><td>220.9</td><td>40.5</td><td>1,399.4</td><td>17,209.6</td></tr><tr><td>Apr. 16 p.</td><td>July 16.</td><td>91</td><td>2,098.6</td><td>1,400.7</td><td>1,146.1</td><td>254.6</td><td>211.5</td><td>1,400.2</td><td>17,210.2</td></tr><tr><td>Apr. 23 p.</td><td>July 23.</td><td>91</td><td>2,202.3</td><td>1,500.5</td><td>1,238.5</td><td>262.0</td><td>323.6</td><td>1,400.4</td><td>17,310.3</td></tr><tr><td>Apr. 30 p.</td><td>July 30.</td><td>91</td><td>2,184.0</td><td>1,499.9</td><td>1,250.5</td><td>249.4</td><td>72.1</td><td>1,500.4</td><td>17,309.9</td></tr><tr><td colspan="10">Tax Anticipation Series:</td></tr><tr><td>1952-Oct. 3.</td><td>1953-Mar. 18.</td><td>161</td><td>3,279.1</td><td>2,501.9</td><td>2,300.7</td><td>201.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Nov. 21.</td><td>June 19.</td><td>210</td><td>3,923.3</td><td>2,002.7</td><td>1,776.3</td><td>226.4</td><td>-</td><td>-</td><td>2,002.7</td></tr></table>
<table><tr><th>Issue date</th><th colspan="2">On total bids accepted -</th><th colspan="4">On competitive bids accepted -</th></tr><tr><th></th><th>Average price per hundred</th><th>Equivalent average rate 2/</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th>Regular Series:</th><th></th><th>(Percent)</th><th>Price per hundred</th><th>Equivalent rate 2/</th><th>Price per hundred</th><th>Equivalent rate 2/</th></tr><tr><td>1952-Dec. 1</td><td>99.482</td><td>2.049</td><td>99.550</td><td>1.780</td><td>99.469</td><td>2.101</td></tr><tr><td>Dec. 11</td><td>99.471</td><td>2.091</td><td>99.517</td><td>1.911</td><td>99.456</td><td>2.113</td></tr><tr><td>Dec. 18</td><td>99.460</td><td>2.138</td><td>99.555</td><td>1.760</td><td>99.450</td><td>2.176</td></tr><tr><td>Dec. 26</td><td>99.443</td><td>2.228</td><td>99.498</td><td>2.003</td><td>99.433</td><td>2.268</td></tr><tr><td>1953-Jan. 2</td><td>99.452</td><td>2.191</td><td>99.463 3/</td><td>2.148</td><td>99.447</td><td>2.212</td></tr><tr><td>Jan. 8</td><td>99.498</td><td>1.986</td><td>99.525 1/</td><td>1.879</td><td>99.493</td><td>2.006</td></tr><tr><td>Jan. 15</td><td>99.463</td><td>2.124</td><td>99.550</td><td>1.780</td><td>99.454</td><td>2.160</td></tr><tr><td>Jan. 22</td><td>99.470</td><td>2.097</td><td>99.520</td><td>1.899</td><td>99.464</td><td>2.120</td></tr><tr><td>Jan. 29</td><td>99.504</td><td>1.961</td><td>99.575</td><td>1.681</td><td>99.500</td><td>1.978</td></tr><tr><td>Feb. 5</td><td>99.487</td><td>2.031</td><td>99.525 5/</td><td>1.879</td><td>99.482</td><td>2.049</td></tr><tr><td>Feb. 13</td><td>99.502</td><td>1.993</td><td>99.520</td><td>1.920</td><td>99.499</td><td>2.004</td></tr><tr><td>Feb. 19</td><td>99.500</td><td>1.977</td><td>99.520</td><td>1.899</td><td>99.498</td><td>1.986</td></tr><tr><td>Feb. 26</td><td>99.477</td><td>2.070</td><td>99.550</td><td>1.780</td><td>99.470</td><td>2.097</td></tr><tr><td>Mar. 5</td><td>99.453</td><td>2.164</td><td>99.500</td><td>1.978</td><td>99.448</td><td>2.184</td></tr><tr><td>Mar. 12</td><td>99.470</td><td>2.098</td><td>99.476 6/</td><td>2.073</td><td>99.468</td><td>2.105</td></tr><tr><td>Mar. 19</td><td>99.487</td><td>2.029</td><td>99.500</td><td>1.978</td><td>99.485</td><td>2.037</td></tr><tr><td>Mar. 26</td><td>99.485</td><td>2.036</td><td>99.522</td><td>1.891</td><td>99.484</td><td>2.041</td></tr><tr><td>Apr. 2 p</td><td>99.487</td><td>2.029</td><td>99.494</td><td>2.002</td><td>99.485</td><td>2.037</td></tr><tr><td>Apr. 9 p</td><td>99.476</td><td>2.073</td><td>99.507</td><td>1.950</td><td>99.472</td><td>2.089</td></tr><tr><td>Apr. 16 p</td><td>99.439</td><td>2.219</td><td>99.494</td><td>2.002</td><td>99.431</td><td>2.251</td></tr><tr><td>Apr. 23 p</td><td>99.414</td><td>2.320</td><td>99.494</td><td>2.002</td><td>99.410</td><td>2.334</td></tr><tr><td>Apr. 30 p</td><td>99.433</td><td>2.243</td><td>99.460</td><td>2.136</td><td>99.426</td><td>2.271</td></tr><tr><th>Tax Anticipation Series:</th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1952-Oct. 8</td><td>99.231</td><td>1.720</td><td>99.284 1/</td><td>1.601</td><td>99.204</td><td>1.780</td></tr><tr><td>Nov. 21</td><td>98.923</td><td>1.846</td><td>99.000 8/</td><td>1.714</td><td>98.915</td><td>1.860</td></tr></table>
Sources: Bureau of the Public Debt.
1/ Tenders for $200,000 or less from any one bidder are accepted in full at average prices on competitive bids.
2/ Bank discount basis.
3/ Except $200,000 at 99.498 and $300,000 at 99.480.
4/ Except $50,000 at 99.550.
5/ Except $200,000 at 99.544 and $100,000 at 99.570
6/ Except $200,000 at 99.500.
7/ Except $500,000 at 99.307 and $20,000 at 99.329.
8/ Except $50,000 at 99.250.
p Preliminary.
May 1955
25
DEBT OPERATIONS
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date subscription books were opened</th><th>Issue date</th><th>Description of security</th><th colspan="2">Period from issue date to -</th><th colspan="2">Amount of subscriptions tendered</th><th colspan="2">Amount issued</th><th>Allocation ratio</th></tr><tr><th></th><th></th><th></th><th>Maturity</th><th>First call</th><th>Cash 1/</th><th>Exchange</th><th>For cash 1/</th><th>In exchange for other securities</th><th></th></tr><tr><td colspan="10">(In millions of dollars)</td></tr><tr><td>1/20/48</td><td>2/1/48</td><td>1-1/8% Certificate - 2/1/49-B</td><td>1 yr</td><td>............</td><td>-</td><td>2,189</td><td>-</td><td>2,189</td><td>100</td></tr><tr><td>2/18/48</td><td>3/1/48</td><td>1-1/8% Certificate - 3/1/49-C</td><td>1 yr</td><td>............</td><td>-</td><td>3,553</td><td>-</td><td>3,553</td><td>100</td></tr><tr><td>3/22/48</td><td>4/1/48</td><td>1-1/8% Certificate - 4/1/49-D</td><td>1 yr</td><td>............</td><td>-</td><td>1,055</td><td>-</td><td>1,055</td><td>100</td></tr><tr><td>5/19/48</td><td>6/1/48</td><td>1-1/8% Certificate - 6/1/49-K</td><td>1 yr</td><td>............</td><td>-</td><td>4,301</td><td>-</td><td>4,301</td><td>100</td></tr><tr><td>6/21/48</td><td>7/1/48</td><td>1-1/8% Certificate - 7/1/49-P</td><td>1 yr</td><td>............</td><td>-</td><td>5,783</td><td>-</td><td>5,783</td><td>100</td></tr><tr><td>9/1/48</td><td>9/15/48</td><td>1-3/8% Note</td><td>1 yr</td><td>6 1/2 m</td><td>............</td><td>3,596</td><td>-</td><td>3,596</td><td>100</td></tr><tr><td>9/20/48</td><td>10/1/48</td><td>1-1/4% Certificate - 10/1/49-A</td><td>1 yr</td><td>............</td><td>-</td><td>6,535</td><td>-</td><td>6,535</td><td>100</td></tr><tr><td>12/6/48</td><td>12/15/48</td><td>1-1/4% Certificate - 12/15/49-B</td><td>1 yr</td><td>............</td><td>-</td><td>519</td><td>-</td><td>519</td><td>100</td></tr><tr><td>12/15/48</td><td>1/1/49</td><td>1-1/4% Certificate - 1/1/50-A</td><td>1 yr</td><td>............</td><td>-</td><td>5,695</td><td>-</td><td>5,695</td><td>100</td></tr><tr><td>1/19/49</td><td>2/1/49</td><td>1-1/4% Certificate - 2/1/50-B</td><td>1 yr</td><td>............</td><td>-</td><td>1,993</td><td>-</td><td>1,993</td><td>100</td></tr><tr><td>2/15/49</td><td>3/1/49</td><td>1-1/4% Certificate - 3/1/50-C</td><td>1 yr</td><td>............</td><td>-</td><td>2,922</td><td>-</td><td>2,922</td><td>100</td></tr><tr><td>3/21/49</td><td>4/1/49</td><td>1-1/4% Certificate - 4/1/50-D</td><td>1 yr</td><td>............</td><td>-</td><td>963</td><td>-</td><td>963</td><td>100</td></tr><tr><td>5/19/49</td><td>6/1/49</td><td>1-1/4% Certificate - 6/1/50-E</td><td>1 yr</td><td>............</td><td>-</td><td>5,019</td><td>-</td><td>5,019</td><td>100</td></tr><tr><td>6/20/49</td><td>7/1/49</td><td>1-1/4% Certificate - 7/1/50-F</td><td>1 yr</td><td>............</td><td>-</td><td>5,601</td><td>-</td><td>5,601</td><td>100</td></tr><tr><td>8/21/49</td><td>9/15/49</td><td>1-1/8% Certificate - 9/15/50-G</td><td>1 yr</td><td>............</td><td>-</td><td>1,197</td><td>-</td><td>1,197</td><td>100</td></tr><tr><td>9/29/49</td><td>10/1/49</td><td>1-1/8% Certificate - 10/1/50-H</td><td>1 yr</td><td>............</td><td>-</td><td>6,248</td><td>-</td><td>6,248</td><td>100</td></tr><tr><td>12/5/49</td><td>12/15/49</td><td>1-3/8% Note - 3/15/54-A</td><td>4 yr</td><td>3 m</td><td>............</td><td>4,675</td><td>-</td><td>4,675</td><td>100</td></tr><tr><td>12/19/49</td><td>1/1/50</td><td>1-1/8% Certificate - 1/1/51-A</td><td>1 yr</td><td>............</td><td>-</td><td>5,373</td><td>-</td><td>5,373</td><td>100</td></tr><tr><td>1/20/50</td><td>2/1/50</td><td>1-1/4% Note - 10/1/51-A</td><td>1 yr</td><td>8 m</td><td>............</td><td>1,918</td><td>-</td><td>1,918</td><td>100</td></tr><tr><td>2/17/50</td><td>3/1/50</td><td>1-1/4% Note - 7/1/51-B</td><td>1 yr</td><td>4 m</td><td>............</td><td>2,741</td><td>-</td><td>2,741</td><td>100</td></tr><tr><td>2/17/50</td><td>3/15/50</td><td>1-1/2% Note - 3/15/55-A</td><td>5 yr</td><td>............</td><td>-</td><td>5,365</td><td>-</td><td>5,365</td><td>100</td></tr><tr><td>3/20/50</td><td>4/1/50</td><td>1-1/4% Note - 7/1/51-C</td><td>1 yr</td><td>3 m</td><td>............</td><td>886</td><td>-</td><td>886</td><td>100</td></tr><tr><td>5/22/50</td><td>6/1/50</td><td>1-1/4% Note - 7/1/51-D</td><td>1 yr</td><td>1 m</td><td>............</td><td>4,818</td><td>-</td><td>4,818</td><td>100</td></tr><tr><td>6/21/50</td><td>7/1/50</td><td>1-1/4% Note - 8/1/51-E</td><td>1 yr</td><td>1 m</td><td>............</td><td>5,351</td><td>-</td><td>5,351</td><td>100</td></tr><tr><td>9/5/50</td><td>9/15/50</td><td>1-1/4% Note - 10/15/51-F</td><td>1 yr</td><td>1 m</td><td>............</td><td>5,941</td><td>-</td><td>5,941</td><td>100</td></tr><tr><td>9/18/50</td><td>10/1/50</td><td>1-1/4% Note - 11/1/51-G</td><td>1 yr</td><td>1 m</td><td>............</td><td>5,253</td><td>-</td><td>5,253</td><td>100</td></tr><tr><td>12/4/50</td><td>12/15/50</td><td>1-3/4% Note - 12/15/55-B</td><td>5 yr</td><td>............</td><td>-</td><td>6,854</td><td>-</td><td>6,854</td><td>100</td></tr><tr><td>2/1/51</td><td>4/1/51</td><td>1-1/2% Note - 4/1/56-EA</td><td>5 yr</td><td>............</td><td>-</td><td>1,007 3/1</td><td>-</td><td>1,007 3/1</td><td>100</td></tr><tr><td>6/4/51</td><td>6/15/51</td><td>1-7/8% Certificate - 4/1/52-A</td><td>11 1/2 m</td><td>............</td><td>-</td><td>9,524</td><td>-</td><td>9,524</td><td>100</td></tr><tr><td>7/16/51</td><td>8/1/51</td><td>1-7/8% Certificate - 7/1/52-B</td><td>11 m</td><td>............</td><td>-</td><td>5,216</td><td>-</td><td>5,216</td><td>100</td></tr><tr><td>9/4/51</td><td>9/15/51</td><td>1-7/8% Certificate - 8/15/52-C</td><td>11 m</td><td>............</td><td>-</td><td>583</td><td>-</td><td>583</td><td>100</td></tr><tr><td>9/18/51</td><td>10/1/51</td><td>1-7/8% Certificate - 9/1/52-D</td><td>11 m</td><td>............</td><td>-</td><td>1,832</td><td>-</td><td>1,832</td><td>100</td></tr><tr><td>10/1/51</td><td>10/15/51</td><td>1-7/8% Certificate - 10/1/52-E</td><td>11 1/2 m</td><td>............</td><td>-</td><td>10,861</td><td>-</td><td>10,861</td><td>100</td></tr><tr><td>12/3/51</td><td>12/15/51</td><td>1-1/2% Note - 10/1/56-E0</td><td>5 yr</td><td>11 1/2 m</td><td>............</td><td>550 3/1</td><td>-</td><td>550 3/1</td><td>100</td></tr><tr><td>12/3/51</td><td>12/15/51</td><td>1-7/8% Certificate - 12/1/52-F</td><td>............</td><td>11 1/2 m</td><td>............</td><td>1,063</td><td>-</td><td>1,063</td><td>100</td></tr><tr><td>2/18/52</td><td>3/1/52</td><td>2-3/8% Bond - 3/15/57-59</td><td>7 yr</td><td>1 1/2 m</td><td>5 yr</td><td>1 1/2 m</td><td>-</td><td>927</td><td>100</td></tr><tr><td>2/18/52</td><td>3/1/52</td><td>1-7/8% Certificate - 2/15/53-A</td><td>1 yr</td><td>11 1/2 m</td><td>............</td><td>8,868</td><td>-</td><td>8,868</td><td>100</td></tr><tr><td>6/16/52</td><td>7/1/52</td><td>1-1/2% Note - 6/1/57-58A</td><td>5 yr</td><td>11 1/2 m</td><td>............</td><td>731 3/1</td><td>4,245</td><td>531 3/1</td><td>100</td></tr><tr><td>6/16/52</td><td>7/1/52</td><td>2-3/8% Bond - 6/1/53-B</td><td>5 yr</td><td>11 1/2 m</td><td>11,693</td><td>-</td><td>4,963</td><td>4,963</td><td>100</td></tr><tr><td>8/14/52</td><td>8/15/52</td><td>2% Certificate - 8/15/53-C 2/1</td><td>1 yr</td><td>2 m</td><td>............</td><td>2,008 5/1</td><td>-</td><td>2,008 5/1</td><td>100</td></tr><tr><td>9/15/52</td><td>10/1/52</td><td>2-1/8% Note - 12/1/53-A</td><td>1 yr</td><td>2 m</td><td>............</td><td>10,542</td><td>-</td><td>10,542</td><td>100</td></tr><tr><td>11/17/52</td><td>10/1/52</td><td>1-1/2% Note - 10/1/57-E0</td><td>5 yr</td><td>............</td><td>-</td><td>824 3/1</td><td>-</td><td>824 3/1</td><td>100</td></tr><tr><td>11/17/52</td><td>8/15/52</td><td>2% Certificate - 8/15/53-C 5/1</td><td>1 yr</td><td>............</td><td>-</td><td>873 5/1</td><td>-</td><td>873 5/1</td><td>100</td></tr><tr><td>2/2/53</td><td>2/15/53</td><td>2-1/4% Certificate - 2/15/54-A</td><td>1 yr</td><td>10 m</td><td>............</td><td>8,114 p</td><td>-</td><td>8,114 p</td><td>100 6/1</td></tr><tr><td>2/2/53</td><td>2/15/53</td><td>2-1/2% Bond - 12/15/58</td><td>5 yr</td><td>10 m</td><td>............</td><td>460 p</td><td>-</td><td>460 p</td><td>100</td></tr><tr><td>4/13/53</td><td>4/1/53</td><td>1-1/2% Note - 4/1/58-EA</td><td>5 yr</td><td>1 1/2 m</td><td>............</td><td>26 3/1</td><td>-</td><td>26 3/1</td><td>100</td></tr><tr><td>4/13/53</td><td>5/1/53</td><td>3-1/4% Bond - 6/15/78-83</td><td>30 yr</td><td>1 1/2 m</td><td>25 yr</td><td>1 1/2 m</td><td>5,450</td><td>4,199 1/1</td><td>1,188 p</td><td>8/1</td></tr></table>
Source: Bureau of the Public Debt.
1/ Consists of all public cash subscriptions and subscriptions by U. S. Government investment accounts.
2/ Exchange offering available to owners of nonmarketable 2-3 1/4% Treasury Bonds, Investment Series B-1975-80, dated April 1, 1951. For further information relating to the original offering see "Treasury Bulletin" for April 1951, page A-1.
3/ Amounts shown are as of April 30, 1953. They include exchanges by Federal Reserve System Open Market Account amounting to $1,000 million in the case of Series EA-1956, $500 million each in the case of Series EO-1956 and Series EA-1957, and $714 million in the case of Series EO-1957.
4/ Nonbank subscriptions were allotted in full. Commercial banks' subscriptions for amounts up to and including $100,000 for their own account also were allotted in full. Commercial banks' subscriptions for amounts over $100,000 for their own account were allotted $100,000 on each subscription.
5/ The 2½ certificates dated August 15, 1952, were reopened, with all
6/ Holders of the 1-7/8% certificates which matured February 15, 1953, were offered a choice of exchanging the securities for either the one-year certificate or the five-year, ten-month bond. 
7/ The bond offering was made available for exchange of F and G savings bonds maturing from May 1 through December 31, 1953. 
8/ Total allotments on cash subscriptions were limited to approximately $1,000,000,000. Nonbank subscriptions in amounts up to and including $5,000 were allotted in full. All other subscriptions were allotted 20%. Commercial banks' subscriptions were restricted to an amount not exceeding 5% of their time deposits as of December 31, 1952. The Treasury also reserved the right to allot limited amounts of these bonds to Government investment accounts, which subscribed to a total amount of $117,779,000. 
p Preliminary.
26
Treasury Bulletin
DEBT OPERATIONS
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date of refunding or retirement</th><th colspan="3">Called or maturing security 1/</th><th colspan="3">Disposition offers by Treasury</th><th>Results of exchange offers</th><th>Turned in for cash 2/</th><th>Description of new security offered</th></tr><tr><th></th><th>Description</th><th>Issue date</th><th>Amount outstanding</th><th>Cash retirement</th><th>Exchange security offered</th><th>Exchanged</th><th></th><th></th><th></th></tr><tr><td colspan="10">(In millions of dollars)</td></tr><tr><td>1/1/50</td><td>1-1/4% Certificate - 1/1/50-A</td><td>1/1/49</td><td>5,695</td><td>-</td><td>5,695</td><td>5,373</td><td>322</td><td>1-1/8% Certificate - 1/1/51-A</td></tr><tr><td>2/1/50</td><td>1-1/4% Certificate - 2/1/50-B</td><td>2/1/49</td><td>1,993</td><td>-</td><td>1,993</td><td>1,918</td><td>75</td><td>1-1/4% Note - 10/1/51-A</td></tr><tr><td>3/1/50</td><td>1-1/4% Certificate - 3/1/50-C</td><td>3/1/49</td><td>2,922</td><td>-</td><td>2,922</td><td>2,741</td><td>130</td><td>1-1/4% Note - 7/1/51-B</td></tr><tr><td>3/15/50</td><td>2% Bond - 3/15/50</td><td>10/19/42</td><td>1,963</td><td>-</td><td>1,963</td><td>1,361</td><td>102</td><td>1-1/2% Note - 3/15/55-A</td></tr><tr><td>4/1/50</td><td>1-3/8% Note - 4/1/50-A</td><td>9/15/48</td><td>3,596</td><td>-</td><td>3,596</td><td>3,504</td><td>92</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>5,559</td><td>-</td><td>5,559</td><td>5,365</td><td>194</td><td></td></tr><tr><td>4/1/50</td><td>1-1/4% Certificate - 4/1/50-D</td><td>4/1/49</td><td>963</td><td>-</td><td>963</td><td>886</td><td>76</td><td>1-1/4% Note - 7/1/51-C</td></tr><tr><td>6/1/50</td><td>1-1/4% Certificate - 6/1/50-E</td><td>6/1/49</td><td>5,019</td><td>-</td><td>5,019</td><td>4,818</td><td>201</td><td>1-1/4% Note - 7/1/51-D</td></tr><tr><td>7/1/50</td><td>1-1/4% Certificate - 7/1/50-F</td><td>7/1/49</td><td>5,601</td><td>-</td><td>5,601</td><td>5,351</td><td>250</td><td>1-1/4% Note - 8/1/51-E</td></tr><tr><td>9/15/50</td><td>1-1/8% Certificate - 9/15/50-G</td><td>9/15/49</td><td>1,197</td><td>-</td><td>1,197</td><td>1,039</td><td>158</td><td>1-1/4% Note - 10/15/51-F</td></tr><tr><td></td><td>2-1/2% Bond - 9/15/50-32</td><td>9/15/38</td><td>1,186</td><td>-</td><td>1,186</td><td>905</td><td>281</td><td></td></tr><tr><td></td><td>2% Bond - 9/15/50-32</td><td>9/15/43</td><td>4,939</td><td>-</td><td>4,939</td><td>3,997</td><td>942</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>7,322</td><td>-</td><td>7,322</td><td>5,941</td><td>1,381</td><td></td></tr><tr><td>10/1/50</td><td>1-1/8% Certificate - 10/1/50-H</td><td>10/1/49</td><td>6,248</td><td>-</td><td>6,248</td><td>5,253</td><td>995</td><td>1-1/4% Note - 11/1/51-G</td></tr><tr><td>12/15/50</td><td>1-1/2% Bond - 12/15/50</td><td>6/1/45</td><td>2,635</td><td>-</td><td>2,635</td><td>2,315</td><td>320</td><td>1-3/4% Note - 12/15/55-B</td></tr><tr><td></td><td>1-1/8% Certificate - 1/1/51-A</td><td>1/1/50</td><td>5,373</td><td>-</td><td>5,373</td><td>4,538</td><td>834</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>8,008</td><td>-</td><td>8,008</td><td>6,854</td><td>1,154</td><td></td></tr><tr><td>4/1/31</td><td>2-1/2% Bond - 6/15/67-72</td><td>6/1/45</td><td>7,967</td><td>-</td><td>7,967</td><td>5,964</td><td>-</td><td>2-3/4% Treasury Bond, Investment Series B-1975-80 3/</td></tr><tr><td></td><td>2-1/2% Bond - 12/15/67-72</td><td>11/15/45</td><td>11,689</td><td>-</td><td>11,689</td><td>7,610</td><td>-</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>19,656</td><td>-</td><td>19,656</td><td>13,574</td><td>-</td><td></td></tr><tr><td>6/15/51</td><td>2-3/4% Bond - 6/15/51-54</td><td>6/15/36</td><td>1,627</td><td>-</td><td>1,627</td><td>1,516</td><td>110</td><td>1-7/8% Certificate - 4/1/52-A</td></tr><tr><td></td><td>1-1/4% Note - 7/1/51-B</td><td>3/1/50</td><td>2,741</td><td>-</td><td>2,741</td><td>2,607</td><td>134</td><td></td></tr><tr><td></td><td>1-1/4% Note - 7/1/51-C</td><td>4/1/50</td><td>386</td><td>-</td><td>386</td><td>831</td><td>55</td><td></td></tr><tr><td></td><td>1-1/4% Note - 7/1/51-D</td><td>6/1/50</td><td>4,818</td><td>-</td><td>4,818</td><td>4,570</td><td>248</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>10,072</td><td>-</td><td>10,072</td><td>9,524</td><td>548</td><td></td></tr><tr><td>8/1/51</td><td>1-1/4% Note - 8/1/51-B</td><td>7/1/50</td><td>5,351</td><td>-</td><td>5,351</td><td>5,216</td><td>135</td><td>1-7/8% Certificate - 7/1/52-B</td></tr><tr><td>9/15/51</td><td>3% Bond - 9/15/51-55</td><td>9/15/31</td><td>755</td><td>-</td><td>755</td><td>583</td><td>172</td><td>1-7/8% Certificate - 8/15/52-C</td></tr><tr><td>10/1/51</td><td>1-1/4% Note - 10/1/51-A</td><td>2/1/50</td><td>1,918</td><td>-</td><td>1,918</td><td>1,832</td><td>86</td><td>1-7/8% Certificate - 9/1/52-D</td></tr><tr><td>10/15/51</td><td>1-1/4% Note - 10/15/51-F</td><td>9/15/50</td><td>5,941</td><td>-</td><td>5,941</td><td>5,873</td><td>67</td><td>1-7/8% Certificate - 10/1/52-E</td></tr><tr><td></td><td>1-1/4% Note - 11/1/51-G</td><td>10/1/50</td><td>5,253</td><td>-</td><td>5,253</td><td>4,988</td><td>265</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>11,194</td><td>-</td><td>11,194</td><td>10,861</td><td>333</td><td></td></tr><tr><td>12/15/51</td><td>2-1/4% Bond - 12/15/51-53</td><td>12/22/39</td><td>1,118</td><td>-</td><td>1,118</td><td>1,063</td><td>55</td><td>1-7/8% Certificate - 12/1/52-F</td></tr><tr><td>3/1/52</td><td>2-1/2% Bond - 3/15/52-34</td><td>3/31/41</td><td>1,024</td><td>-</td><td>1,024</td><td>927</td><td>97</td><td>2-3/8% Bond - 3/15/57-59</td></tr><tr><td>3/1/52</td><td>1-7/8% Certificate - 4/1/52-A</td><td>6/15/51</td><td>9,524</td><td>-</td><td>9,524</td><td>8,868</td><td>656</td><td>1-7/8% Certificate - 2/15/53-A</td></tr><tr><td>6/1/52</td><td>2-1/2% Bond - 3/15/65-70</td><td>2/1/44</td><td>5,195</td><td>-</td><td>5,195</td><td>467</td><td>-</td><td>2-3/4% Treasury Bond, Investment Series B-1975-80 3/</td></tr><tr><td></td><td>2-1/2% Bond - 3/15/66-71</td><td>12/1/44</td><td>3,480</td><td>-</td><td>3,480</td><td>312</td><td>-</td><td></td></tr><tr><td></td><td>2-1/2% Bond - 6/15/67-72</td><td>6/1/45</td><td>1,999</td><td>-</td><td>1,999</td><td>100</td><td>-</td><td></td></tr><tr><td></td><td>2-1/2% Bond - 12/15/67-72</td><td>11/15/45</td><td>4,072</td><td>-</td><td>4,072</td><td>227</td><td>-</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>14,746</td><td>-</td><td>14,746</td><td>1,306</td><td>-</td><td></td></tr><tr><td>7/1/52</td><td>1-7/8% Certificate - 7/1/52-B</td><td>8/1/51</td><td>5,216</td><td>-</td><td>5,216</td><td>4,963</td><td>253</td><td>1-7/8% Certificate - 6/1/53-B</td></tr><tr><td>8/15/52</td><td>1-7/8% Certificate - 8/15/52-0</td><td>9/15/51</td><td>583</td><td>-</td><td>583</td><td>434</td><td>150</td><td>2% Certificate - 8/15/53-CH</td></tr><tr><td></td><td>1-7/8% Certificate - 9/1/52-D</td><td>10/1/51</td><td>1,832</td><td>-</td><td>1,832</td><td>1,575</td><td>258</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>2,416</td><td>-</td><td>2,416</td><td>2,008</td><td>407</td><td></td></tr><tr><td>10/1/52</td><td>1-7/8% Certificate - 10/1/52-E</td><td>10/15/51</td><td>10,861</td><td>-</td><td>10,861</td><td>10,942</td><td>319</td><td>2-1/8% Note - 12/1/53-A</td></tr><tr><td>12/1/52</td><td>1-7/8% Certificate - 12/1/52-F</td><td>12/15/51</td><td>1,063</td><td>-</td><td>1,063</td><td>873</td><td>190</td><td>2% Certificate - 8/15/53-CH</td></tr><tr><td>2/15/53</td><td>1-7/8% Certificate - 2/15/53-A</td><td>3/1/52</td><td>8,868</td><td>-</td><td>8,868</td><td>8,734 p</td><td>134 p</td><td>2-1/4% Certificate - 2/15/54-A</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2-1/2% Bond - 12/15/58</td></tr></table>
Source: Bureau of the Public Debt.
1/ Original call and maturity dates are used.
2/ All by investors other than Federal Reserve Banks.
3/ These nonmarketable bonds, dated April 1, 1951, and maturing April 1, 1980, are exchangeable for 1-1/2% marketable Treasury notes; see Table 3, footnotes 2. In the reopening, the Investment Series
bands were offered for cash subscriptions as well as exchange, and not less than one quarter of each subscription had to be paid for in cash.
k/ The 2% certificatee maturing August 15, 1953, was reponeded for the December 1 refunding (see Table 3).
p Preliminary.
May 1953
27
UNITED STATES SAVINGS BONDS
United States savings bonds were first offered in March 1935 and began to mature in March 1945. Series A-D were sold between March 1935 and the end of April 1941, and Series E, F, and G were first offered in May 1941. When Series E began to mature on May 1, 1951, owners of the matured bonds were offered three options: to redeem the bonds in cash in accordance with the original terms; to retain them with an extended maturity of 10 years at specified rates of interest accrual; or to exchange them for Series G bonds. A number of changes became effective May 1, 1952. The principal ones were: The rate of interest accrual on Series E was increased, especially for the near term, with corresponding changes in extended Series E; and Series F and G were replaced by two new issues, Series J
and K, also at higher interest rates. A new current-income bond, Series R, similar in interest return to Series E, was offered beginning June1. For details of these changes see "Treasury Bulletin" for May 1952, page A-1.
In the tables which follow, Series A-F and J sales are shown at issue price and total redemptions and amounts outstanding at current redemption values. Series G, H, and K are shown at face value throughout. Matured bonds which have been redeemed are included in redemptions. Data by denominations and sales by States are published on a monthly basis but not in each issue of the "Treasury Bulletin".
Table 1.- Sales and Redemptions by Series, Cumulative through March 31, 1953
(Dollars amounts in millions)
<table><tr><th>Series</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Redemptions</th><th colspan="2">Amount outstanding</th><th>Redemptions of interest-bearing series as percent of sales plus accrued discount</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Matured debt (Series A-D)</th><th>Interest-bearing debt</th><th></th></tr><tr><td>Total A-D (matured) 1/</td><td>3,949</td><td>1,054</td><td>5,003</td><td>4,905</td><td>98</td><td>-</td><td>-</td></tr><tr><td>Interest-bearing:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series E and H</td><td>68,295</td><td>6,643</td><td>74,938</td><td>39,153 2/</td><td>-</td><td>35,784</td><td>52.25</td></tr><tr><td>Series F, G, J, and K</td><td>28,914 2/</td><td>592</td><td>29,506</td><td>6,920</td><td>-</td><td>22,587</td><td>23.45</td></tr><tr><td>Total interest-bearing</td><td>97,209</td><td>7,235</td><td>104,444</td><td>46,073</td><td>-</td><td>58,371</td><td>44.11</td></tr><tr><td>Total A-K</td><td>101,158</td><td>8,289</td><td>109,447</td><td>50,979</td><td>98</td><td>58,371</td><td>-</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 4.
Table 2.- Sales and Redemptions by Periods, All Series Combined
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Sales prices</th><th>Accrued discount</th><th>Natured debt (Series A-D)</th><th>Interest-bearing debt</th></tr><tr><td colspan="9">Fiscal years:</td></tr><tr><td>1935-1944</td><td>37,893</td><td>599</td><td>38,492</td><td>3,886</td><td>3,847</td><td>39</td><td>-</td><td>34,606</td></tr><tr><td>1945</td><td>14,891</td><td>387</td><td>15,278</td><td>4,298</td><td>4,252</td><td>47</td><td>-</td><td>45,586</td></tr><tr><td>1946</td><td>9,612</td><td>573</td><td>10,184</td><td>6,717</td><td>6,579</td><td>138</td><td>18</td><td>49,035</td></tr><tr><td>1947</td><td>7,208</td><td>691</td><td>7,899</td><td>5,545</td><td>5,324</td><td>221</td><td>40</td><td>51,367</td></tr><tr><td>1948</td><td>6,235</td><td>804</td><td>7,039</td><td>5,113</td><td>4,845</td><td>268</td><td>59</td><td>53,274</td></tr><tr><td>1949</td><td>7,141</td><td>927</td><td>8,068</td><td>5,067</td><td>4,721</td><td>346</td><td>73</td><td>56,260</td></tr><tr><td>1950</td><td>5,673</td><td>1,045</td><td>6,718</td><td>5,422</td><td>4,945</td><td>477</td><td>92</td><td>57,536</td></tr><tr><td>1951</td><td>5,143</td><td>1,149</td><td>6,292</td><td>6,137</td><td>5,609</td><td>528</td><td>212</td><td>57,572</td></tr><tr><td>1952</td><td>3,925</td><td>1,207</td><td>5,132</td><td>5,109</td><td>4,640</td><td>469</td><td>122</td><td>57,685</td></tr><tr><td colspan="9">Calendar years:</td></tr><tr><td>1935-1944</td><td>45,416</td><td>767</td><td>46,183</td><td>5,822</td><td>5,771</td><td>51</td><td>-</td><td>40,361</td></tr><tr><td>1945</td><td>12,937</td><td>684</td><td>13,421</td><td>5,558</td><td>5,472</td><td>86</td><td>41</td><td>48,183</td></tr><tr><td>1946</td><td>7,427</td><td>640</td><td>8,067</td><td>6,427</td><td>6,243</td><td>185</td><td>87</td><td>49,776</td></tr><tr><td>1947</td><td>6,694</td><td>742</td><td>7,436</td><td>5,126</td><td>4,889</td><td>237</td><td>122</td><td>52,053</td></tr><tr><td>1948</td><td>7,295</td><td>872</td><td>8,167</td><td>5,144</td><td>4,840</td><td>303</td><td>146</td><td>55,051</td></tr><tr><td>1949</td><td>5,833</td><td>981</td><td>6,815</td><td>5,101</td><td>4,708</td><td>394</td><td>203</td><td>56,707</td></tr><tr><td>1950</td><td>6,074</td><td>1,104</td><td>7,178</td><td>5,840</td><td>5,323</td><td>517</td><td>229</td><td>58,019</td></tr><tr><td>1951</td><td>3,961</td><td>1,181</td><td>5,142</td><td>5,651</td><td>5,150</td><td>501</td><td>152</td><td>57,587</td></tr><tr><td>1952</td><td>4,161</td><td>1,220</td><td>5,381</td><td>5,074</td><td>4,565</td><td>509</td><td>106</td><td>57,940</td></tr><tr><td colspan="9">Months:</td></tr><tr><td>1952-July</td><td>367</td><td>121</td><td>488</td><td>468</td><td>421</td><td>46</td><td>118</td><td>57,709</td></tr><tr><td>August</td><td>356</td><td>84</td><td>440</td><td>399</td><td>357</td><td>42</td><td>115</td><td>57,753</td></tr><tr><td>September</td><td>330</td><td>89</td><td>419</td><td>417</td><td>376</td><td>41</td><td>112</td><td>57,758</td></tr><tr><td>October</td><td>348</td><td>83</td><td>431</td><td>398</td><td>355</td><td>43</td><td>109</td><td>57,794</td></tr><tr><td>November</td><td>303</td><td>98</td><td>401</td><td>346</td><td>311</td><td>35</td><td>107</td><td>57,850</td></tr><tr><td>December</td><td>375</td><td>134</td><td>510</td><td>422</td><td>381</td><td>41</td><td>106</td><td>57,940</td></tr><tr><td>1953-January</td><td>504</td><td>122</td><td>627</td><td>435</td><td>392</td><td>43</td><td>103</td><td>58,134</td></tr><tr><td>February</td><td>414</td><td>86</td><td>500</td><td>369</td><td>321</td><td>48</td><td>100</td><td>58,268</td></tr><tr><td>March</td><td>440</td><td>91</td><td>531</td><td>430</td><td>382</td><td>48</td><td>98</td><td>58,371</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 4.
28
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K
(Dollar amounts in millions)
<table><tr><th>Period</th><th>Salee</th><th>Accrued discount</th><th>Salee plus accrued discount</th><th colspan="3">Redemptions 3/</th><th>Amount outstanding (interest-bearing debt)</th><th>Monthly redemptions as percent of amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales price</th><th>Accrued discount</th><th></th><th></th></tr><tr><td colspan="9">Series E and H combined</td></tr><tr><th>Fiscal years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941-1943</td><td>12,001</td><td>35</td><td>12,035</td><td>749</td><td>748</td><td>1</td><td>11,287</td><td>-</td></tr><tr><td>1944</td><td>11,820</td><td>118</td><td>11,938</td><td>2,100</td><td>2,095</td><td>5</td><td>21,125</td><td>-</td></tr><tr><td>1945</td><td>11,553</td><td>265</td><td>11,818</td><td>3,846</td><td>3,825</td><td>20</td><td>29,097</td><td>-</td></tr><tr><td>1946</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,843</td><td>69</td><td>30,358</td><td>-</td></tr><tr><td>1947</td><td>7,287</td><td>536</td><td>7,824</td><td>4,391</td><td>4,288</td><td>103</td><td>30,791</td><td>-</td></tr><tr><td>1948</td><td>4,026</td><td>633</td><td>4,659</td><td>3,825</td><td>3,689</td><td>136</td><td>31,625</td><td>-</td></tr><tr><td>1949</td><td>4,278</td><td>753</td><td>5,032</td><td>3,530</td><td>3,368</td><td>162</td><td>33,127</td><td>-</td></tr><tr><td>1950</td><td>3,993</td><td>895</td><td>4,887</td><td>3,521</td><td>3,326</td><td>195</td><td>34,494</td><td>-</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,506</td><td>-</td></tr><tr><td>1952</td><td>3,296</td><td>1,111</td><td>4,407</td><td>4,008</td><td>3,583</td><td>425</td><td>34,905</td><td>-</td></tr><tr><th>Calendar years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941-1943</td><td>17,478</td><td>80</td><td>17,558</td><td>1,601</td><td>1,598</td><td>2</td><td>15,957</td><td>-</td></tr><tr><td>1944</td><td>12,380</td><td>182</td><td>12,562</td><td>3,005</td><td>2,993</td><td>11</td><td>25,515</td><td>-</td></tr><tr><td>1945</td><td>9,822</td><td>353</td><td>10,175</td><td>4,963</td><td>4,925</td><td>38</td><td>30,727</td><td>-</td></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,959</td><td>5,423</td><td>5,330</td><td>93</td><td>30,263</td><td>-</td></tr><tr><td>1947</td><td>4,085</td><td>579</td><td>4,664</td><td>3,930</td><td>3,813</td><td>116</td><td>30,997</td><td>-</td></tr><tr><td>1948</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,575</td><td>154</td><td>32,188</td><td>-</td></tr><tr><td>1949</td><td>4,208</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>174</td><td>33,766</td><td>-</td></tr><tr><td>1950</td><td>3,668</td><td>971</td><td>4,639</td><td>3,912</td><td>3,667</td><td>245</td><td>34,493</td><td>-</td></tr><tr><td>1951</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688</td><td>348</td><td>34,727</td><td>-</td></tr><tr><td>1952</td><td>3,575</td><td>1,120</td><td>4,694</td><td>4,098</td><td>3,622</td><td>476</td><td>35,324</td><td>-</td></tr><tr><th>Months:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1952-July</td><td>316</td><td>107</td><td>422</td><td>377</td><td>334</td><td>44</td><td>34,950</td><td>1.08</td></tr><tr><td>August</td><td>309</td><td>78</td><td>387</td><td>319</td><td>279</td><td>40</td><td>35,019</td><td>.91</td></tr><tr><td>September</td><td>290</td><td>83</td><td>373</td><td>337</td><td>299</td><td>38</td><td>35,055</td><td>.96</td></tr><tr><td>October</td><td>310</td><td>76</td><td>386</td><td>325</td><td>284</td><td>41</td><td>35,116</td><td>.93</td></tr><tr><td>November</td><td>271</td><td>91</td><td>362</td><td>272</td><td>239</td><td>33</td><td>35,206</td><td>.77</td></tr><tr><td>December</td><td>334</td><td>123</td><td>456</td><td>338</td><td>299</td><td>39</td><td>35,324</td><td>.96</td></tr><tr><td>1953-January</td><td>441</td><td>108</td><td>548</td><td>361</td><td>320 p</td><td>41 p</td><td>35,511</td><td>1.02</td></tr><tr><td>February</td><td>362</td><td>80</td><td>442</td><td>296</td><td>251 p</td><td>45 p</td><td>35,657</td><td>.83</td></tr><tr><td>March</td><td>397</td><td>84</td><td>481</td><td>354</td><td>308 p</td><td>46 p</td><td>35,784</td><td>.99</td></tr></table>
<table><tr><th colspan="8">Series F, G, J, and K combined</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>6,446</td><td>3</td><td>6,448</td><td>87</td><td>87</td><td>*</td><td>6,362</td><td>-</td></tr><tr><td>1944</td><td>3,678</td><td>9</td><td>3,687</td><td>192</td><td>191</td><td>*</td><td>9,857</td><td>-</td></tr><tr><td>1945</td><td>3,337</td><td>19</td><td>3,356</td><td>310</td><td>309</td><td>1</td><td>12,903</td><td>-</td></tr><tr><td>1946</td><td>2,873</td><td>33</td><td>2,905</td><td>497</td><td>494</td><td>3</td><td>15,312</td><td>-</td></tr><tr><td>1947</td><td>2,920</td><td>47</td><td>2,968</td><td>672</td><td>666</td><td>6</td><td>17,608</td><td>-</td></tr><tr><td>1948</td><td>2,209</td><td>61</td><td>2,270</td><td>772</td><td>764</td><td>9</td><td>19,105</td><td>-</td></tr><tr><td>1949</td><td>2,863</td><td>73</td><td>2,935</td><td>835</td><td>823</td><td>12</td><td>21,205</td><td>-</td></tr><tr><td>1950</td><td>1,680</td><td>83</td><td>1,763</td><td>821</td><td>807</td><td>14</td><td>22,147</td><td>-</td></tr><tr><td>1951</td><td>1,871</td><td>90</td><td>1,961</td><td>1,042</td><td>1,021</td><td>21</td><td>23,066</td><td>-</td></tr><tr><td>1952</td><td>629</td><td>96</td><td>726</td><td>1,012</td><td>990</td><td>21</td><td>22,780</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>7,946</td><td>6</td><td>7,952</td><td>163</td><td>162</td><td>*</td><td>7,789</td><td>-</td></tr><tr><td>1944</td><td>3,604</td><td>13</td><td>3,678</td><td>259</td><td>258</td><td>1</td><td>11,208</td><td>-</td></tr><tr><td>1945</td><td>3,115</td><td>25</td><td>3,140</td><td>370</td><td>368</td><td>1</td><td>13,979</td><td>-</td></tr><tr><td>1946</td><td>2,962</td><td>40</td><td>3,002</td><td>615</td><td>611</td><td>4</td><td>16,366</td><td>-</td></tr><tr><td>1947</td><td>2,609</td><td>54</td><td>2,663</td><td>715</td><td>708</td><td>7</td><td>18,314</td><td>-</td></tr><tr><td>1948</td><td>3,071</td><td>67</td><td>3,139</td><td>840</td><td>829</td><td>11</td><td>20,513</td><td>-</td></tr><tr><td>1949</td><td>1,626</td><td>78</td><td>1,704</td><td>815</td><td>803</td><td>12</td><td>21,501</td><td>-</td></tr><tr><td>1950</td><td>2,406</td><td>87</td><td>2,493</td><td>905</td><td>888</td><td>17</td><td>23,089</td><td>-</td></tr><tr><td>1951</td><td>770</td><td>93</td><td>863</td><td>1,093</td><td>1,071</td><td>22</td><td>22,859</td><td>-</td></tr><tr><td>1952</td><td>586</td><td>100</td><td>686</td><td>929</td><td>908</td><td>21</td><td>22,616</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>52</td><td>14</td><td>66</td><td>87</td><td>85</td><td>2</td><td>22,759</td><td>.38</td></tr><tr><td>August</td><td>47</td><td>6</td><td>53</td><td>77</td><td>75</td><td>2</td><td>22,734</td><td>.34</td></tr><tr><td>September</td><td>39</td><td>6</td><td>46</td><td>76</td><td>75</td><td>2</td><td>22,704</td><td>.34</td></tr><tr><td>October</td><td>38</td><td>7</td><td>45</td><td>70</td><td>69</td><td>2</td><td>22,678</td><td>.31</td></tr><tr><td>November</td><td>32</td><td>7</td><td>39</td><td>72</td><td>70</td><td>2</td><td>22,645</td><td>.32</td></tr><tr><td>December</td><td>42</td><td>12</td><td>53</td><td>82</td><td>80</td><td>2</td><td>22,616</td><td>.36</td></tr><tr><td>1953-January</td><td>64</td><td>15</td><td>78</td><td>72</td><td>70 p</td><td>2 p</td><td>22,623</td><td>.32</td></tr><tr><td>February</td><td>52</td><td>6</td><td>58</td><td>70</td><td>68 p</td><td>2 p</td><td>22,611</td><td>.31</td></tr><tr><td>March</td><td>43</td><td>7</td><td>50</td><td>74</td><td>72 p</td><td>2 p</td><td>22,587</td><td>.33</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
May 1955
29
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued)
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Salee plus accrued discount</th><th colspan="3">Redemptions 2/ 3/</th><th>Amount out- standing (interest- bearing debt)</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales price</th><th>Accrued discount</th><th></th></tr><tr><td colspan="8">Series I</td></tr><tr><td colspan="8">Fiscal years:</td></tr><tr><td>1941 and 1942</td><td>3,729</td><td>1</td><td>3,731</td><td>60</td><td>60</td><td>*</td><td>3,671</td></tr><tr><td>1943</td><td>8,271</td><td>33</td><td>8,304</td><td>689</td><td>688</td><td>1</td><td>11,287</td></tr><tr><td>1944</td><td>11,800</td><td>118</td><td>11,938</td><td>2,100</td><td>2,095</td><td>5</td><td>21,125</td></tr><tr><td>1945</td><td>11,553</td><td>265</td><td>11,818</td><td>3,846</td><td>3,825</td><td>20</td><td>29,097</td></tr><tr><td>1946</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,043</td><td>69</td><td>30,358</td></tr><tr><td>1947</td><td>4,287</td><td>536</td><td>4,824</td><td>4,391</td><td>4,288</td><td>123</td><td>30,791</td></tr><tr><td>1948</td><td>4,026</td><td>633</td><td>4,659</td><td>3,825</td><td>3,669</td><td>136</td><td>31,625</td></tr><tr><td>1949</td><td>4,278</td><td>753</td><td>5,032</td><td>3,530</td><td>3,368</td><td>162</td><td>33,127</td></tr><tr><td>1950</td><td>3,993</td><td>895</td><td>4,887</td><td>3,521</td><td>3,326</td><td>195</td><td>34,494</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,506</td></tr><tr><td>1952</td><td>3,266</td><td>1,111</td><td>4,377</td><td>4,008</td><td>3,583</td><td>425</td><td>34,875</td></tr><tr><td colspan="8">Calendar years:</td></tr><tr><td>1941 and 1942</td><td>7,134</td><td>10</td><td>7,144</td><td>220</td><td>220</td><td>*</td><td>6,923</td></tr><tr><td>1943</td><td>10,344</td><td>70</td><td>10,414</td><td>1,380</td><td>1,378</td><td>2</td><td>15,957</td></tr><tr><td>1944</td><td>12,380</td><td>182</td><td>12,562</td><td>3,005</td><td>2,993</td><td>11</td><td>25,515</td></tr><tr><td>1945</td><td>9,822</td><td>353</td><td>10,175</td><td>4,963</td><td>4,925</td><td>38</td><td>30,727</td></tr><tr><td>1946</td><td>4,166</td><td>493</td><td>4,659</td><td>5,423</td><td>5,330</td><td>93</td><td>30,263</td></tr><tr><td>1947</td><td>4,085</td><td>579</td><td>4,664</td><td>3,930</td><td>3,813</td><td>116</td><td>30,997</td></tr><tr><td>1948</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,575</td><td>154</td><td>32,188</td></tr><tr><td>1949</td><td>4,208</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>174</td><td>33,766</td></tr><tr><td>1950</td><td>3,668</td><td>971</td><td>4,639</td><td>3,912</td><td>3,667</td><td>245</td><td>34,493</td></tr><tr><td>1951</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688</td><td>348</td><td>34,727</td></tr><tr><td>1952</td><td>3,393</td><td>1,120</td><td>4,513</td><td>4,098</td><td>3,622</td><td>476</td><td>35,143</td></tr><tr><td colspan="8">Months:</td></tr><tr><td>1952-July</td><td>280</td><td>107</td><td>386</td><td>377</td><td>334</td><td>44</td><td>34,884</td></tr><tr><td>August</td><td>282</td><td>78</td><td>360</td><td>319</td><td>279</td><td>40</td><td>34,926</td></tr><tr><td>September</td><td>267</td><td>83</td><td>350</td><td>337</td><td>299</td><td>38</td><td>34,939</td></tr><tr><td>October</td><td>286</td><td>76</td><td>363</td><td>325</td><td>284</td><td>41</td><td>34,976</td></tr><tr><td>November</td><td>253</td><td>91</td><td>344</td><td>272</td><td>239</td><td>33</td><td>35,048</td></tr><tr><td>December</td><td>310</td><td>123</td><td>433</td><td>338</td><td>299</td><td>39</td><td>35,143</td></tr><tr><td>1953-January</td><td>397</td><td>108</td><td>505</td><td>361</td><td>319 p</td><td>41 p</td><td>35,287</td></tr><tr><td>February</td><td>329</td><td>80</td><td>408</td><td>295</td><td>251 p</td><td>45 p</td><td>35,400</td></tr><tr><td>March</td><td>359</td><td>84</td><td>443</td><td>352</td><td>307 p</td><td>46 p</td><td>35,491</td></tr><tr><td colspan="8">Series H 1/</td></tr><tr><td>Fiscal year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>30</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>30</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>182</td><td>-</td><td>182</td><td>*</td><td>*</td><td>-</td><td>181</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>36</td><td>-</td><td>36</td><td>-</td><td>-</td><td>-</td><td>66</td></tr><tr><td>August</td><td>27</td><td>-</td><td>27</td><td>*</td><td>*</td><td>-</td><td>93</td></tr><tr><td>September</td><td>23</td><td>-</td><td>23</td><td>*</td><td>*</td><td>-</td><td>115</td></tr><tr><td>October</td><td>24</td><td>-</td><td>24</td><td>*</td><td>*</td><td>-</td><td>139</td></tr><tr><td>November</td><td>18</td><td>-</td><td>18</td><td>*</td><td>*</td><td>-</td><td>158</td></tr><tr><td>December</td><td>24</td><td>-</td><td>24</td><td>*</td><td>*</td><td>-</td><td>181</td></tr><tr><td>1953-January</td><td>43</td><td>-</td><td>43</td><td>*</td><td>*</td><td>-</td><td>224</td></tr><tr><td>February</td><td>34</td><td>-</td><td>34</td><td>1</td><td>1</td><td>-</td><td>257</td></tr><tr><td>March</td><td>37</td><td>-</td><td>37</td><td>1</td><td>1</td><td>-</td><td>294</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
30
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued)
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th colspan="3">Redemptions</th><th>Amount outstanding (interest-bearing debt)</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Salee price</th><th>Accrued discount</th><th></th></tr><tr><td colspan="8">Fiscal years:</td></tr><tr><td>1941 and 1942</td><td>502</td><td>*</td><td>502</td><td>3</td><td>3</td><td>*</td><td>499</td></tr><tr><td>1943</td><td>758</td><td>2</td><td>760</td><td>17</td><td>17</td><td>*</td><td>1,242</td></tr><tr><td>1944</td><td>802</td><td>9</td><td>811</td><td>58</td><td>27</td><td>*</td><td>1,996</td></tr><tr><td>1945</td><td>679</td><td>19</td><td>698</td><td>89</td><td>88</td><td>1</td><td>2,604</td></tr><tr><td>1946</td><td>407</td><td>33</td><td>440</td><td>149</td><td>147</td><td>3</td><td>2,895</td></tr><tr><td>1947</td><td>360</td><td>47</td><td>407</td><td>203</td><td>197</td><td>6</td><td>3,099</td></tr><tr><td>1948</td><td>301</td><td>61</td><td>362</td><td>206</td><td>198</td><td>9</td><td>3,255</td></tr><tr><td>1949</td><td>473</td><td>73</td><td>545</td><td>216</td><td>204</td><td>12</td><td>3,584</td></tr><tr><td>1950</td><td>231</td><td>83</td><td>314</td><td>199</td><td>185</td><td>14</td><td>3,699</td></tr><tr><td>1951</td><td>347</td><td>90</td><td>437</td><td>248</td><td>227</td><td>21</td><td>3,889</td></tr><tr><td>1952</td><td>97</td><td>96</td><td>193</td><td>229</td><td>207</td><td>21</td><td>3,853</td></tr><tr><td colspan="8">Calendar years:</td></tr><tr><td>1941 and 1942</td><td>860</td><td>2</td><td>861</td><td>7</td><td>7</td><td>*</td><td>854</td></tr><tr><td>1943</td><td>745</td><td>4</td><td>750</td><td>35</td><td>35</td><td>*</td><td>1,569</td></tr><tr><td>1944</td><td>773</td><td>13</td><td>786</td><td>71</td><td>77</td><td>1</td><td>2,278</td></tr><tr><td>1945</td><td>595</td><td>25</td><td>621</td><td>106</td><td>104</td><td>1</td><td>2,793</td></tr><tr><td>1946</td><td>325</td><td>40</td><td>365</td><td>189</td><td>185</td><td>4</td><td>2,969</td></tr><tr><td>1947</td><td>342</td><td>54</td><td>396</td><td>203</td><td>196</td><td>7</td><td>3,162</td></tr><tr><td>1948</td><td>498</td><td>67</td><td>566</td><td>222</td><td>211</td><td>11</td><td>3,505</td></tr><tr><td>1949</td><td>233</td><td>78</td><td>311</td><td>202</td><td>189</td><td>12</td><td>3,615</td></tr><tr><td>1950</td><td>417</td><td>87</td><td>503</td><td>223</td><td>206</td><td>17</td><td>3,895</td></tr><tr><td>1951</td><td>124</td><td>93</td><td>217</td><td>259</td><td>237</td><td>22</td><td>3,853</td></tr><tr><td>1952</td><td>46</td><td>100</td><td>146</td><td>190</td><td>169</td><td>21</td><td>3,809</td></tr><tr><td colspan="8">Months:</td></tr><tr><td>1952-July</td><td>*</td><td>14</td><td>14</td><td>18</td><td>16</td><td>2</td><td>3,889</td></tr><tr><td>August</td><td>*</td><td>6</td><td>6</td><td>17</td><td>15</td><td>2</td><td>3,838</td></tr><tr><td>September</td><td>*</td><td>6</td><td>6</td><td>16</td><td>14</td><td>2</td><td>3,829</td></tr><tr><td>October</td><td>*</td><td>7</td><td>7</td><td>14</td><td>12</td><td>2</td><td>3,822</td></tr><tr><td>November</td><td>*</td><td>7</td><td>7</td><td>16</td><td>14</td><td>2</td><td>3,813</td></tr><tr><td>December</td><td>*</td><td>12</td><td>12</td><td>16</td><td>14</td><td>2</td><td>3,809</td></tr><tr><td>1953-January</td><td>*</td><td>15</td><td>15</td><td>14</td><td>12 p</td><td>2 p</td><td>3,810</td></tr><tr><td>February</td><td>*</td><td>6</td><td>6</td><td>14</td><td>11 p</td><td>2 p</td><td>3,802</td></tr><tr><td>March</td><td>*</td><td>7</td><td>7</td><td>14</td><td>12 p</td><td>2 p</td><td>3,795</td></tr></table>
Series J 6/
<table><tr><td>Fiscal year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>24</td><td>-</td><td>24</td><td>-</td><td>-</td><td>-</td><td>24</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>83</td><td>*</td><td>83</td><td>*</td><td>*</td><td>*</td><td>83</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>9</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>33</td></tr><tr><td>August</td><td>11</td><td>-</td><td>11</td><td>-</td><td>-</td><td>-</td><td>44</td></tr><tr><td>September</td><td>9</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>53</td></tr><tr><td>October</td><td>10</td><td>-</td><td>10</td><td>-</td><td>-</td><td>-</td><td>63</td></tr><tr><td>November</td><td>9</td><td>*</td><td>9</td><td>*</td><td>*</td><td>*</td><td>72</td></tr><tr><td>December</td><td>11</td><td>*</td><td>11</td><td>*</td><td>*</td><td>*</td><td>83</td></tr><tr><td>1953-January</td><td>16</td><td>*</td><td>16</td><td>*</td><td>*</td><td>*</td><td>98</td></tr><tr><td>February</td><td>13</td><td>*</td><td>14</td><td>*</td><td>*</td><td>*</td><td>111</td></tr><tr><td>March</td><td>11</td><td>*</td><td>12</td><td>*</td><td>*</td><td>*</td><td>123</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
May 1955
31
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued
(In millions of dollars)
<table><tr><th>Period</th><th>Sales 2/</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th colspan="3">Redemptions</th><th>Amount outstanding (interest-bearing debt)</th></tr><tr><th></th><th></th><th></th><th>Series G 5/</th><th>Total</th><th>Sales prices</th><th>Accrued discount</th><th></th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941 and 1942</td><td>2,427</td><td>-</td><td>2,427</td><td>12</td><td>12</td><td>-</td><td>2,414</td></tr><tr><td>1943</td><td>2,759</td><td>-</td><td>2,759</td><td>55</td><td>55</td><td>-</td><td>5,119</td></tr><tr><td>1944</td><td>2,876</td><td>-</td><td>2,876</td><td>134</td><td>134</td><td>-</td><td>7,861</td></tr><tr><td>1945</td><td>2,658</td><td>-</td><td>2,658</td><td>220</td><td>220</td><td>-</td><td>10,299</td></tr><tr><td>1946</td><td>2,465</td><td>-</td><td>2,465</td><td>348</td><td>348</td><td>-</td><td>12,416</td></tr><tr><td>1947</td><td>2,561</td><td>-</td><td>2,561</td><td>469</td><td>469</td><td>-</td><td>14,508</td></tr><tr><td>1948</td><td>1,907</td><td>-</td><td>1,907</td><td>566</td><td>566</td><td>-</td><td>15,850</td></tr><tr><td>1949</td><td>2,390</td><td>-</td><td>2,390</td><td>619</td><td>619</td><td>-</td><td>17,621</td></tr><tr><td>1950</td><td>1,449</td><td>-</td><td>1,449</td><td>621</td><td>621</td><td>-</td><td>18,448</td></tr><tr><td>1951</td><td>1,523</td><td>-</td><td>1,523</td><td>794</td><td>794</td><td>-</td><td>19,177</td></tr><tr><td>1952</td><td>422</td><td>-</td><td>422</td><td>783</td><td>783</td><td>-</td><td>18,816</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941 and 1942</td><td>3,701</td><td>-</td><td>3,701</td><td>31</td><td>31</td><td>-</td><td>3,669</td></tr><tr><td>1943</td><td>2,640</td><td>-</td><td>2,640</td><td>89</td><td>89</td><td>-</td><td>6,221</td></tr><tr><td>1944</td><td>2,891</td><td>-</td><td>2,891</td><td>181</td><td>181</td><td>-</td><td>8,931</td></tr><tr><td>1945</td><td>2,320</td><td>-</td><td>2,320</td><td>264</td><td>264</td><td>-</td><td>11,186</td></tr><tr><td>1946</td><td>2,637</td><td>-</td><td>2,637</td><td>426</td><td>426</td><td>-</td><td>13,397</td></tr><tr><td>1947</td><td>2,267</td><td>-</td><td>2,267</td><td>512</td><td>512</td><td>-</td><td>15,192</td></tr><tr><td>1948</td><td>2,573</td><td>-</td><td>2,573</td><td>618</td><td>618</td><td>-</td><td>17,108</td></tr><tr><td>1949</td><td>1,392</td><td>-</td><td>1,392</td><td>613</td><td>613</td><td>-</td><td>17,887</td></tr><tr><td>1950</td><td>1,990</td><td>-</td><td>1,990</td><td>682</td><td>682</td><td>-</td><td>19,194</td></tr><tr><td>1951</td><td>646</td><td>-</td><td>646</td><td>834</td><td>834</td><td>-</td><td>19,006</td></tr><tr><td>1952</td><td>181</td><td>-</td><td>181</td><td>739</td><td>739</td><td>-</td><td>18,448</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>*</td><td>-</td><td>*</td><td>69</td><td>69</td><td>-</td><td>18,748</td></tr><tr><td>August</td><td>*</td><td>-</td><td>*</td><td>60</td><td>60</td><td>-</td><td>18,687</td></tr><tr><td>September</td><td>*</td><td>-</td><td>*</td><td>61</td><td>61</td><td>-</td><td>18,627</td></tr><tr><td>October</td><td>*</td><td>-</td><td>*</td><td>57</td><td>57</td><td>-</td><td>18,570</td></tr><tr><td>November</td><td>-</td><td>-</td><td>-</td><td>56</td><td>56</td><td>-</td><td>18,514</td></tr><tr><td>December</td><td>-</td><td>-</td><td>-</td><td>66</td><td>66</td><td>-</td><td>18,448</td></tr><tr><td>1953-January</td><td>*</td><td>-</td><td>*</td><td>58</td><td>58</td><td>-</td><td>18,390</td></tr><tr><td>February</td><td>*</td><td>-</td><td>*</td><td>56</td><td>56</td><td>-</td><td>18,334</td></tr><tr><td>March</td><td>*</td><td>-</td><td>*</td><td>59</td><td>59</td><td>-</td><td>18,275</td></tr></table>
Series K 6/
<table><tr><td>Fiscal year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>86</td><td>-</td><td>86</td><td>-</td><td>-</td><td>-</td><td>86</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>277</td><td>-</td><td>277</td><td>*</td><td>*</td><td>-</td><td>277</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>43</td><td>-</td><td>43</td><td>-</td><td>-</td><td>-</td><td>128</td></tr><tr><td>August</td><td>37</td><td>-</td><td>37</td><td>*</td><td>*</td><td>-</td><td>165</td></tr><tr><td>September</td><td>30</td><td>-</td><td>30</td><td>*</td><td>*</td><td>-</td><td>195</td></tr><tr><td>October</td><td>28</td><td>-</td><td>28</td><td>*</td><td>*</td><td>-</td><td>223</td></tr><tr><td>November</td><td>23</td><td>-</td><td>23</td><td>*</td><td>*</td><td>-</td><td>246</td></tr><tr><td>December</td><td>31</td><td>-</td><td>31</td><td>*</td><td>*</td><td>-</td><td>277</td></tr><tr><td>1953-January</td><td>48</td><td>-</td><td>48</td><td>*</td><td>*</td><td>-</td><td>325</td></tr><tr><td>February</td><td>39</td><td>-</td><td>39</td><td>*</td><td>*</td><td>-</td><td>363</td></tr><tr><td>March</td><td>32</td><td>-</td><td>32</td><td>1</td><td>1</td><td>-</td><td>394</td></tr></table>
Sources: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 4.
32
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions of dollars)
<table><tr><th rowspan="2">Period 7/</th><th rowspan="2">Total</th><th colspan="5">Matured bonds 8/</th><th colspan="3">Unmatured bonds 9/</th></tr><tr><th>Total matured</th><th>Series A-D</th><th colspan="3">Series E</th><th>Total unmatured</th><th>Sales price</th><th>Accrued discount</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>For cash</th><th>In exchange for Series G or K</th><th></th><th></th><th></th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951</td><td>6,137</td><td>817</td><td>779</td><td>38</td><td>37</td><td>1</td><td>5,320</td><td>4,996</td><td>324</td></tr><tr><td>1952</td><td>9,109</td><td>792</td><td>90</td><td>702</td><td>694</td><td>9</td><td>4,317</td><td>4,046</td><td>271</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1950</td><td>5,840</td><td>987</td><td>987</td><td>-</td><td>-</td><td>-</td><td>4,853</td><td>4,583</td><td>270</td></tr><tr><td>1951</td><td>5,651</td><td>772</td><td>522</td><td>250</td><td>245</td><td>5</td><td>4,879</td><td>4,571</td><td>308</td></tr><tr><td>1952</td><td>5,074</td><td>1,015</td><td>47</td><td>968</td><td>962</td><td>6</td><td>4,059</td><td>3,806</td><td>253</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>468</td><td>90</td><td>4</td><td>86</td><td>86</td><td>*</td><td>378</td><td>354</td><td>24</td></tr><tr><td>August</td><td>399</td><td>83</td><td>3</td><td>80</td><td>79</td><td>*</td><td>316</td><td>295</td><td>21</td></tr><tr><td>September</td><td>417</td><td>78</td><td>3</td><td>76</td><td>75</td><td>*</td><td>338</td><td>317</td><td>21</td></tr><tr><td>October</td><td>398</td><td>88</td><td>3</td><td>85</td><td>84</td><td>*</td><td>311</td><td>289</td><td>21</td></tr><tr><td>November</td><td>346</td><td>71</td><td>2</td><td>69</td><td>69</td><td>*</td><td>275</td><td>259</td><td>17</td></tr><tr><td>December</td><td>422</td><td>88</td><td>2</td><td>87</td><td>86</td><td>*</td><td>333</td><td>315</td><td>19</td></tr><tr><td>1953-January</td><td>435</td><td>101</td><td>2</td><td>98</td><td>98</td><td>*</td><td>334</td><td>317</td><td>18</td></tr><tr><td>February</td><td>369</td><td>112</td><td>3</td><td>109</td><td>109</td><td>*</td><td>257</td><td>238</td><td>19</td></tr><tr><td>March</td><td>430</td><td>107</td><td>3</td><td>105</td><td>104</td><td>*</td><td>323</td><td>302</td><td>21</td></tr></table>
1/ Details by series on a cumulative basis and by periods for Series A-D combined will be found in the February 1932 and previous issues of the "Treasury Bulletin".
2/ Includes exchanges of matured Series E bonds for Series G bonds beginning May 1951 and for Series X bonds beginning May 1952.
3/ Includes both matured and unmatured bonds; see Table 4.
4/ Sales began June 1, 1952.
2/ Sales were discontinued after April 30, 1952.
6/ Sales began May 1, 1952.
7/ Comparable data are not available prior to January 1930.
3/ Of the total maturity value, 75% is issue price and 25% is accrued discount.
2/ Includes redemptions not yet classified.
* Less than $500,000.
p Preliminary.
May 1955
33
UNITED STATES SAVINGS BONDS
Table 5.- Sales and Redemptions by Denominations, Series E and H and Series F, G, J, and K
(In thousands of pieces)
<table><tr><th>Period</th><th>Total, all denominations</th><th>$10 2/</th><th>$25</th><th>$50</th><th>$100</th><th>$200 3/</th><th>$500</th><th>$1,000</th><th>$5,000 4/</th><th>$10,000 4/</th></tr><tr><td colspan="11">Serie E and H combined 1/</td></tr><tr><td colspan="11">Sales</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>882,683</td><td>9,223</td><td>623,733</td><td>128,084</td><td>100,769</td><td>-</td><td>11,753</td><td>9,122</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>165,039</td><td>8,505</td><td>112,071</td><td>24,274</td><td>14,693</td><td>1,311</td><td>2,065</td><td>2,121</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>71,356</td><td>2,095</td><td>45,876</td><td>10,896</td><td>7,803</td><td>801</td><td>1,645</td><td>2,241</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>58,971</td><td>522</td><td>36,146</td><td>9,901</td><td>7,777</td><td>816</td><td>1,571</td><td>2,238</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>64,576</td><td>394</td><td>39,400</td><td>11,425</td><td>8,550</td><td>916</td><td>1,569</td><td>2,322</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>64,304</td><td>335</td><td>39,150</td><td>11,841</td><td>8,654</td><td>917</td><td>1,413</td><td>1,995</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>64,299</td><td>1</td><td>41,751</td><td>11,786</td><td>7,649</td><td>786</td><td>1,036</td><td>1,290</td><td>-</td><td>-</td></tr><tr><td>1952 p.</td><td>74,136</td><td>*</td><td>50,701</td><td>13,129</td><td>7,559</td><td>720</td><td>948</td><td>1,076</td><td>1</td><td>*</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>992,118</td><td>14,963</td><td>697,925</td><td>144,232</td><td>110,832</td><td>769</td><td>13,073</td><td>10,323</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>93,502</td><td>4,191</td><td>62,769</td><td>13,757</td><td>8,492</td><td>918</td><td>1,505</td><td>1,870</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>62,574</td><td>974</td><td>39,219</td><td>10,099</td><td>7,650</td><td>803</td><td>1,607</td><td>2,223</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>61,813</td><td>435</td><td>37,659</td><td>10,640</td><td>8,246</td><td>879</td><td>1,603</td><td>2,352</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>65,118</td><td>371</td><td>39,572</td><td>11,826</td><td>8,688</td><td>933</td><td>1,514</td><td>2,213</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>62,929</td><td>141</td><td>39,050</td><td>11,660</td><td>8,253</td><td>865</td><td>1,257</td><td>1,703</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>68,069</td><td>1</td><td>45,661</td><td>12,148</td><td>7,430</td><td>738</td><td>951</td><td>1,139</td><td>-</td><td>-</td></tr><tr><td>1952 p.</td><td>77,271</td><td>-</td><td>52,808</td><td>13,773</td><td>7,721</td><td>726</td><td>1,043</td><td>1,191</td><td>8</td><td>3</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July p.</td><td>6,281</td><td>-</td><td>4,247</td><td>1,125</td><td>639</td><td>60</td><td>96</td><td>111</td><td>2</td><td>*</td></tr><tr><td>August p.</td><td>6,194</td><td>-</td><td>4,165</td><td>1,119</td><td>642</td><td>61</td><td>97</td><td>109</td><td>1</td><td>*</td></tr><tr><td>September p.</td><td>6,114</td><td>-</td><td>4,169</td><td>1,084</td><td>619</td><td>59</td><td>89</td><td>94</td><td>1</td><td>*</td></tr><tr><td>October p.</td><td>6,519</td><td>-</td><td>4,422</td><td>1,177</td><td>661</td><td>63</td><td>93</td><td>100</td><td>1</td><td>*</td></tr><tr><td>November p.</td><td>5,778</td><td>-</td><td>3,976</td><td>1,936</td><td>589</td><td>56</td><td>82</td><td>88</td><td>1</td><td>*</td></tr><tr><td>December p.</td><td>7,146</td><td>-</td><td>4,857</td><td>1,309</td><td>708</td><td>66</td><td>97</td><td>108</td><td>1</td><td>*</td></tr><tr><td>1953-January p.</td><td>7,743</td><td>-</td><td>5,167</td><td>1,356</td><td>805</td><td>83</td><td>142</td><td>188</td><td>2</td><td>1</td></tr><tr><td>February p.</td><td>6,283</td><td>-</td><td>4,186</td><td>1,086</td><td>665</td><td>68</td><td>118</td><td>158</td><td>2</td><td>1</td></tr><tr><td>March p.</td><td>7,812</td><td>-</td><td>5,268</td><td>1,425</td><td>781</td><td>74</td><td>118</td><td>144</td><td>2</td><td>1</td></tr><tr><td>Inception to date p</td><td>1,505,232</td><td>21,076</td><td>1,029,284</td><td>232,002</td><td>169,563</td><td>6,855</td><td>22,930</td><td>23,504</td><td>13</td><td>6</td></tr></table>
Redemptions
<table><tr><th>Fiscal years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>241,760</td><td>1,317</td><td>198,935</td><td>27,464</td><td>12,201</td><td>-</td><td>1,062</td><td>780</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>192,985</td><td>6,247</td><td>115,094</td><td>26,344</td><td>13,205</td><td>76</td><td>1,141</td><td>877</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>123,725</td><td>4,109</td><td>88,836</td><td>17,872</td><td>10,713</td><td>189</td><td>1,105</td><td>900</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>93,438</td><td>2,052</td><td>65,331</td><td>14,302</td><td>9,387</td><td>246</td><td>1,115</td><td>1,004</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>79,646</td><td>1,369</td><td>54,809</td><td>12,623</td><td>8,450</td><td>284</td><td>1,077</td><td>1,035</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>76,109</td><td>1,017</td><td>52,101</td><td>12,346</td><td>8,155</td><td>334</td><td>1,069</td><td>1,088</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>82,875</td><td>701</td><td>54,840</td><td>14,134</td><td>9,911</td><td>466</td><td>1,351</td><td>1,472</td><td>-</td><td>-</td></tr><tr><td>1952</td><td>76,403</td><td>443</td><td>51,649</td><td>12,662</td><td>8,777</td><td>371</td><td>1,211</td><td>1,291</td><td>-</td><td>-</td></tr><tr><th>Calendar years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>341,505</td><td>4,150</td><td>275,768</td><td>40,689</td><td>18,235</td><td>*</td><td>1,533</td><td>1,129</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>163,115</td><td>5,802</td><td>118,862</td><td>23,111</td><td>12,965</td><td>165</td><td>1,236</td><td>975</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>102,977</td><td>2,897</td><td>78,911</td><td>15,295</td><td>9,664</td><td>213</td><td>1,077</td><td>920</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>85,888</td><td>1,595</td><td>59,265</td><td>13,470</td><td>9,086</td><td>273</td><td>1,134</td><td>1,065</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>76,933</td><td>1,217</td><td>52,996</td><td>12,284</td><td>8,065</td><td>302</td><td>1,046</td><td>1,025</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>79,176</td><td>835</td><td>53,087</td><td>13,257</td><td>9,081</td><td>404</td><td>1,220</td><td>1,292</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>77,202</td><td>549</td><td>51,552</td><td>13,000</td><td>9,079</td><td>420</td><td>1,244</td><td>1,359</td><td>-</td><td>-</td></tr><tr><td>1952</td><td>80,420</td><td>375</td><td>50,000</td><td>13,285</td><td>8,991</td><td>356</td><td>1,191</td><td>1,220</td><td>*</td><td>*</td></tr><tr><th>Months:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>7,607</td><td>34</td><td>5,247</td><td>1,251</td><td>827</td><td>32</td><td>107</td><td>108</td><td>-</td><td>-</td></tr><tr><td>August</td><td>6,560</td><td>27</td><td>4,582</td><td>1,060</td><td>691</td><td>26</td><td>87</td><td>86</td><td>-</td><td>-</td></tr><tr><td>September</td><td>6,976</td><td>30</td><td>4,818</td><td>1,156</td><td>757</td><td>30</td><td>93</td><td>91</td><td>-</td><td>-</td></tr><tr><td>October</td><td>6,437</td><td>26</td><td>4,399</td><td>1,078</td><td>723</td><td>29</td><td>92</td><td>90</td><td>-</td><td>-</td></tr><tr><td>November</td><td>5,537</td><td>21</td><td>3,811</td><td>920</td><td>611</td><td>24</td><td>76</td><td>74</td><td>*</td><td>*</td></tr><tr><td>December</td><td>7,159</td><td>26</td><td>4,987</td><td>1,179</td><td>759</td><td>27</td><td>92</td><td>88</td><td>*</td><td>*</td></tr><tr><td>1953-January p.</td><td>7,424</td><td>30</td><td>5,115</td><td>1,232</td><td>817</td><td>30</td><td>104</td><td>97</td><td>*</td><td>*</td></tr><tr><td>February p.</td><td>5,603</td><td>23</td><td>3,835</td><td>930</td><td>624</td><td>26</td><td>82</td><td>83</td><td>*</td><td>*</td></tr><tr><td>March p.</td><td>7,130</td><td>26</td><td>4,979</td><td>1,190</td><td>763</td><td>32</td><td>95</td><td>95</td><td>*</td><td>*</td></tr><tr><td>Inception to date p</td><td>1,027,424</td><td>17,498</td><td>753,369</td><td>147,743</td><td>87,371</td><td>2,222</td><td>9,961</td><td>9,260</td><td>*</td><td>*</td></tr></table>
Footnotes at end of table.
(Continued on following page)
Treasury Bulletin
34
UNITED STATES SAVINGS BONDS
Table 5.- Sales and Redemptions by Denominations, Series E and H and Series F, G, J, and K - (Continued
(In thousands of pieces)
<table><tr><th>Period</th><th>Total, all denominations</th><th>$25 1/</th><th>$100 8/</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>$100,000 9/</th></tr><tr><td colspan="9">Serie F, G, J, and K combined 6/</td></tr><tr><td>Fiscal years:</td><td></td><td colspan="7">Sales</td></tr><tr><td>1941-45</td><td>12,789</td><td>883</td><td>4,564</td><td>1,957</td><td>4,236</td><td>551</td><td>598</td><td>-</td></tr><tr><td>1946</td><td>2,323</td><td>126</td><td>649</td><td>371</td><td>937</td><td>117</td><td>124</td><td>-</td></tr><tr><td>1947</td><td>2,074</td><td>43</td><td>466</td><td>345</td><td>970</td><td>128</td><td>122</td><td>-</td></tr><tr><td>1948</td><td>1,630</td><td>31</td><td>385</td><td>279</td><td>747</td><td>97</td><td>90</td><td>-</td></tr><tr><td>1949</td><td>1,378</td><td>28</td><td>311</td><td>214</td><td>556</td><td>73</td><td>197</td><td>-</td></tr><tr><td>1950</td><td>1,114</td><td>26</td><td>275</td><td>180</td><td>486</td><td>63</td><td>84</td><td>-</td></tr><tr><td>1951</td><td>813 5/</td><td>21</td><td>193</td><td>119</td><td>301</td><td>38</td><td>142</td><td>-</td></tr><tr><td>1952 p.....</td><td>533 2/</td><td>18</td><td>149</td><td>101</td><td>218</td><td>24</td><td>23</td><td>*</td></tr><tr><td>Calendar years:</td><td></td><td colspan="7"></td></tr><tr><td>1941-45</td><td>14,056</td><td>974</td><td>4,964</td><td>2,165</td><td>4,705</td><td>604</td><td>644</td><td>-</td></tr><tr><td>1946</td><td>2,098</td><td>56</td><td>491</td><td>340</td><td>957</td><td>127</td><td>126</td><td>-</td></tr><tr><td>1947</td><td>1,863</td><td>36</td><td>420</td><td>314</td><td>871</td><td>114</td><td>109</td><td>-</td></tr><tr><td>1948</td><td>1,529</td><td>29</td><td>343</td><td>240</td><td>629</td><td>83</td><td>205</td><td>-</td></tr><tr><td>1949</td><td>1,172</td><td>27</td><td>293</td><td>197</td><td>517</td><td>65</td><td>74</td><td>-</td></tr><tr><td>1950</td><td>1,068</td><td>24</td><td>242</td><td>155</td><td>416</td><td>57</td><td>175</td><td>-</td></tr><tr><td>1951</td><td>622 5/</td><td>20</td><td>176</td><td>109</td><td>255</td><td>29</td><td>34</td><td>-</td></tr><tr><td>1952 p.....</td><td>383 2/</td><td>17</td><td>80</td><td>79</td><td>163</td><td>20</td><td>23</td><td>1</td></tr><tr><td>Months:</td><td></td><td colspan="7"></td></tr><tr><td>1952-July p....</td><td>24</td><td>1</td><td>2</td><td>5</td><td>11</td><td>2</td><td>2</td><td>*</td></tr><tr><td>August p....</td><td>25</td><td>1</td><td>3</td><td>6</td><td>11</td><td>2</td><td>2</td><td>*</td></tr><tr><td>September p....</td><td>21</td><td>1</td><td>2</td><td>5</td><td>10</td><td>1</td><td>2</td><td>*</td></tr><tr><td>October p....</td><td>23</td><td>2</td><td>3</td><td>5</td><td>10</td><td>1</td><td>2</td><td>*</td></tr><tr><td>November p....</td><td>19</td><td>1</td><td>3</td><td>4</td><td>8</td><td>1</td><td>1</td><td>*</td></tr><tr><td>December p....</td><td>25</td><td>1</td><td>4</td><td>6</td><td>11</td><td>2</td><td>2</td><td>*</td></tr><tr><td>1953-January p....</td><td>35</td><td>2</td><td>5</td><td>8</td><td>16</td><td>2</td><td>3</td><td>*</td></tr><tr><td>February p....</td><td>26</td><td>1</td><td>3</td><td>6</td><td>12</td><td>2</td><td>2</td><td>*</td></tr><tr><td>March p....</td><td>24</td><td>1</td><td>3</td><td>5</td><td>11</td><td>2</td><td>2</td><td>*</td></tr><tr><td>Inception to date p</td><td>22,878</td><td>1,188</td><td>7,020</td><td>3,617</td><td>8,550</td><td>1,104</td><td>1,397</td><td>1</td></tr><tr><td colspan="9">Redemptions</td></tr><tr><td>Fiscal years:</td><td></td><td colspan="7"></td></tr><tr><td>1941-45</td><td>595</td><td>40</td><td>221</td><td>88</td><td>194</td><td>28</td><td>24</td><td>-</td></tr><tr><td>1946</td><td>600</td><td>59</td><td>227</td><td>88</td><td>186</td><td>24</td><td>17</td><td>-</td></tr><tr><td>1947</td><td>746</td><td>61</td><td>272</td><td>113</td><td>243</td><td>32</td><td>25</td><td>-</td></tr><tr><td>1948</td><td>859</td><td>79</td><td>293</td><td>133</td><td>292</td><td>37</td><td>26</td><td>-</td></tr><tr><td>1949</td><td>925</td><td>86</td><td>312</td><td>144</td><td>316</td><td>39</td><td>28</td><td>-</td></tr><tr><td>1950</td><td>922</td><td>83</td><td>306</td><td>147</td><td>323</td><td>37</td><td>26</td><td>-</td></tr><tr><td>1951</td><td>1,032</td><td>73</td><td>324</td><td>167</td><td>385</td><td>47</td><td>36</td><td>-</td></tr><tr><td>1952</td><td>884</td><td>55</td><td>274</td><td>142</td><td>330</td><td>41</td><td>43</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td colspan="7"></td></tr><tr><td>1941-45</td><td>835</td><td>64</td><td>311</td><td>123</td><td>267</td><td>38</td><td>32</td><td>-</td></tr><tr><td>1946</td><td>728</td><td>64</td><td>273</td><td>109</td><td>230</td><td>30</td><td>21</td><td>-</td></tr><tr><td>1947</td><td>800</td><td>72</td><td>283</td><td>122</td><td>264</td><td>34</td><td>25</td><td>-</td></tr><tr><td>1948</td><td>917</td><td>81</td><td>309</td><td>143</td><td>316</td><td>40</td><td>28</td><td>-</td></tr><tr><td>1949</td><td>915</td><td>87</td><td>305</td><td>144</td><td>315</td><td>38</td><td>26</td><td>-</td></tr><tr><td>1950</td><td>977</td><td>79</td><td>318</td><td>158</td><td>352</td><td>41</td><td>29</td><td>-</td></tr><tr><td>1951</td><td>975</td><td>63</td><td>300</td><td>155</td><td>366</td><td>45</td><td>45</td><td>-</td></tr><tr><td>1952</td><td>848</td><td>49</td><td>266</td><td>140</td><td>319</td><td>40</td><td>35</td><td>-</td></tr><tr><td>Months:</td><td></td><td colspan="7"></td></tr><tr><td>1952-July</td><td>77</td><td>5</td><td>24</td><td>12</td><td>29</td><td>4</td><td>3</td><td>-</td></tr><tr><td>August</td><td>72</td><td>4</td><td>22</td><td>12</td><td>28</td><td>4</td><td>3</td><td>-</td></tr><tr><td>September</td><td>74</td><td>4</td><td>23</td><td>12</td><td>28</td><td>4</td><td>3</td><td>-</td></tr><tr><td>October</td><td>66</td><td>4</td><td>21</td><td>11</td><td>25</td><td>3</td><td>3</td><td>-</td></tr><tr><td>November</td><td>68</td><td>3</td><td>21</td><td>12</td><td>26</td><td>3</td><td>3</td><td>-</td></tr><tr><td>December</td><td>73</td><td>4</td><td>23</td><td>12</td><td>27</td><td>4</td><td>3</td><td>-</td></tr><tr><td>Inception through December 1952 10/</td><td>6,994</td><td>559</td><td>2,363</td><td>1,094</td><td>2,429</td><td>307</td><td>241</td><td>-</td></tr></table>
Source: Based on Daily Treasury Statement and reports from Federal Reserve Banks and Bureau of the Public Debt.
1/ Salee of Series E bonds began June 1, 1952.
2/ Sale was authorized June 1944, to Armed Forces only; and discontinued after March 31, 1950.
3/ Salee began in October 1945.
4/ Salee of $10,000 denomination Series E bonds were authorized on May 1, 1952, and $5,000 and $10,000 Series H bonds on June 1, 1952.
5/ Include exchanges of matured Series E bonds for Series G bonds beginning May 1951 and for Series K bonds beginning May 1952.
6/ Sales of Series F and G bonds were discontinued on April 30, 1952, and sales of Series J and K bonds began on May 1, 1952.
7/ All Series F bonds from December 1941 until May 1, 1952, when Series J bonds were issued.
8/ Sale of $100 denomination not offered for Series K bonds.
9/ Sale authorized for Series J and K bonds on May 1, 1952.
10/ Latest date for which information by denominations is available.
* Less than 500 pieces.
p Preliminary.
May 1953
35
TREASURY SAVINGS NOTES
Treasury tax and savings notes have been issued in five series: Tax Series A from August 1, 1941, through June 22, 1943; Tax Series B from August 1, 1941, through September 12, 1942; Savings Series C (originally designated Tax Series C) from September 14, 1942, through August 31, 1948; Savings Series D from September 1, 1948, through May 14, 1951; and Savings Series A beginning on May 15, 1951.
issue. For details concerning terms and conditions, investment yields, and tax payment or redemption values of Series A and B, see "Annual Report of the Secretary of the Treasury" for 1942, pages 207 and 220, and for sales and redemptions by fiscal years and months, see "Treasury Bulletin" for February 1946, pages 42 and 43.
Details concerning terms and conditions for purchase and redemption and investment yields of Savings Series A appear in the June 1951 issue of the "Treasury Bulletin", page A-1. Similar information with respect to Savings Series D will be found in the October 1948 and September 1949 issues, and with respect to Savings Series C in the October 1945
In the following tables sales and redemptions of Treasury savings notes are shown at par value. Matured notes redeemed (either for cash or for tax payment) are included in the figures on redemptions. Matured notes outstanding are reflected in the interest-bearing debt until all notes of the series have matured, when they are transferred to matured debt upon which interest has ceased.
Table 1.- Sales and Redemptions by Series, Cumulative through March 31, 1953
(In millions of dollars)
<table><tr><th rowspan="2">Series</th><th rowspan="2">Sales</th><th colspan="3">Redemptions</th><th colspan="2">Amount outstanding</th></tr><tr><th>Total</th><th>For cash</th><th>For taxes</th><th>Matured debt</th><th>Interest-bearing debt</th></tr><tr><td>Series A (tax series)</td><td>407 1/</td><td>406</td><td>67 1/</td><td>339</td><td>1</td><td>-</td></tr><tr><td>Series B (tax series)</td><td>4,944</td><td>4,944</td><td>182 1/</td><td>4,761</td><td>*</td><td>-</td></tr><tr><td>Series C</td><td>32,438 1/</td><td>32,432</td><td>11,039</td><td>21,393</td><td>6</td><td>-</td></tr><tr><td>Series D</td><td>12,333</td><td>12,094</td><td>9,070</td><td>3,025</td><td>7</td><td>232</td></tr><tr><td>Series A</td><td>9,057</td><td>4,410</td><td>933</td><td>3,477</td><td>-</td><td>4,647</td></tr><tr><td>Total</td><td>59,178</td><td>54,286</td><td>21,292</td><td>32,994</td><td>14</td><td>4,879</td></tr></table>
Sources: Office of the Treasurer of the U.S.; Daily Treasury Statement 1/ Includes exchanges in connection with the offering in September 1942
of Tax Series A-1945 and Series C. Less than $500,000.
Table 2.- Sales and Redemptions by Periods, All Series Combined
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th colspan="3">Redemptions 1/</th><th colspan="2">Amount outstading</th></tr><tr><th></th><th></th><th>Total</th><th>For cash</th><th>For taxes</th><th>Matured debt</th><th>Interest-bearing debt</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-45</td><td>28,867</td><td>18,725</td><td>1,256</td><td>17,469</td><td>6</td><td>10,136</td></tr><tr><td>1946</td><td>3,525</td><td>6,935</td><td>2,630</td><td>4,305</td><td>20</td><td>6,711</td></tr><tr><td>1947</td><td>3,057</td><td>4,200</td><td>2,185</td><td>2,015</td><td>28</td><td>5,560</td></tr><tr><td>1948</td><td>2,144</td><td>3,303</td><td>1,972</td><td>1,331</td><td>35</td><td>4,394</td></tr><tr><td>1949</td><td>3,994</td><td>3,532</td><td>2,079</td><td>1,453</td><td>32</td><td>4,860</td></tr><tr><td>1950</td><td>6,150</td><td>2,549</td><td>1,510</td><td>1,039</td><td>20</td><td>8,472</td></tr><tr><td>1951</td><td>5,142</td><td>2,799</td><td>4,633</td><td>1,166</td><td>18</td><td>7,818</td></tr><tr><td>1952</td><td>4,965</td><td>6,174</td><td>3,437</td><td>2,737</td><td>14</td><td>6,612</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>31,050</td><td>22,737</td><td>2,691</td><td>20,046</td><td>77</td><td>8,235</td></tr><tr><td>1946</td><td>2,789</td><td>5,305</td><td>2,337</td><td>2,968</td><td>72</td><td>5,725</td></tr><tr><td>1947</td><td>2,925</td><td>3,244</td><td>1,881</td><td>1,363</td><td>94</td><td>5,384</td></tr><tr><td>1948</td><td>3,032</td><td>3,871</td><td>2,446</td><td>1,424</td><td>66</td><td>4,572</td></tr><tr><td>1949</td><td>5,971</td><td>2,951</td><td>1,584</td><td>1,366</td><td>49</td><td>7,610</td></tr><tr><td>1950</td><td>3,613</td><td>2,592</td><td>1,802</td><td>790</td><td>40</td><td>8,640</td></tr><tr><td>1951</td><td>5,823</td><td>6,922</td><td>5,657</td><td>1,265</td><td>47</td><td>7,534</td></tr><tr><td>1952</td><td>3,726</td><td>5,510</td><td>2,564</td><td>2,946</td><td>28</td><td>5,770</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>279</td><td>452</td><td>389</td><td>62</td><td>13</td><td>6,440</td></tr><tr><td>August</td><td>176</td><td>287</td><td>253</td><td>34</td><td>12</td><td>6,330</td></tr><tr><td>September</td><td>114</td><td>406</td><td>203</td><td>202</td><td>11</td><td>6,039</td></tr><tr><td>October</td><td>176</td><td>189</td><td>122</td><td>67</td><td>11</td><td>6,026</td></tr><tr><td>November</td><td>173</td><td>111</td><td>88</td><td>24</td><td>10</td><td>6,089</td></tr><tr><td>December</td><td>168</td><td>470</td><td>205</td><td>265</td><td>28</td><td>5,770</td></tr><tr><td>1953-January</td><td>107</td><td>205</td><td>164</td><td>41</td><td>22</td><td>5,676</td></tr><tr><td>February</td><td>80</td><td>118</td><td>83</td><td>34</td><td>19</td><td>5,642</td></tr><tr><td>March</td><td>63</td><td>831</td><td>82</td><td>749</td><td>14</td><td>4,879</td></tr></table>
Source: Office of the Treasurer of the U.S.; Daily Treasury Statement. 1/ Includes both matured and unmatured notes.
36
Treasury Bulletin
OWNERSHIP OF FEDERAL SECURITIES
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total Federal securities outstanding</th><th>Total outstanding</th><th colspan="3">Interest-bearing securities issued by the U. S. Government</th><th colspan="3">Held by private investors</th><th colspan="3">Interest-bearing securities guaranteed by the U. S. Government 1/</th><th>Matured debt and debt bearing no interest</th></tr><tr><th></th><th></th><th></th><th colspan="3">Held by U. S. Government investment accounts 2/</th><th colspan="3">Held by Federal Reserve Banks - public issues</th><th colspan="3">Total outstanding</th><th>Held by U. S. Government investment accounts and Federal Reserve Banks 2/ 4/</th><th>Held by private investors</th><th>Public non-marketable issues 5/</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Public issues</th><th>Special issues</th><th>Total</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945.....</td><td>259,115</td><td>256,357</td><td>24,934</td><td>6,122</td><td>18,812</td><td>21,792</td><td>209,630</td><td>153,421</td><td>56,209</td><td>409</td><td>6</td><td>28</td><td>375</td><td>2,350</td></tr><tr><td>1946.....</td><td>269,899</td><td>268,111</td><td>29,121</td><td>6,789</td><td>22,332</td><td>23,783</td><td>215,206</td><td>159,064</td><td>56,143</td><td>467</td><td>9</td><td>34</td><td>424</td><td>1,321</td></tr><tr><td>1947.....</td><td>258,376</td><td>255,113</td><td>32,809</td><td>5,443</td><td>27,366</td><td>21,872</td><td>200,432</td><td>141,423</td><td>59,010</td><td>83</td><td>2</td><td>37</td><td>45</td><td>3,179</td></tr><tr><td>1948.....</td><td>252,366</td><td>250,063</td><td>35,761</td><td>5,550</td><td>30,211</td><td>21,366</td><td>192,936</td><td>133,567</td><td>59,369</td><td>69</td><td>-</td><td>27</td><td>42</td><td>2,234</td></tr><tr><td>1949.....</td><td>252,798</td><td>250,762</td><td>38,288</td><td>5,512</td><td>32,776</td><td>19,343</td><td>193,131</td><td>130,417</td><td>62,714</td><td>24</td><td>-</td><td>13</td><td>11</td><td>2,012</td></tr><tr><td>1950.....</td><td>257,377</td><td>255,209</td><td>37,830</td><td>5,474</td><td>32,356</td><td>18,331</td><td>199,048</td><td>131,629</td><td>67,419</td><td>17</td><td>-</td><td>16</td><td>1</td><td>2,150</td></tr><tr><td>1951.....</td><td>255,251</td><td>252,892</td><td>40,958</td><td>6,305</td><td>34,653</td><td>22,982</td><td>188,911</td><td>111,663</td><td>77,249</td><td>27</td><td>*</td><td>27</td><td>*</td><td>2,372</td></tr><tr><td>1952.....</td><td>259,151</td><td>256,863</td><td>44,335</td><td>6,596</td><td>37,739</td><td>22,906</td><td>189,623</td><td>115,185</td><td>74,437</td><td>44</td><td>*</td><td>43</td><td>1</td><td>2,244</td></tr><tr><td>1951-Dec.</td><td>259,461</td><td>257,070</td><td>42,281</td><td>6,379</td><td>35,902</td><td>23,801</td><td>190,988</td><td>116,753</td><td>74,235</td><td>40</td><td>*</td><td>39</td><td>1</td><td>2,350</td></tr><tr><td>1952-July</td><td>263,107</td><td>260,908</td><td>44,634</td><td>6,689</td><td>37,945</td><td>22,853</td><td>193,421</td><td>119,079</td><td>74,343</td><td>33</td><td>*</td><td>32</td><td>*</td><td>2,166</td></tr><tr><td>Aug.</td><td>263,225</td><td>261,060</td><td>45,018</td><td>6,711</td><td>38,307</td><td>23,146</td><td>192,897</td><td>118,572</td><td>74,325</td><td>38</td><td>*</td><td>37</td><td>*</td><td>2,127</td></tr><tr><td>Sept.</td><td>262,722</td><td>260,577</td><td>45,052</td><td>6,692</td><td>38,360</td><td>23,694</td><td>191,831</td><td>117,790</td><td>74,040</td><td>39</td><td>*</td><td>38</td><td>*</td><td>2,106</td></tr><tr><td>Oct.</td><td>264,964</td><td>262,820</td><td>45,071</td><td>6,681</td><td>38,390</td><td>23,575</td><td>194,175</td><td>120,087</td><td>74,088</td><td>43</td><td>*</td><td>43</td><td>*</td><td>2,100</td></tr><tr><td>Nov.</td><td>267,483</td><td>265,345</td><td>45,545</td><td>6,757</td><td>38,788</td><td>23,821</td><td>195,979</td><td>121,761</td><td>74,218</td><td>49</td><td>*</td><td>49</td><td>*</td><td>2,039</td></tr><tr><td>Dec.</td><td>267,445</td><td>265,293</td><td>45,891</td><td>6,742</td><td>39,150</td><td>24,697</td><td>194,705</td><td>120,709</td><td>73,996</td><td>53</td><td>*</td><td>52 r</td><td>*</td><td>2,100</td></tr><tr><td>1953-Jan.</td><td>267,450</td><td>265,323</td><td>45,991</td><td>6,894</td><td>39,097</td><td>23,944</td><td>195,389</td><td>121,303</td><td>74,086</td><td>47</td><td>1</td><td>45</td><td>1</td><td>2,030</td></tr><tr><td>Feb.</td><td>267,634</td><td>265,489</td><td>46,171</td><td>6,869</td><td>39,302</td><td>23,875</td><td>195,443</td><td>121,268</td><td>74,175</td><td>49</td><td>1</td><td>48</td><td>*</td><td>2,096</td></tr><tr><td>Mar.</td><td>264,536</td><td>262,380</td><td>46,269</td><td>6,906</td><td>39,354</td><td>23,806</td><td>192,313</td><td>118,844</td><td>73,469</td><td>50</td><td>2</td><td>48</td><td>*</td><td>2,106</td></tr></table>
Sources: Daily Treasury Statement for total amounts outstanding; reports from agencies and trust funds for securities held by U.S. Government investment accounts; and reports from Federal Reserve System for securities held by Federal Reserve Banks.
1/ Excludes guaranteed securities held by the Treasury.
2/ Includes accounts under the control of certain U.S. Government agencies whose investments are handled outside the Treasury; excludes Federal land banks after June 26, 1947, when the proprietary interest of the United States in those banks ended.
3/ The total amount of interest-bearing securities held by private investors is calculated by deducting from the total amount outstanding the amount held by U. S. Government investment accounts and Federal Reserve Banks.
4/ All public marketable issues.
5/ Consists of Commodity Credit Corporation demand obligations stated as of the close of the previous month.
* Less than $500,000.
r Revised.
Table 2.- Net Market Purchases or Sales of Federal Securities for Investment Accounts Handled by the Treasury
(In millions of dollars; negative figures are net sales)
<table><tr><th>Year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-.3</td><td>-.4</td><td>-.3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-.7</td><td>-.2</td><td>.4</td><td>*</td><td>-</td><td>*</td><td>-.2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-.5</td><td>30.0</td><td>5.8</td><td>.3</td><td>*</td><td>.3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>1.0</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td>.4</td><td>-35.2</td><td>-145.8</td><td>-67.8</td><td>-15.8</td><td>-2.7</td><td>-</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</td><td>-105.1</td><td>-11.5</td><td>-16.5</td><td>-10.0</td><td>20.5</td><td>-18.5</td><td>-19.0</td><td>-28.1</td><td>*</td><td>-5.9</td><td>-12.0</td></tr><tr><td>1945</td><td>-67.5</td><td>-48.1</td><td>-5.9</td><td>-55.6</td><td>-34.4</td><td>-56.4</td><td>-17.0</td><td>-.2</td><td>-12.5</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>-8.1</td><td>-.7</td><td>-</td><td>3.3</td><td>.4</td><td>-69.8</td><td>-157.8</td><td>-41.2</td><td>-74.1</td><td>-123.0</td><td>-57.6</td><td>-20.3</td></tr><tr><td>1947</td><td>-.1</td><td>-</td><td>-4.7</td><td>-61.3</td><td>-338.6</td><td>-359.2</td><td>-609.1</td><td>-308.1</td><td>-123.1</td><td>-11.1</td><td>221.0</td><td>696.4</td></tr><tr><td>1948</td><td>-.2</td><td>176.9</td><td>106.8</td><td>-12.1</td><td>-30.4</td><td>1.1</td><td>5.4</td><td>4.4</td><td>7.2</td><td>.1</td><td>-.8</td><td>-2</td></tr><tr><td>1949</td><td>8.8</td><td>-1.8</td><td>5.1</td><td>1.5</td><td>-54.7</td><td>-88.4</td><td>-.1</td><td>3.8</td><td>4.6</td><td>-1.7</td><td>11.5</td><td>-.1</td></tr><tr><td>1950</td><td>-6.6</td><td>13.5</td><td>6.3</td><td>1.1</td><td>-1.9</td><td>5.1</td><td>8.2</td><td>-2.0</td><td>5.0</td><td>5.8</td><td>10.7</td><td>7.0</td></tr><tr><td>1951</td><td>36.8</td><td>261.2</td><td>482.7</td><td>8.4</td><td>11.4</td><td>3.5</td><td>.2</td><td>4.7</td><td>2.8</td><td>8.4</td><td>-3.6</td><td>29.0</td></tr><tr><td>1952</td><td>22.1</td><td>6.7</td><td>5</td><td>19.9</td><td>2.9</td><td>1.5</td><td>1.4</td><td>1.9</td><td>3.5</td><td>16.5</td><td>11.7</td><td>8.2</td></tr><tr><td>1953</td><td>24.6</td><td>8.8</td><td>12.9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Consists of purchases or sales made by the Treasury of securities issued or guaranteed by the U. S. Government for (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. It will be noted that these
transactions differ from those reflected in Table 1 because they exclude those Government investment accounts for which investments are not handled by the Treasury. Table 2 also includes purchases under Section 19 of the Second Liberty Bond Act, as amended (31 U.S.C. 754 e), and excludes the Exchange Stabilization Fund. * Less than $50,000.
May 1955
37
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities
(Par value $1/- in billions of dollars)
<table><tr><th>End of month</th><th>Total Federal securities outstanding 2/</th><th colspan="3">Held by banks</th><th>U.S. Government investment accounts 3/</th><th colspan="7">Held by private nonbank investors</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 3/</th><th>Federal Reserve Banks</th><th></th><th>Total</th><th>Individuals 5/ Total</th><th>Individuals 5/ Savings bonds</th><th>Individuals 5/ Other</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporations 6/</th><th>State and local governments 7/</th><th>Miscellaneous investors 4/ 8/</th></tr><tr><td>1939-December</td><td>47.6</td><td>18.4</td><td>15.9</td><td>2.5</td><td>6.5</td><td>22.7</td><td>10.1</td><td>1.9</td><td>8.2</td><td>6.3</td><td>3.1</td><td>2.2</td><td>.4</td><td>.7</td></tr><tr><td>1940-June</td><td>48.5</td><td>18.6</td><td>16.1</td><td>2.5</td><td>7.1</td><td>22.8</td><td>10.1</td><td>2.6</td><td>7.5</td><td>6.5</td><td>3.1</td><td>2.1</td><td>.4</td><td>.7</td></tr><tr><td>December</td><td>50.9</td><td>19.5</td><td>17.3</td><td>2.2</td><td>7.6</td><td>23.9</td><td>10.6</td><td>2.8</td><td>7.8</td><td>6.9</td><td>3.2</td><td>2.0</td><td>.5</td><td>.7</td></tr><tr><td>1941-June</td><td>55.3</td><td>21.8</td><td>19.7</td><td>2.2</td><td>8.5</td><td>25.0</td><td>11.2</td><td>3.6</td><td>7.6</td><td>7.1</td><td>3.4</td><td>2.0</td><td>.6</td><td>.7</td></tr><tr><td>December</td><td>64.3</td><td>23.7</td><td>21.4</td><td>2.3</td><td>9.5</td><td>31.0</td><td>13.6</td><td>5.4</td><td>8.2</td><td>8.2</td><td>3.7</td><td>4.0</td><td>.7</td><td>.9</td></tr><tr><td>1942-June</td><td>77.0</td><td>28.7</td><td>26.0</td><td>2.6</td><td>10.6</td><td>37.7</td><td>17.8</td><td>9.1</td><td>8.7</td><td>9.2</td><td>3.9</td><td>4.9</td><td>.9</td><td>1.1</td></tr><tr><td>December</td><td>112.5</td><td>47.3</td><td>41.1</td><td>6.2</td><td>12.2</td><td>53.0</td><td>23.7</td><td>13.4</td><td>10.3</td><td>11.3</td><td>4.5</td><td>10.1</td><td>1.0</td><td>2.3</td></tr><tr><td>1943-June</td><td>140.8</td><td>59.4</td><td>52.2</td><td>7.2</td><td>14.3</td><td>67.0</td><td>30.9</td><td>19.2</td><td>11.7</td><td>13.1</td><td>5.3</td><td>12.9</td><td>1.5</td><td>3.4</td></tr><tr><td>December</td><td>170.1</td><td>71.5</td><td>59.9</td><td>11.5</td><td>16.9</td><td>81.7</td><td>37.6</td><td>24.7</td><td>12.9</td><td>15.1</td><td>6.1</td><td>16.4</td><td>2.1</td><td>4.4</td></tr><tr><td>1944-June</td><td>202.6</td><td>83.3</td><td>68.4</td><td>14.9</td><td>19.1</td><td>100.2</td><td>46.3</td><td>31.2</td><td>15.1</td><td>17.3</td><td>7.3</td><td>20.0</td><td>3.2</td><td>6.1</td></tr><tr><td>December</td><td>232.1</td><td>96.5</td><td>77.7</td><td>18.8</td><td>21.7</td><td>114.0</td><td>53.3</td><td>36.2</td><td>17.1</td><td>19.6</td><td>8.3</td><td>21.4</td><td>4.3</td><td>7.0</td></tr><tr><td>1945-June</td><td>259.1</td><td>106.0</td><td>84.2</td><td>21.8</td><td>24.9</td><td>128.2</td><td>59.5</td><td>40.7</td><td>18.9</td><td>22.7</td><td>9.6</td><td>22.9</td><td>5.3</td><td>8.3</td></tr><tr><td>December</td><td>278.7</td><td>115.0</td><td>90.8</td><td>24.3</td><td>27.0</td><td>136.6</td><td>64.3</td><td>42.9</td><td>21.4</td><td>24.0</td><td>10.7</td><td>22.0</td><td>6.5</td><td>9.1</td></tr><tr><td>1946-February (Peak)</td><td>279.8</td><td>116.7</td><td>93.8</td><td>22.9</td><td>28.0</td><td>135.1</td><td>64.1</td><td>43.3</td><td>20.8</td><td>24.4</td><td>11.1</td><td>19.9</td><td>6.7</td><td>8.9</td></tr><tr><td>June</td><td>269.9</td><td>108.2</td><td>84.4</td><td>23.8</td><td>29.1</td><td>132.6</td><td>63.4</td><td>43.5</td><td>20.0</td><td>24.9</td><td>11.5</td><td>17.7</td><td>6.5</td><td>8.6</td></tr><tr><td>December</td><td>259.5</td><td>97.9</td><td>74.5</td><td>23.3</td><td>30.9</td><td>130.7</td><td>64.2</td><td>44.2</td><td>20.1</td><td>24.9</td><td>11.8</td><td>15.3</td><td>6.3</td><td>8.1</td></tr><tr><td>1947-June</td><td>258.4</td><td>91.9</td><td>70.0</td><td>21.9</td><td>32.8</td><td>133.7</td><td>66.4</td><td>45.5</td><td>20.9</td><td>24.6</td><td>12.1</td><td>13.9</td><td>7.1</td><td>9.6</td></tr><tr><td>December</td><td>257.0</td><td>91.3</td><td>68.7</td><td>22.6</td><td>34.4</td><td>131.3</td><td>65.7</td><td>46.2</td><td>19.4</td><td>23.9</td><td>12.0</td><td>14.1</td><td>7.3</td><td>8.4</td></tr><tr><td>1948-June</td><td>252.4</td><td>85.9</td><td>64.6</td><td>21.4</td><td>35.8</td><td>130.7</td><td>65.8</td><td>47.1</td><td>18.6</td><td>22.8</td><td>12.0</td><td>13.6</td><td>7.8</td><td>8.7</td></tr><tr><td>December</td><td>252.9</td><td>85.8</td><td>62.5</td><td>23.3</td><td>37.3</td><td>129.7</td><td>65.5</td><td>47.8</td><td>17.6</td><td>21.2</td><td>11.5</td><td>14.8</td><td>7.9</td><td>8.9</td></tr><tr><td>1949-June</td><td>252.8</td><td>82.4</td><td>63.0</td><td>19.3</td><td>38.3</td><td>132.2</td><td>66.7</td><td>48.8</td><td>17.9</td><td>20.5</td><td>11.6</td><td>15.7</td><td>8.0</td><td>9.6</td></tr><tr><td>December</td><td>257.2</td><td>85.7</td><td>66.8</td><td>18.9</td><td>39.4</td><td>132.1</td><td>66.1</td><td>49.3</td><td>16.8</td><td>20.1</td><td>11.4</td><td>17.0</td><td>8.1</td><td>9.4</td></tr><tr><td>1950-June</td><td>257.4</td><td>83.9</td><td>65.6</td><td>18.3</td><td>37.8</td><td>135.6</td><td>66.8</td><td>49.9</td><td>17.0</td><td>19.8</td><td>11.6</td><td>19.0</td><td>8.7</td><td>9.7</td></tr><tr><td>December</td><td>256.7</td><td>82.6</td><td>61.8</td><td>20.8</td><td>39.2</td><td>134.9</td><td>65.2</td><td>49.6</td><td>15.6</td><td>18.7</td><td>10.9</td><td>20.8</td><td>8.8</td><td>10.5</td></tr><tr><td>1951-March</td><td>255.0</td><td>80.7</td><td>57.8</td><td>22.9</td><td>39.8</td><td>134.5</td><td>65.3</td><td>49.3</td><td>16.0</td><td>17.9</td><td>10.5</td><td>21.3</td><td>9.1</td><td>10.4</td></tr><tr><td>June</td><td>255.3</td><td>81.4</td><td>58.4</td><td>23.0</td><td>41.0</td><td>132.9</td><td>64.4</td><td>49.1</td><td>15.3</td><td>17.1</td><td>10.2</td><td>21.1</td><td>9.4</td><td>10.7</td></tr><tr><td>September</td><td>257.4</td><td>83.2</td><td>59.5</td><td>23.7</td><td>42.0</td><td>132.2</td><td>64.0</td><td>49.0</td><td>15.0</td><td>16.8</td><td>10.1</td><td>21.2</td><td>9.5</td><td>10.6</td></tr><tr><td>December</td><td>259.5</td><td>85.4</td><td>61.6</td><td>23.8</td><td>42.3</td><td>131.8</td><td>63.7</td><td>49.1</td><td>14.7</td><td>16.4</td><td>9.8</td><td>21.6</td><td>9.6</td><td>10.6</td></tr><tr><td>1952-January</td><td>259.8</td><td>84.8</td><td>62.1</td><td>22.7</td><td>42.7</td><td>132.3</td><td>63.7</td><td>49.1</td><td>14.6</td><td>16.4</td><td>9.8</td><td>21.9</td><td>9.9</td><td>10.5</td></tr><tr><td>February</td><td>260.4</td><td>83.8</td><td>61.2</td><td>22.5</td><td>42.9</td><td>133.8</td><td>64.3</td><td>49.1</td><td>15.2</td><td>16.3</td><td>9.8</td><td>22.6</td><td>10.0</td><td>10.8</td></tr><tr><td>March</td><td>258.1</td><td>82.6</td><td>60.1</td><td>22.5</td><td>43.0</td><td>132.5</td><td>64.5</td><td>49.1</td><td>15.4</td><td>16.3</td><td>9.8</td><td>21.2</td><td>10.1</td><td>10.6</td></tr><tr><td>April</td><td>258.3</td><td>82.8</td><td>60.5</td><td>22.4</td><td>43.2</td><td>132.3</td><td>64.1</td><td>49.0</td><td>15.1</td><td>16.2</td><td>9.8</td><td>20.7</td><td>10.2</td><td>11.3</td></tr><tr><td>May</td><td>260.0</td><td>83.3</td><td>61.0</td><td>22.3</td><td>43.7</td><td>132.9</td><td>63.9</td><td>49.0</td><td>14.9</td><td>16.0</td><td>9.8</td><td>21.6</td><td>10.2</td><td>11.5</td></tr><tr><td>June</td><td>259.2</td><td>84.0</td><td>61.1</td><td>22.9</td><td>44.3</td><td>130.8</td><td>63.6</td><td>49.0</td><td>14.6</td><td>15.7</td><td>9.6</td><td>20.0</td><td>10.4</td><td>11.6</td></tr><tr><td>July</td><td>263.1</td><td>85.5</td><td>62.7</td><td>22.9</td><td>44.6</td><td>132.9</td><td>64.1</td><td>49.0</td><td>15.1</td><td>16.0</td><td>9.8</td><td>20.8</td><td>10.7</td><td>11.5</td></tr><tr><td>August</td><td>263.2</td><td>84.9</td><td>61.8</td><td>23.1</td><td>45.0</td><td>133.3</td><td>63.8</td><td>49.0</td><td>14.8</td><td>16.1</td><td>9.7</td><td>21.3</td><td>10.8</td><td>11.5</td></tr><tr><td>September</td><td>262.7</td><td>85.2</td><td>61.5</td><td>23.7</td><td>45.1</td><td>132.5</td><td>63.7</td><td>49.0</td><td>14.7</td><td>16.1</td><td>9.7</td><td>20.8</td><td>10.9</td><td>11.3</td></tr><tr><td>October</td><td>265.0</td><td>86.5</td><td>63.0</td><td>23.6</td><td>45.1</td><td>133.3</td><td>63.8</td><td>49.0</td><td>14.8</td><td>16.0</td><td>9.6</td><td>21.0</td><td>10.9</td><td>12.0</td></tr><tr><td>November</td><td>267.5</td><td>87.9</td><td>64.1</td><td>23.8</td><td>45.5</td><td>134.0</td><td>63.9</td><td>49.1</td><td>14.8</td><td>16.1</td><td>9.5</td><td>21.4</td><td>10.9</td><td>12.2</td></tr><tr><td>December</td><td>267.4</td><td>88.0</td><td>63.3</td><td>24.7</td><td>45.9</td><td>133.6</td><td>64.0</td><td>49.2</td><td>14.9</td><td>16.0</td><td>9.5</td><td>21.3</td><td>11.0</td><td>11.7</td></tr><tr><td>1953-January</td><td>267.5</td><td>86.6</td><td>62.6</td><td>23.9</td><td>46.0</td><td>134.9</td><td>64.2</td><td>49.3</td><td>14.9</td><td>16.2</td><td>9.5</td><td>21.8</td><td>11.1</td><td>12.1</td></tr><tr><td>February p...</td><td>267.6</td><td>85.6</td><td>61.7</td><td>23.9</td><td>46.2</td><td>135.8</td><td>64.4</td><td>49.4</td><td>14.9</td><td>16.1</td><td>9.6</td><td>22.4</td><td>11.1</td><td>12.2</td></tr></table>
1/ United States savings bonds, Series A-F and J, are included at current redemption values.
2/ Securities issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury.
3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possessions. Figures exclude securities held in trust departments.
4/ Holdings by Federal land banks are included under "Miscellaneous investments" instead of "U. S. Government investment accounts" beginning June 30, 1947, since the proprietary interest of the United States in these banks ended June 26, 1947.
5/ Includes partnerships and personal trust accounts. Nonprofit institutions and corporate pension trust funds are included under "Miscellaneous investors".
6/ Exclusive of banks and insurance companies. 
7/ Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territories and island possessions. 
8/ Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances and international accounts in this country. Beginning December 1946, includes investments by the International Bank for Reconstruction and Development and the International Monetary Fund in special noninterest-bearing notes issued by the U. S. Government. 
p Preliminary.
Treasury Bulletin
38
TREASURY SURVEY OF OWNERSHIP, FEBRUARY 28, 1953
The Treasury Survey of Ownership covers securities issued by the United States Government and by Federal agencies. The banks and insurance companies included in the Survey account for approximately 95 percent of such securities held by all banks and insurance companies in the United States. Data were first published for March 31, 1941, in the May 1941 "Treasury Bulletin".
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 30 and December 31.
Section I
Securities Issued or Guaranteed by the United States Government
Table 1. - Summary of All Securities
(Par values - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstand-ing</th><th colspan="5">Held by investore covered in Treasury Survey</th><th>Held by all other investore 3/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>604 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public marketable</td><td>148,493</td><td>54,091</td><td>7,511</td><td>6,397</td><td>4,382</td><td>27,177</td><td>48,931</td></tr><tr><td>Public nonmarketable 4/</td><td>77,742</td><td>2,222</td><td>2,049</td><td>3,792</td><td>968</td><td>3,567</td><td>65,114</td></tr><tr><td>Special issues</td><td>39,302</td><td>-</td><td>-</td><td>-</td><td>-</td><td>39,302</td><td>-</td></tr><tr><td>Total interest-bearing securities</td><td>265,538</td><td>56,313</td><td>9,561</td><td>10,189</td><td>5,350</td><td>70,047</td><td>114,078</td></tr><tr><td>Matured debt and debt bearing no interest 5/</td><td>2,096</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total securities issued or guaranteed by the U. S. Government 6/</td><td>267,634</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of Section II.
Table 2.
Summary of Interest-Bearing Public Marketable Securities
(Par values - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstanding</th><th colspan="5">Held by investore covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>31h life</th><th>604 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Type of security:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issued by U. S. Government:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>21,710</td><td>5,831</td><td>169</td><td>472</td><td>117</td><td>751</td><td>14,371</td></tr><tr><td>Certificates of indebtedness</td><td>15,958</td><td>4,414</td><td>101</td><td>63</td><td>314</td><td>5,019</td><td>6,049</td></tr><tr><td>Treasury notes</td><td>30,282</td><td>10,866</td><td>53</td><td>5</td><td>497</td><td>13,791</td><td>5,069</td></tr><tr><td>Treasury bonds - bank eligible</td><td>59,359</td><td>32,536</td><td>3,302</td><td>1,892</td><td>2,595</td><td>4,424</td><td>14,610</td></tr><tr><td>Treasury bonds - bank restricted 1/</td><td>21,012</td><td>409</td><td>3,878</td><td>3,956</td><td>857</td><td>3,168</td><td>8,743</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>124</td><td>14</td><td>*</td><td>*</td><td>1</td><td>23</td><td>85</td></tr><tr><td>Guaranteed by U. S. Government 6/</td><td>49</td><td>21</td><td>8</td><td>9</td><td>3</td><td>1</td><td>7</td></tr><tr><td>Total</td><td>148,493</td><td>54,091</td><td>7,511</td><td>6,397</td><td>4,382</td><td>27,177</td><td>48,934</td></tr><tr><td>Call classes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>73,494</td><td>26,898</td><td>641</td><td>604</td><td>1,208</td><td>15,033</td><td>29,109</td></tr><tr><td>1 to 5 years</td><td>30,212</td><td>17,807</td><td>129</td><td>121</td><td>664</td><td>6,737</td><td>4,753</td></tr><tr><td>5 to 10 years</td><td>18,184</td><td>6,845</td><td>2,021</td><td>1,127</td><td>1,355</td><td>1,734</td><td>5,102</td></tr><tr><td>10 to 15 years</td><td>26,556</td><td>2,520</td><td>4,713</td><td>4,536</td><td>1,151</td><td>3,673</td><td>9,964</td></tr><tr><td>15 to 20 years</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Over 20 years</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>49</td><td>21</td><td>8</td><td>9</td><td>3</td><td>1</td><td>7</td></tr><tr><td>Total</td><td>148,493</td><td>54,091</td><td>7,511</td><td>6,397</td><td>4,382</td><td>27,177</td><td>48,934</td></tr><tr><td>Tax status: 8/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes</td><td>124</td><td>14</td><td>*</td><td>*</td><td>1</td><td>23</td><td>85</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>7,402</td><td>6,243</td><td>8</td><td>4</td><td>219</td><td>34</td><td>836</td></tr><tr><td>Subject to Federal income taxes 2/</td><td>140,967</td><td>47,834</td><td>7,504</td><td>6,393</td><td>4,163</td><td>27,120</td><td>47,953</td></tr><tr><td>Total</td><td>148,493</td><td>54,091</td><td>7,511</td><td>6,397</td><td>4,382</td><td>27,177</td><td>48,934</td></tr></table>
Footnotes at end of Section II.
May 1955
39
TREASURY SURVEY OF OWNERSHIP, FEBRUARY 28, 1953
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Per values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="6">Held by investors covered in Treasury Survey</th><th>Held by all other investors 1/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>604 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Treasury bills:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Regular Series (taxable)</td><td>17,205</td><td>4,559</td><td>152</td><td>435</td><td>97</td><td>749</td><td>11,212</td></tr><tr><td>Tax Anticipation Series (taxable)</td><td>4,505</td><td>1,272</td><td>16</td><td>37</td><td>20</td><td>2</td><td>3,159</td></tr><tr><td>Total Treasury bills</td><td>21,710</td><td>5,831</td><td>168</td><td>472</td><td>117</td><td>751</td><td>14,371</td></tr><tr><td>Certificates of indebtedness:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-7/8 June 1953-B (taxable)</td><td>4,963</td><td>1,498</td><td>36</td><td>50</td><td>133</td><td>1,148</td><td>2,098</td></tr><tr><td>2 August 1953-C (taxable)</td><td>2,882</td><td>1,121</td><td>13</td><td>2</td><td>68</td><td>178</td><td>1,499</td></tr><tr><td>2-1/4 February 1954-A (taxable)</td><td>8,114</td><td>1,794</td><td>52</td><td>11</td><td>113</td><td>3,693</td><td>2,451</td></tr><tr><td>Total certificates of indebtedness</td><td>15,958</td><td>4,414</td><td>101</td><td>63</td><td>314</td><td>5,019</td><td>6,049</td></tr><tr><td>Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/8 December 1953-A (taxable)</td><td>10,542</td><td>1,000</td><td>23</td><td>2</td><td>81</td><td>7,507</td><td>1,930</td></tr><tr><td>1-3/8 March 1954-A (taxable)</td><td>4,675</td><td>2,945</td><td>8</td><td>1</td><td>180</td><td>245</td><td>1,296</td></tr><tr><td>1-1/2 March 1955-A (taxable)</td><td>5,365</td><td>4,208</td><td>14</td><td>*</td><td>142</td><td>91</td><td>910</td></tr><tr><td>1-3/4 December 1955-B (taxable)</td><td>6,854</td><td>2,599</td><td>7</td><td>2</td><td>94</td><td>3,236</td><td>917</td></tr><tr><td>1-1/2 April 1956-EA (taxable)</td><td>1,007</td><td>6</td><td>-</td><td>-</td><td>*</td><td>1,000</td><td>1</td></tr><tr><td>1-1/2 October 1956-EO (taxable)</td><td>550</td><td>42</td><td>2</td><td>-</td><td>*</td><td>500</td><td>6</td></tr><tr><td>1-1/2 April 1957-EA (taxable)</td><td>531</td><td>28</td><td>1</td><td>-</td><td>1</td><td>500</td><td>2</td></tr><tr><td>1-1/2 October 1957-EO (taxable)</td><td>758</td><td>38</td><td>*</td><td>-</td><td>*</td><td>714</td><td>5</td></tr><tr><td>Total Treasury notes</td><td>30,282</td><td>10,866</td><td>53</td><td>5</td><td>497</td><td>13,791</td><td>5,069</td></tr><tr><td>Treasury bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank eligible:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2 September 1951-53 (taxable)</td><td>7,986</td><td>3,971</td><td>105</td><td>20</td><td>229</td><td>862</td><td>2,799</td></tr><tr><td>2 December 1951-55 (taxable)</td><td>510</td><td>341</td><td>6</td><td>*</td><td>17</td><td>8</td><td>137</td></tr><tr><td>2 June 1952-54 (taxable)</td><td>5,825</td><td>3,705</td><td>70</td><td>7</td><td>169</td><td>464</td><td>1,411</td></tr><tr><td>2-1/4 June 1952-55 (taxable)</td><td>1,501</td><td>995</td><td>70</td><td>21</td><td>52</td><td>101</td><td>260</td></tr><tr><td>2 December 1952-54 (taxable)</td><td>8,662</td><td>5,969</td><td>97</td><td>19</td><td>215</td><td>298</td><td>2,064</td></tr><tr><td>2 June 1953-55 (partially)</td><td>725</td><td>666</td><td>1</td><td>-</td><td>14</td><td>-</td><td>44</td></tr><tr><td>2-1/4 June 1954-56 (partially)</td><td>681</td><td>590</td><td>1</td><td>*</td><td>31</td><td>*</td><td>59</td></tr><tr><td>2-7/8 March 1955-60 (partially)</td><td>2,611</td><td>1,949</td><td>3</td><td>1</td><td>77</td><td>26</td><td>556</td></tr><tr><td>2-1/2 March 1956-58 (taxable)</td><td>1,449</td><td>1,147</td><td>33</td><td>10</td><td>32</td><td>21</td><td>204</td></tr><tr><td>2-1/4 September 1956-59 (taxable)</td><td>3,822</td><td>2,902</td><td>37</td><td>106</td><td>70</td><td>60</td><td>648</td></tr><tr><td>2-3/4 September 1956-59 (partially)</td><td>982</td><td>892</td><td>1</td><td>*</td><td>30</td><td>5</td><td>54</td></tr><tr><td>2-3/8 March 1957-59 (taxable)</td><td>927</td><td>460</td><td>24</td><td>*</td><td>8</td><td>339</td><td>95</td></tr><tr><td>2-3/8 June 1958 (taxable)</td><td>4,245</td><td>2,707</td><td>242</td><td>59</td><td>282</td><td>106</td><td>849</td></tr><tr><td>2-3/4 June 1958-53 (partially)</td><td>919</td><td>835</td><td>2</td><td>*</td><td>36</td><td>1</td><td>45</td></tr><tr><td>2-1/4 June 1959-62 (taxable)</td><td>5,280</td><td>876</td><td>989</td><td>381</td><td>506</td><td>582</td><td>1,947</td></tr><tr><td>2-1/2 December 1958 (taxable)</td><td>620</td><td>369</td><td>38</td><td>*</td><td>9</td><td>27</td><td>177</td></tr><tr><td>2-1/4 December 1959-62 (taxable)</td><td>3,468</td><td>220</td><td>378</td><td>326</td><td>351</td><td>754</td><td>1,439</td></tr><tr><td>2-3/4 December 1960-65 (partially)</td><td>1,485</td><td>1,312</td><td>1</td><td>3</td><td>30</td><td>1</td><td>138</td></tr><tr><td>2-1/2 June 1962-67 (taxable)</td><td>2,117</td><td>519</td><td>372</td><td>358</td><td>141</td><td>263</td><td>464</td></tr><tr><td>2-1/2 December 1963-68 (taxable)</td><td>2,828</td><td>113</td><td>716</td><td>561</td><td>259</td><td>367</td><td>812</td></tr><tr><td>2-1/2 September 1967-72 (taxable)</td><td>2,716</td><td>1,998</td><td>118</td><td>19</td><td>35</td><td>138</td><td>408</td></tr><tr><td>Total bank eligible</td><td>59,359</td><td>32,536</td><td>3,302</td><td>1,892</td><td>2,595</td><td>4,424</td><td>14,610</td></tr><tr><td>Bank restricted: 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/2 June 1964-69 (taxable)</td><td>3,757</td><td>35</td><td>1,344</td><td>719</td><td>184</td><td>424</td><td>1,092</td></tr><tr><td>2-1/2 December 1964-69 (taxable)</td><td>3,833</td><td>32</td><td>863</td><td>1,039</td><td>224</td><td>540</td><td>1,136</td></tr><tr><td>2-1/2 March 1965-70 (taxable)</td><td>4,724</td><td>54</td><td>861</td><td>1,203</td><td>165</td><td>1,152</td><td>1,288</td></tr><tr><td>2-1/2 March 1966-71 (taxable)</td><td>2,966</td><td>44</td><td>408</td><td>870</td><td>123</td><td>659</td><td>863</td></tr><tr><td>2-1/2 June 1967-72 (taxable)</td><td>1,896</td><td>78</td><td>253</td><td>50</td><td>50</td><td>136</td><td>1,328</td></tr><tr><td>2-1/2 December 1967-72 (taxable)</td><td>3,835</td><td>167</td><td>149</td><td>76</td><td>112</td><td>256</td><td>3,076</td></tr><tr><td>Total bank restricted</td><td>21,012</td><td>409</td><td>3,878</td><td>3,956</td><td>857</td><td>3,168</td><td>8,743</td></tr><tr><td>Total Treasury bonds</td><td>80,371</td><td>32,945</td><td>7,181</td><td>5,848</td><td>3,452</td><td>7,592</td><td>23,354</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
40
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, FEBRUARY 28
1953
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par value - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>604 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Other bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings bonds.........(wholly)</td><td>74</td><td>8</td><td>*</td><td>*</td><td>*</td><td>23</td><td>43</td></tr><tr><td>Panama Canal bonds.........(wholly)</td><td>50</td><td>6</td><td>-</td><td>-</td><td>1</td><td>*</td><td>43</td></tr><tr><td>Total other bonds.</td><td>124</td><td>14</td><td>*</td><td>*</td><td>1</td><td>23</td><td>85</td></tr><tr><td>Guaranteed securities 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration debentures.........(taxable 10/)</td><td>49</td><td>21</td><td>8</td><td>9</td><td>3</td><td>1</td><td>7</td></tr><tr><td>Total public marketable securities</td><td>148,493</td><td>54,091</td><td>7,511</td><td>6,397</td><td>4,382</td><td>27,177</td><td>48,934</td></tr></table>
Footnotes at end of Section II.
Table 4.- Interest-Bearing Public Nonmarketable Securities by Issues
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>604 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series E 4/.....(taxable)</td><td>35,400</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>35,399</td></tr><tr><td>Series F 4/.....(taxable)</td><td>3,802</td><td>454</td><td>15</td><td>38</td><td>84</td><td>1</td><td>3,210</td></tr><tr><td>Series G.....(taxable)</td><td>18,334</td><td>925</td><td>566</td><td>279</td><td>450</td><td>19</td><td>16,095</td></tr><tr><td>Series H.....(taxable)</td><td>257</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>257</td></tr><tr><td>Series J 4/.....(taxable)</td><td>111</td><td>1</td><td>1</td><td>1</td><td>3</td><td>-</td><td>106</td></tr><tr><td>Series K.....(taxable)</td><td>363</td><td>1</td><td>5</td><td>2</td><td>10</td><td>1</td><td>344</td></tr><tr><td>Total United States savings bonds.</td><td>58,268</td><td>1,381</td><td>587</td><td>321</td><td>547</td><td>22</td><td>55,411</td></tr><tr><td>Other U. S. securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury savings notes.....(taxable)</td><td>5,642</td><td>69</td><td>*</td><td>*</td><td>24</td><td>6</td><td>5,543</td></tr><tr><td>Depositary bonds.....(taxable)</td><td>399</td><td>399 11/</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Treasury bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investment Series A.....(taxable)</td><td>949</td><td>189</td><td>122</td><td>292</td><td>37</td><td>100</td><td>209</td></tr><tr><td>Investment Series B.....(taxable)</td><td>12,484</td><td>184</td><td>1,340</td><td>3,180</td><td>360</td><td>3,439</td><td>3,981</td></tr><tr><td>Total other U. S. securities.</td><td>19,474</td><td>841 11/</td><td>1,463</td><td>3,472</td><td>420</td><td>3,545</td><td>9,733</td></tr><tr><td>Guaranteed securities: 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation demand obligations.....(taxable)</td><td>*</td><td>12/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12/</td></tr><tr><td>Total public nonmarketable securities 12/.</td><td>77,742</td><td>2,222 11/</td><td>2,049</td><td>3,792</td><td>968</td><td>3,567</td><td>65,144</td></tr></table>
Footnotes at end of Section II.
May 1955
41
TREASURY SURVEY OF OWNERSHIP, FEBRUARY 28, 1953
Section II - Interest-Bearing Securities Issued by Federal Agencies but not Guaranteed by the United States Government
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 3/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,076 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>314 life</th><th>604 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Federal intermediate credit banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debentures....................(taxable)</td><td>706</td><td>361</td><td>27</td><td>4</td><td>29</td><td>-</td><td>284</td></tr><tr><td>Central Bank for Cooperatives:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/8/ June 1953 (Debentures)....(taxable)</td><td>40</td><td>31</td><td>1</td><td>-</td><td>*</td><td>-</td><td>8</td></tr><tr><td>2-1/2 February 1954 (Debentures)....(taxable)</td><td>40</td><td>30</td><td>*</td><td>-</td><td>1</td><td>-</td><td>9</td></tr><tr><td>2-5/8 June 1954 (Debentures)....(taxable)</td><td>30</td><td>17</td><td>4</td><td>-</td><td>1</td><td>-</td><td>8</td></tr><tr><td>Total Central Bank for Cooperatives securities</td><td>110</td><td>78</td><td>5</td><td>-</td><td>2</td><td>-</td><td>25</td></tr><tr><td>Federal home loan banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2.30/ April 1953 (Notes).........(taxable)</td><td>76</td><td>33</td><td>3</td><td>-</td><td>4</td><td>7</td><td>30</td></tr><tr><td>2.20/ May 1953 (Notes).........(taxable)</td><td>90</td><td>44</td><td>2</td><td>1</td><td>1</td><td>19</td><td>23</td></tr><tr><td>2.30/ August 1953 (Notes)......(taxable)</td><td>140</td><td>54</td><td>4</td><td>3</td><td>5</td><td>8</td><td>65</td></tr><tr><td>Total Federal home loan bank securities</td><td>307</td><td>130</td><td>10</td><td>4</td><td>11</td><td>34</td><td>118</td></tr><tr><td>Federal land banks: 13/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/4/ February 1953-55 (Bonds)....(taxable)</td><td>114</td><td>93</td><td>3</td><td>*</td><td>2</td><td>-</td><td>16</td></tr><tr><td>2-1/2 November 1954 (Bonds).....(taxable)</td><td>72</td><td>48</td><td>5</td><td>*</td><td>5</td><td>-</td><td>13</td></tr><tr><td>2-1/2 November 1954 (Bonds).....(taxable)</td><td>100</td><td>54</td><td>4</td><td>1</td><td>3</td><td>-</td><td>39</td></tr><tr><td>1-3/4 October 1955-57 (Bonds)....(taxable)</td><td>215</td><td>182</td><td>1</td><td>-</td><td>5</td><td>-</td><td>27</td></tr><tr><td>2-5/8 May 1956 (Bonds).........(taxable)</td><td>230</td><td>158</td><td>12</td><td>1</td><td>10</td><td>-</td><td>49</td></tr><tr><td>2-3/4 May 1958 (Bonds).........(taxable)</td><td>131</td><td>76</td><td>11</td><td>1</td><td>3</td><td>-</td><td>40</td></tr><tr><td>Total Federal land bank securities</td><td>862</td><td>613</td><td>35</td><td>4</td><td>28</td><td>-</td><td>183</td></tr></table>
1/ Exclude trust departments.
2/ Include trust companies and, beginning with figures for July 1949, also include stock savings banks. Formerly these banks were shown as a separate classification, but they are no longer so reported.
3/ Include those banks and insurance companies not reporting in the Treasury Survey.
4/ United States savings bonds, Series E, F, and J, are shown at current redemption values. They were reported at maturity values by the banks and insurance companies included in the Treasury Survey but have been adjusted to current redemption values for use in this statement.
5/ Holdings by reporting agencies not available.
9/ Exclude guaranteed securities held by the Treasury.
1/ Issues which commercial banks may not acquire prior to specified dates (with minor exceptions); see "Debt Outstanding", Table 3, footnote 1.
8/ Federal securities fall into three broad classes with respect to the imposition of Federal income taxes on income derived from them. "Wholly" tax-exempt securities are those with the income exempt from both normal tax and surtax. "Partially" tax-exempt securities are those with the
income exempt from the normal tax except that in the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any one holder is also exempt from the surtax. "Tax-able" securities are those with the income subject to normal tax and surtax.
9/ Includes F. H. A. debentures; see footnote 10.
10/ A small indeterminate amount of these debentures is partially tax-exempt.
11/ Includes $73.1 million depositary bonds held by commercial banks not included in the Treasury Survey.
12/ C. C. C. demand obligations as of the close of the previous month in the amount of $12 thousand, all held by commercial banks, are shown only in the total amount outstanding; holdings by reporting banks are not available.
13/ Excludes issues completely held by Farm Credit Administration agencies. The proprietary interest of the United States in these banks ended on June 26, 1947.
* Less than $500,000.
42
Treasury Bulletin
MARKET QUOTATIONS, MARCH 31, 195
Current 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. The securities listed in Section I include all publicly marketable securities issued or guaranteed by the United States Government except those not regularly quoted in the market. The issues excluded are postal savings bonds and Federal Housing Administration
debt securities. The latter are 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. The Treasury Department publication "Prices and Yields of Public Marketable Securities Issued by the United States Government and by Federal Agencies", which carried daily quotations for each month, was discontinued after February 1953.
Section I
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
<table><tr><th rowspan="2">Amount out-standing (millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Bank discount</th><th rowspan="2">Amount out-standing (millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Bank discount</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th></tr><tr><td>$1,201</td><td>4/2/53</td><td>1/2/53</td><td>2.00%</td><td>1.55%</td><td>1.78%</td><td>-1.9%</td><td>$1,301</td><td>5/21/53</td><td>2/19/53</td><td>2.02%</td><td>1.94%</td><td>1.98%</td><td>-1.09%</td></tr><tr><td>1,399</td><td>4/9/53</td><td>1/8/53</td><td>2.02</td><td>1.80</td><td>1.91</td><td>-1.09</td><td>1,301</td><td>5/28/53</td><td>2/26/53</td><td>2.02</td><td>1.94</td><td>1.98</td><td>-1.10</td></tr><tr><td>1,400</td><td>4/16/53</td><td>1/15/53</td><td>2.02</td><td>1.85</td><td>1.94</td><td>-1.09</td><td>1,301</td><td>6/4/53</td><td>3/5/53</td><td>2.02</td><td>1.95</td><td>1.98</td><td>-</td></tr><tr><td>1,400</td><td>4/23/53</td><td>1/22/53</td><td>2.02</td><td>1.90</td><td>1.96</td><td>-1.08</td><td>1,202</td><td>6/11/53</td><td>3/12/53</td><td>2.02</td><td>1.94</td><td>1.98</td><td>-</td></tr><tr><td>1,500</td><td>4/30/53</td><td>1/29/53</td><td>2.02</td><td>1.92</td><td>1.97</td><td>-1.08</td><td>1,201</td><td>6/18/53</td><td>3/19/53</td><td>2.03</td><td>1.95</td><td>1.99</td><td>-</td></tr><tr><td>1,300</td><td>5/7/53</td><td>2/5/53</td><td>2.02</td><td>1.93</td><td>1.98</td><td>-1.08</td><td>2,003</td><td>6/19/53</td><td>11/21/52 1/</td><td>2.03</td><td>1.95</td><td>1.99</td><td>-1.11</td></tr><tr><td>1,500</td><td>5/14/53</td><td>2/13/53</td><td>2.02</td><td>1.94</td><td>1.98</td><td>-1.09</td><td>1,201 2/</td><td>6/25/53</td><td>3/26/53</td><td>2.03</td><td>1.95</td><td>1.99</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>7/2/53</td><td>4/2/53</td><td>2.05</td><td>2.01</td><td>2.03</td><td>-</td></tr></table>
Footnotee at end of Section II.
Table 2.- Certificates of Indebtedness (Taxable)
(Price decimals are 32nds; prices quoted on a yield basis are in percent)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th rowspan="2">Issue date</th><th colspan="4">Price</th><th colspan="2">Yield</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To maturity</th><th>Change from last month</th></tr><tr><td>$4,963</td><td>1-7/8% - 6/1/53-B</td><td>7/1/52</td><td>1.86%</td><td>1.80%</td><td>1.83%</td><td>-.04%</td><td>-</td><td>-</td></tr><tr><td>2,882</td><td>2 - 8/15/53-C</td><td>8/15/52</td><td>2.02%</td><td>1.96%</td><td>1.99%</td><td>+0.9%</td><td>-</td><td>-</td></tr><tr><td>8,114</td><td>2-1/4 - 2/15/54-A 3/</td><td>2/15/53</td><td>100.02½</td><td>100.04</td><td>100.03¼</td><td>+0.01</td><td>2.13%</td><td>-0.02%</td></tr></table>
Footnote at end of Section II.
Table 3.- Other Taxable Issues
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="4">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range 4/</th><th colspan="4">Price range 4/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th colspan="2">Since first traded</th><th colspan="2">In 1952-53</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td>$10,542</td><td>Treasury notes:</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-01</td><td>2.08%</td><td>+04%</td><td>10/1/52</td><td>100.07</td><td>11/7/52</td><td>100.01</td><td>3/31/53</td><td>100.07</td><td>11/17/52</td><td>100.01</td><td>3/31/53</td></tr><tr><td>4,675</td><td>2-1/8 - 12/1/53-A</td><td>99.10</td><td>99.12</td><td>99.11</td><td>.00</td><td>2.07</td><td>+05</td><td>12/15/49</td><td>100.10</td><td>1/10/50</td><td>98.01</td><td>5/9/51</td><td>99.16</td><td>3/17/53</td><td>98.17</td><td>1/3/52</td></tr><tr><td>5,365</td><td>1-3/8 - 3/15/53-A</td><td>98.19</td><td>98.21</td><td>98.20</td><td>.00</td><td>2.22</td><td>+03</td><td>3/15/50</td><td>100.07</td><td>3/10/50</td><td>97.22</td><td>12/26/51</td><td>99.08</td><td>4/18/52</td><td>98.06</td><td>1/2/52</td></tr><tr><td>6,854</td><td>1-3/4 - 12/15/53-B</td><td>98.20</td><td>98.22</td><td>98.21</td><td>-02</td><td>2.26</td><td>+03</td><td>12/15/50</td><td>100.04</td><td>1/19/51</td><td>97.30</td><td>12/27/51</td><td>99.26</td><td>4/18/52</td><td>98.12</td><td>1/2/52</td></tr><tr><td>1,007</td><td>1-1/2 - 4/1/56-EA</td><td>97.28</td><td>98.02</td><td>97.31</td><td>-03</td><td>2.20</td><td>+05</td><td>4/1/51</td><td>98.28</td><td>5/26/52</td><td>97.20</td><td>1/21/52</td><td>98.28</td><td>5/26/52</td><td>97.20</td><td>1/21/52</td></tr><tr><td>550</td><td>1-1/2 - 10/1/56-20</td><td>97.18</td><td>97.24</td><td>97.21</td><td>-03</td><td>2.20</td><td>+04</td><td>10/1/51</td><td>98.24</td><td>5/26/52</td><td>97.12</td><td>1/21/52</td><td>98.24</td><td>5/26/52</td><td>97.12</td><td>1/21/52</td></tr><tr><td>531</td><td>1-1/2 - 4/1/57-EA</td><td>96.28</td><td>97.00</td><td>96.30</td><td>-12</td><td>2.31</td><td>+12</td><td>4/1/52</td><td>98.15</td><td>4/17/52</td><td>96.30</td><td>3/31/53</td><td>98.15</td><td>4/17/52</td><td>96.30</td><td>3/31/53</td></tr><tr><td>804</td><td>1-1/2 - 10/1/57-20</td><td>96.04</td><td>96.12</td><td>96.08</td><td>-24</td><td>2.38</td><td>+19</td><td>10/1/52</td><td>97.08</td><td>2/19/53</td><td>96.08</td><td>3/31/53</td><td>97.08</td><td>2/19/53</td><td>96.08</td><td>3/31/53</td></tr><tr><td>7,986</td><td>Treasury bonds - bank eligible:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>510</td><td>2% - 9/15/51-53 5/</td><td>99.31</td><td>100.00</td><td>99.31</td><td>-01</td><td>2.03</td><td>+09</td><td>9/15/43</td><td>104.18</td><td>3/11/46</td><td>99.19</td><td>12/26/51</td><td>100.08</td><td>4/16/52</td><td>99.30</td><td>12/26/52</td></tr><tr><td>5,825</td><td>2 - 12/15/51-55 6/</td><td>99.08</td><td>99.12</td><td>99.10</td><td>-01</td><td>2.26 1/</td><td>+02</td><td>12/15/41</td><td>104.26</td><td>3/11/46</td><td>99.08</td><td>1/14/53</td><td>100.06</td><td>4/23/52</td><td>99.08</td><td>1/14/53</td></tr><tr><td>1,501</td><td>2-1/4 - 6/15/52-54 6/</td><td>99.22</td><td>99.24</td><td>99.23</td><td>+01</td><td>2.24 1/</td><td>-01</td><td>6/26/44</td><td>104.27</td><td>2/18/46</td><td>99.12</td><td>12/27/51</td><td>100.08</td><td>4/24/52</td><td>99.16</td><td>12/24/52</td></tr><tr><td>8,662</td><td>2 - 12/15/52-54 6/</td><td>99.15</td><td>99.17</td><td>99.16</td><td>-02</td><td>2.30 1/</td><td>+05</td><td>2/25/42</td><td>106.08</td><td>2/9/46</td><td>99.27</td><td>3/26/53</td><td>100.18</td><td>3/18/52</td><td>99.27</td><td>3/26/53</td></tr><tr><td>1,449</td><td>2-1/2 - 3/15/56-58</td><td>99.29</td><td>100.01</td><td>99.31</td><td>-04</td><td>2.51 1/</td><td>-</td><td>6/2/41</td><td>110.22</td><td>2/8/46</td><td>99.28</td><td>3/26/53</td><td>102.01</td><td>4/18/52</td><td>99.28</td><td>3/26/53</td></tr><tr><td>3,822</td><td>2-1/4 - 9/15/56-59</td><td>98.09</td><td>98.13</td><td>98.11</td><td>-06</td><td>2.53 1/</td><td>+04</td><td>2/1/44</td><td>107.16</td><td>4/6/46</td><td>98.08</td><td>3/27/53</td><td>101.01</td><td>4/18/52</td><td>98.08</td><td>3/27/53</td></tr><tr><td>927</td><td>2-3/8 - 3/15/57-59</td><td>99.06</td><td>99.10</td><td>99.08</td><td>-12</td><td>2.51 1/</td><td>+07</td><td>3/1/52</td><td>101.18</td><td>4/18/52</td><td>99.06</td><td>3/26/53</td><td>101.18</td><td>4/18/52</td><td>99.06</td><td>3/26/53</td></tr><tr><td>4,245</td><td>2-3/8 - 6/15/58</td><td>99.06</td><td>99.10</td><td>99.08</td><td>-12</td><td>2.53</td><td>+08</td><td>7/1/52</td><td>100.16</td><td>7/1/52</td><td>99.06</td><td>3/21/53</td><td>100.16</td><td>7/1/52</td><td>99.06</td><td>3/21/53</td></tr><tr><td>620</td><td>2-1/2 - 12/15/58</td><td>99.22</td><td>99.26</td><td>99.24</td><td>-10</td><td>2.55</td><td>+06</td><td>2/15/53</td><td>100.07</td><td>2/13/53</td><td>99.22</td><td>3/26/53</td><td>100.07</td><td>2/13/53</td><td>99.22</td><td>3/26/51</td></tr><tr><td>5,280</td><td>2-1/4 - 6/15/59-62</td><td>96.01</td><td>96.05</td><td>96.03</td><td>-13</td><td>2.73 1/</td><td>+05</td><td>6/1/49</td><td>104.20</td><td>4/6/46</td><td>95.22</td><td>3/26/53</td><td>99.23</td><td>5/9/52</td><td>95.22</td><td>3/26/53</td></tr><tr><td>3,467</td><td>2-1/4 - 12/15/59-62</td><td>95.31</td><td>96.03</td><td>96.01</td><td>-15</td><td>2.72 1/</td><td>+06</td><td>11/15/45</td><td>104.21</td><td>4/6/46</td><td>95.20</td><td>3/26/53</td><td>99.17</td><td>5/9/52</td><td>95.20</td><td>3/26/53</td></tr><tr><td>2,117</td><td>2-1/2 - 6/15/62-67</td><td>96.03</td><td>96.07</td><td>96.05</td><td>-17</td><td>2.83 1/</td><td>+05</td><td>5/5/42</td><td>108.12</td><td>4/6/46</td><td>95.23</td><td>3/26/53</td><td>100.29</td><td>5/9/52</td><td>95.23</td><td>3/26/53</td></tr><tr><td>2,028</td><td>2-1/2 - 12/15/63-68</td><td>95.04</td><td>95.08</td><td>95.06</td><td>-20</td><td>2.88 1/</td><td>+05</td><td>12/1/42</td><td>108.03</td><td>4/6/46</td><td>94.25</td><td>3/26/53</td><td>99.31</td><td>5/9/52</td><td>94.25</td><td>3/26/53</td></tr><tr><td>2,716</td><td>2-1/2 - 9/15/67-72 8/</td><td>93.14</td><td>93.18</td><td>93.16</td><td>-100</td><td>2.94 1/</td><td>+07</td><td>10/20/41</td><td>109.18</td><td>4/6/46</td><td>93.12</td><td>3/26/53</td><td>99.14</td><td>5/12/52</td><td>93.12</td><td>3/26/53</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
May 1955
43
MARKET QUOTATIONS, MARCH 31, 1953
Section 1
Securities Issued or Guaranteed by the United States Government
Table 3.- Other Taxable Issues - (Continued)
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="4">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range ½</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th colspan="2">Since first traded</th><th colspan="2">In 1952-53</th></tr><tr><th></th><th></th><th colspan="4"></th><th></th><th></th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td colspan="2">Treasury bonds - bank restricted; 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$3,757</td><td>2-1/2 - 6/15/64-69</td><td>94.16</td><td>94.20</td><td>94.18</td><td>-.22</td><td>2.92%</td><td>1/ +.05%</td><td>4/15/43</td><td>107.25</td><td>4/6/46</td><td>94.06</td><td>3/26/53</td><td>99.16</td><td>5/12/52</td><td>94.06</td><td>3/26/53</td></tr><tr><td>3,833</td><td>2-1/2 - 12/15/64-69</td><td>94.14</td><td>94.18</td><td>94.16</td><td>-.22</td><td>2.92%</td><td>1/ +.06</td><td>9/15/43</td><td>107.24</td><td>4/6/46</td><td>94.02</td><td>3/26/53</td><td>99.10</td><td>5/12/52</td><td>94.02</td><td>3/26/53</td></tr><tr><td>4,724</td><td>2-1/2 - 3/15/65-70 8/</td><td>94.02</td><td>94.06</td><td>94.04</td><td>-.21</td><td>2.94%</td><td>1/ +.05</td><td>2/1/44</td><td>107.23</td><td>4/6/46</td><td>93.22</td><td>3/26/53</td><td>99.05</td><td>5/12/52</td><td>93.22</td><td>3/26/53</td></tr><tr><td>2,966</td><td>2-1/2 - 3/15/66-71 8/</td><td>93.26</td><td>93.30</td><td>93.28</td><td>-.24</td><td>2.94%</td><td>1/ +.06</td><td>12/1/44</td><td>107.22</td><td>4/6/46</td><td>93.16</td><td>3/26/53</td><td>99.05</td><td>5/12/52</td><td>93.16</td><td>3/26/53</td></tr><tr><td>1,895</td><td>2-1/2 - 6/15/67-72 8/</td><td>93.14</td><td>93.18</td><td>93.16</td><td>-.28</td><td>2.95%</td><td>1/ +.07</td><td>6/1/45</td><td>106.16</td><td>4/6/46</td><td>93.12</td><td>3/26/53</td><td>99.05</td><td>5/9/52</td><td>93.12</td><td>3/26/53</td></tr><tr><td>3,834</td><td>2-1/2 - 12/15/67-72 8/</td><td>93.14</td><td>93.18</td><td>93.16</td><td>-.27</td><td>2.94%</td><td>1/ +.06</td><td>11/15/45</td><td>106.16</td><td>4/6/46</td><td>93.12</td><td>3/26/53</td><td>99.05</td><td>5/9/52</td><td>93.12</td><td>3/26/53</td></tr></table>
Footnotes at end of Section II.
Table
4. Tax-Exempt Bonds
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="3">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range 4/</th><th colspan="4"></th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th colspan="2">Since first traded</th><th colspan="2">In 1952-53</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>High</th><th>Date</th><th>Low</th><th>Date</th><th>High</th><th>Date</th><th>Low</th><th>Date</th></tr><tr><td>$725</td><td>Treasury bonds - bank eligible:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>Price</td><td></td><td>Price</td><td></td><td>Price</td><td></td><td>Price</td><td></td></tr><tr><td>681</td><td>2-1/4 - 6/15/53-55 11/100.03</td><td>100.05</td><td>100.04</td><td>-.03</td><td>1.30%</td><td>+1.15%</td><td>10/7/40</td><td>107.25</td><td>1/12/46</td><td>100.04</td><td>3/31/53</td><td>101.10</td><td>4/3/52</td><td>100.04</td><td>3/31/53</td></tr><tr><td>2,611</td><td>2-7/8 - 6/15/54-56 100.26</td><td>100.30</td><td>100.28</td><td>-.08</td><td>1.51</td><td>+1.14</td><td>7/22/40</td><td>109.29</td><td>3/12/46</td><td>100.28</td><td>3/31/53</td><td>102.23</td><td>4/23/52</td><td>100.28</td><td>3/31/53</td></tr><tr><td>982</td><td>2-3/4 - 3/15/55-56 102.10</td><td>102.14</td><td>102.12</td><td>-.09</td><td>1.63</td><td>+1.09</td><td>3/15/35</td><td>116.02</td><td>1/12/46</td><td>98.30</td><td>9/20/35</td><td>105.09</td><td>4/17/52</td><td>102.12</td><td>3/31/53</td></tr><tr><td>919</td><td>2-3/4 - 9/15/56-59 103.18</td><td>103.22</td><td>103.20</td><td>-.08</td><td>1.67</td><td>+1.05</td><td>9/15/36</td><td>116.13</td><td>1/26/46</td><td>98.10</td><td>4/1/37</td><td>107.00</td><td>5/1/52</td><td>103.20</td><td>3/31/53</td></tr><tr><td>1,485</td><td>2-3/4 - 6/15/58-63 105.10</td><td>105.14</td><td>105.12</td><td>-.04</td><td>1.67</td><td>+1.01</td><td>6/15/38</td><td>117.04</td><td>1/15/46</td><td>99.15</td><td>9/25/39</td><td>108.27</td><td>4/17/52</td><td>105.10</td><td>1/19/53</td></tr><tr><td></td><td>2-3/4 - 12/15/60-65 106.12</td><td>106.18</td><td>106.15</td><td>-.11</td><td>1.85</td><td>+1.04</td><td>12/15/38</td><td>119.00</td><td>1/25/46</td><td>99.14</td><td>9/25/39</td><td>111.06</td><td>4/29/52</td><td>106.15</td><td>3/31/53</td></tr><tr><td>50</td><td>Panama Canal bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3%</td><td>6/1/61 114.16</td><td>115.16</td><td>115.00</td><td>-.08</td><td>1.08</td><td>+1.01</td><td>6/1/11</td><td>134.00</td><td>9/5/44</td><td>75.00</td><td>6/18/21</td><td>116.28</td><td>5/21/52</td><td>115.00</td><td>3/31/53</td></tr></table>
Footnotes at end of Section II.
Section II - Sec
urities Issued by Federal Agencies but not Guaranteed by the United States Government
Table 1.- Federal Intermediate Credit Bank Issues: Debentures (Taxable)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th rowspan="2">Issue date</th><th colspan="4">Yield</th><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th rowspan="2">Issue date</th><th colspan="4">Yield</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th></tr><tr><td>$82</td><td>2.05% - 4/1/53</td><td>7/1/52</td><td>12/</td><td>12/</td><td>12/</td><td>-</td><td>$72</td><td>2-1/4% - 9/1/53</td><td>12/1/52</td><td>2.35%</td><td>2.20%</td><td>2.28%</td><td>.00%</td></tr><tr><td>65</td><td>2.20 - 5/1/53</td><td>8/1/52</td><td>2.30%</td><td>2.05%</td><td>2.18%</td><td>+0.00%</td><td>83</td><td>2-3/8 - 10/1/53</td><td>1/2/53</td><td>2.35</td><td>2.20</td><td>2.28</td><td>-.04</td></tr><tr><td>66</td><td>2.30 - 6/1/53</td><td>9/2/52</td><td>2.35</td><td>2.10</td><td>2.22</td><td>+0.02</td><td>103</td><td>2.35 - 11/2/53</td><td>2/2/53</td><td>2.35</td><td>2.25</td><td>2.30</td><td>-.02</td></tr><tr><td>79</td><td>2.30 - 7/1/53</td><td>10/1/52</td><td>2.35</td><td>2.10</td><td>2.22</td><td>+0.02</td><td>94</td><td>2.30 - 12/1/53</td><td>3/2/53</td><td>2.35</td><td>2.25</td><td>2.30</td><td>-.02</td></tr><tr><td>72</td><td>2-1/4 - 8/3/53</td><td>11/3/52</td><td>2.35</td><td>2.15</td><td>2.25</td><td>+0.03</td><td>13/</td><td>2.30 - 1/4/54</td><td>4/1/53</td><td>2.40</td><td>2.25</td><td>2.32</td><td>-</td></tr></table>
Footnotes at end of this section.
44
Treasury Bulletin
MARKET QUOTATIONS, MARCH 31, 1953
Section II - Securities Issued by Federal Agencies but not Guaranteed by the United States Government
Table 2.- Other Issues (Taxable)
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="3">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range 4/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th colspan="2">Since first traded</th><th colspan="2">In 1952-53</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td colspan="3">Central Bank for Cooperatives debentures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$40</td><td>2-1/8% - 6/1/53</td><td>99.28</td><td>100.00</td><td>99.30</td><td>-.01</td><td>2.47%</td><td>6/2/52</td><td>100.00</td><td>5/28/52</td><td>99.27</td><td>12/26/52</td><td>100.00</td><td>5/28/52</td><td>99.27</td><td>12/26/52</td></tr><tr><td>40</td><td>2-1/2 - 2/1/54</td><td>99.28</td><td>100.00</td><td>99.30</td><td>.00</td><td>2.58</td><td>10/1/51</td><td>100.13</td><td>5/8/52</td><td>99.24</td><td>12/28/51</td><td>100.13</td><td>5/8/52</td><td>99.26</td><td>1/27/53</td></tr><tr><td>30</td><td>2-5/8 - 6/1/54</td><td>99.28</td><td>100.02</td><td>99.31</td><td>.01</td><td>2.65</td><td>2/2/53</td><td>100.01</td><td>3/13/53</td><td>99.27</td><td>2/4/53</td><td>100.01</td><td>3/13/53</td><td>99.27</td><td>2/4/53</td></tr><tr><td colspan="3">Federal Home Loan Bank notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>76</td><td>2.30% - 4/15/53-c</td><td>100.00</td><td>100.02</td><td>100.01</td><td>.00</td><td>1.50</td><td>8/15/52</td><td>100.02</td><td>11/10/52</td><td>99.31¼</td><td>1/27/53</td><td>100.02</td><td>11/10/52</td><td>99.31¼</td><td>1/27/53</td></tr><tr><td>90</td><td>2.20 - 5/15/53-d</td><td>99.31</td><td>100.02</td><td>100.00¼</td><td>.00</td><td>2.08</td><td>11/17/52</td><td>100.01</td><td>2/25/53</td><td>99.30¼</td><td>1/2/53</td><td>100.01</td><td>2/25/53</td><td>99.30¼</td><td>1/2/53</td></tr><tr><td>140</td><td>2.30 - 8/17/53-e</td><td>99.31</td><td>100.02</td><td>100.00½</td><td>.00</td><td>2.24</td><td>11/17/52</td><td>100.01</td><td>2/25/53</td><td>99.30½</td><td>1/26/53</td><td>100.01</td><td>2/25/53</td><td>99.30½</td><td>1/26/53</td></tr><tr><td colspan="3">Federal Land Bank bonds: 14/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>114</td><td>2-1/4% - 2/1/53-55 15/</td><td>99.06</td><td>99.12</td><td>99.09</td><td>.01</td><td>2.65 7/</td><td>2/1/45</td><td>105.31</td><td>3/12/46</td><td>99.00</td><td>12/26/52</td><td>100.04</td><td>5/28/52</td><td>99.00</td><td>12/26/52</td></tr><tr><td>71</td><td>2-1/2 - 11/1/54</td><td>99.22</td><td>99.28</td><td>99.25</td><td>-.02</td><td>2.64</td><td>11/1/51</td><td>100.24</td><td>4/21/52</td><td>99.21</td><td>12/28/51</td><td>100.24</td><td>4/21/52</td><td>99.24</td><td>12/10/52</td></tr><tr><td>100</td><td>2-1/2 - 11/1/54</td><td>99.22</td><td>99.28</td><td>99.25</td><td>-.02</td><td>2.64</td><td>1/2/53</td><td>99.31</td><td>12/23/52</td><td>99.25</td><td>3/31/53</td><td>99.31</td><td>12/23/52</td><td>99.25</td><td>3/31/53</td></tr><tr><td>215</td><td>1-3/4 - 10/1/55-57</td><td>95.14</td><td>95.20</td><td>95.17</td><td>-.03</td><td>2.81 7/</td><td>10/1/49</td><td>100.12</td><td>9/22/49</td><td>94.26</td><td>12/28/51</td><td>97.05</td><td>5/27/52</td><td>94.30</td><td>1/2/52</td></tr><tr><td>230</td><td>2-5/8 - 5/1/56</td><td>99.08</td><td>99.16</td><td>99.12</td><td>-.08</td><td>2.84</td><td>5/1/52</td><td>100.17</td><td>5/19/52</td><td>99.12</td><td>3/31/53</td><td>100.17</td><td>5/19/52</td><td>99.12</td><td>3/31/53</td></tr><tr><td>132</td><td>2-3/4 - 5/1/58</td><td>98.28</td><td>99.04</td><td>99.00</td><td>.02</td><td>2.96</td><td>1/2/53</td><td>99.16</td><td>12/11/52</td><td>98.30</td><td>3/5/53</td><td>99.16</td><td>12/11/52</td><td>98.30</td><td>3/5/53</td></tr></table>
1/ Tax Anticipation Series.
2/ Amount issued on April 2, 1953, was $1,201 million.
3/ Quoted on a price basis beginning February 2, 1953.
4/ Prices are the mean of closing bid and ask quotations in the over-the-counter market, except that prices of Treasury bonds for the period prior to October 1, 1939, are closing prices on the New York Stock Exchange. "When issued" prices are included in history beginning October 1, 1939. Dates of high and lows in case of recurrence are the latest dates.
5/ Not called for redemption on March 15, 1953. Will mature on September 15, 1953.
6/ Not called for redemption on June 15, 1953. Callable on four months' notice on December 15, 1953.
7/ Yield to maturity. Market convention treats the yield to earliest call date as more significant when an issue is selling above par; the yield
8/ maturity as more significant when an issue is selling at or below par. Included in the average yield of long-term taxable Treasury bonds as shown under "Yields of Treasury and Corporate Bonds".
9/ For definition, see "Debt Outstanding", Table 3, footnote 1.
10/ All partially tax-exempt except Panama Canal bonds, which are wholly tax-exempt.
11/ Called on February 13, 1953, for redemption on June 15, 1953.
12/ Not quoted on March 31, 1953.
13/ Amount issued on April 1, 1953, was $105 million.
14/ Excludes issues completely held by Farm Credit Administration agencies. The proprietary interest of the United States in the Federal land banks ended on June 26, 1947.
15/ Not called for redemption on February 1, 1953. Callable on 15 days' notice on August 1, 1953.
May 1955
45
MARKET QUOTATIONS, MARCH 31, 1953.
YIELDS OF TAXABLE TREASURY SECURITIES, MAR. 31,1953
Based on Mean of Closing Bid and Ask Quotations
Explanation: The points represent yields to call when prices are above par, and to maturity date when prices are at par or below. The smooth curves for the various classes of points are fitted by eye. Issues for which an exchange offer has been made or which are due or callable in less than 3 months are excluded
46
Treasury Bulletin
YIELDS OF TREASURY AND CORPORATE BONDS
Table 1.- Average Yields of Long-Term Bonds by Periods
(Percent per annum)
<table><tr><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th></tr><tr><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th></tr><tr><td colspan="13">Annual series - calendar year averages of monthly series</td></tr><tr><td>1935</td><td>2.79</td><td>-</td><td>3.46</td><td>1941</td><td>2.05</td><td>-</td><td>2.67</td><td>1947</td><td>-</td><td>2.25</td><td>2.57</td></tr><tr><td>1936</td><td>2.69</td><td>-</td><td>3.19</td><td>1942</td><td>2.09</td><td>2.46</td><td>2.75</td><td>1948</td><td>-</td><td>2.44</td><td>2.81</td></tr><tr><td>1937</td><td>2.74</td><td>-</td><td>3.27</td><td>1943</td><td>1.98</td><td>2.47</td><td>2.64</td><td>1949</td><td>-</td><td>2.31</td><td>2.65</td></tr><tr><td>1938</td><td>2.61</td><td>-</td><td>3.12</td><td>1944</td><td>1.92</td><td>2.48</td><td>2.60</td><td>1950</td><td>-</td><td>2.32</td><td>2.60</td></tr><tr><td>1939</td><td>2.41</td><td>-</td><td>2.92</td><td>1945</td><td>1.66 1/</td><td>2.37</td><td>2.54</td><td>1951</td><td>-</td><td>2.57</td><td>2.86</td></tr><tr><td>1940</td><td>2.26</td><td>-</td><td>2.77</td><td>1946</td><td>-</td><td>2.19</td><td>2.44</td><td>1952</td><td>-</td><td>2.68</td><td>2.96</td></tr></table>
Monthly series - average of daily series
<table><tr><td>1948-Jan......</td><td>-</td><td>2.45</td><td>2.85</td><td>1950-Jan......</td><td>-</td><td>2.20</td><td>2.5h</td><td>1952-Jan......</td><td>-</td><td>2.74</td><td>2.96</td></tr><tr><td>Feb......</td><td>-</td><td>2.45</td><td>2.84</td><td>Feb......</td><td>-</td><td>2.24</td><td>2.5h</td><td>Feb......</td><td>-</td><td>2.71</td><td>2.89</td></tr><tr><td>Mar......</td><td>-</td><td>2.44</td><td>2.81</td><td>Mar......</td><td>-</td><td>2.27</td><td>2.55</td><td>Mar......</td><td>-</td><td>2.70</td><td>2.96</td></tr><tr><td>Apr......</td><td>-</td><td>2.44</td><td>2.77</td><td>Apr......</td><td>-</td><td>2.30</td><td>2.57</td><td>Apr......</td><td>-</td><td>2.64 1/</td><td>2.92</td></tr><tr><td>May......</td><td>-</td><td>2.42</td><td>2.74</td><td>May......</td><td>-</td><td>2.31</td><td>2.57</td><td>May......</td><td>-</td><td>2.57</td><td>2.93</td></tr><tr><td>June......</td><td>-</td><td>2.41</td><td>2.73</td><td>June......</td><td>-</td><td>2.33</td><td>2.59</td><td>June......</td><td>-</td><td>2.61</td><td>2.95</td></tr><tr><td>July......</td><td>-</td><td>2.44</td><td>2.80</td><td>July......</td><td>-</td><td>2.34</td><td>2.61</td><td>July......</td><td>-</td><td>2.61</td><td>2.96</td></tr><tr><td>Aug......</td><td>-</td><td>2.45</td><td>2.86</td><td>Aug......</td><td>-</td><td>2.33</td><td>2.58</td><td>Aug......</td><td>-</td><td>2.70</td><td>2.97</td></tr><tr><td>Sept......</td><td>-</td><td>2.45</td><td>2.85</td><td>Sept......</td><td>-</td><td>2.36</td><td>2.62</td><td>Sept......</td><td>-</td><td>2.71</td><td>2.98</td></tr><tr><td>Oct......</td><td>-</td><td>2.45</td><td>2.85</td><td>Oct......</td><td>-</td><td>2.38</td><td>2.65 3/</td><td>Oct......</td><td>-</td><td>2.74</td><td>3.04</td></tr><tr><td>Nov......</td><td>-</td><td>2.44</td><td>2.86</td><td>Nov......</td><td>-</td><td>2.38</td><td>2.66</td><td>Nov......</td><td>-</td><td>2.71</td><td>2.98</td></tr><tr><td>Dec......</td><td>-</td><td>2.44</td><td>2.81</td><td>Dec......</td><td>-</td><td>2.39</td><td>2.66</td><td>Dec......</td><td>-</td><td>2.75</td><td>2.99</td></tr><tr><td>1949-Jan......</td><td>-</td><td>2.42</td><td>2.73</td><td>1951-Jan......</td><td>-</td><td>2.39</td><td>2.64</td><td>1953-Jan......</td><td>-</td><td>2.80</td><td>3.06</td></tr><tr><td>Feb......</td><td>-</td><td>2.39</td><td>2.73</td><td>Feb......</td><td>-</td><td>2.40</td><td>2.66</td><td>Feb......</td><td>-</td><td>2.83</td><td>3.11</td></tr><tr><td>Mar......</td><td>-</td><td>2.38</td><td>2.71</td><td>Mar......</td><td>-</td><td>2.47</td><td>2.78</td><td>Mar......</td><td>-</td><td>2.89</td><td>3.16</td></tr><tr><td>Apr......</td><td>-</td><td>2.38</td><td>2.70</td><td>Apr......</td><td>-</td><td>2.56</td><td>2.88</td><td></td><td></td><td></td><td></td></tr><tr><td>May......</td><td>-</td><td>2.38</td><td>2.71</td><td>May......</td><td>-</td><td>2.63</td><td>2.89</td><td></td><td></td><td></td><td></td></tr><tr><td>June......</td><td>-</td><td>2.38</td><td>2.72</td><td>June......</td><td>-</td><td>2.65</td><td>2.95</td><td></td><td></td><td></td><td></td></tr><tr><td>July......</td><td>-</td><td>2.27</td><td>2.66</td><td>July......</td><td>-</td><td>2.63</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug......</td><td>-</td><td>2.24</td><td>2.60</td><td>Aug......</td><td>-</td><td>2.57</td><td>2.86</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept......</td><td>-</td><td>2.22</td><td>2.59</td><td>Sept......</td><td>-</td><td>2.56</td><td>2.85</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct......</td><td>-</td><td>2.22</td><td>2.59</td><td>Oct......</td><td>-</td><td>2.61</td><td>2.92</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov......</td><td>-</td><td>2.20</td><td>2.56</td><td>Nov......</td><td>-</td><td>2.66</td><td>2.98</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec......</td><td>-</td><td>2.19</td><td>2.55 2/</td><td>Dec......</td><td>-</td><td>2.70</td><td>3.03</td><td></td><td></td><td></td><td></td></tr></table>
Weekly series - averages of daily series for weeks ending
<table><tr><td>1952-Oct. 3......</td><td>-</td><td>2.78</td><td>3.02</td><td>1952-Dec. 5....</td><td>-</td><td>2.72</td><td>2.96</td><td>1953-Feb. 6.....</td><td>-</td><td>2.81</td><td>3.09</td></tr><tr><td>10......</td><td>-</td><td>2.76</td><td>3.04</td><td>12....</td><td>-</td><td>2.72</td><td>2.98</td><td>13.....</td><td>-</td><td>2.81</td><td>3.11</td></tr><tr><td>17......</td><td>-</td><td>2.75</td><td>3.06</td><td>19....</td><td>-</td><td>2.76</td><td>3.00</td><td>20.....</td><td>-</td><td>2.82</td><td>3.12</td></tr><tr><td>24......</td><td>-</td><td>2.73</td><td>3.05</td><td>26....</td><td>-</td><td>2.79.</td><td>3.02</td><td>27.....</td><td>-</td><td>2.88</td><td>3.13</td></tr><tr><td>31......</td><td>-</td><td>2.71</td><td>3.02</td><td>1953-Jan. 2....</td><td>-</td><td>2.80</td><td>3.03</td><td>Mar. 6.....</td><td>-</td><td>2.87</td><td>3.15</td></tr><tr><td>Nov. 7......</td><td>-</td><td>2.69</td><td>3.00</td><td>9.....</td><td>-</td><td>2.79</td><td>3.03</td><td>13.....</td><td>-</td><td>2.87</td><td>3.14</td></tr><tr><td>14......</td><td>-</td><td>2.71</td><td>2.98</td><td>16....</td><td>-</td><td>2.80</td><td>3.07</td><td>20.....</td><td>-</td><td>2.88</td><td>3.14</td></tr><tr><td>21......</td><td>-</td><td>2.71</td><td>2.97</td><td>23....</td><td>-</td><td>2.80</td><td>3.06</td><td>27.....</td><td>-</td><td>2.94</td><td>3.18</td></tr><tr><td>28......</td><td>-</td><td>2.71</td><td>2.96</td><td>30....</td><td>-</td><td>2.80</td><td>3.07</td><td></td><td></td><td></td><td></td></tr></table>
Daily series - unweighted averages
<table><tr><td>1953-Mar.</td><td>2......</td><td>-</td><td>2.88</td><td>3.16</td><td>1953-Mar. 12....</td><td>-</td><td>2.88</td><td>3.14</td><td>1953-Mar. 23....</td><td>-</td><td>2.92</td><td>3.14</td></tr><tr><td>3......</td><td>-</td><td>2.87</td><td>3.15</td><td></td><td>13....</td><td>-</td><td>2.88</td><td>3.14</td><td>24....</td><td>-</td><td>2.92</td><td>3.16</td></tr><tr><td>4......</td><td>-</td><td>2.86</td><td>3.15</td><td></td><td></td><td>-</td><td></td><td></td><td>25....</td><td>-</td><td>2.93</td><td>3.19</td></tr><tr><td>5......</td><td>-</td><td>2.86</td><td>3.15</td><td></td><td>16....</td><td>-</td><td>2.87</td><td>3.15</td><td>26....</td><td>-</td><td>2.96</td><td>3.19</td></tr><tr><td>6......</td><td>-</td><td>2.87</td><td>3.14</td><td></td><td>17....</td><td>-</td><td>2.87</td><td>3.15</td><td>27....</td><td>-</td><td>2.95</td><td>3.21</td></tr><tr><td>9......</td><td>-</td><td>2.87</td><td>3.14</td><td></td><td>18....</td><td>-</td><td>2.88</td><td>3.14</td><td></td><td></td><td></td><td></td></tr><tr><td>10......</td><td>-</td><td>2.87</td><td>3.14</td><td></td><td>19....</td><td>-</td><td>2.89</td><td>3.14</td><td>30....</td><td>-</td><td>2.92</td><td>3.22</td></tr><tr><td>11......</td><td>-</td><td>2.87</td><td>3.14</td><td></td><td>20....</td><td>-</td><td>2.91</td><td>3.14</td><td>31....</td><td>-</td><td>2.94</td><td>3.22</td></tr></table>
Note: Treasury bonds included in the averages, beginning April 1952, are those neither due nor callable for twelve years. The minimum length of the bonds included was 15 years from December 1935 through March 1952, and 12 years prior to December 1935 for the period shown in this table. For a discussion of the composition of these Treasury bond averages, see "Treasury Bulletin" for March 1944, page 58; for the composition of the high-grade corporate bond average, see the "Treasury Bulletin" for July 1947, page 59, and January 1945, page 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, 1941. 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 issues 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 American Stock Exchange (formerly New York Curb Exchange); on days when an issue does not sell, the price of the last preceding sale is used.
1/ For definition of taxable and partially tax-exempt bonds, see footnotes to the "Treasury Survey of Ownership" in this issues of the "Treasury Bulletin". The partially tax-exempt average was discontinued on December 15, 1945, because they were no longer any bonds in this category with fifteen or more years to maturity or first call.
2/ As of December 21, 1949, the Consolidated Gas Electric Light and Power Company of Baltimore 2-3/4's of 1981 were dropped from the average, having been called.
3/ As of October 20, 1950, the Standard Oil Company of California 2-3/4's of 1965-66 were dropped from the average, having been called.
4/ The long-term taxable Treasury bond average was revised beginning April 1, 1952 (see "Note"). The old average for April 1952 was 2.62 percent.
May 1953
47
YIELDS OF TREASURY AND CORPORATE BONDS
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS Monthly Series 1933 1944 1945 1946 1947 1948 1949 1950 1951 1952
Office of the Secretary of the Treasury
F-220-K
48
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
Table 1.-
mmary by Principal Sources
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Total receipts from internal revenue (Daily Treasury Statement)</th><th>Adjustment of collections to Daily Treasury Statement</th><th>Total internal revenue collections</th><th>Corporation income and profit taxes 2/</th><th>Total</th><th>Individual income tax not withheld 3/</th><th>Individual income tax withheld 4/</th><th>Old-age insurance taxes 5/</th><th>Railroad retirement</th><th>Unemployment insurance</th></tr><tr><td>1942</td><td>12,993,118</td><td>-36,797</td><td>13,029,915</td><td>4,744,083</td><td>4,448,162</td><td>3,262,300</td><td>-</td><td>395,336</td><td>170,409</td><td>119,617</td></tr><tr><td>1943</td><td>22,143,969</td><td>-224,755</td><td>22,368,724</td><td>9,668,956</td><td>8,128,637</td><td>5,943,917</td><td>686,015</td><td>1,131,546</td><td>211,151</td><td>156,008</td></tr><tr><td>1944</td><td>41,684,987</td><td>+1,565,477</td><td>40,119,510</td><td>14,766,796</td><td>19,999,378</td><td>10,337,570</td><td>7,823,435</td><td>1,290,025</td><td>265,011</td><td>183,337</td></tr><tr><td>1945</td><td>43,902,002</td><td>+101,664</td><td>43,800,338</td><td>16,027,213</td><td>20,813,491</td><td>8,770,094</td><td>10,264,219</td><td>1,307,931</td><td>284,758</td><td>186,489</td></tr><tr><td>1946</td><td>40,310,333</td><td>-361,589</td><td>40,671,922</td><td>12,553,602</td><td>20,405,364</td><td>8,846,947</td><td>9,857,589</td><td>1,237,825</td><td>284,258</td><td>178,745</td></tr><tr><td>1947</td><td>39,379,409</td><td>+271,136</td><td>39,108,273</td><td>9,676,757</td><td>21,367,662</td><td>9,501,015</td><td>9,842,282</td><td>1,458,934</td><td>379,555</td><td>185,876</td></tr><tr><td>1948</td><td>41,853,485</td><td>-11,051</td><td>41,864,536</td><td>10,174,410</td><td>23,379,123</td><td>9,464,204</td><td>11,533,577</td><td>1,612,721</td><td>560,113</td><td>203,508</td></tr><tr><td>1949</td><td>40,307,285</td><td>-155,834</td><td>40,463,119</td><td>11,553,669</td><td>20,527,935</td><td>7,996,320</td><td>10,055,502</td><td>1,687,151</td><td>562,734</td><td>226,228</td></tr><tr><td>1950</td><td>39,448,607</td><td>+491,482</td><td>38,957,126</td><td>10,854,351</td><td>19,797,883</td><td>7,264,332</td><td>9,888,976</td><td>1,873,401</td><td>548,038</td><td>223,135</td></tr><tr><td>1951</td><td>51,106,095</td><td>+660,409</td><td>50,445,686</td><td>14,387,569</td><td>26,624,788</td><td>9,907,539</td><td>13,089,769</td><td>2,810,750</td><td>579,778</td><td>236,952</td></tr><tr><td>1952</td><td>65,634,894</td><td>+625,502</td><td>65,009,393</td><td>21,466,910</td><td>33,738,370</td><td>11,345,060</td><td>17,929,047</td><td>3,504,026</td><td>620,622</td><td>259,616</td></tr><tr><td>1952-July</td><td>3,413,233</td><td>-430,755</td><td>3,843,988</td><td>957,770</td><td>1,939,176</td><td>393,125</td><td>1,538,781</td><td>-</td><td>3,026</td><td>4,243</td></tr><tr><td>August</td><td>4,408,351</td><td>-988,280</td><td>5,396,631</td><td>356,938</td><td>4,190,037</td><td>93,368</td><td>4,012,275</td><td>-</td><td>69,755</td><td>14,639</td></tr><tr><td>September</td><td>6,710,598</td><td>+1,432,218</td><td>5,278,300</td><td>2,441,771</td><td>1,969,674</td><td>1,652,593</td><td>231,744</td><td>-</td><td>84,574</td><td>763</td></tr><tr><td>October</td><td>3,150,106</td><td>-550,741</td><td>3,700,847</td><td>927,471</td><td>1,805,486</td><td>164,390</td><td>1,633,657</td><td>-</td><td>3,290</td><td>4,147</td></tr><tr><td>November</td><td>4,512,766</td><td>-833,043</td><td>5,345,808</td><td>352,262</td><td>4,148,417</td><td>108,607</td><td>3,967,879</td><td>-</td><td>58,282</td><td>13,649</td></tr><tr><td>December</td><td>5,962,982</td><td>+1,595,082</td><td>4,367,900</td><td>2,789,165</td><td>642,652</td><td>357,574</td><td>190,064</td><td>-</td><td>94,209</td><td>806</td></tr><tr><td>1953-January</td><td>4,972,366</td><td>-405,912</td><td>5,378,278</td><td>501,195</td><td>4,039,683</td><td>2,854,566</td><td>1,144,150</td><td>-</td><td>4,288</td><td>36,679</td></tr><tr><td>February</td><td>6,150,309</td><td>-1,163,657</td><td>7,313,965</td><td>404,452</td><td>6,063,004</td><td>839,012</td><td>4,990,091</td><td>-</td><td>67,158</td><td>166,743</td></tr><tr><td>March</td><td>11,712,444</td><td>+1,437,829</td><td>10,274,615</td><td>6,171,089</td><td>3,125,463</td><td>2,698,047</td><td>327,686</td><td>-</td><td>91,058</td><td>8,672</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total miscellaneous internal revenue</th><th>Capital stock tax 2/</th><th>Estate and gift taxes</th><th>Liquor taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>Manufacturers' and retailers' excise taxes</th><th>Miscellaneous taxes</th></tr><tr><td>1942</td><td>3,837,670</td><td>281,900</td><td>432,540</td><td>1,048,165</td><td>700,792</td><td>41,702</td><td>852,065</td><td>400,505</td></tr><tr><td>1943</td><td>4,571,131</td><td>328,795</td><td>447,496</td><td>1,423,480</td><td>923,857</td><td>45,155</td><td>670,012</td><td>732,335</td></tr><tr><td>1944</td><td>5,353,336</td><td>380,702</td><td>511,210</td><td>1,618,045</td><td>988,463</td><td>50,800</td><td>728,694</td><td>1,075,402</td></tr><tr><td>1945</td><td>6,999,634</td><td>371,999</td><td>643,055</td><td>2,309,864</td><td>932,145</td><td>65,528</td><td>1,206,616</td><td>1,430,428</td></tr><tr><td>1946</td><td>7,712,956</td><td>352,121</td><td>676,832</td><td>2,526,162</td><td>1,165,519</td><td>87,676</td><td>1,414,717</td><td>1,489,929</td></tr><tr><td>1947</td><td>8,063,854</td><td>1,597</td><td>779,291</td><td>2,474,756</td><td>1,237,768</td><td>79,978</td><td>1,939,621</td><td>1,550,842</td></tr><tr><td>1948</td><td>8,311,003</td><td>1,723</td><td>899,345</td><td>2,255,320</td><td>1,300,280</td><td>79,466</td><td>2,119,157</td><td>1,655,711</td></tr><tr><td>1949</td><td>8,381,515</td><td>6,138</td><td>796,538</td><td>2,210,601</td><td>1,321,875</td><td>72,828</td><td>2,220,744</td><td>1,752,792</td></tr><tr><td>1950</td><td>8,304,892</td><td>266</td><td>706,226</td><td>2,219,196</td><td>1,328,464</td><td>84,648</td><td>2,245,182</td><td>1,720,908</td></tr><tr><td>1951</td><td>9,433,328</td><td>-</td><td>729,730</td><td>2,546,607</td><td>1,330,396</td><td>93,107</td><td>2,840,690</td><td>1,842,598</td></tr><tr><td>1952</td><td>9,804,112</td><td>-</td><td>833,147</td><td>2,549,088</td><td>1,565,162</td><td>84,995</td><td>2,824,444</td><td>1,947,276</td></tr><tr><td>1952-July</td><td>947,042</td><td>-</td><td>83,553</td><td>245,539</td><td>140,304</td><td>5,989</td><td>267,765</td><td>203,892</td></tr><tr><td>August</td><td>849,655</td><td>-</td><td>69,801</td><td>205,189</td><td>149,133</td><td>6,333</td><td>252,931</td><td>166,268</td></tr><tr><td>September</td><td>866,935</td><td>-</td><td>58,982</td><td>257,502</td><td>147,064</td><td>10,676</td><td>223,340</td><td>169,371</td></tr><tr><td>October</td><td>967,801</td><td>-</td><td>56,634</td><td>289,051</td><td>156,530</td><td>5,752</td><td>248,432</td><td>215,492</td></tr><tr><td>November</td><td>845,129</td><td>-</td><td>50,519</td><td>268,539</td><td>127,176</td><td>10,626</td><td>267,606</td><td>120,663</td></tr><tr><td>December</td><td>940,083</td><td>-</td><td>70,181</td><td>220,197</td><td>124,808</td><td>5,812</td><td>312,925</td><td>206,161</td></tr><tr><td>1953-January</td><td>837,400</td><td>-</td><td>76,922</td><td>187,958</td><td>135,729</td><td>6,237</td><td>282,730</td><td>147,825</td></tr><tr><td>February</td><td>846,509</td><td>-</td><td>64,830</td><td>185,596</td><td>132,569</td><td>10,018</td><td>308,281</td><td>145,215</td></tr><tr><td>March</td><td>978,064</td><td>-</td><td>153,506</td><td>229,090</td><td>143,621</td><td>5,883</td><td>275,965</td><td>169,999</td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by the Bureau of Internal Revenue for collections by type of tax. Detail by type of tax is available only on a collection basis. Receipts on the Daily Treasury Statement basis are compiled from the latest daily reports from Government depositaries; they do not coincide with amounts reported by the Bureau because of the lag in deposits of collections and because certain taxes are paid directly into the depositaries.
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad (repealed by Public Law 386, approved June 10, 1952, for taxable years ending after that date).
2/ Includes excess profits taxes formerly shown separately as follows: unjust enrichment through 1947 (thereafter these collections are included under "Miscellaneous taxes"); declared values (repealed for years ending after June 30, 1946); Excess Profits Tax Act of 1940
(Title II of the Second Revenue Act of 1940, which was repealed for years ending after December 31, 1945). Includes also excess profits taxes on Army and Navy contracts under the Vinson Act as amended (34 U.S.C. 496) and income tax on business income of exempt organizations, imposed by the Revenue Act of 1951, approved October 20, 1951. 3/ Monthly figures include old-age insurance tax on self-employment income, which is levied and collected as part of the individual income tax beginning with the taxable year 1951. Fiscal year figures exclude this tax, on the basis of estimates beginning 1952, and it is included under "Old-age insurance taxes". 4/ Withheld income tax and old-age insurance taxes on employers and employees are paid into the Treasury in combined amounts beginning January 1951, so that current collections are not separable as to type of tax. For fiscal years beginning 1951, the breakdown is estimated. 5/ Repealed for years ending after June 30, 1945. Beginning July 1950, included under "Miscellaneous taxes".
May 1953
6.4
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Office of the Secretary of the Treasury.
8-165-N
50
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal year</th><th colspan="2">Eighth month of fiscal year</th><th colspan="2">Ninth month of fiscal year</th></tr><tr><th></th><th>1951</th><th>1952</th><th>1952 (Feb. 1952)</th><th>1953 (Feb. 1953)</th><th>1952 (Mar. 1952)</th><th>1953 (Mar. 1953)</th></tr><tr><td>Corporation income and profits taxes 2/</td><td>14,387,509</td><td>21,466,910</td><td>310,611</td><td>404,452</td><td>5,912,713</td><td>6,171,089</td></tr><tr><td colspan="7">Individual income tax and employment taxes:</td></tr><tr><td>Income tax not withheld 3/</td><td>9,907,539</td><td>11,545,060</td><td>1,464,298</td><td>839,012</td><td>2,133,195</td><td>2,698,047</td></tr><tr><td>Income tax withheld and old-age insurance 4/</td><td>15,900,519</td><td>21,313,072</td><td>4,172,031</td><td>4,990,091</td><td>536,555</td><td>327,686</td></tr><tr><td>Railroad retirement</td><td>579,778</td><td>620,622</td><td>42,713</td><td>67,158</td><td>106,724</td><td>91,058</td></tr><tr><td>Unemployment insurance</td><td>236,952</td><td>259,615</td><td>160,969</td><td>166,743</td><td>13,488</td><td>8,672</td></tr><tr><td>Total individual income tax and employment taxes</td><td>26,624,788</td><td>33,738,370</td><td>5,840,010</td><td>6,063,004</td><td>2,789,962</td><td>3,125,463</td></tr><tr><td colspan="7">Miscellaneous internal revenues:</td></tr><tr><td>Estate tax</td><td>638,523</td><td>750,591</td><td>61,860</td><td>61,526</td><td>63,884</td><td>75,070</td></tr><tr><td>Gift tax</td><td>91,207</td><td>82,556</td><td>4,332</td><td>3,304</td><td>49,510</td><td>78,435</td></tr><tr><td colspan="7">Liquor taxes:</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>172,362</td><td>187,479</td><td>12,382</td><td>12,805</td><td>16,123</td><td>18,167</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,574,472</td><td>1,402,220</td><td>99,339</td><td>114,028</td><td>120,070</td><td>140,646</td></tr><tr><td>Distilled spirits, rectification tax</td><td>38,053</td><td>31,812</td><td>2,038</td><td>2,106</td><td>2,374</td><td>2,751</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>3,738</td><td>3,753</td><td>135</td><td>133</td><td>268</td><td>328</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>63,516</td><td>68,621</td><td>5,375</td><td>5,482</td><td>6,734</td><td>6,612</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>9,161</td><td>15,249</td><td>179</td><td>134</td><td>124</td><td>113</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>12</td><td>28</td><td>2</td><td>2</td><td>3</td><td>2</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>1,090</td><td>1,285</td><td>78</td><td>69</td><td>106</td><td>83</td></tr><tr><td>Container stamps</td><td>14,921</td><td>12,080</td><td>797</td><td>917</td><td>999</td><td>1,124</td></tr><tr><td>Floor taxes</td><td>12</td><td>99,262</td><td>39,327</td><td>107</td><td>3,459</td><td>77</td></tr><tr><td>Farmered malt liquors</td><td>665,009</td><td>722,150</td><td>49,869</td><td>49,696</td><td>53,253</td><td>59,141</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>4,462</td><td>5,148</td><td>53</td><td>56</td><td>62</td><td>45</td></tr><tr><td>Total liquor taxes</td><td>2,546,807</td><td>2,549,088</td><td>210,234</td><td>185,596</td><td>203,574</td><td>229,090</td></tr><tr><td colspan="7">Tobacco taxes:</td></tr><tr><td>Cigars (large)</td><td>44,220</td><td>44,760</td><td>3,321</td><td>3,377</td><td>3,587</td><td>3,809</td></tr><tr><td>Cigars (small)</td><td>56</td><td>50</td><td>5</td><td>5</td><td>2</td><td>4</td></tr><tr><td>Cigarettes (large)</td><td>7</td><td>12</td><td>*</td><td>*</td><td>1</td><td>1</td></tr><tr><td>Cigarettes (small)</td><td>1,293,966</td><td>1,474,060</td><td>117,645</td><td>127,524</td><td>118,209</td><td>138,065</td></tr><tr><td>Snuff</td><td>7,835</td><td>4,796</td><td>374</td><td>295</td><td>308</td><td>328</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>33,870</td><td>22,817</td><td>1,475</td><td>1,290</td><td>1,368</td><td>1,413</td></tr><tr><td>Cigarette papers and tubes</td><td>1,041</td><td>913</td><td>8</td><td>77</td><td>10</td><td>1</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>1</td><td>2</td><td>*</td><td>-</td><td>*</td><td>*</td></tr><tr><td>Cigarettes and cigar floor taxes</td><td>1</td><td>17,752</td><td>166</td><td>1</td><td>101</td><td></td></tr><tr><td>Total tobacco taxes</td><td>1,380,396</td><td>1,565,162</td><td>122,996</td><td>132,569</td><td>123,586</td><td>143,621</td></tr><tr><td colspan="7">Stamp taxes:</td></tr><tr><td>Bonds, issues and transfers of capital stock, deeds of conveyance, etc.</td><td>84,784</td><td>77,556</td><td>4,893</td><td>9,401</td><td>5,009</td><td>5,128</td></tr><tr><td>Playing cards</td><td>8,222</td><td>7,353</td><td>779</td><td>608</td><td>746</td><td>715</td></tr><tr><td>Silver bullion sales or transfers</td><td>100</td><td>86</td><td>1</td><td>10</td><td>7</td><td>39</td></tr><tr><td>Total stamp taxes</td><td>93,107</td><td>84,995</td><td>5,674</td><td>10,018</td><td>5,762</td><td>5,883</td></tr><tr><td colspan="7">Manufacturers' excise taxes:</td></tr><tr><td>Lubricating oils</td><td>97,238</td><td>95,286</td><td>5,616</td><td>5,208</td><td>5,979</td><td>5,587</td></tr><tr><td>Gasoline</td><td>569,048</td><td>713,174</td><td>70,333</td><td>71,700</td><td>64,614</td><td>64,885</td></tr><tr><td>Tires and tubes</td><td>198,383</td><td>161,362</td><td>7,334</td><td>9,389</td><td>13,597</td><td>16,364</td></tr><tr><td>Automobile trucks and buses</td><td>121,285</td><td>147,445</td><td>14,173</td><td>17,598</td><td>12,459</td><td>14,045</td></tr><tr><td>Other automobiles and motorcycles</td><td>653,363</td><td>578,149</td><td>41,502</td><td>73,435</td><td>43,325</td><td>78,816</td></tr><tr><td>Parts and accessories for automobiles</td><td>119,475</td><td>164,135</td><td>14,499</td><td>12,709</td><td>16,038</td><td>14,315</td></tr><tr><td>Electric energy 5/</td><td>93,184</td><td>53,094</td><td>745</td><td>-</td><td>232</td><td>-</td></tr><tr><td>Electric, gas, and oil appliances</td><td>121,996</td><td>89,544</td><td>6,870</td><td>8,518</td><td>8,717</td><td>8,113</td></tr><tr><td>Electric light bulbs and tubes</td><td>30,284</td><td>30,736</td><td>3,046</td><td>3,398</td><td>2,920</td><td>4,708</td></tr><tr><td>Radio sets, phonographs, television sets, components, etc.</td><td>128,187</td><td>118,244</td><td>9,693</td><td>13,834</td><td>12,687</td><td>16,115</td></tr><tr><td>Photograph records</td><td>7,007</td><td>6,880</td><td>362</td><td>921</td><td>798</td><td>844</td></tr><tr><td>Musical instruments</td><td>10,756</td><td>9,412</td><td>750</td><td>1,050</td><td>741</td><td>747</td></tr><tr><td>Mechanical refrigerators, air-conditioners, quick-freeze units, etc.</td><td>96,319</td><td>57,970</td><td>3,386</td><td>5,381</td><td>5,508</td><td>8,803</td></tr><tr><td>Matches</td><td>10,169</td><td>8,032</td><td>533</td><td>424</td><td>993</td><td>924</td></tr><tr><td>Business and store machines</td><td>44,491</td><td>48,515</td><td>4,768</td><td>4,923</td><td>4,351</td><td>3,997</td></tr><tr><td>Photographic apparatus</td><td>46,020</td><td>33,766</td><td>1,907</td><td>3,516</td><td>1,649</td><td>1,901</td></tr><tr><td>Sporting goods</td><td>17,862</td><td>16,501</td><td>705</td><td>1,398</td><td>1,133</td><td>1,211</td></tr><tr><td>Firearms, shells, and cartridges</td><td>17,846</td><td>10,679</td><td>171</td><td>689</td><td>670</td><td>610</td></tr><tr><td>Pistols and revolvers</td><td>762</td><td>1,172</td><td>61</td><td>91</td><td>93</td><td>66</td></tr><tr><td>Mechanical pencils, pens, and lighters 6/</td><td>-</td><td>4,816</td><td>700</td><td>1,059</td><td>918</td><td>675</td></tr><tr><td>Total manufacturers' excise taxes</td><td>2,383,677</td><td>2,348,914</td><td>187,153</td><td>235,242</td><td>197,422</td><td>242,799</td></tr></table>
Footnotes at end of table.
(Continued on following page)
May 1955
51
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax 1/ - (Continued)
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal year</th><th colspan="2">Eighth month of fiscal year</th><th colspan="2">Ninth month of fiscal year</th></tr><tr><th></th><th>1951</th><th>1952</th><th>1952 (Feb. 1952)</th><th>1953 (Feb. 1953)</th><th>1952 (Mar. 1952)</th><th>1953 (Mar. 1953)</th></tr><tr><td>Miscellaneous internal revenue (continued):</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Retailers' excise taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Furs</td><td>57,604</td><td>51,436</td><td>8,325</td><td>7,609</td><td>4,936</td><td>5,068</td></tr><tr><td>Jewelry</td><td>210,239</td><td>220,403</td><td>37,643</td><td>38,353</td><td>13,892</td><td>15,253</td></tr><tr><td>Luggage</td><td>82,831</td><td>90,799</td><td>14,102</td><td>13,217</td><td>4,672</td><td>5,040</td></tr><tr><td>Toilet preparations</td><td>106,339</td><td>112,892</td><td>14,338</td><td>13,860</td><td>7,249</td><td>7,805</td></tr><tr><td>Total retailers' excise taxes</td><td>457,013</td><td>475,530</td><td>74,110</td><td>73,039</td><td>30,748</td><td>33,166</td></tr><tr><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sugar Act of 1937</td><td>80,192</td><td>78,473</td><td>5,777</td><td>5,419</td><td>4,616</td><td>5,576</td></tr><tr><td>Telephone, telegraph, radio, and cable facilities</td><td>354,660</td><td>395,434</td><td>32,140</td><td>26,165</td><td>35,665</td><td>43,281</td></tr><tr><td>Local telephone service</td><td>290,320</td><td>310,337</td><td>22,564</td><td>23,378</td><td>31,539</td><td>30,837</td></tr><tr><td>Transportation of oil by pipe line</td><td>24,946</td><td>26,881</td><td>2,560</td><td>2,172</td><td>1,859</td><td>2,135</td></tr><tr><td>Transportation of persons, etc.</td><td>237,617</td><td>275,174</td><td>24,246</td><td>24,297</td><td>20,283</td><td>21,914</td></tr><tr><td>Transportation of property</td><td>381,342</td><td>388,589</td><td>31,109</td><td>33,227</td><td>30,331</td><td>33,667</td></tr><tr><td>Losses of safe-deposit boxes</td><td>9,569</td><td>10,211</td><td>1,095</td><td>1,202</td><td>978</td><td>853</td></tr><tr><td>Admissions to theaters, concerts, etc.</td><td>346,492</td><td>330,782</td><td>23,999</td><td>20,636</td><td>20,093</td><td>21,225</td></tr><tr><td>Admissions to cabarets, roof gardens, etc.</td><td>42,646</td><td>45,489</td><td>3,965</td><td>4,248</td><td>3,497</td><td>3,716</td></tr><tr><td>Club dues and initiation fees</td><td>30,120</td><td>33,592</td><td>3,136</td><td>3,362</td><td>3,123</td><td>3,236</td></tr><tr><td>Bowling alleys, pool tables, etc.</td><td>3,610</td><td>3,597</td><td>43</td><td>26</td><td>26</td><td>24</td></tr><tr><td>Coin operated devices</td><td>20,731</td><td>18,823</td><td>266</td><td>201</td><td>171</td><td>170</td></tr><tr><td>Adulterated and process or renovated butter, and filled cheese</td><td>11</td><td>4</td><td>*</td><td>*</td><td>*</td><td>3</td></tr><tr><td>Narcotice, including marijuana and special taxes</td><td>866</td><td>915</td><td>37</td><td>46</td><td>69</td><td>69</td></tr><tr><td>Coconut and other vegetable oils processed</td><td>19,088</td><td>15,205</td><td>615</td><td>1,594</td><td>1,308</td><td>1,489</td></tr><tr><td>National Firearms Act</td><td>9</td><td>29</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Diesel oil 7/</td><td>-</td><td>7,138</td><td>1,422</td><td>1,326</td><td>1,102</td><td>1,074</td></tr><tr><td>Wagering taxes 6/</td><td>-</td><td>5,345</td><td>676</td><td>802</td><td>697</td><td>712</td></tr><tr><td>All other, including repealed taxes not shown separately</td><td>381</td><td>1,261</td><td>5</td><td>-2,884</td><td>24</td><td>16</td></tr><tr><td>Total miscellaneous taxes</td><td>1,842,598</td><td>1,347,276</td><td>153,714</td><td>145,215</td><td>150,680</td><td>169,999</td></tr><tr><td>Total miscellaneous internal revenue</td><td>9,433,328</td><td>9,804,112</td><td>820,372</td><td>846,509</td><td>831,166</td><td>978,064</td></tr><tr><td>Total internal revenus collections</td><td>50,445,686</td><td>65,009,393</td><td>6,970,994</td><td>7,313,965</td><td>9,533,841</td><td>10,274,615</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>4660,409</td><td>4625,502</td><td>-908,271</td><td>-1,163,657</td><td>+1,107,122</td><td>+1,437,829</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement)</td><td>51,106,095</td><td>65,634,894</td><td>6,062,723</td><td>6,150,309</td><td>10,640,963</td><td>11,712,444</td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by the Bureau of Internal Revenue for collections by type of tax. Detail by type of tax is available only on a collection basis. Receipts on the Daily Treasury Statement basis are compiled from the latest daily reports from Government depositaries; they do not coincide with amounts reported by the Bureau because of the lag in deposits of collections and because certain taxes are paid directly into the depositaries.
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad (repealed by Public Law 386, approved June 10, 1952, for taxable years ending after that date).
2/ Includes excess profits taxes on Army and Navy contracts imposed by the Vinson Act as amended (34 U.S.C. 496), and income tax on business income of exempt organizations, imposed by the Revenue Act of 1951, approved October 20, 1951.
3/ Includes old-age insurance tax on self-employment income, imposed by
the Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950. The tax is levied and collected as part of the individual income tax beginning with the taxable year 1951. For estimated fiscal year breakdown, see Table 1. 4/ Beginning January 1951, withheld income tax and social security employment taxes on employers and employees are paid into the Treasury in combined amounts without separation as to type of tax, pursuant to the Social Security Act Amendments of 1950. For estimated fiscal year breakdown, see Table 1. 5/ Repealed, effective November 1, 1951, by Revenue Act of 1951. Beginning July 1952, included with other repealed taxes under "Miscellaneous taxes". 6/ Effective November 1, 1951, under Revenue Act of 1951. 7/ Applies to diesel oil used in highway vehicles; effective November 1, 1951, under Revenue Act of 1951. * Less than $500.
52
Treasury Bulletin
MONETARY STATISTICS
Table 1.- Money in Circulation
(In millions of dollars except as noted)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation 1/</th><th colspan="7">Pepar money</th></tr><tr><th></th><th></th><th>Total paper money</th><th>Coin certific-ates 2/</th><th>Silver certifi-catee</th><th>Treasury notes of 1890 3/</th><th>United States notes</th><th>Federal Reserve notes</th><th>Federal Reserve Bank notes 4/</th><th>National bank notes 4/</th></tr><tr><td>1945</td><td>26,746</td><td>25,511</td><td>52</td><td>1,651</td><td>1</td><td>323</td><td>22,867</td><td>527</td><td>120</td></tr><tr><td>1946</td><td>28,245</td><td>26,945</td><td>50</td><td>2,025</td><td>1</td><td>317</td><td>23,973</td><td>464</td><td>114</td></tr><tr><td>1947</td><td>28,297</td><td>26,942</td><td>48</td><td>2,061</td><td>1</td><td>320</td><td>23,999</td><td>406</td><td>106</td></tr><tr><td>1948</td><td>27,903</td><td>26,482</td><td>45</td><td>2,061</td><td>1</td><td>321</td><td>23,600</td><td>353</td><td>99</td></tr><tr><td>1949</td><td>27,493</td><td>26,034</td><td>43</td><td>2,061</td><td>1</td><td>319</td><td>23,209</td><td>309</td><td>93</td></tr><tr><td>1950</td><td>27,156</td><td>25,661</td><td>41</td><td>2,177</td><td>1</td><td>321</td><td>22,760</td><td>274</td><td>86</td></tr><tr><td>1951</td><td>27,809</td><td>26,231</td><td>39</td><td>2,092</td><td>1</td><td>318</td><td>23,456</td><td>243</td><td>81</td></tr><tr><td>1952</td><td>29,026</td><td>27,348</td><td>38</td><td>2,088</td><td>1</td><td>318</td><td>24,605</td><td>221</td><td>77</td></tr><tr><td>1951-December</td><td>29,206</td><td>27,552</td><td>38</td><td>2,079</td><td>1</td><td>316</td><td>24,807</td><td>232</td><td>79</td></tr><tr><td>1952-July</td><td>28,978</td><td>27,292</td><td>38</td><td>2,063</td><td>1</td><td>315</td><td>24,580</td><td>218</td><td>77</td></tr><tr><td>August</td><td>29,293</td><td>27,598</td><td>38</td><td>2,080</td><td>1</td><td>316</td><td>24,870</td><td>217</td><td>77</td></tr><tr><td>September</td><td>29,419</td><td>27,714</td><td>37</td><td>2,095</td><td>1</td><td>318</td><td>24,971</td><td>215</td><td>76</td></tr><tr><td>October</td><td>29,644</td><td>27,922</td><td>37</td><td>2,093</td><td>1</td><td>317</td><td>25,184</td><td>214</td><td>76</td></tr><tr><td>November</td><td>30,236</td><td>28,497</td><td>37</td><td>2,115</td><td>1</td><td>322</td><td>25,733</td><td>212</td><td>76</td></tr><tr><td>December</td><td>30,433</td><td>28,683</td><td>37</td><td>2,105</td><td>1</td><td>314</td><td>25,941</td><td>210</td><td>75</td></tr><tr><td>1953-January</td><td>29,691</td><td>27,970</td><td>37</td><td>2,006</td><td>1</td><td>305</td><td>25,337</td><td>208</td><td>75</td></tr><tr><td>February</td><td>29,793</td><td>28,068</td><td>37</td><td>2,027</td><td>1</td><td>312</td><td>25,410</td><td>207</td><td>75</td></tr><tr><td>March p</td><td>29,749</td><td>28,012</td><td>37</td><td>2,064</td><td>1</td><td>314</td><td>25,316</td><td>205</td><td>74</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th colspan="4">Coin</th><th>Money in circulation per capita (in dollars) 2/</th></tr><tr><th></th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th></th></tr><tr><td>1945</td><td>1,205</td><td>125</td><td>788</td><td>292</td><td>191.61</td></tr><tr><td>1946</td><td>1,300</td><td>140</td><td>843</td><td>317</td><td>199.76</td></tr><tr><td>1947</td><td>1,355</td><td>148</td><td>876</td><td>331</td><td>196.33</td></tr><tr><td>1948</td><td>1,421</td><td>156</td><td>919</td><td>346</td><td>190.31</td></tr><tr><td>1949</td><td>1,459</td><td>164</td><td>940</td><td>355</td><td>184.33</td></tr><tr><td>1950</td><td>1,496</td><td>170</td><td>965</td><td>361</td><td>179.03</td></tr><tr><td>1951</td><td>1,578</td><td>180</td><td>1,020</td><td>378</td><td>180.17</td></tr><tr><td>1952</td><td>1,678</td><td>191</td><td>1,093</td><td>393</td><td>184.86</td></tr><tr><td>1951-December</td><td>1,654</td><td>189</td><td>1,073</td><td>392</td><td>187.52</td></tr><tr><td>1952-July</td><td>1,686</td><td>193</td><td>1,097</td><td>396</td><td>184.26</td></tr><tr><td>August</td><td>1,695</td><td>195</td><td>1,102</td><td>398</td><td>185.98</td></tr><tr><td>September</td><td>1,705</td><td>196</td><td>1,108</td><td>401</td><td>186.47</td></tr><tr><td>October</td><td>1,722</td><td>197</td><td>1,121</td><td>404</td><td>187.61</td></tr><tr><td>November</td><td>1,739</td><td>197</td><td>1,135</td><td>407</td><td>191.09</td></tr><tr><td>December</td><td>1,750</td><td>199</td><td>1,141</td><td>410</td><td>192.07</td></tr><tr><td>1953-January</td><td>1,721</td><td>198</td><td>1,116</td><td>406</td><td>187.14r</td></tr><tr><td>February</td><td>1,725</td><td>199</td><td>1,120</td><td>406</td><td>187.54</td></tr><tr><td>March p.</td><td>1,737</td><td>199</td><td>1,130</td><td>407</td><td>187.02</td></tr></table>
Source: Circulation Statement of United States Money.
1/ Excludes money held by the Treasury, money held by or for the account of the Federal Reserve Banks and agents, and coin estimated to be held outside the continental limits of the United States. Includes paper currency held outside the continental limits of the United States.
2/ Gold certificates were withdrawn from circulation in 1933.
3/ Treasury notes of 1890 in circulation are being canceled and retired upon receipt by the Treasury.
1/ Federal Reserve Bank notes and national bank notes are covered by deposits of lawful money and are in process of retirement.
5/ Based on latest population estimates by the Bureau of the Census.
P Preliminary.
R Revised.
May 1955
53
MONETARY STATISTICS
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts in millions)
<table><tr><th>End of fiscal year or month</th><th>Gold ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks (in percent)</th></tr><tr><td>1945</td><td>20,213.0</td><td>3,685.8</td><td>15.4</td></tr><tr><td>1946</td><td>20,269.9</td><td>3,508.4</td><td>14.8</td></tr><tr><td>1947</td><td>21,266.5</td><td>3,525.7</td><td>14.2</td></tr><tr><td>1948</td><td>23,532.5</td><td>3,571.0</td><td>13.2</td></tr><tr><td>1949</td><td>24,466.3</td><td>3,618.3</td><td>12.9</td></tr><tr><td>1950</td><td>24,230.7</td><td>3,671.5</td><td>13.2</td></tr><tr><td>1951</td><td>21,755.9</td><td>3,718.5</td><td>14.6</td></tr><tr><td>1952</td><td>23,346.5</td><td>3,768.5</td><td>13.9</td></tr><tr><td>1951-December</td><td>22,695.5</td><td>3,741.3</td><td>14.2</td></tr><tr><td>1952-July</td><td>23,350.5</td><td>3,773.3</td><td>13.9</td></tr><tr><td>August</td><td>23,344.4</td><td>3,777.8</td><td>13.9</td></tr><tr><td>September</td><td>23,342.0</td><td>3,781.2</td><td>13.9</td></tr><tr><td>October</td><td>23,339.3</td><td>3,785.4</td><td>14.0</td></tr><tr><td>November</td><td>23,337.5</td><td>3,789.1</td><td>14.0</td></tr><tr><td>December</td><td>23,187.1</td><td>3,794.1</td><td>14.1</td></tr><tr><td>1953-January</td><td>22,985.8</td><td>3,797.7</td><td>14.2</td></tr><tr><td>February</td><td>22,662.1</td><td>3,801.0</td><td>14.4</td></tr><tr><td>March P</td><td>22,562.4</td><td>3,802.6</td><td>14.4</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for preliminary figures. For detail of silver monetary stock, see Table 4.
p Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Gold assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold certificates 1/</th><th>Gold reserve against U.S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1945</td><td>20,064.9</td><td>17,914.1</td><td>156.0</td><td>1,800.0</td><td>194.8</td></tr><tr><td>1946</td><td>20,529.0</td><td>18,430.5</td><td>156.0</td><td>1,800.0</td><td>142.4</td></tr><tr><td>1947</td><td>22,753.9</td><td>21,544.0</td><td>156.0</td><td>-</td><td>1,053.9</td></tr><tr><td>1948</td><td>24,243.9</td><td>23,010.0</td><td>156.0</td><td>-</td><td>1,077.9</td></tr><tr><td>1949</td><td>24,427.1</td><td>23,217.9</td><td>156.0</td><td>-</td><td>1,053.2</td></tr><tr><td>1950</td><td>22,706.1</td><td>21,497.5</td><td>156.0</td><td>-</td><td>1,052.6</td></tr><tr><td>1951</td><td>22,695.5</td><td>21,506.5</td><td>156.0</td><td>-</td><td>1,032.9</td></tr><tr><td>1952</td><td>23,187.1</td><td>22,022.8</td><td>156.0</td><td>-</td><td>1,008.2</td></tr><tr><td>1952-July</td><td>23,350.5</td><td>22,184.0</td><td>156.0</td><td>-</td><td>1,010.4</td></tr><tr><td>August</td><td>23,344.4</td><td>22,184.3</td><td>156.0</td><td>-</td><td>1,004.1</td></tr><tr><td>September</td><td>23,342.0</td><td>22,184.3</td><td>156.0</td><td>-</td><td>1,001.7</td></tr><tr><td>October</td><td>23,339.3</td><td>22,176.8</td><td>156.0</td><td>-</td><td>1,006.5</td></tr><tr><td>November</td><td>23,337.5</td><td>22,182.3</td><td>156.0</td><td>-</td><td>999.2</td></tr><tr><td>December</td><td>23,187.1</td><td>22,022.8</td><td>156.0</td><td>-</td><td>1,008.2</td></tr><tr><td>1953-January</td><td>22,985.8</td><td>21,827.4</td><td>156.0</td><td>-</td><td>1,002.4</td></tr><tr><td>February</td><td>22,662.1</td><td>21,517.0</td><td>156.0</td><td>-</td><td>989.1</td></tr><tr><td>March p....</td><td>22,562.4</td><td>21,404.1</td><td>156.0</td><td>-</td><td>1,002.3</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for preliminary figures. 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (e) the gold certificate fund -
Board of Governors, Federal Reserve System, and (b) the redemption fund - Federal Reserve notes. 2/ Reserves against United States notes and Treasury notes of 1890. 3/ Excludes gold in active portion of Exchange Stabilization Fund. p Preliminary.
54
Treasury Bulletin
MONETARY STATISTICS
Table 4.- Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="5">Silver held in Treasury</th><th colspan="2">Silver outsides Treasury</th><th rowspan="2">Total silver at $1.29+ per fine ounce</th></tr><tr><th>Securing silver certificates 1/ Silver bullion 2/</th><th>Silver dollars</th><th>Subsidiary coin 3/</th><th>Bullion for recoinage 4/</th><th>Bullion at cost 2/</th><th>Silver dollars 1/</th><th>Subsidiary coin 3/</th></tr><tr><td>1945</td><td>1,703.9</td><td>356.4</td><td>10.2</td><td>.1</td><td>185.6</td><td>137.5</td><td>846.7</td><td>3,512.8</td></tr><tr><td>1946</td><td>1,911.2</td><td>343.4</td><td>14.0</td><td>-</td><td>93.1</td><td>150.1</td><td>901.1</td><td>3,514.2</td></tr><tr><td>1947</td><td>1,937.6</td><td>337.2</td><td>13.1</td><td>-</td><td>91.1</td><td>156.3</td><td>928.7</td><td>3,547.9</td></tr><tr><td>1948</td><td>1,971.5</td><td>328.1</td><td>5.9</td><td>-</td><td>89.3</td><td>165.0</td><td>971.5</td><td>3,595.7</td></tr><tr><td>1949</td><td>2,003.2</td><td>321.9</td><td>11.4</td><td>-</td><td>94.4</td><td>171.0</td><td>982.2</td><td>3,643.1</td></tr><tr><td>1950</td><td>2,040.7</td><td>312.8</td><td>3.6</td><td>-</td><td>95.1</td><td>179.8</td><td>1,022.2</td><td>3,697.1</td></tr><tr><td>1951</td><td>2,073.5</td><td>301.0</td><td>1.7</td><td>-</td><td>82.0</td><td>191.3</td><td>1,083.1</td><td>3,741.3</td></tr><tr><td>1952</td><td>2,109.7</td><td>289.3</td><td>3.9</td><td>.2</td><td>45.3</td><td>202.5</td><td>1,158.1</td><td>3,794.1</td></tr><tr><td>1952-July</td><td>2,095.2</td><td>295.5</td><td>6.6</td><td>-</td><td>64.5</td><td>196.4</td><td>1,119.4</td><td>3,773.3</td></tr><tr><td>August</td><td>2,098.5</td><td>293.6</td><td>11.9</td><td>-</td><td>58.1</td><td>198.3</td><td>1,125.1</td><td>3,777.8</td></tr><tr><td>September</td><td>2,101.8</td><td>292.7</td><td>9.2</td><td>-</td><td>53.8</td><td>199.2</td><td>1,134.5</td><td>3,781.2</td></tr><tr><td>October</td><td>2,104.3</td><td>291.7</td><td>4.6</td><td>-</td><td>51.1</td><td>200.2</td><td>1,145.2</td><td>3,785.4</td></tr><tr><td>November</td><td>2,107.1</td><td>290.0</td><td>3.7</td><td>-</td><td>48.7</td><td>201.9</td><td>1,150.6</td><td>3,789.1</td></tr><tr><td>December</td><td>2,109.7</td><td>289.3</td><td>3.9</td><td>.2</td><td>45.3</td><td>202.5</td><td>1,158.1</td><td>3,794.1</td></tr><tr><td>1953-January</td><td>2,113.3</td><td>289.1</td><td>8.9</td><td>*</td><td>41.9</td><td>202.6</td><td>1,158.6</td><td>3,797.7</td></tr><tr><td>February</td><td>2,116.3</td><td>288.9</td><td>10.0</td><td>-</td><td>41.3</td><td>202.8</td><td>1,158.8</td><td>3,801.0</td></tr><tr><td>March p</td><td>2,118.3</td><td>288.8</td><td>12.4</td><td>-</td><td>39.1</td><td>202.9</td><td>1,161.7</td><td>3,802.6</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for certain preliminary figures.
1/ Valued at $1.29+ per fine ounce.
2/ Includes silver held by certain agencies of the Federal Government (see Daily Treasury Statement for amount). Does not include silver lend-issued to foreign governments (these transactions all took place during the fiscal years 1942 through 1946; see 1946 Annual Report of the
3/ Valued at $1.38+ per fine ounce.
4/ Valued at $1.38+ per fine ounce or at $1.29+ per fine ounce according to whether the bullion is held for recoinage of subsidiary silver coins or for recoining of standard silver dollars.
p Preliminary.
* Less than $50 thousand.
Table 5.- Silver Production in the United States and Acquisitions by Mints and Assay Offices 1/
(In millions of ounces or dollars)
<table><tr><th rowspan="2">Calendar year or month</th><th rowspan="2">Silver production in United States Ounces</th><th colspan="4">Silver acquisitions by mints and assay offices</th></tr><tr><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Foreign silver 3/</th></tr><tr><th></th><th>Ounces</th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>1945</td><td>29.0</td><td>.9</td><td>.6</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>21.1</td><td>4.9</td><td>4.4</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>38.6</td><td>30.3 4/</td><td>27.4 4/</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>39.2</td><td>36.8</td><td>33.3</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>34.9</td><td>33.0</td><td>29.9</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>42.3</td><td>41.3</td><td>37.4</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>39.9 r</td><td>36.1</td><td>32.7</td><td>-</td><td>-</td></tr><tr><td>1952</td><td>40.2</td><td>41.2</td><td>37.3</td><td>-</td><td>-</td></tr><tr><td>1952-July</td><td>3.3</td><td>3.8</td><td>3.4</td><td>-</td><td>-</td></tr><tr><td>August</td><td>2.3</td><td>3.5</td><td>3.2</td><td>-</td><td>-</td></tr><tr><td>September</td><td>3.2</td><td>2.6</td><td>2.4</td><td>-</td><td>-</td></tr><tr><td>October</td><td>3.7</td><td>3.3</td><td>3.0</td><td>-</td><td>-</td></tr><tr><td>November</td><td>3.0</td><td>2.9</td><td>2.6</td><td>-</td><td>-</td></tr><tr><td>December</td><td>3.1</td><td>3.9</td><td>3.5</td><td>-</td><td>-</td></tr><tr><td>1953-January</td><td>3.4</td><td>2.8</td><td>2.6</td><td>-</td><td>-</td></tr><tr><td>February</td><td>3.1</td><td>2.6</td><td>2.3</td><td>-</td><td>-</td></tr></table>
Sources: Annual figures from the Bureau of the Mint. Monthly figures on U. S. silver production from releases of the American Bureau of Metal Statistics; these will not agree with the annual figures. For information on silver production in other countries, see annual reports of the Director of the Mint. Data from 1933 through 1941 are summarized in the "Treasury Bulletin" for August 1943, page 74. Acquired at 71.11 cents per fine ounce from July 1, 1939 to July 2, 1946;
and at 90.5 cents per fine ounce since July 2, 1946. No foreign silver has been purchased under the Silver Purchase Act of 1934 since May 1942. Including 0.2 million ounces valued at 71.11 cents per fine ounce totaling $0.2 million, and 30.1 million ounces valued at 90.5 cents per fine ounce totaling $27.2 million. Revised.
May 1955
55
MONETARY STATISTICS
Table 6.- Seigniorage on Silver
(Cumulative from January 1, 1935 - in millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Seigniorage on coins (silver and minor)</th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly mined silver (Proc. Dec. 21, 1933)</th><th>Newly mined silver (Acts July 6, 1939, and July 31, 1946)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943</td><td>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1944</td><td>362.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>717.3</td></tr><tr><td>1945</td><td>429.5</td><td>48.7</td><td>87.6</td><td>65.5</td><td>701.6</td><td>34.7</td><td>938.1</td><td>333.2</td></tr><tr><td>1946</td><td>491.9</td><td>48.7</td><td>87.6</td><td>66.5</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.2</td></tr><tr><td>1947</td><td>520.5</td><td>48.7</td><td>87.6</td><td>74.5</td><td>832.1</td><td>34.7</td><td>1,077.6</td><td>146.8</td></tr><tr><td>1948</td><td>559.2</td><td>48.7</td><td>87.6</td><td>84.6</td><td>832.2</td><td>34.7</td><td>1,087.8</td><td>129.9</td></tr><tr><td>1949</td><td>578.7</td><td>48.7</td><td>87.6</td><td>93.5</td><td>833.6</td><td>34.7</td><td>1,098.1</td><td>127.2</td></tr><tr><td>1950</td><td>596.6</td><td>48.7</td><td>87.6</td><td>104.7</td><td>833.6</td><td>34.7</td><td>1,109.3</td><td>111.7</td></tr><tr><td>1951</td><td>642.3</td><td>48.7</td><td>87.6</td><td>114.6</td><td>833.6</td><td>34.7</td><td>1,119.2</td><td>81.9</td></tr><tr><td>1952</td><td>694.2</td><td>48.7</td><td>87.6</td><td>125.4</td><td>833.6</td><td>34.7</td><td>1,130.0</td><td>57.2</td></tr><tr><td>1952-July</td><td>674.3</td><td>48.7</td><td>87.5</td><td>121.1</td><td>833.6</td><td>34.7</td><td>1,125.7</td><td>67.1</td></tr><tr><td>August</td><td>678.8</td><td>48.7</td><td>87.6</td><td>122.0</td><td>833.6</td><td>34.7</td><td>1,126.6</td><td>62.0</td></tr><tr><td>September</td><td>683.0</td><td>48.7</td><td>87.5</td><td>123.0</td><td>833.6</td><td>34.7</td><td>1,127.5</td><td>61.3</td></tr><tr><td>October</td><td>687.2</td><td>48.7</td><td>87.6</td><td>123.8</td><td>833.6</td><td>34.7</td><td>1,128.4</td><td>61.0</td></tr><tr><td>November</td><td>689.8</td><td>48.7</td><td>87.6</td><td>124.6</td><td>833.6</td><td>34.7</td><td>1,129.2</td><td>60.2</td></tr><tr><td>December</td><td>694.2</td><td>48.7</td><td>87.6</td><td>125.4</td><td>833.6</td><td>34.7</td><td>1,130.0</td><td>57.2</td></tr><tr><td>1953-January</td><td>696.5</td><td>48.7</td><td>87.6</td><td>126.7</td><td>833.6</td><td>34.7</td><td>1,131.3</td><td>56.5</td></tr><tr><td>February</td><td>697.7</td><td>48.7</td><td>87.6</td><td>127.4</td><td>833.6</td><td>34.7</td><td>1,132.0</td><td>57.6</td></tr><tr><td>March</td><td>700.6</td><td>48.7</td><td>87.6</td><td>128.0</td><td>833.6</td><td>34.7</td><td>1,132.6</td><td>55.5</td></tr></table>
Source: Office of the Treasurer of the United States. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potentialesigniorage thereon changes.
Table 7.- Increment Resulting from the Reduction in the Weight of the Gold Dollar, March 31, 1953
<table><tr><th></th><th>Allocations of increment</th><th>Charges against increment</th><th>Unexpended balance of increment</th></tr><tr><td>Exchange Stabilisation Fund</td><td>$2,000,000,000.00</td><td>$2,000,000,000.00</td><td>-</td></tr><tr><td>Payments to Federal Reserve Banks for industrial loans</td><td>139,299,536.99</td><td>27,546,310.97</td><td>$111,753,246.02</td></tr><tr><td>Philippine currency reserve</td><td>23,862,750.78</td><td>-</td><td>23,862,750.78</td></tr><tr><td>Melting losses on gold coin</td><td>2,175,121.93</td><td>1,835,213.05</td><td>319,908.88</td></tr><tr><td>Retirement of national bank notes</td><td>645,387,965.45</td><td>645,387,965.45</td><td>-</td></tr><tr><td>Unassigned</td><td>8,655,753.17</td><td>-</td><td>8,655,753.17</td></tr><tr><td>Total increment</td><td>2,819,381,148.32</td><td>2,674,789,489.47</td><td>$144,591,658.85</td></tr></table>
Source: Office of the Treasurer of the United States.
56
Treasury Bulletin
EXCHANGE STABILIZATION FUND
Table 1.- Balance Sheet as of June 30, 1952, and December 31, 1952
<table><tr><th></th><th>June 30, 1952</th><th>December 31, 1952</th></tr><tr><td><b>Assets:</b></td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td></tr><tr><td>Treasurer of the United States, checking account.....</td><td>$7,724,468.15</td><td>$7,786,153.88</td></tr><tr><td>Federal Reserve Bank of New York, special account.....</td><td>94,320,111.84</td><td>218,273,957.68</td></tr><tr><td>Disbursing officers' balances and advance accounts....</td><td>13,446.37</td><td>16,950.45</td></tr><tr><td>Total cash.............................................</td><td>$102,058,026.36</td><td>$226,077,062.01</td></tr><tr><td>Special accounts of Secretary of the Treasury in Federal Reserve Bank of New York:</td><td></td><td></td></tr><tr><td>Special account No. 1, gold............................</td><td>186,170,396.01</td><td>65,361,564.93</td></tr><tr><td>Due from foreign banks (foreign exchange):</td><td></td><td></td></tr><tr><td>Indian rupees............................................</td><td>2,267,491.94</td><td>422,065.20</td></tr><tr><td>Pakistani rupees.........................................</td><td>984,655.66</td><td>37,346.35</td></tr><tr><td>Total due from foreign banks.........................</td><td>3,252,147.60</td><td>459,411.55</td></tr><tr><td>Investments in United States Government securities.....</td><td>20,000,000.00</td><td>20,000,000.00</td></tr><tr><td>Accrued interest receivable.............................</td><td>82,936.11</td><td>84,884.03</td></tr><tr><td>Accounts receivable.....................................</td><td>51,575.79</td><td>4.37</td></tr><tr><td>Federal Reserve Bank of New York, clearing account.....</td><td>-</td><td>-</td></tr><tr><td>Total assets.............................................</td><td>311,615,081.87</td><td>311,982,926.89</td></tr><tr><td><b>Liabilities and capital:</b></td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td></tr><tr><td>Vouchers payable.........................................</td><td>13,901.18</td><td>21,760.82</td></tr><tr><td>Employees' pay-roll allotment account, United States savings bonds....................................</td><td>1,766.75</td><td>3,613.42</td></tr><tr><td>Due on purchase...........................................</td><td>-</td><td>-</td></tr><tr><td>Miscellaneous............................................</td><td>116,753.99</td><td>38,695.47</td></tr><tr><td>Total accounts payable..................................</td><td>132,421.92</td><td>114,069.71</td></tr><tr><td>Reserve for expenses and contingencies (net)............</td><td>9,431,005.26</td><td>9,599,987.62</td></tr><tr><td>Capital account...........................................</td><td>2,000,000,000.00</td><td>2,000,000,000.00</td></tr><tr><td>Deduct - Subscription to International Monetary Fund....</td><td>1,800,000,000.00</td><td>1,800,000,000.00</td></tr><tr><td>Net income (See Table 2)..................................</td><td>102,051,653.69</td><td>102,268,869.56</td></tr><tr><td>Total liabilities and capital............................</td><td>311,615,081.87</td><td>311,982,926.89</td></tr></table>
Note: Annual balance sheets for fiscal years 1934 through 1940 appear in the 1940 Annual Report of the Secretary of the Treasury and those for succeeding years appear in subsequent reports. Quarterly balance sheets
beginning with that for December 31, 1938, have been published in the "Treasury Bulletin".
May 1955
57
EXCHANGE STABILIZATION FUND
Table 2.- Income and Expense
<table><tr><th>Classification</th><th>January 31, 1934, through June 30, 1952</th><th>January 31, 1934, through December 31, 1952</th></tr><tr><td><b>Income:</b></td><td></td><td></td></tr><tr><td>Profits on British sterling transactions</td><td>$310,638.09</td><td>$310,638.09</td></tr><tr><td>Profits on French franc transactions</td><td>351,527.60</td><td>351,527.60</td></tr><tr><td>Profits on gold bullion (including profits from handling charges on gold)</td><td>53,883,358.93</td><td>54,630,988.18</td></tr><tr><td>Profits on other gold and exchange transactions</td><td>40,000,000.00</td><td>40,000,000.00</td></tr><tr><td>Profits on silver transactions</td><td>102,735.27</td><td>102,735.27</td></tr><tr><td>Profit on sale of silver bullion to Treasury (nationalized)</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profits on investments</td><td>1,876,790.55</td><td>1,876,790.55</td></tr><tr><td>Interest on investments</td><td>8,198,066.89</td><td>8,450,014.81</td></tr><tr><td>Miscellaneous profits</td><td>861,546.95</td><td>861,546.95</td></tr><tr><td>Interest earned on foreign balances</td><td>2,849,683.19</td><td>2,849,683.19</td></tr><tr><td>Interest earned on Chinese yuan</td><td>1,975,317.07</td><td>1,975,317.07</td></tr><tr><td>Total income</td><td>113,883,026.83</td><td>114,882,604.00</td></tr><tr><td><b>Expense:</b></td><td></td><td></td></tr><tr><td>Personal services</td><td>8,753,788.26</td><td>9,427,080.75</td></tr><tr><td>Travel</td><td>445,046.91</td><td>477,128.94</td></tr><tr><td>Transportation of things</td><td>671,413.57</td><td>683,003.56</td></tr><tr><td>Communications</td><td>557,523.13</td><td>566,395.28</td></tr><tr><td>Supplies and materials</td><td>99,193.94</td><td>102,280.83</td></tr><tr><td>Other</td><td>1,304,407.33</td><td>1,357,845.08</td></tr><tr><td>Total expense</td><td>11,831,373.14</td><td>12,613,734.44</td></tr><tr><td>Net income</td><td>102,051,653.69</td><td>102,268,869.56</td></tr></table>
58
Treasury Bulletin
CAPITAL MOVEMENTS
Data relating to claims on foreigners and liabilities to foreigners, and capital movements between the United States and foreign countries, have been collected since 1935, pursuant to Executive Order 6560 of January 15, 1934, and Treasury regulations thereunder. Information covering the principal types of data and the principal countries is reported each month by banks and bankers and securities brokers and dealers in the United States. This information is published regularly in the "Treasury Bulletin". Supplementary information is published at least frequent intervals. All reports are made initially to the Federal Reserve Banks, which forward consolidated figures to the Treasury.
The term "foreigners" as used in these reports covers all institutions and individuals (including United States citizens) domiciled outside the United States, as well as international organizations, wherever domiciled, created by treaty or convention between sovereign states. "Short-term" refers to original maturities of one year or less, and "long-term" refers to all other maturities. A detailed discussion of the reporting coverage, basis of reporting, and derivation of capital movements figures appeared in the April 1950 issue of the "Treasury Bulletin", pages 50-52. Revised report forms and regulations became effective with
the data for January 1950. Attention is called to the fact that although the grand total figures on the revised reporting basis are reasonably comparable with those for preceding months, data for individual countries in some instances are not comparable because of certain changes in coverage and geographical classification.
The supplementary information, contained in Section IV, is presented in three tables appearing at different times. Table 1 gives data by countries on short-term claims on and liabilities to foreigners as reported quarterly by exporters, importers, and industrial and commercial concerns in the United States. This information was published for the first time in the October 1949 issue of the "Treasury Bulletin" 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 bankers in the United States. This table appeared for the first time in the December 1949 issue. Data are for the end of the calendar year beginning with 1942. Table 3 gives information on short-term liabilities to countries not regularly reported separately by banks and bankers. This table appeared for the first time in the April 1950 issue. The data have been requested at irregular intervals, the earliest date being October 1943.
Section I - Summary by Periods
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th>Net capital movement</th><th colspan="4">Analysis of net capital movement in:</th></tr><tr><th></th><th></th><th>Short-term banking funds</th><th>Brokerage balances</th><th>Transactions in domestic securities</th><th>Transactions in foreign securities</th></tr><tr><td>1935-41</td><td>5,354,071</td><td>3,770,922</td><td>100,870</td><td>626,731</td><td>855,548</td></tr><tr><td>1942</td><td>626,121</td><td>583,373</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943</td><td>1,286,893</td><td>1,168,058</td><td>13,372</td><td>27,767</td><td>77,696</td></tr><tr><td>1944</td><td>461,354</td><td>148,594</td><td>8,529</td><td>210,735</td><td>93,496</td></tr><tr><td>1945</td><td>1,074,375</td><td>1,216,303</td><td>17,794</td><td>-113,105</td><td>-46,617</td></tr><tr><td>1946</td><td>-793,324</td><td>-733,909</td><td>9,661</td><td>-334,203</td><td>265,127</td></tr><tr><td>1947</td><td>334,163</td><td>395,524</td><td>-11,318</td><td>-89,055</td><td>39,012</td></tr><tr><td>1948</td><td>225,417</td><td>531,777</td><td>-19,313</td><td>-192,215</td><td>-94,832</td></tr><tr><td>1949</td><td>194,458</td><td>90,845</td><td>610</td><td>75,203</td><td>27,800</td></tr><tr><td>1950</td><td>1,757,618</td><td>950,583</td><td>7,992</td><td>944,430</td><td>-145,387</td></tr><tr><td>1951</td><td>-380,471</td><td>586,948</td><td>-6,141</td><td>-584,289</td><td>-376,989</td></tr><tr><td>1952</td><td>1,242,447</td><td>1,151,236</td><td>-1,800</td><td>314,944</td><td>-221,933</td></tr><tr><td>1952-July</td><td>356,566 r</td><td>318,490 r</td><td>-3,738</td><td>22,924</td><td>18,890</td></tr><tr><td>August</td><td>189,905</td><td>130,036</td><td>-4,102</td><td>32,893</td><td>31,078</td></tr><tr><td>September</td><td>228,593</td><td>223,373</td><td>2,023</td><td>-6,126</td><td>9,323</td></tr><tr><td>October</td><td>82,614</td><td>-114,497</td><td>316</td><td>185,794</td><td>11,001</td></tr><tr><td>November</td><td>129,047</td><td>88,019</td><td>-7,810</td><td>41,783</td><td>7,055</td></tr><tr><td>December</td><td>-184,143</td><td>-171,939</td><td>3,692</td><td>32,183</td><td>-48,079</td></tr><tr><td>1953-January p</td><td>-23,122 r</td><td>-41,943 r</td><td>3,516</td><td>32,882</td><td>-17,577</td></tr><tr><td>February p</td><td>-150,800</td><td>-105,510</td><td>-4,845</td><td>7,399</td><td>-47,844</td></tr></table>
1/ See Table 2, footnote 1.
Preliminary. Revised.
May 1953
59
CAPITAL MOVEMENTS
Section 1 - Summary by Periods
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of period in thousands of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="4">Short-term claims on foreigners</th><th colspan="4">Short-term liabilities to foreigners</th><th rowspan="2">Net short-term liabilities</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Payable in dollars Loans to foreign banks</th><th>Other</th><th>Total</th><th>Payable in dollars Deposits of foreigners</th><th>Other</th><th>Payable in foreign currencies</th></tr><tr><td>1942</td><td>246,673</td><td>30,916</td><td>72,048</td><td>143,709</td><td>4,205,389</td><td>3,523,328</td><td>668,168</td><td>13,893</td><td>3,958,716</td></tr><tr><td>1943</td><td>257,929</td><td>34,387</td><td>86,378</td><td>137,164</td><td>5,374,903</td><td>4,134,412</td><td>1,222,580</td><td>17,911</td><td>5,116,974</td></tr><tr><td>1944</td><td>329,694</td><td>54,603</td><td>105,421</td><td>169,670</td><td>5,596,775</td><td>4,356,501</td><td>1,218,633</td><td>21,641</td><td>5,267,081</td></tr><tr><td>1945</td><td>392,766</td><td>47,489</td><td>100,267</td><td>245,010</td><td>6,883,068</td><td>4,946,624</td><td>1,910,398</td><td>25,546</td><td>6,490,302</td></tr><tr><td>1946</td><td>708,253</td><td>98,119</td><td>319,639</td><td>290,495</td><td>6,480,262</td><td>4,693,911</td><td>1,745,722</td><td>40,629</td><td>5,772,009</td></tr><tr><td>1947</td><td>948,936</td><td>165,439</td><td>292,866</td><td>490,631</td><td>7,116,419</td><td>4,809,245</td><td>2,257,510</td><td>49,664</td><td>6,167,483</td></tr><tr><td>1948</td><td>1,018,700</td><td>100,371</td><td>361,197</td><td>557,132</td><td>7,717,960</td><td>5,209,820</td><td>2,437,751</td><td>70,389</td><td>6,699,260</td></tr><tr><td>1949</td><td>827,854</td><td>110,804</td><td>222,719</td><td>494,331</td><td>7,617,959</td><td>5,073,586</td><td>2,493,334</td><td>51,039</td><td>6,790,105</td></tr><tr><td>1950</td><td>897,966</td><td>240,583</td><td>151,115</td><td>506,268</td><td>8,644,775 1/</td><td>5,503,872 1/</td><td>3,095,992 1/</td><td>44,911</td><td>7,746,809 1/</td></tr><tr><td>1951</td><td>968,443</td><td>91,808</td><td>177,246</td><td>699,389</td><td>9,302,200</td><td>5,382,062</td><td>3,847,912</td><td>72,226</td><td>8,333,757</td></tr><tr><td>1952</td><td>1,048,722</td><td>78,364</td><td>122,866</td><td>847,492</td><td>10,533,715</td><td>5,826,645</td><td>4,645,699</td><td>61,371</td><td>9,444,993</td></tr><tr><td>1952-July</td><td>1,026,209</td><td>64,913</td><td>126,821</td><td>834,475</td><td>10,356,210 r</td><td>5,752,224</td><td>4,524,598 r</td><td>79,388</td><td>9,330,001 r</td></tr><tr><td>August</td><td>1,066,320</td><td>74,427</td><td>149,438</td><td>842,455</td><td>10,526,357 r</td><td>5,794,084</td><td>4,670,187 r</td><td>62,086</td><td>9,460,037 r</td></tr><tr><td>September</td><td>1,023,375</td><td>70,206</td><td>139,718</td><td>813,451</td><td>10,706,785 r</td><td>5,831,960</td><td>4,809,166 r</td><td>65,659</td><td>9,683,410 r</td></tr><tr><td>October</td><td>1,018,652</td><td>74,682</td><td>122,178</td><td>821,792</td><td>10,587,565 r</td><td>5,748,925</td><td>4,774,188 r</td><td>64,452</td><td>9,568,913 r</td></tr><tr><td>November</td><td>1,021,120</td><td>66,290</td><td>119,662</td><td>835,168</td><td>10,678,052 r</td><td>5,935,119</td><td>4,679,138 r</td><td>63,795</td><td>9,656,932 r</td></tr><tr><td>December</td><td>1,048,722</td><td>78,364</td><td>122,866</td><td>847,492</td><td>10,533,715</td><td>5,826,645</td><td>4,645,699</td><td>61,371</td><td>9,444,993</td></tr><tr><td>1953-January p...</td><td>1,036,006</td><td>82,672</td><td>115,639</td><td>837,695</td><td>10,479,056</td><td>5,722,090</td><td>4,704,346</td><td>52,620</td><td>9,443,050</td></tr><tr><td>February p...</td><td>1,033,344</td><td>68,709</td><td>134,740</td><td>829,895</td><td>10,370,834</td><td>5,635,742</td><td>4,680,020</td><td>53,122</td><td>9,337,540</td></tr></table>
1/ Beginning 1950, includes certain deposit balances and other assets which are held in specific trust accounts but which previously had been excluded from reported liabilities.
p Preliminary. r Revised.
Table 3.- Net Movement of Short-Term Banking Funds
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th colspan="3">Short-term claims</th><th colspan="4">Short-term liabilities</th><th>Net movement of short-term banking funds</th></tr><tr><th></th><th>Total</th><th>Payable in foreign currency</th><th>Payable in dollars</th><th>Total</th><th>Payable in dollars</th><th>Payable in foreign currency</th><th></th></tr><tr><th></th><th></th><th></th><th>Loans to foreign banks</th><th>Other</th><th>Deposits of foreigners</th><th>Other</th><th></th></tr><tr><td>1935-41</td><td>736,307</td><td>307,187</td><td>6,409</td><td>422,711</td><td>3,034,615</td><td>2,806,001</td><td>266,156</td><td>-37,542</td><td>3,770,922</td></tr><tr><td>1942</td><td>97,503</td><td>15,933</td><td>20,671</td><td>60,899</td><td>1,85,870</td><td>105,607</td><td>385,365</td><td>-5,102</td><td>583,373</td></tr><tr><td>1943</td><td>-11,256</td><td>-3,471</td><td>-11,330</td><td>6,545</td><td>1,179,314</td><td>620,884</td><td>554,412</td><td>4,018</td><td>1,168,058</td></tr><tr><td>1944</td><td>-71,765</td><td>-20,216</td><td>-19,043</td><td>-32,506</td><td>220,359</td><td>220,576</td><td>-3,947</td><td>3,730</td><td>148,594</td></tr><tr><td>1945</td><td>-63,072</td><td>7,114</td><td>5,154</td><td>-75,340</td><td>1,279,375</td><td>583,205</td><td>692,265</td><td>3,905</td><td>1,216,303</td></tr><tr><td>1946</td><td>-315,487</td><td>-50,630</td><td>-219,372</td><td>-45,485</td><td>-418,422</td><td>-268,854</td><td>-164,651</td><td>15,083</td><td>-733,909</td></tr><tr><td>1947</td><td>-240,683</td><td>-67,320</td><td>26,773</td><td>-200,136</td><td>636,207</td><td>115,384</td><td>511,788</td><td>9,035</td><td>395,524</td></tr><tr><td>1948</td><td>-69,764</td><td>65,068</td><td>-68,331</td><td>-66,501</td><td>601,541</td><td>400,575</td><td>180,241</td><td>20,725</td><td>531,777</td></tr><tr><td>1949</td><td>190,846</td><td>-10,433</td><td>138,478</td><td>62,801</td><td>-100,001</td><td>-136,234</td><td>55,583</td><td>-19,350</td><td>90,845</td></tr><tr><td>1950</td><td>-76,233</td><td>-129,779</td><td>65,483</td><td>-11,937</td><td>1,026,816</td><td>430,286</td><td>602,658</td><td>-6,128</td><td>950,583</td></tr><tr><td>1951</td><td>-70,477</td><td>148,775</td><td>-26,131</td><td>-193,121</td><td>657,425</td><td>-121,810</td><td>751,920</td><td>27,315</td><td>586,948</td></tr><tr><td>1952</td><td>-80,279</td><td>13,444</td><td>54,380</td><td>-148,103</td><td>1,231,515</td><td>444,583</td><td>797,787</td><td>-10,855</td><td>1,151,236</td></tr><tr><td>1952-July</td><td>3,394</td><td>8,463</td><td>9,832</td><td>-14,901</td><td>315,096 r</td><td>34,303</td><td>285,937 r</td><td>-5,144</td><td>318,490 r</td></tr><tr><td>August</td><td>-40,111</td><td>-9,514</td><td>-22,617</td><td>-7,980</td><td>170,147</td><td>41,860</td><td>145,589</td><td>-17,302</td><td>130,036</td></tr><tr><td>September</td><td>42,945</td><td>4,221</td><td>9,720</td><td>29,004</td><td>180,428</td><td>37,876</td><td>138,979</td><td>3,573</td><td>223,373</td></tr><tr><td>October</td><td>4,723</td><td>-4,476</td><td>17,540</td><td>-8,341</td><td>-119,220</td><td>-83,035</td><td>-34,978</td><td>-1,207</td><td>-114,497</td></tr><tr><td>November</td><td>-2,168</td><td>8,392</td><td>2,516</td><td>-13,376</td><td>90,487</td><td>186,194</td><td>-95,050</td><td>-657</td><td>88,019</td></tr><tr><td>December</td><td>-27,602</td><td>-12,074</td><td>-3,204</td><td>-12,324</td><td>-144,337</td><td>-108,474</td><td>-33,439</td><td>-2,424</td><td>-171,939</td></tr><tr><td>1953-January p</td><td>12,716 r</td><td>-4,308 r</td><td>7,227</td><td>9,797 r</td><td>-54,659 r</td><td>-104,555 r</td><td>58,647 r</td><td>-8,751 r</td><td>-41,943 r</td></tr><tr><td>February p</td><td>2,662</td><td>13,963</td><td>-19,101</td><td>7,800</td><td>-108,172</td><td>-86,348</td><td>-22,326</td><td>502</td><td>-105,510</td></tr></table>
1/ See Table 2, footnote 1.
p Preliminary.
r Revised.
60
Treasury Bulletin
CAPITAL MOVEMENTS
Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th colspan="3">Domestic stocks</th><th colspan="3">Domestic bonds</th><th rowspan="2">Total purchases</th><th rowspan="2">Total sales</th><th rowspan="2">Net purchases of domestic securities</th></tr><tr><th></th><th>Purchasee</th><th>Sales</th><th>Net purchasee</th><th>Purchasee</th><th>Sales</th><th>Net purchasee</th></tr><tr><td>1935-11</td><td>430,245 1/</td><td>841,610 1/</td><td>-411,365 1/</td><td>396,768 1/</td><td>492,420 1/</td><td>-95,652 1/</td><td>9,322,066</td><td>8,695,335</td><td>626,731</td></tr><tr><td>1942</td><td>96,383</td><td>75,488</td><td>20,895</td><td>164,218</td><td>138,514</td><td>25,704</td><td>260,601</td><td>214,002</td><td>46,599</td></tr><tr><td>1943</td><td>151,639</td><td>194,616</td><td>-42,977</td><td>241,299</td><td>170,555</td><td>70,744</td><td>392,938</td><td>365,171</td><td>27,767</td></tr><tr><td>1944</td><td>136,853</td><td>171,432</td><td>-34,579</td><td>513,558</td><td>268,244</td><td>245,314</td><td>650,411</td><td>439,676</td><td>210,735</td></tr><tr><td>1949</td><td>260,223</td><td>357,655</td><td>-97,432</td><td>377,717</td><td>393,390</td><td>-15,673</td><td>637,940</td><td>751,045</td><td>-113,105</td></tr><tr><td>1946</td><td>367,649</td><td>432,109</td><td>-64,460</td><td>414,470</td><td>684,213</td><td>-269,743</td><td>782,119</td><td>1,116,322</td><td>-334,203</td></tr><tr><td>1947</td><td>226,089</td><td>376,674</td><td>-150,585</td><td>344,805</td><td>283,275</td><td>61,530</td><td>570,894</td><td>659,949</td><td>-89,055</td></tr><tr><td>1948</td><td>369,736</td><td>514,059</td><td>-144,323</td><td>282,415</td><td>330,307</td><td>-47,892</td><td>652,151</td><td>844,366</td><td>-192,215</td></tr><tr><td>1949</td><td>354,085</td><td>375,303</td><td>-21,218</td><td>430,013</td><td>333,592</td><td>96,421</td><td>784,098</td><td>708,895</td><td>75,203</td></tr><tr><td>1950</td><td>666,941</td><td>664,016</td><td>2,925</td><td>1,344,111</td><td>402,606</td><td>941,505</td><td>2,011,052</td><td>1,066,622</td><td>944,430</td></tr><tr><td>1951</td><td>739,789</td><td>619,457</td><td>120,332</td><td>793,551</td><td>1,498,172</td><td>-704,621</td><td>1,533,340</td><td>2,117,629</td><td>-504,289</td></tr><tr><td>1952</td><td>650,151</td><td>649,197</td><td>954</td><td>733,802</td><td>419,812</td><td>313,990</td><td>1,383,953</td><td>1,069,009</td><td>314,944</td></tr><tr><td>1952-July</td><td>54,436</td><td>48,234</td><td>6,202</td><td>61,453</td><td>44,731</td><td>16,722</td><td>115,889</td><td>92,965</td><td>22,924</td></tr><tr><td>August</td><td>48,115</td><td>43,105</td><td>5,010</td><td>56,935</td><td>29,052</td><td>27,883</td><td>105,050</td><td>72,157</td><td>32,893</td></tr><tr><td>September</td><td>44,696</td><td>64,115</td><td>-19,419</td><td>42,605</td><td>29,312</td><td>13,293</td><td>87,301</td><td>93,427</td><td>-6,126</td></tr><tr><td>October</td><td>50,628</td><td>47,243</td><td>3,385</td><td>215,437</td><td>33,028</td><td>182,409</td><td>266,065</td><td>80,271</td><td>185,794</td></tr><tr><td>November</td><td>52,989</td><td>42,820</td><td>10,169</td><td>66,244</td><td>34,630</td><td>31,614</td><td>119,233</td><td>77,450</td><td>41,783</td></tr><tr><td>December</td><td>75,530</td><td>68,706</td><td>6,824</td><td>63,106</td><td>37,747</td><td>25,359</td><td>138,636</td><td>106,453</td><td>32,183</td></tr><tr><td>1953-January p...</td><td>70,565</td><td>52,487</td><td>18,078</td><td>53,848</td><td>39,044</td><td>14,804</td><td>124,413</td><td>91,531</td><td>32,882</td></tr><tr><td>February p...</td><td>57,919</td><td>45,264</td><td>12,655</td><td>44,843</td><td>50,099</td><td>-5,256</td><td>102,762</td><td>95,363</td><td>7,399</td></tr></table>
1/ January 4, 1940, through December 31, 1941; the breakdown between stocks and bonds is not available for earlier years.
p Preliminary.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures indicates a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th colspan="3">Foreign stocks</th><th colspan="3">Foreign bonds</th><th>Total purchases</th><th>Total sales</th><th>Net purchases of foreign securities</th></tr><tr><th></th><th>Purchases</th><th>Salee</th><th>Net purchases</th><th>Purchasee</th><th>Salee</th><th>Net purchasee</th><th></th><th></th><th></th></tr><tr><td>1935-41</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>4,008,188</td><td>3,152,640</td><td>855,548</td></tr><tr><td>1942</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>220,533</td><td>221,897</td><td>-7,364</td></tr><tr><td>1943</td><td>23,278</td><td>19,791</td><td>3,487</td><td>446,367</td><td>372,158</td><td>74,209</td><td>469,645</td><td>391,949</td><td>77,696</td></tr><tr><td>1944</td><td>26,601</td><td>22,078</td><td>4,523</td><td>314,262</td><td>225,289</td><td>88,973</td><td>340,863</td><td>247,367</td><td>93,496</td></tr><tr><td>1945</td><td>37,328</td><td>54,789</td><td>-17,461</td><td>318,113</td><td>347,269</td><td>-29,156</td><td>355,441</td><td>402,058</td><td>-46,617</td></tr><tr><td>1946</td><td>65,247</td><td>65,610</td><td>-363</td><td>755,936</td><td>490,446</td><td>265,490</td><td>821,183</td><td>556,056</td><td>265,127</td></tr><tr><td>1947</td><td>57,118</td><td>42,558</td><td>14,560</td><td>658,741</td><td>634,289</td><td>24,452</td><td>715,859</td><td>676,847</td><td>39,012</td></tr><tr><td>1948</td><td>81,715</td><td>96,744</td><td>-15,029</td><td>211,621</td><td>291,424</td><td>-79,803</td><td>293,336</td><td>388,168</td><td>-94,832</td></tr><tr><td>1949</td><td>88,815</td><td>70,788</td><td>18,027</td><td>321,243</td><td>311,470</td><td>9,773</td><td>410,058</td><td>382,258</td><td>27,800</td></tr><tr><td>1950</td><td>173,788</td><td>198,168</td><td>-24,380</td><td>589,232</td><td>710,239</td><td>-121,007</td><td>763,020</td><td>908,407</td><td>-145,387</td></tr><tr><td>1951</td><td>272,251</td><td>348,666</td><td>-76,415</td><td>500,449</td><td>801,023</td><td>-300,574</td><td>772,700</td><td>1,149,689</td><td>-376,989</td></tr><tr><td>1952</td><td>289,813</td><td>329,622</td><td>-39,809</td><td>495,258</td><td>677,382</td><td>-182,124</td><td>785,071</td><td>1,007,004</td><td>-221,933</td></tr><tr><td>1952-July</td><td>23,866</td><td>33,007</td><td>-9,141</td><td>52,811</td><td>24,810</td><td>28,031</td><td>76,707</td><td>57,817</td><td>18,890</td></tr><tr><td>August</td><td>24,066</td><td>22,694</td><td>1,372</td><td>57,944</td><td>28,238</td><td>29,706</td><td>82,010</td><td>50,932</td><td>31,078</td></tr><tr><td>September</td><td>24,645</td><td>26,770</td><td>-2,125</td><td>38,946</td><td>27,498</td><td>11,448</td><td>63,591</td><td>54,268</td><td>9,323</td></tr><tr><td>October</td><td>22,066</td><td>20,778</td><td>1,288</td><td>87,550</td><td>77,837</td><td>9,713</td><td>109,616</td><td>98,615</td><td>11,001</td></tr><tr><td>November</td><td>19,527</td><td>16,546</td><td>2,981</td><td>18,181</td><td>14,107</td><td>4,074</td><td>37,708</td><td>30,653</td><td>7,055</td></tr><tr><td>December</td><td>22,761</td><td>20,932</td><td>1,829</td><td>25,747</td><td>75,655</td><td>-49,908</td><td>48,508</td><td>96,587</td><td>-48,079</td></tr><tr><td>1953-January p.</td><td>25,372</td><td>26,100</td><td>-728</td><td>33,041</td><td>49,890</td><td>-16,849</td><td>58,413</td><td>75,990</td><td>-17,577</td></tr><tr><td>February p.</td><td>24,737</td><td>23,370</td><td>1,367</td><td>18,594</td><td>67,805</td><td>-49,211</td><td>43,331</td><td>91,175</td><td>-47,844</td></tr></table>
n.e. Not available.
p Preliminary.
May 1953
61
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 1.- Net Movement of Capital and of Short-Term Banking Funds
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th rowspan="2">Country</th><th colspan="4">Net capital movement</th><th colspan="6">Short-term banking funds</th></tr><tr><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>6,389</td><td>7,205</td><td>6,454</td><td>4,227</td><td>1,344</td><td>2,441</td><td>7,183</td><td>6,454</td><td>4,250</td><td>1,537</td></tr><tr><td>Belgium</td><td>-6,327</td><td>4,735</td><td>-16,665</td><td>2,661 r</td><td>6,133</td><td>-6,382</td><td>3,888</td><td>-14,734</td><td>1,097 r</td><td>6,375</td></tr><tr><td>Czechoslovakia</td><td>-317</td><td>-10</td><td>35</td><td>69</td><td>-104</td><td>-317</td><td>-10</td><td>35</td><td>11</td><td>-38</td></tr><tr><td>Denmark</td><td>9,747</td><td>10,336</td><td>1,896</td><td>-7,876</td><td>-3,430</td><td>9,171</td><td>9,879</td><td>1,722</td><td>-8,161</td><td>-3,810</td></tr><tr><td>Finland</td><td>-263</td><td>-139</td><td>170</td><td>4,825</td><td>-3,598</td><td>-263</td><td>-220</td><td>263</td><td>4,846</td><td>-3,597</td></tr><tr><td>France</td><td>-55,619</td><td>-9,169</td><td>-18,405</td><td>-88,772</td><td>23,670</td><td>-55,707</td><td>-9,207</td><td>-19,087</td><td>-89,775</td><td>23,632</td></tr><tr><td>Germany</td><td>47,142</td><td>12,771</td><td>4,906</td><td>-16,734</td><td>17,364</td><td>47,563</td><td>13,010</td><td>5,015</td><td>-16,894</td><td>17,471</td></tr><tr><td>Greece</td><td>1,381</td><td>1,728</td><td>4,570</td><td>3,397</td><td>3,168</td><td>1,372</td><td>1,576</td><td>4,523</td><td>3,355</td><td>3,202</td></tr><tr><td>Italy</td><td>17,833</td><td>19,350</td><td>-17,895</td><td>-3,131 r</td><td>-30,905</td><td>17,091</td><td>19,644</td><td>-17,877</td><td>-3,507 r</td><td>-31,304</td></tr><tr><td>Netherlands</td><td>35,958</td><td>-43,977</td><td>-141,736</td><td>1,525</td><td>10,348</td><td>39,043</td><td>-42,879</td><td>-140,048</td><td>4,391</td><td>10,761</td></tr><tr><td>Norway</td><td>8,964</td><td>2,863</td><td>1,260</td><td>-2,521</td><td>3,473</td><td>5,784</td><td>-375</td><td>856</td><td>-3,330</td><td>10,157</td></tr><tr><td>Poland</td><td>1,445</td><td>-1,813</td><td>1,630</td><td>-1,156</td><td>2,221</td><td>1,459</td><td>-1,813</td><td>1,631</td><td>-1,199</td><td>2,217</td></tr><tr><td>Portugal</td><td>-4,377</td><td>3,136</td><td>7,594</td><td>-9,579</td><td>4,453</td><td>-4,154</td><td>3,100</td><td>7,557</td><td>-9,532</td><td>4,478</td></tr><tr><td>Rumania</td><td>361</td><td>71</td><td>-75</td><td>72</td><td>-50</td><td>361</td><td>76</td><td>-25</td><td>13</td><td>-50</td></tr><tr><td>Spain</td><td>5,097</td><td>-2,434</td><td>-1,359</td><td>2,841</td><td>2,496</td><td>4,985</td><td>-2,328</td><td>-1,499</td><td>2,777</td><td>2,455</td></tr><tr><td>Sweden</td><td>4,244</td><td>1,982</td><td>6,866</td><td>-3,924</td><td>7,079</td><td>3,956</td><td>2,052</td><td>6,967</td><td>-4,171</td><td>6,821</td></tr><tr><td>Switzerland</td><td>17,335</td><td>7,119</td><td>21,579</td><td>-23,809 r</td><td>1,270</td><td>10,173</td><td>2,494</td><td>16,064</td><td>-37,838 r</td><td>-4,026</td></tr><tr><td>U. S. S. R.</td><td>-269</td><td>-2,741</td><td>-383</td><td>1,824</td><td>-375</td><td>-269</td><td>-2,741</td><td>-383</td><td>1,824</td><td>-375</td></tr><tr><td>United Kingdom</td><td>59,242</td><td>88,102</td><td>-146,125</td><td>72,192 r</td><td>-128,359</td><td>18,589</td><td>88,282</td><td>-157,282</td><td>66,580 r</td><td>-135,885</td></tr><tr><td>Yugoslavia</td><td>-1,794</td><td>521</td><td>-2,042</td><td>848</td><td>1,492</td><td>-1,794</td><td>524</td><td>-2,040</td><td>847</td><td>1,495</td></tr><tr><td>Other Europe</td><td>-748</td><td>-2,373</td><td>883</td><td>-2,594 r</td><td>808</td><td>-1,326</td><td>-2,329</td><td>606</td><td>-2,583 r</td><td>1,796</td></tr><tr><td>Total Europe</td><td>145,224</td><td>97,263</td><td>-286,882</td><td>-65,615 r</td><td>-81,502</td><td>87,776</td><td>89,896</td><td>-301,282</td><td>-86,999 r</td><td>-86,688</td></tr><tr><td>Canada</td><td>-8,036</td><td>17,664</td><td>41,240</td><td>-2,664 r</td><td>-114,219</td><td>-172,144</td><td>-17,025</td><td>70,940</td><td>22,240 r</td><td>-58,094</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>2,217</td><td>13,781</td><td>-6,541</td><td>-6,152</td><td>13,915</td><td>2,589</td><td>13,176</td><td>-6,285</td><td>-6,297</td><td>13,928</td></tr><tr><td>Bolivia</td><td>-2,483</td><td>-1,920</td><td>8,070</td><td>-6,092</td><td>-3,032</td><td>-2,552</td><td>-1,949</td><td>8,059</td><td>-6,122</td><td>-3,039</td></tr><tr><td>Brazil</td><td>2,233</td><td>8,165</td><td>-6,191</td><td>2,864</td><td>-18,365</td><td>1,925</td><td>7,637</td><td>-7,633</td><td>2,592</td><td>-18,963</td></tr><tr><td>Chile</td><td>7,625</td><td>4,766</td><td>4,646</td><td>-174 r</td><td>10,959</td><td>7,631</td><td>4,554</td><td>4,220</td><td>-600 r</td><td>10,781</td></tr><tr><td>Colombia</td><td>-3,010</td><td>7,357</td><td>16,159</td><td>512</td><td>12,966</td><td>-3,167</td><td>7,366</td><td>16,058</td><td>422</td><td>12,704</td></tr><tr><td>Cuba</td><td>-28,572</td><td>3,098</td><td>13,440</td><td>-16,127</td><td>-2,773</td><td>-38,279</td><td>3,938</td><td>15,212</td><td>-16,323</td><td>-3,475</td></tr><tr><td>Dominican Republic</td><td>-3,086</td><td>13</td><td>821</td><td>-813 r</td><td>-1,234</td><td>-3,147</td><td>54</td><td>816</td><td>-834 r</td><td>-1,267</td></tr><tr><td>Guatemala</td><td>-539</td><td>526</td><td>443</td><td>4,061</td><td>2,662</td><td>-609</td><td>574</td><td>438</td><td>4,079</td><td>2,214</td></tr><tr><td>Mexico</td><td>4,809</td><td>16,132</td><td>-16,629</td><td>2,974 r</td><td>-26,148</td><td>2,288</td><td>16,996</td><td>-18,118</td><td>2,582 r</td><td>-26,532</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,888</td><td>2,484</td><td>2,357</td><td>122</td><td>563</td><td>1,617</td><td>2,267</td><td>2,325</td><td>89</td><td>467</td></tr><tr><td>Peru</td><td>4,626</td><td>3,537</td><td>-7,603</td><td>-4,927 r</td><td>3,391</td><td>4,447</td><td>3,445</td><td>-7,682</td><td>4,762 r</td><td>3,337</td></tr><tr><td>Republic of Panama</td><td>2,089</td><td>3,684</td><td>-2,856</td><td>4,066 r</td><td>6,034</td><td>881</td><td>1,564</td><td>-3,961</td><td>5,237 r</td><td>5,896</td></tr><tr><td>El Salvador</td><td>-5,830</td><td>-3,557</td><td>5,532</td><td>15,327</td><td>5,728</td><td>-5,901</td><td>-3,558</td><td>5,523</td><td>15,237</td><td>5,755</td></tr><tr><td>Uruguay</td><td>9,173</td><td>-804</td><td>188</td><td>969 r</td><td>8,045</td><td>9,703</td><td>-651</td><td>-102</td><td>414 r</td><td>7,669</td></tr><tr><td>Venezuela</td><td>-13,495</td><td>-18,522</td><td>19,784</td><td>-18,924</td><td>-20,695</td><td>-14,140</td><td>-17,872</td><td>18,258</td><td>-18,797</td><td>-19,195</td></tr><tr><td>Other Latin America</td><td>-3,583</td><td>-269</td><td>-812</td><td>11,594 r</td><td>9,557</td><td>-3,646</td><td>-272</td><td>-798</td><td>11,687 r</td><td>10,111</td></tr><tr><td>Total Latin America</td><td>-25,938</td><td>38,471</td><td>30,808</td><td>-10,720 r</td><td>1,573</td><td>-40,360</td><td>37,269</td><td>26,330</td><td>-11,439 r</td><td>471</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>-569</td><td>-506</td><td>1,047</td><td>-789 r</td><td>-116</td><td>-594</td><td>-515</td><td>928</td><td>-878 r</td><td>-142</td></tr><tr><td>Formose</td><td>-628</td><td>-2,592</td><td>-4,913</td><td>-2,163 r</td><td>-99</td><td>-729</td><td>-2,551</td><td>-4,790</td><td>-2,298 r</td><td>-87</td></tr><tr><td>Hong Kong</td><td>-514</td><td>179</td><td>1,897</td><td>105 r</td><td>-577</td><td>-1,014</td><td>48</td><td>323</td><td>351 r</td><td>-1,050</td></tr><tr><td>India</td><td>-803</td><td>825</td><td>8,941</td><td>6,388</td><td>5,208</td><td>-812</td><td>722</td><td>8,939</td><td>6,296</td><td>5,206</td></tr><tr><td>Indonesia</td><td>-22,221</td><td>-4,763</td><td>896</td><td>-2,964</td><td>2,881</td><td>-22,581</td><td>-4,748</td><td>870</td><td>-2,966</td><td>2,852</td></tr><tr><td>Iran</td><td>1,001</td><td>-1,364</td><td>431</td><td>-2,645</td><td>-154</td><td>998</td><td>-1,378</td><td>362</td><td>-2,625</td><td>-163</td></tr><tr><td>Israel</td><td>7,009</td><td>-10,754</td><td>-3,407</td><td>-7,831</td><td>-6,277</td><td>9,827</td><td>-7,351</td><td>1,817</td><td>-3,270</td><td>-3,821</td></tr><tr><td>Japan</td><td>2,268</td><td>21,934</td><td>18,781</td><td>14,630</td><td>37,617</td><td>-7,677</td><td>22,006</td><td>18,576</td><td>14,598</td><td>37,500</td></tr><tr><td>Philippines</td><td>1,169</td><td>-3,165</td><td>-4,520</td><td>-12,421</td><td>7,121</td><td>942</td><td>-3,260</td><td>-4,629</td><td>-12,471</td><td>7,089</td></tr><tr><td>Thailand</td><td>9,362</td><td>9,958</td><td>6,546</td><td>6,287</td><td>3,024</td><td>9,091</td><td>9,245</td><td>5,268</td><td>6,395</td><td>3,259</td></tr><tr><td>Turkey</td><td>5,544</td><td>4,884</td><td>6,148</td><td>13,819</td><td>3,888</td><td>5,554</td><td>4,871</td><td>6,146</td><td>13,818</td><td>3,909</td></tr><tr><td>Other Asia</td><td>2,452</td><td>19,456</td><td>-2,458</td><td>-7,752</td><td>-3,379</td><td>2,579</td><td>18,846</td><td>-2,467</td><td>-7,788</td><td>-3,543</td></tr><tr><td>Total Asia</td><td>4,070</td><td>34,092</td><td>29,389</td><td>4,664</td><td>49,137</td><td>-4,416</td><td>35,935</td><td>31,343</td><td>9,162</td><td>50,909</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>-4,253</td><td>-2,990</td><td>-475</td><td>4,930</td><td>4,242</td><td>-4,525</td><td>-3,035</td><td>-1,207</td><td>4,717</td><td>4,005</td></tr><tr><td>Belgian Congo</td><td>6,277</td><td>8,868</td><td>13,813</td><td>-1,673</td><td>2,033</td><td>6,277</td><td>8,868</td><td>13,815</td><td>-1,672</td><td>2,029</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-19,472</td><td>-9,723</td><td>-2,764</td><td>-1,734 r</td><td>-3,271</td><td>-19,540</td><td>-9,717</td><td>-2,703</td><td>-1,730 r</td><td>-3,214</td></tr><tr><td>Union of South Africa</td><td>2,567</td><td>9,552</td><td>822</td><td>12,241 r</td><td>-879</td><td>2,244</td><td>9,493</td><td>1,136</td><td>12,249 r</td><td>2,137</td></tr><tr><td>Other</td><td>958</td><td>-52</td><td>-3,183</td><td>3,354 r</td><td>4,747</td><td>1,428</td><td>459</td><td>-3,181</td><td>2,909 r</td><td>4,787</td></tr><tr><td>Total other countries</td><td>-13,923</td><td>5,655</td><td>8,213</td><td>17,118 r</td><td>6,872</td><td>-14,116</td><td>6,068</td><td>7,860</td><td>16,473 r</td><td>9,744</td></tr><tr><td>International</td><td>-18,733</td><td>-64,098</td><td>-6,951</td><td>34,095 r</td><td>-12,661</td><td>28,763</td><td>-64,124</td><td>-7,130</td><td>8,620 r</td><td>-21,892</td></tr><tr><td>Grand total</td><td>82,614</td><td>129,047</td><td>-184,143</td><td>-23,122 r</td><td>-150,800</td><td>-114,497</td><td>88,019</td><td>-171,939</td><td>-41,943 r</td><td>-105,510</td></tr></table>
p Preliminary. r Revised.
62
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States or net sales by foreigners)
<table><tr><th>Country</th><th colspan="4">Movement in brokerage balances</th><th colspan="6">Transactions in long-term securities, domestic and foreign</th></tr><tr><th></th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>-3</td><td>-</td><td>14</td><td>7</td><td>1</td><td>3,951</td><td>22</td><td>-14</td><td>-30</td><td>-194</td></tr><tr><td>Belgium</td><td>203</td><td>54</td><td>-190</td><td>94</td><td>-314</td><td>-348</td><td>793</td><td>-1,741</td><td>1,470</td><td>72</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>60</td><td>-60</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-5</td></tr><tr><td>Denmark</td><td>182</td><td>30</td><td>-314</td><td>-61</td><td>22</td><td>394</td><td>427</td><td>488</td><td>346</td><td>358</td></tr><tr><td>Finland</td><td>-</td><td>81</td><td>-80</td><td>1</td><td>-1</td><td>-</td><td>-</td><td>-13</td><td>-22</td><td>-</td></tr><tr><td>France</td><td>-187</td><td>-318</td><td>-86</td><td>-569</td><td>119</td><td>275</td><td>356</td><td>768</td><td>1,572</td><td>-81</td></tr><tr><td>Germany</td><td>-191</td><td>-157</td><td>-44</td><td>209</td><td>-92</td><td>-230</td><td>-82</td><td>-65</td><td>-49</td><td>-15</td></tr><tr><td>Greece</td><td>2</td><td>4</td><td>-6</td><td>20</td><td>-7</td><td>7</td><td>148</td><td>53</td><td>22</td><td>-27</td></tr><tr><td>Italy</td><td>-449</td><td>-246</td><td>84</td><td>46</td><td>196</td><td>1,191</td><td>-48</td><td>-102</td><td>330</td><td>203</td></tr><tr><td>Netherlands</td><td>-252</td><td>-476</td><td>669</td><td>700</td><td>-516</td><td>-2,833</td><td>-622</td><td>-2,357</td><td>-3,566</td><td>103</td></tr><tr><td>Norway</td><td>-64</td><td>-161</td><td>473</td><td>-131</td><td>23</td><td>3,244</td><td>3,399</td><td>-69</td><td>940</td><td>-6,707</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-1</td><td>3</td><td>-2</td><td>-14</td><td>-</td><td>-</td><td>40</td><td>6</td></tr><tr><td>Portugal</td><td>-137</td><td>210</td><td>-72</td><td>-41</td><td>-61</td><td>-86</td><td>-174</td><td>109</td><td>-6</td><td>36</td></tr><tr><td>Rumania</td><td>-</td><td>-5</td><td>-54</td><td>59</td><td>-</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>140</td><td>-124</td><td>-21</td><td>-13</td><td>9</td><td>-28</td><td>18</td><td>161</td><td>77</td><td>32</td></tr><tr><td>Sweden</td><td>60</td><td>-89</td><td>-135</td><td>193</td><td>-31</td><td>228</td><td>19</td><td>34</td><td>54</td><td>289</td></tr><tr><td>Switzerland</td><td>-19</td><td>-1,151</td><td>393</td><td>-1,466</td><td>-2,489</td><td>7,181</td><td>5,776</td><td>5,122</td><td>15,495</td><td>7,785</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>1,736</td><td>-1,228</td><td>815</td><td>1,074</td><td>-1,610</td><td>42,917</td><td>1,048</td><td>10,342</td><td>4,538</td><td>9,136</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-3</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-</td><td>-3</td></tr><tr><td>Other Europe</td><td>-121</td><td>389</td><td>95</td><td>156</td><td>79</td><td>699</td><td>-523</td><td>182</td><td>-167</td><td>-1,067</td></tr><tr><td>Total Europe</td><td>900</td><td>-3,190</td><td>1,540</td><td>342</td><td>-4,734</td><td>56,548</td><td>10,557</td><td>12,900</td><td>21,042</td><td>9,920</td></tr><tr><td>Canada</td><td>-1,786</td><td>-1,245</td><td>34</td><td>2,045</td><td>1,133</td><td>165,344</td><td>35,934</td><td>-29,734</td><td>-26,949</td><td>-57,298</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-321</td><td>452</td><td>-269</td><td>202</td><td>-20</td><td>-51</td><td>153</td><td>13</td><td>-57</td><td>7</td></tr><tr><td>Bolivia</td><td>-28</td><td>-8</td><td>1</td><td>24</td><td>-15</td><td>97</td><td>37</td><td>10</td><td>6</td><td>22</td></tr><tr><td>Brazil</td><td>-151</td><td>330</td><td>-213</td><td>-235</td><td>15</td><td>459</td><td>198</td><td>1,655</td><td>507</td><td>583</td></tr><tr><td>Chile</td><td>15</td><td>-44</td><td>173</td><td>29</td><td>167</td><td>-21</td><td>256</td><td>253</td><td>397</td><td>11</td></tr><tr><td>Columbia</td><td>359</td><td>-410</td><td>77</td><td>1,459</td><td>189</td><td>-202</td><td>401</td><td>24</td><td>-1,369</td><td>-7</td></tr><tr><td>Cuba</td><td>174</td><td>-697</td><td>-75</td><td>242</td><td>-366</td><td>9,533</td><td>-143</td><td>-1,697</td><td>-46</td><td>1,068</td></tr><tr><td>Dominican Republic</td><td>52</td><td>-43</td><td>-9</td><td>4</td><td>-1</td><td>9</td><td>2</td><td>14</td><td>17</td><td>34</td></tr><tr><td>Guatemala</td><td>-21</td><td>-68</td><td>99</td><td>12</td><td>-34</td><td>91</td><td>20</td><td>-94</td><td>-30</td><td>48</td></tr><tr><td>Mexico</td><td>281</td><td>-514</td><td>483</td><td>-522</td><td>279</td><td>2,240</td><td>-350</td><td>1,006</td><td>967</td><td>105</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-69</td><td>3</td><td>39</td><td>44</td><td>25</td><td>340</td><td>214</td><td>-7</td><td>-11</td><td>71</td></tr><tr><td>Peru</td><td>33</td><td>33</td><td>42</td><td>-318</td><td>115</td><td>146</td><td>59</td><td>37</td><td>153</td><td>-61</td></tr><tr><td>Republic of Panama</td><td>51</td><td>-472</td><td>437</td><td>-488</td><td>-59</td><td>1,157</td><td>2,592</td><td>668</td><td>-683</td><td>197</td></tr><tr><td>El Salvador</td><td>6</td><td>-</td><td>21</td><td>-8</td><td>-21</td><td>65</td><td>1</td><td>-12</td><td>98</td><td>-6</td></tr><tr><td>Uruguay</td><td>-186</td><td>-163</td><td>53</td><td>89</td><td>534</td><td>-344</td><td>10</td><td>237</td><td>466</td><td>-158</td></tr><tr><td>Venezuela</td><td>225</td><td>-787</td><td>1,435</td><td>112</td><td>-1,631</td><td>420</td><td>137</td><td>91</td><td>-249</td><td>131</td></tr><tr><td>Other Latin America</td><td>-202</td><td>-33</td><td>-233</td><td>88</td><td>-216</td><td>265</td><td>36</td><td>219</td><td>-181</td><td>-338</td></tr><tr><td>Total Latin America</td><td>218</td><td>-2,421</td><td>2,061</td><td>734</td><td>-1,039</td><td>14,204</td><td>3,623</td><td>2,417</td><td>-15</td><td>2,141</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>19</td><td>-3</td><td>15</td><td>-46</td><td>44</td><td>6</td><td>12</td><td>104</td><td>135</td><td>-18</td></tr><tr><td>Formosa</td><td>1</td><td>3</td><td>3</td><td>-10</td><td>-2</td><td>100</td><td>-44</td><td>-126</td><td>145</td><td>-10</td></tr><tr><td>Hong Kong</td><td>279</td><td>-60</td><td>457</td><td>-607</td><td>285</td><td>221</td><td>191</td><td>1,117</td><td>361</td><td>188</td></tr><tr><td>India</td><td>-</td><td>11</td><td>-4</td><td>109</td><td>10</td><td>9</td><td>92</td><td>6</td><td>-17</td><td>-8</td></tr><tr><td>Indonesia</td><td>233</td><td>-1</td><td>-8</td><td>2</td><td>3</td><td>127</td><td>-14</td><td>34</td><td>-</td><td>26</td></tr><tr><td>Iran</td><td>3</td><td>-2</td><td>10</td><td>-21</td><td>12</td><td>-</td><td>16</td><td>59</td><td>1</td><td>-3</td></tr><tr><td>Israel</td><td>10</td><td>-4</td><td>-29</td><td>19</td><td>144</td><td>-2,828</td><td>-3,399</td><td>-5,195</td><td>-4,580</td><td>-2,600</td></tr><tr><td>Japan</td><td>-28</td><td>-26</td><td>2</td><td>10</td><td>-</td><td>9,973</td><td>446</td><td>203</td><td>22</td><td>117</td></tr><tr><td>Philippines</td><td>-6</td><td>12</td><td>3</td><td>-</td><td>-2</td><td>233</td><td>83</td><td>106</td><td>50</td><td>34</td></tr><tr><td>Thailand</td><td>97</td><td>-144</td><td>489</td><td>-156</td><td>118</td><td>174</td><td>857</td><td>789</td><td>48</td><td>-353</td></tr><tr><td>Turkey</td><td>-1</td><td>-1</td><td>-</td><td>3</td><td>-6</td><td>-9</td><td>14</td><td>2</td><td>-2</td><td>-15</td></tr><tr><td>Other Asia</td><td>-27</td><td>70</td><td>-38</td><td>-24</td><td>84</td><td>-100</td><td>540</td><td>47</td><td>60</td><td>180</td></tr><tr><td>Total Asia</td><td>580</td><td>-145</td><td>900</td><td>-721</td><td>690</td><td>7,906</td><td>-1,698</td><td>-2,854</td><td>-3,777</td><td>-2,462</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>-21</td><td>-21</td><td>14</td><td>-5</td><td>-10</td><td>293</td><td>66</td><td>718</td><td>218</td><td>247</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-2</td><td>-1</td><td>3</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>35</td><td>-</td><td>-53</td><td>7</td><td>-7</td><td>33</td><td>-6</td><td>-8</td><td>-11</td><td>-50</td></tr><tr><td>Union of South Africa</td><td>109</td><td>65</td><td>-217</td><td>100</td><td>-23</td><td>214</td><td>-6</td><td>-97</td><td>-108</td><td>-2,993</td></tr><tr><td>Other</td><td>281</td><td>-853</td><td>-587</td><td>1,024</td><td>-856</td><td>-751</td><td>342</td><td>585</td><td>-569</td><td>816</td></tr><tr><td>Total other countries</td><td>404</td><td>-809</td><td>-843</td><td>1,116</td><td>-895</td><td>-211</td><td>396</td><td>1,196</td><td>-471</td><td>-1,977</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-47,496</td><td>26</td><td>179</td><td>25,475</td><td>9,231</td></tr><tr><td>Grand total</td><td>316</td><td>-7,810</td><td>3,692</td><td>3,516</td><td>-4,845</td><td>196,795</td><td>48,838</td><td>-15,896</td><td>15,305</td><td>-40,445</td></tr></table>
p Preliminary.
May 1955
63
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Claims on foreigners</th><th colspan="4">Liabilities to foreigners</th></tr><tr><th></th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>1,004</td><td>1,022</td><td>839</td><td>334</td><td>158</td><td>77,672</td><td>84,873</td><td>91,144</td><td>94,889</td><td>96,250</td></tr><tr><td>Belgium</td><td>13,249</td><td>17,731</td><td>16,203</td><td>16,233</td><td>15,863</td><td>131,798</td><td>140,168</td><td>123,906</td><td>125,033</td><td>131,038</td></tr><tr><td>Czechoslovakia</td><td>5</td><td>5</td><td>3</td><td>1</td><td>2</td><td>545</td><td>535</td><td>568</td><td>577</td><td>540</td></tr><tr><td>Denmark</td><td>2,834</td><td>3,308</td><td>2,084</td><td>3,540</td><td>4,312</td><td>59,559</td><td>69,912</td><td>70,410</td><td>63,705</td><td>60,667</td></tr><tr><td>Finland</td><td>3,813</td><td>4,000</td><td>5,599</td><td>5,088</td><td>4,428</td><td>26,687</td><td>26,654</td><td>28,526</td><td>32,851</td><td>28,594</td></tr><tr><td>France</td><td>9,430</td><td>7,557</td><td>31,883</td><td>28,621</td><td>8,803</td><td>348,422</td><td>337,342</td><td>342,581</td><td>249,544</td><td>253,358</td></tr><tr><td>Germany</td><td>27,990</td><td>25,413</td><td>26,823</td><td>24,052</td><td>27,338</td><td>534,258</td><td>544,691</td><td>551,116</td><td>531,451</td><td>552,208</td></tr><tr><td>Greece</td><td>192</td><td>218</td><td>213</td><td>225</td><td>140</td><td>41,179</td><td>42,781</td><td>47,299</td><td>50,666</td><td>53,783</td></tr><tr><td>Italy</td><td>16,390</td><td>17,213</td><td>17,781</td><td>22,931</td><td>20,213</td><td>305,716</td><td>326,183</td><td>308,874</td><td>310,517</td><td>276,495</td></tr><tr><td>Netherlands</td><td>2,739</td><td>4,444</td><td>4,394</td><td>6,358</td><td>6,194</td><td>384,322</td><td>343,418</td><td>203,050</td><td>209,405</td><td>220,002</td></tr><tr><td>Norway</td><td>1,670</td><td>1,797</td><td>1,923</td><td>1,690</td><td>1,671</td><td>109,603</td><td>109,355</td><td>110,337</td><td>106,774</td><td>116,912</td></tr><tr><td>Poland</td><td>30</td><td>31</td><td>30</td><td>35</td><td>30</td><td>3,630</td><td>1,818</td><td>3,448</td><td>2,254</td><td>4,466</td></tr><tr><td>Portugal</td><td>508</td><td>603</td><td>530</td><td>475</td><td>588</td><td>46,713</td><td>49,908</td><td>57,392</td><td>47,805</td><td>52,396</td></tr><tr><td>Romania</td><td>6</td><td>5</td><td>5</td><td>5</td><td>5</td><td>6,048</td><td>6,123</td><td>6,098</td><td>6,111</td><td>6,061</td></tr><tr><td>Spain</td><td>12,566</td><td>11,835</td><td>11,171</td><td>9,384</td><td>5,726</td><td>24,424</td><td>21,365</td><td>19,202</td><td>20,192</td><td>18,989</td></tr><tr><td>Sweden</td><td>3,336</td><td>3,033</td><td>2,546</td><td>2,567</td><td>2,214</td><td>82,757</td><td>84,506</td><td>90,986</td><td>86,836</td><td>93,304</td></tr><tr><td>Switzerland</td><td>7,950</td><td>9,183</td><td>7,147</td><td>13,499</td><td>13,121</td><td>624,001</td><td>627,728</td><td>641,756</td><td>610,270</td><td>605,866</td></tr><tr><td>U. S. S. R.</td><td>35,822</td><td>33,755</td><td>30,329</td><td>32,529</td><td>35,316</td><td>4,803</td><td>2,062</td><td>1,679</td><td>3,503</td><td>3,421</td></tr><tr><td>United Kingdom</td><td>8,047</td><td>7,865</td><td>8,562</td><td>7,795</td><td>3,880</td><td>890,105r</td><td>976,320r</td><td>815,612</td><td>884,392</td><td>751,294</td></tr><tr><td>Yugoslavia</td><td>3,794</td><td>5,786</td><td>5,376</td><td>6,994</td><td>6,277</td><td>13,021</td><td>13,363</td><td>12,020</td><td>12,100</td><td>9,680</td></tr><tr><td>Other Europe</td><td></td><td></td><td></td><td></td><td></td><td>45,250</td><td>45,003</td><td>45,199</td><td>44,234</td><td>45,313</td></tr><tr><td>Total Europe</td><td>151,375</td><td>154,804</td><td>173,441</td><td>182,356</td><td>156,572</td><td>3,760,513r</td><td>3,853,838r</td><td>3,571,193</td><td>3,493,109</td><td>3,380,637</td></tr><tr><td>Canada</td><td>73,661</td><td>73,837</td><td>62,334</td><td>56,265</td><td>57,486</td><td>1,373,306</td><td>1,356,457</td><td>1,415,894</td><td>1,432,065</td><td>1,375,232</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>8,111</td><td>9,273</td><td>8,188</td><td>7,409</td><td>7,187</td><td>131,856</td><td>146,194</td><td>138,824</td><td>131,748</td><td>145,454</td></tr><tr><td>Bolivia</td><td>6,216</td><td>6,014</td><td>5,840</td><td>6,454</td><td>10,703</td><td>18,719</td><td>16,568</td><td>24,453</td><td>18,945</td><td>20,155</td></tr><tr><td>Brazil</td><td>356,222</td><td>354,457</td><td>356,424</td><td>353,150</td><td>383,101</td><td>72,336</td><td>78,208</td><td>72,542</td><td>71,860</td><td>82,848</td></tr><tr><td>Chile</td><td>18,284</td><td>20,532</td><td>26,384</td><td>23,374</td><td>19,308</td><td>62,423</td><td>69,225</td><td>79,297</td><td>75,687</td><td>82,402</td></tr><tr><td>Colombia</td><td>34,851</td><td>36,018</td><td>41,672</td><td>36,448</td><td>36,795</td><td>87,911</td><td>96,444</td><td>118,156</td><td>113,354</td><td>126,485</td></tr><tr><td>Cuba</td><td>36,129</td><td>30,641</td><td>32,489</td><td>23,532</td><td>30,694</td><td>285,708</td><td>284,158</td><td>301,218</td><td>275,938</td><td>279,625</td></tr><tr><td>Dominican Republic</td><td>1,605</td><td>1,694</td><td>1,636</td><td>1,784</td><td>2,301</td><td>43,313</td><td>43,456</td><td>44,214</td><td>43,528</td><td>42,778</td></tr><tr><td>Guatemala</td><td>3,169</td><td>3,524</td><td>4,242</td><td>4,380</td><td>4,852</td><td>32,228</td><td>33,157</td><td>34,313</td><td>38,530</td><td>41,216</td></tr><tr><td>Mexico</td><td>88,393</td><td>90,330</td><td>88,552</td><td>94,153</td><td>94,552</td><td>232,116</td><td>251,049</td><td>231,153</td><td>239,283</td><td>213,150</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,170</td><td>1,285</td><td>1,349</td><td>1,417</td><td>1,852</td><td>39,541</td><td>41,923</td><td>44,312</td><td>44,469</td><td>45,371</td></tr><tr><td>Peru</td><td>11,671</td><td>13,216</td><td>14,847</td><td>15,670</td><td>17,182</td><td>62,005</td><td>66,995</td><td>60,944</td><td>57,005</td><td>61,854</td></tr><tr><td>Republic of Panama</td><td>4,363</td><td>4,178</td><td>6,544</td><td>8,676</td><td>4,980</td><td>81,051</td><td>88,430</td><td>80,835</td><td>88,204</td><td>90,404</td></tr><tr><td>El Salvador</td><td>7,140</td><td>8,995</td><td>9,137</td><td>8,470</td><td>6,749</td><td>21,595</td><td>19,892</td><td>25,557</td><td>40,127</td><td>44,161</td></tr><tr><td>Uruguay</td><td>14,303</td><td>12,933</td><td>14,341</td><td>14,017</td><td>9,239</td><td>94,842</td><td>92,821</td><td>94,127</td><td>94,217</td><td>97,108</td></tr><tr><td>Venezuela</td><td>33,109</td><td>35,592</td><td>36,653</td><td>34,220</td><td>33,009</td><td>141,576</td><td>126,187</td><td>145,506</td><td>124,286</td><td>103,880</td></tr><tr><td>Other Latin America</td><td>13,850</td><td>13,160</td><td>13,669</td><td>14,310</td><td>14,096</td><td>113,431</td><td>112,469</td><td>112,180</td><td>124,508</td><td>134,405</td></tr><tr><td>Total Latin America</td><td>638,586</td><td>641,842</td><td>661,967</td><td>647,464</td><td>676,600</td><td>1,520,651</td><td>1,561,176</td><td>1,607,631</td><td>1,581,689</td><td>1,611,296</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2,639</td><td>2,639</td><td>2,632</td><td>2,658</td><td>2,658</td><td>37,878</td><td>37,363</td><td>38,284</td><td>37,432</td><td>37,290</td></tr><tr><td>Formosa</td><td>7,450</td><td>7,460</td><td>7,478</td><td>7,722</td><td>7,174</td><td>45,463</td><td>42,922</td><td>38,150</td><td>36,096</td><td>35,461</td></tr><tr><td>Hong Kong</td><td>862</td><td>1,272</td><td>1,219</td><td>1,935</td><td>2,432</td><td>70,192</td><td>70,650</td><td>70,920</td><td>71,987</td><td>71,434</td></tr><tr><td>India</td><td>3,503</td><td>3,665</td><td>4,281</td><td>3,606</td><td>3,264</td><td>54,140</td><td>55,024</td><td>64,579</td><td>70,200</td><td>75,064</td></tr><tr><td>Indonesia</td><td>875</td><td>718</td><td>854</td><td>807</td><td>588</td><td>64,928</td><td>60,023</td><td>61,029</td><td>58,016</td><td>60,449</td></tr><tr><td>Iran</td><td>10,060</td><td>10,230</td><td>10,225</td><td>10,175</td><td>10,154</td><td>20,070</td><td>18,862</td><td>19,219</td><td>16,544</td><td>16,360</td></tr><tr><td>Israel</td><td>18,690</td><td>17,424</td><td>15,116</td><td>25,850</td><td>25,089</td><td>27,874</td><td>19,257</td><td>18,766</td><td>26,230</td><td>21,648</td></tr><tr><td>Japan</td><td>12,582</td><td>12,243</td><td>12,544</td><td>11,508</td><td>15,588</td><td>767,455</td><td>789,122</td><td>807,999</td><td>821,561</td><td>863,141</td></tr><tr><td>Philippines</td><td>6,441</td><td>2,995</td><td>7,581</td><td>10,694</td><td>11,592</td><td>321,805</td><td>315,099</td><td>315,056</td><td>305,698</td><td>313,685</td></tr><tr><td>Thailand</td><td>3,367</td><td>4,048</td><td>3,288</td><td>2,613</td><td>3,031</td><td>166,589</td><td>176,515</td><td>181,023</td><td>186,743</td><td>190,420</td></tr><tr><td>Turkey</td><td>51,010</td><td>47,448</td><td>38,765</td><td>26,668</td><td>21,202</td><td>9,669</td><td>10,978</td><td>8,441</td><td>10,162</td><td>8,605</td></tr><tr><td>Other Asia</td><td>15,303</td><td>17,723</td><td>24,589</td><td>21,629</td><td>21,241</td><td>195,826</td><td>217,092</td><td>221,491</td><td>210,743</td><td>206,712</td></tr><tr><td>Total Asia</td><td>132,782</td><td>127,865</td><td>128,572</td><td>125,865</td><td>124,013</td><td>1,781,889</td><td>1,812,907</td><td>1,844,957</td><td>1,851,412</td><td>1,900,469</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>8,677</td><td>10,026</td><td>10,077</td><td>9,229</td><td>6,432</td><td>50,060</td><td>48,374</td><td>47,218</td><td>51,087</td><td>58,295</td></tr><tr><td>Belgian Congo</td><td>6,742</td><td>6,527</td><td>6,035</td><td>6,974</td><td>6,584</td><td>96,585</td><td>105,238</td><td>118,561</td><td>117,828</td><td>119,467</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>522</td><td>74</td><td>524</td><td>959</td><td>803</td><td>72,140</td><td>61,975</td><td>59,722</td><td>58,427</td><td>55,057</td></tr><tr><td>Union of South Africa</td><td>2,338</td><td>2,562</td><td>1,995</td><td>2,482</td><td>2,080</td><td>13,301</td><td>23,018</td><td>23,587</td><td>36,323</td><td>38,058</td></tr><tr><td>Other</td><td>3,965</td><td>3,583</td><td>3,777</td><td>4,412</td><td>2,774</td><td>89,430</td><td>89,507</td><td>86,520</td><td>90,064</td><td>93,213</td></tr><tr><td>Total other countries</td><td>22,244</td><td>22,772</td><td>22,408</td><td>24,056</td><td>18,673</td><td>321,516</td><td>328,112</td><td>335,608</td><td>353,729</td><td>358,090</td></tr><tr><td>International</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,829,690</td><td>1,765,562</td><td>1,758,432</td><td>1,767,052</td><td>1,745,160</td></tr><tr><td>Grand total</td><td>1,018,652</td><td>1,021,120</td><td>1,048,722</td><td>1,036,006</td><td>1,033,344</td><td>10,587,565r</td><td>10,678,052r</td><td>10,533,715</td><td>10,479,056</td><td>10,370,884</td></tr></table>
p Preliminary. r Revised.
64
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts
position at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Debit balances (due from foreigners)</th><th colspan="4">Credit balances (due to foreigners)</th></tr><tr><th></th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th><th>October</th><th>November</th><th>December</th><th>January p</th><th>February p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>11</td><td>11</td><td>17</td><td>18</td><td>14</td><td>3</td><td>3</td><td>23</td><td>31</td><td>28</td></tr><tr><td>Belgium</td><td>78</td><td>95</td><td>272</td><td>209</td><td>262</td><td>2,930</td><td>3,001</td><td>2,988</td><td>3,019</td><td>2,758</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>60</td><td>-</td></tr><tr><td>Denmark</td><td>67</td><td>59</td><td>300</td><td>339</td><td>340</td><td>212</td><td>234</td><td>161</td><td>139</td><td>162</td></tr><tr><td>Finland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>82</td><td>2</td><td>3</td><td>2</td></tr><tr><td>France</td><td>1,591</td><td>1,952</td><td>1,785</td><td>2,114</td><td>1,991</td><td>3,421</td><td>3,464</td><td>3,211</td><td>2,971</td><td>2,967</td></tr><tr><td>Germany</td><td>275</td><td>422</td><td>473</td><td>252</td><td>346</td><td>65</td><td>55</td><td>62</td><td>50</td><td>52</td></tr><tr><td>Greece</td><td>6</td><td>6</td><td>6</td><td>3</td><td>4</td><td>27</td><td>31</td><td>25</td><td>42</td><td>36</td></tr><tr><td>Italy</td><td>334</td><td>324</td><td>302</td><td>312</td><td>286</td><td>860</td><td>604</td><td>666</td><td>722</td><td>892</td></tr><tr><td>Netherlands</td><td>314</td><td>423</td><td>319</td><td>382</td><td>223</td><td>4,599</td><td>4,232</td><td>4,797</td><td>5,560</td><td>4,885</td></tr><tr><td>Norway</td><td>290</td><td>366</td><td>178</td><td>224</td><td>230</td><td>481</td><td>396</td><td>681</td><td>596</td><td>625</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td></tr><tr><td>Portugal</td><td>56</td><td>1</td><td>21</td><td>27</td><td>71</td><td>137</td><td>292</td><td>240</td><td>205</td><td>188</td></tr><tr><td>Rumania</td><td>2</td><td>2</td><td>61</td><td>2</td><td>2</td><td>13</td><td>8</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Spain</td><td>150</td><td>247</td><td>263</td><td>261</td><td>265</td><td>290</td><td>263</td><td>258</td><td>243</td><td>256</td></tr><tr><td>Sweden</td><td>65</td><td>173</td><td>270</td><td>68</td><td>90</td><td>281</td><td>300</td><td>262</td><td>253</td><td>244</td></tr><tr><td>Switzerland</td><td>5,241</td><td>4,610</td><td>5,294</td><td>5,310</td><td>5,994</td><td>26,208</td><td>24,426</td><td>25,593</td><td>24,053</td><td>22,248</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>3,795</td><td>3,778</td><td>3,490</td><td>2,992</td><td>3,655</td><td>5,860</td><td>4,615</td><td>5,142</td><td>5,718</td><td>4,771</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>17</td><td>14</td><td>14</td><td>15</td><td>15</td></tr><tr><td>Other Europe</td><td>69</td><td>78</td><td>115</td><td>79</td><td>45</td><td>580</td><td>978</td><td>1,110</td><td>1,230</td><td>1,275</td></tr><tr><td>Total Europe</td><td>12,344</td><td>12,547</td><td>13,167</td><td>12,592</td><td>13,818</td><td>45,985</td><td>42,998</td><td>45,158</td><td>44,925</td><td>41,417</td></tr><tr><td>Canada</td><td>6,311</td><td>7,523</td><td>7,269</td><td>8,356</td><td>7,400</td><td>7,359</td><td>7,326</td><td>7,106</td><td>10,238</td><td>10,415</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>423</td><td>388</td><td>564</td><td>320</td><td>333</td><td>1,423</td><td>1,840</td><td>1,747</td><td>1,705</td><td>1,698</td></tr><tr><td>Bolivia</td><td>9</td><td>7</td><td>8</td><td>5</td><td>3</td><td>68</td><td>58</td><td>60</td><td>81</td><td>64</td></tr><tr><td>Brazil</td><td>1,000</td><td>893</td><td>1,049</td><td>1,130</td><td>1,083</td><td>1,175</td><td>1,398</td><td>1,341</td><td>1,187</td><td>1,155</td></tr><tr><td>Chile</td><td>493</td><td>441</td><td>355</td><td>374</td><td>230</td><td>824</td><td>728</td><td>825</td><td>863</td><td>886</td></tr><tr><td>Colombia</td><td>129</td><td>137</td><td>138</td><td>130</td><td>106</td><td>1,982</td><td>1,580</td><td>1,658</td><td>3,109</td><td>3,274</td></tr><tr><td>Cuba</td><td>4,938</td><td>6,050</td><td>6,192</td><td>5,853</td><td>6,257</td><td>1,917</td><td>2,332</td><td>2,399</td><td>2,302</td><td>2,340</td></tr><tr><td>Dominican Republic</td><td>-</td><td>-</td><td>1</td><td>3</td><td>3</td><td>100</td><td>57</td><td>49</td><td>55</td><td>54</td></tr><tr><td>Guatemala</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>263</td><td>194</td><td>293</td><td>305</td><td>271</td></tr><tr><td>Mexico</td><td>2,068</td><td>2,268</td><td>2,059</td><td>2,508</td><td>2,500</td><td>2,392</td><td>2,077</td><td>2,351</td><td>2,278</td><td>2,549</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>88</td><td>55</td><td>31</td><td>28</td><td>30</td><td>180</td><td>150</td><td>165</td><td>206</td><td>233</td></tr><tr><td>Peru</td><td>219</td><td>218</td><td>134</td><td>294</td><td>308</td><td>331</td><td>363</td><td>321</td><td>163</td><td>292</td></tr><tr><td>Republic of Panama</td><td>304</td><td>259</td><td>568</td><td>380</td><td>324</td><td>2,628</td><td>2,111</td><td>2,857</td><td>2,181</td><td>2,066</td></tr><tr><td>El Salvador</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12</td><td>12</td><td>33</td><td>25</td><td>4</td></tr><tr><td>Uruguay</td><td>684</td><td>615</td><td>606</td><td>785</td><td>890</td><td>6,292</td><td>6,060</td><td>6,104</td><td>6,372</td><td>7,011</td></tr><tr><td>Venezuela</td><td>1,227</td><td>1,167</td><td>1,080</td><td>1,596</td><td>1,741</td><td>3,761</td><td>2,914</td><td>4,262</td><td>4,890</td><td>3,404</td></tr><tr><td>Other Latin America</td><td>499</td><td>570</td><td>815</td><td>824</td><td>991</td><td>361</td><td>399</td><td>411</td><td>508</td><td>459</td></tr><tr><td>Total Latin America</td><td>12,083</td><td>13,069</td><td>13,601</td><td>14,231</td><td>14,800</td><td>23,708</td><td>22,273</td><td>24,866</td><td>26,230</td><td>25,760</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2</td><td>2</td><td>2</td><td>48</td><td>1</td><td>54</td><td>51</td><td>66</td><td>66</td><td>63</td></tr><tr><td>Formosa</td><td>30</td><td>28</td><td>21</td><td>34</td><td>33</td><td>7</td><td>8</td><td>4</td><td>7</td><td>4</td></tr><tr><td>Hong Kong</td><td>706</td><td>811</td><td>588</td><td>594</td><td>735</td><td>2,408</td><td>2,453</td><td>2,687</td><td>2,086</td><td>2,512</td></tr><tr><td>India</td><td>94</td><td>95</td><td>96</td><td>37</td><td>35</td><td>25</td><td>37</td><td>34</td><td>84</td><td>92</td></tr><tr><td>Indonesia</td><td>9</td><td>9</td><td>18</td><td>17</td><td>17</td><td>5</td><td>4</td><td>5</td><td>6</td><td>9</td></tr><tr><td>Iren</td><td>2</td><td>2</td><td>2</td><td>8</td><td>1</td><td>8</td><td>6</td><td>16</td><td>1</td><td>6</td></tr><tr><td>Israel</td><td>16</td><td>14</td><td>20</td><td>-</td><td>-</td><td>61</td><td>55</td><td>32</td><td>31</td><td>175</td></tr><tr><td>Japan</td><td>1</td><td>9</td><td>8</td><td>7</td><td>8</td><td>58</td><td>40</td><td>41</td><td>50</td><td>51</td></tr><tr><td>Philippines</td><td>49</td><td>36</td><td>37</td><td>35</td><td>36</td><td>29</td><td>28</td><td>32</td><td>30</td><td>29</td></tr><tr><td>Thailand</td><td>346</td><td>596</td><td>5</td><td>122</td><td>6</td><td>53</td><td>159</td><td>57</td><td>18</td><td>20</td></tr><tr><td>Turkey</td><td>3</td><td>3</td><td>3</td><td>2</td><td>-</td><td>25</td><td>24</td><td>24</td><td>26</td><td>18</td></tr><tr><td>Other Asia</td><td>138</td><td>34</td><td>39</td><td>56</td><td>110</td><td>637</td><td>603</td><td>570</td><td>563</td><td>701</td></tr><tr><td>Total Asia</td><td>1,396</td><td>1,639</td><td>839</td><td>960</td><td>982</td><td>3,370</td><td>3,468</td><td>3,568</td><td>2,968</td><td>3,680</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>7</td><td>14</td><td>8</td><td>14</td><td>15</td><td>41</td><td>27</td><td>35</td><td>36</td><td>27</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>2</td><td>2</td><td>2</td><td>3</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>8</td><td>7</td><td>17</td><td>5</td><td>5</td><td>143</td><td>142</td><td>99</td><td>94</td><td>87</td></tr><tr><td>Union of South Africa</td><td>14</td><td>16</td><td>17</td><td>13</td><td>12</td><td>499</td><td>566</td><td>350</td><td>446</td><td>422</td></tr><tr><td>Other</td><td>60</td><td>191</td><td>607</td><td>347</td><td>411</td><td>2,131</td><td>1,409</td><td>1,238</td><td>1,992</td><td>1,200</td></tr><tr><td>Total other countries</td><td>89</td><td>228</td><td>649</td><td>379</td><td>443</td><td>2,816</td><td>2,146</td><td>1,724</td><td>2,570</td><td>1,739</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>32,223</td><td>35,006</td><td>35,525</td><td>36,518</td><td>37,443</td><td>83,238</td><td>78,211</td><td>82,422</td><td>86,931</td><td>83,011</td></tr></table>
p Preliminary
May 1957
65
CAPITAL MOVEMENTS
Section III - Details for Month of December 1952
Table 1.- Short-Term Claims on Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term claims</th><th colspan="3">Loans to:</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th></tr><tr><th></th><th></th><th>Total</th><th>Foreign banks and official institutions</th><th>Others</th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>839</td><td>839</td><td>267</td><td>1</td><td>4</td><td>567</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>16,203</td><td>15,661</td><td>973</td><td>377</td><td>3,821</td><td>10,490</td><td>542</td><td>448</td><td>1</td><td>94</td></tr><tr><td>Czechoslovakia</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>2,084</td><td>2,033</td><td>25</td><td>-</td><td>196</td><td>1,812</td><td>51</td><td>51</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>5,599</td><td>5,596</td><td>156</td><td>28</td><td>207</td><td>5,205</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>France</td><td>31,883</td><td>8,735</td><td>2,173</td><td>3,619</td><td>1,734</td><td>1,209</td><td>23,148</td><td>20,510</td><td>1,268</td><td>1,370</td></tr><tr><td>Germany</td><td>26,823</td><td>25,720</td><td>11,399</td><td>4,001</td><td>3,733</td><td>6,587</td><td>1,103</td><td>1,100</td><td>3</td><td>-</td></tr><tr><td>Greece</td><td>213</td><td>213</td><td>22</td><td>36</td><td>155</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>17,781</td><td>17,316</td><td>3,338</td><td>4,825</td><td>2,384</td><td>6,769</td><td>465</td><td>296</td><td>15</td><td>154</td></tr><tr><td>Netherlands</td><td>4,394</td><td>4,090</td><td>1,052</td><td>122</td><td>1,027</td><td>1,889</td><td>304</td><td>301</td><td>2</td><td>1</td></tr><tr><td>Norway</td><td>1,923</td><td>1,826</td><td>244</td><td>66</td><td>388</td><td>1,128</td><td>97</td><td>96</td><td>1</td><td>-</td></tr><tr><td>Poland</td><td>30</td><td>30</td><td>-</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>530</td><td>488</td><td>46</td><td>11</td><td>431</td><td>-</td><td>42</td><td>42</td><td>-</td><td>-</td></tr><tr><td>Rumanie</td><td>5</td><td>2</td><td>-</td><td>-</td><td>2</td><td>-</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>11,171</td><td>11,121</td><td>4,371</td><td>68</td><td>848</td><td>5,834</td><td>50</td><td>50</td><td>-</td><td>-</td></tr><tr><td>Sweden</td><td>2,546</td><td>2,242</td><td>215</td><td>117</td><td>1,429</td><td>481</td><td>304</td><td>297</td><td>4</td><td>3</td></tr><tr><td>Switzerland</td><td>7,147</td><td>4,655</td><td>810</td><td>2,159</td><td>1,491</td><td>195</td><td>2,492</td><td>2,434</td><td>11</td><td>27</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>30,329</td><td>8,031</td><td>1,754</td><td>3,990</td><td>1,704</td><td>583</td><td>22,298</td><td>21,761</td><td>302</td><td>235</td></tr><tr><td>Yugoslavia</td><td>8,562</td><td>8,288</td><td>7,728</td><td>-</td><td>560</td><td>-</td><td>274</td><td>1</td><td>273</td><td>-</td></tr><tr><td>Other Europe</td><td>5,376</td><td>5,242</td><td>906</td><td>3,392</td><td>559</td><td>385</td><td>134</td><td>132</td><td>2</td><td>-</td></tr><tr><td>Total Europe</td><td>173,141</td><td>122,128</td><td>35,479</td><td>22,612</td><td>20,703</td><td>43,134</td><td>51,313</td><td>47,547</td><td>1,882</td><td>1,884</td></tr><tr><td>Canada</td><td>62,334</td><td>41,642</td><td>6,043</td><td>23,490</td><td>5,222</td><td>6,887</td><td>20,692</td><td>18,026</td><td>1,388</td><td>1,278</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>8,188</td><td>7,801</td><td>1,068</td><td>1,258</td><td>5,475</td><td>-</td><td>387</td><td>37</td><td>350</td><td>-</td></tr><tr><td>Bolivia</td><td>5,840</td><td>5,818</td><td>3,144</td><td>133</td><td>2,541</td><td>-</td><td>22</td><td>-</td><td>22</td><td>-</td></tr><tr><td>Brazil</td><td>356,424</td><td>356,366</td><td>19,682</td><td>26,596</td><td>271,090</td><td>38,998</td><td>58</td><td>8</td><td>50</td><td>-</td></tr><tr><td>Chile</td><td>26,384</td><td>26,382</td><td>1,283</td><td>2,934</td><td>8,923</td><td>13,242</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>41,672</td><td>41,433</td><td>8,766</td><td>3,526</td><td>16,300</td><td>12,841</td><td>239</td><td>155</td><td>1</td><td>83</td></tr><tr><td>Cuba</td><td>32,489</td><td>32,268</td><td>2,881</td><td>4,119</td><td>10,270</td><td>14,998</td><td>221</td><td>211</td><td>4</td><td>6</td></tr><tr><td>Dominican Republic</td><td>1,636</td><td>1,636</td><td>-</td><td>249</td><td>1,387</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>4,242</td><td>4,242</td><td>1,371</td><td>117</td><td>2,479</td><td>275</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>88,552</td><td>86,394</td><td>29,892</td><td>23,636</td><td>8,460</td><td>24,406</td><td>2,158</td><td>1,047</td><td>75</td><td>1,036</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,349</td><td>1,348</td><td>1</td><td>2</td><td>1,345</td><td>-</td><td>1</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Peru</td><td>14,847</td><td>14,774</td><td>1,210</td><td>254</td><td>10,514</td><td>2,796</td><td>73</td><td>26</td><td>47</td><td>-</td></tr><tr><td>Republic of Panama</td><td>6,544</td><td>6,544</td><td>1,274</td><td>3,154</td><td>1,435</td><td>681</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>9,137</td><td>9,137</td><td>48</td><td>1,457</td><td>2,113</td><td>5,519</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>14,341</td><td>14,324</td><td>7,823</td><td>934</td><td>2,160</td><td>3,407</td><td>17</td><td>16</td><td>1</td><td>-</td></tr><tr><td>Venezuela</td><td>36,653</td><td>36,086</td><td>3,222</td><td>6,869</td><td>20,313</td><td>5,682</td><td>567</td><td>335</td><td>12</td><td>220</td></tr><tr><td>Other Latin America</td><td>13,669</td><td>13,633</td><td>433</td><td>1,055</td><td>11,284</td><td>861</td><td>36</td><td>30</td><td>6</td><td>-</td></tr><tr><td>Total Latin America</td><td>661,967</td><td>658,186</td><td>82,098</td><td>76,293</td><td>376,089</td><td>123,706</td><td>3,781</td><td>1,867</td><td>569</td><td>1,345</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2,632</td><td>2,626</td><td>2,612</td><td>-</td><td>12</td><td>2</td><td>6</td><td>6</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>7,478</td><td>7,478</td><td>5,411</td><td>2,040</td><td>2</td><td>25</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>1,219</td><td>1,093</td><td>189</td><td>323</td><td>581</td><td>176</td><td>126</td><td>126</td><td>-</td><td>-</td></tr><tr><td>India</td><td>4,281</td><td>3,459</td><td>1,017</td><td>1</td><td>2,265</td><td>120</td><td>822</td><td>806</td><td>10</td><td>6</td></tr><tr><td>Indonesia</td><td>854</td><td>854</td><td>111</td><td>-</td><td>623</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>10,225</td><td>10,210</td><td>347</td><td>3</td><td>9,860</td><td>15</td><td>15</td><td>-</td><td>15</td><td>-</td></tr><tr><td>Israel</td><td>15,116</td><td>15,115</td><td>5,347</td><td>1,422</td><td>2,180</td><td>6,166</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>12,544</td><td>12,499</td><td>5,264</td><td>4,347</td><td>2,880</td><td>8</td><td>45</td><td>6</td><td>39</td><td>-</td></tr><tr><td>Philippine</td><td>7,581</td><td>7,495</td><td>4,633</td><td>250</td><td>2,612</td><td>-</td><td>86</td><td>55</td><td>22</td><td>9</td></tr><tr><td>Thailand</td><td>3,288</td><td>3,288</td><td>1,856</td><td>2</td><td>1,430</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>38,765</td><td>38,760</td><td>38,304</td><td>58</td><td>398</td><td>-</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>24,589</td><td>24,458</td><td>20,915</td><td>490</td><td>3,053</td><td>131</td><td>131</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>128,572</td><td>127,335</td><td>86,006</td><td>8,936</td><td>25,896</td><td>6,497</td><td>1,237</td><td>1,136</td><td>86</td><td>15</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>10,077</td><td>8,875</td><td>334</td><td>42</td><td>3,251</td><td>5,248</td><td>1,202</td><td>1,016</td><td>186</td><td>-</td></tr><tr><td>Belgian Congo</td><td>6,035</td><td>6,022</td><td>-</td><td>9</td><td>5,002</td><td>1,011</td><td>13</td><td>13</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>524</td><td>512</td><td>481</td><td>31</td><td>31</td><td>85</td><td>12</td><td>11</td><td>1</td><td>-</td></tr><tr><td>Union of South Africa</td><td>1,995</td><td>1,963</td><td>15</td><td>3</td><td>1,860</td><td>400</td><td>32</td><td>25</td><td>7</td><td>-</td></tr><tr><td>Other</td><td>3,777</td><td>3,695</td><td>314</td><td>129</td><td>2,852</td><td>82</td><td>82</td><td>81</td><td>1</td><td>-</td></tr><tr><td>Total other countries</td><td>22,408</td><td>21,067</td><td>1,144</td><td>183</td><td>12,996</td><td>6,744</td><td>1,341</td><td>1,146</td><td>195</td><td>-</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>1,048,722</td><td>970,358</td><td>210,770</td><td>131,714</td><td>440,906</td><td>186,968</td><td>78,364</td><td>69,722</td><td>4,120</td><td>4,522</td></tr></table>
66
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of December 1952
Table 2.-- Short-Term Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term liabilities</th><th colspan="4">To foreign banks and official institutions</th><th colspan="4">To all other foreigners</th><th colspan="4">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>91,144</td><td>89,913</td><td>41,961</td><td>3,200</td><td>44,752</td><td>1,231</td><td>1,221</td><td>10</td><td>5,091</td><td>350</td><td>345</td><td>5</td></tr><tr><td>Belgium</td><td>123,906</td><td>61,554</td><td>33,527</td><td>1,716</td><td>26,311</td><td>62,002</td><td>53,274</td><td>3,637</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>568</td><td>172</td><td>167</td><td>-</td><td>5</td><td>396</td><td>396</td><td>-</td><td>874</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Denmark</td><td>70,410</td><td>61,262</td><td>14,765</td><td>44,975</td><td>1,522</td><td>9,141</td><td>7,632</td><td>635</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>28,516</td><td>26,261</td><td>24,374</td><td>500</td><td>1,387</td><td>2,255</td><td>2,255</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>342,581</td><td>281,860</td><td>186,926</td><td>82,576</td><td>12,358</td><td>59,301</td><td>55,177</td><td>3,753</td><td>371</td><td>1,420</td><td>1,403</td><td>17</td></tr><tr><td>Germany</td><td>551,116</td><td>547,725</td><td>262,162</td><td>245,000</td><td>40,563</td><td>3,356</td><td>3,067</td><td>43</td><td>246</td><td>35</td><td>5</td><td>30</td></tr><tr><td>Greece</td><td>47,299</td><td>38,316</td><td>28,148</td><td>10,000</td><td>168</td><td>8,981</td><td>6,859</td><td>2,050</td><td>72</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Italy</td><td>308,874</td><td>273,615</td><td>143,708</td><td>104,306</td><td>25,601</td><td>35,228</td><td>24,787</td><td>9,686</td><td>755</td><td>31</td><td>25</td><td>6</td></tr><tr><td>Netherlands</td><td>203,050</td><td>182,281</td><td>97,677</td><td>78,853</td><td>5,751</td><td>20,741</td><td>18,548</td><td>2,144</td><td>49</td><td>28</td><td>4</td><td>24</td></tr><tr><td>Norway</td><td>110,337</td><td>87,573</td><td>31,385</td><td>48,054</td><td>8,134</td><td>22,761</td><td>20,893</td><td>808</td><td>1,060</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Poland</td><td>3,448</td><td>2,919</td><td>2,917</td><td>-</td><td>2</td><td>529</td><td>527</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>57,392</td><td>42,991</td><td>42,391</td><td>198</td><td>402</td><td>14,400</td><td>14,339</td><td>19</td><td>22</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Romania</td><td>6,098</td><td>4,752</td><td>4,752</td><td>-</td><td>-</td><td>1,337</td><td>1,337</td><td>-</td><td>9</td><td>9</td><td>-</td><td>9</td></tr><tr><td>Spain</td><td>19,202</td><td>10,259</td><td>9,831</td><td>-</td><td>428</td><td>8,940</td><td>8,804</td><td>130</td><td>6</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Sweden</td><td>90,986</td><td>83,833</td><td>49,065</td><td>14,125</td><td>20,643</td><td>7,141</td><td>6,685</td><td>455</td><td>1</td><td>12</td><td>12</td><td>-</td></tr><tr><td>Switzerland</td><td>641,756</td><td>506,572</td><td>300,981</td><td>105,515</td><td>100,075</td><td>132,937</td><td>99,680</td><td>6,463</td><td>26,794</td><td>2,248</td><td>2,127</td><td>121</td></tr><tr><td>U. S. S. R.</td><td>1,679</td><td>1,338</td><td>1,331</td><td>-</td><td>7</td><td>341</td><td>341</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>815,612</td><td>527,135</td><td>324,196</td><td>187,265</td><td>15,674</td><td>255,626</td><td>162,630</td><td>92,666</td><td>330</td><td>32,851</td><td>32,695</td><td>156</td></tr><tr><td>Yugoslavia</td><td>12,020</td><td>11,349</td><td>7,452</td><td>-</td><td>3,897</td><td>671</td><td>671</td><td>-</td><td>651</td><td>21</td><td>21</td><td>-</td></tr><tr><td>Other Europe</td><td>45,199</td><td>33,830</td><td>27,293</td><td>5,893</td><td>644</td><td>11,348</td><td>10,273</td><td>424</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total Europe</td><td>3,571,193</td><td>2,875,509</td><td>1,635,009</td><td>932,176</td><td>308,324</td><td>658,663</td><td>499,416</td><td>122,923</td><td>36,324</td><td>37,021</td><td>36,651</td><td>370</td></tr><tr><td>Canada</td><td>1,415,894</td><td>1,161,810</td><td>323,869</td><td>821,466</td><td>16,475</td><td>233,964</td><td>172,761</td><td>60,408</td><td>795</td><td>20,120</td><td>19,588</td><td>532</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>138,824</td><td>100,373</td><td>97,472</td><td>239</td><td>2,662</td><td>38,408</td><td>38,269</td><td>120</td><td>19</td><td>43</td><td>28</td><td>15</td></tr><tr><td>Bolivia</td><td>24,453</td><td>13,975</td><td>13,909</td><td>-</td><td>66</td><td>10,478</td><td>10,459</td><td>13</td><td>6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>72,542</td><td>35,125</td><td>27,334</td><td>-</td><td>7,791</td><td>37,378</td><td>37,077</td><td>34</td><td>267</td><td>39</td><td>39</td><td>-</td></tr><tr><td>Chile</td><td>79,297</td><td>50,162</td><td>50,063</td><td>-</td><td>99</td><td>29,105</td><td>29,045</td><td>32</td><td>28</td><td>30</td><td>27</td><td>3</td></tr><tr><td>Colombia</td><td>118,156</td><td>82,913</td><td>81,475</td><td>-</td><td>1,438</td><td>35,242</td><td>34,814</td><td>423</td><td>5</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Cuba</td><td>301,218</td><td>240,953</td><td>114,360</td><td>113,000</td><td>13,593</td><td>60,265</td><td>59,787</td><td>277</td><td>201</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dominican Republic</td><td>44,214</td><td>29,613</td><td>29,083</td><td>-</td><td>530</td><td>14,601</td><td>14,553</td><td>48</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>34,313</td><td>16,429</td><td>10,454</td><td>2,300</td><td>3,675</td><td>17,884</td><td>17,213</td><td>600</td><td>71</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>231,153</td><td>139,162</td><td>136,905</td><td>-</td><td>2,257</td><td>91,689</td><td>79,293</td><td>12,213</td><td>183</td><td>302</td><td>22</td><td>280</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>44,312</td><td>35,254</td><td>19,604</td><td>13,500</td><td>2,150</td><td>9,058</td><td>8,985</td><td>-</td><td>73</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>60,944</td><td>23,885</td><td>23,688</td><td>-</td><td>197</td><td>37,059</td><td>36,927</td><td>129</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Republic of Panama</td><td>80,835</td><td>29,358</td><td>29,355</td><td>-</td><td>3</td><td>51,477</td><td>42,593</td><td>4,539</td><td>4,345</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>25,557</td><td>18,987</td><td>7,741</td><td>7,000</td><td>246</td><td>10,570</td><td>9,806</td><td>9</td><td>755</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>94,127</td><td>28,206</td><td>22,088</td><td>400</td><td>5,718</td><td>65,872</td><td>57,858</td><td>191</td><td>7,822</td><td>50</td><td>34</td><td>16</td></tr><tr><td>Venezuela</td><td>145,506</td><td>92,121</td><td>92,053</td><td>-</td><td>68</td><td>53,115</td><td>49,077</td><td>3,940</td><td>98</td><td>270</td><td>270</td><td>-</td></tr><tr><td>Other Latin America</td><td>112,180</td><td>79,462</td><td>61,257</td><td>3,643</td><td>14,562</td><td>32,444</td><td>31,112</td><td>1,196</td><td>66</td><td>274</td><td>274</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,607,631</td><td>1,011,978</td><td>816,841</td><td>140,082</td><td>55,055</td><td>594,644</td><td>556,938</td><td>23,764</td><td>13,942</td><td>1,009</td><td>695</td><td>314</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>38,284</td><td>28,479</td><td>27,885</td><td>342</td><td>252</td><td>9,805</td><td>9,303</td><td>502</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Parmosa</td><td>38,150</td><td>30,737</td><td>29,627</td><td>1,110</td><td>-</td><td>7,413</td><td>7,413</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>70,920</td><td>28,204</td><td>27,731</td><td>200</td><td>273</td><td>42,578</td><td>42,360</td><td>18</td><td>200</td><td>138</td><td>138</td><td>-</td></tr><tr><td>India</td><td>64,579</td><td>60,747</td><td>37,256</td><td>21,590</td><td>1,901</td><td>3,613</td><td>3,613</td><td>-</td><td>-</td><td>219</td><td>219</td><td>-</td></tr><tr><td>Indonesia</td><td>61,029</td><td>60,010</td><td>42,371</td><td>16,835</td><td>804</td><td>1,019</td><td>1,019</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>19,219</td><td>12,039</td><td>11,769</td><td>-</td><td>270</td><td>7,180</td><td>7,177</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>18,766</td><td>16,195</td><td>16,107</td><td>61</td><td>27</td><td>2,571</td><td>1,878</td><td>693</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>807,999</td><td>792,513</td><td>770,700</td><td>21,239</td><td>574</td><td>15,486</td><td>15,483</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>315,056</td><td>295,449</td><td>281,445</td><td>6,030</td><td>9,974</td><td>19,575</td><td>19,525</td><td>50</td><td>-</td><td>32</td><td>32</td><td>-</td></tr><tr><td>Thailand</td><td>181,023</td><td>177,176</td><td>12,806</td><td>164,059</td><td>311</td><td>3,847</td><td>3,847</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>8,441</td><td>3,904</td><td>3,850</td><td>-</td><td>54</td><td>4,537</td><td>4,534</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>221,491</td><td>186,967</td><td>155,111</td><td>23,306</td><td>8,590</td><td>34,250</td><td>33,765</td><td>60</td><td>425</td><td>274</td><td>274</td><td>-</td></tr><tr><td>Total Asia</td><td>1,844,957</td><td>1,692,420</td><td>1,416,658</td><td>252,772</td><td>22,990</td><td>151,874</td><td>149,917</td><td>1,323</td><td>634</td><td>663</td><td>663</td><td>-</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>47,218</td><td>43,600</td><td>19,980</td><td>21,750</td><td>1,870</td><td>2,659</td><td>2,653</td><td>-</td><td>6</td><td>959</td><td>959</td><td>-</td></tr><tr><td>Belgian Congo</td><td>118,561</td><td>117,574</td><td>25,428</td><td>83,725</td><td>8,421</td><td>987</td><td>650</td><td>-</td><td>337</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>59,722</td><td>55,640</td><td>20,002</td><td>35,600</td><td>38</td><td>4,081</td><td>4,081</td><td>-</td><td>-</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Union of South Africa</td><td>23,587</td><td>20,259</td><td>10,750</td><td>9,500</td><td>9</td><td>2,119</td><td>2,112</td><td>5</td><td>2</td><td>1,209</td><td>1,209</td><td>1</td></tr><tr><td>Other</td><td>86,520</td><td>64,778</td><td>57,247</td><td>820</td><td>6,711</td><td>21,353</td><td>19,259</td><td>373</td><td>1,721</td><td>389</td><td>382</td><td>7</td></tr><tr><td>Total other countries</td><td>335,608</td><td>301,851</td><td>133,407</td><td>152,395</td><td>17,049</td><td>31,199</td><td>28,755</td><td>378</td><td>2,066</td><td>2,558</td><td>2,550</td><td>8</td></tr><tr><td>International</td><td>1,758,432</td><td>1,758,432</td><td>93,074</td><td>1,620,914</td><td>44,444</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>10,533,715</td><td>8,802,000</td><td>4,418,858</td><td>3,918,805</td><td>464,337</td><td>1,670,344</td><td>1,407,787</td><td>208,796</td><td>53,761</td><td>61,371</td><td>60,147</td><td>1,224</td></tr></table>
May 1955
67
CAPITAL MOVEMENTS
Section III - Details for Month of December 1952
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th rowspan="2">Country</th><th colspan="5">Purchases by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th>Total purchases</th><th>U.S. Government bonds and notes</th><th>Corporate and other bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>18</td><td>-</td><td>-</td><td>18</td><td>-</td><td>-</td><td>32</td><td>-</td><td>4</td><td>20</td><td>1</td><td>7</td></tr><tr><td>Belgium</td><td>4,588</td><td>905</td><td>389</td><td>2,085</td><td>886</td><td>323</td><td>6,329</td><td>900</td><td>568</td><td>3,434</td><td>1,217</td><td>210</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>1,063</td><td>35</td><td>119</td><td>566</td><td>332</td><td>11</td><td>575</td><td>2</td><td>21</td><td>512</td><td>40</td><td>1</td></tr><tr><td>Finland</td><td>7</td><td>-</td><td>-</td><td>-</td><td>7</td><td>-</td><td>20</td><td>-</td><td>-</td><td>19</td><td>-</td><td>-</td></tr><tr><td>France</td><td>5,720</td><td>352</td><td>400</td><td>3,117</td><td>1,041</td><td>810</td><td>4,952</td><td>117</td><td>319</td><td>2,259</td><td>1,237</td><td>1,020</td></tr><tr><td>Germany</td><td>66</td><td>-</td><td>20</td><td>46</td><td>-</td><td>-</td><td>131</td><td>-</td><td>-</td><td>40</td><td>-</td><td>91</td></tr><tr><td>Greece</td><td>86</td><td>-</td><td>-</td><td>79</td><td>-</td><td>7</td><td>33</td><td>11</td><td>-</td><td>22</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>737</td><td>3</td><td>71</td><td>443</td><td>215</td><td>5</td><td>839</td><td>44</td><td>39</td><td>727</td><td>24</td><td>5</td></tr><tr><td>Netherlands</td><td>3,425</td><td>1</td><td>274</td><td>1,861</td><td>597</td><td>692</td><td>5,782</td><td>157</td><td>202</td><td>3,247</td><td>687</td><td>789</td></tr><tr><td>Norway</td><td>562</td><td>3</td><td>7</td><td>437</td><td>90</td><td>25</td><td>631</td><td>-</td><td>10</td><td>570</td><td>30</td><td>21</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>510</td><td>11</td><td>-</td><td>61</td><td>216</td><td>222</td><td>401</td><td>-</td><td>-</td><td>46</td><td>346</td><td>9</td></tr><tr><td>Romania</td><td>4</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>207</td><td>-</td><td>70</td><td>116</td><td>7</td><td>14</td><td>46</td><td>7</td><td>1</td><td>31</td><td>7</td><td>-</td></tr><tr><td>Sweden</td><td>170</td><td>-</td><td>-</td><td>108</td><td>4</td><td>58</td><
68
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of February 1953
Table 1.- Short-Term Claims on Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term claims</th><th colspan="3">Short-term claims payable in dollars</th><th colspan="4">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>158</td><td>158</td><td>149</td><td>2</td><td>7</td><td>-</td><td>483</td><td>444</td><td>-</td><td>39</td></tr><tr><td>Belgium</td><td>15,863</td><td>15,380</td><td>991</td><td>361</td><td>3,953</td><td>10,075</td><td>55</td><td>54</td><td>1</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>2</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Denmark</td><td>4,312</td><td>4,257</td><td>64</td><td>-</td><td>217</td><td>3,976</td><td>55</td><td>54</td><td>1</td><td>-</td></tr><tr><td>Finland</td><td>4,428</td><td>4,426</td><td>180</td><td>34</td><td>163</td><td>4,049</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>France</td><td>8,803</td><td>5,743</td><td>1,526</td><td>2,016</td><td>751</td><td>1,450</td><td>3,060</td><td>581</td><td>798</td><td>1,681</td></tr><tr><td>Germany</td><td>27,338</td><td>25,474</td><td>12,145</td><td>4,014</td><td>3,268</td><td>6,047</td><td>1,864</td><td>1,861</td><td>3</td><td>-</td></tr><tr><td>Greece</td><td>140</td><td>140</td><td>20</td><td>37</td><td>83</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>20,213</td><td>19,893</td><td>1,415</td><td>7,097</td><td>2,499</td><td>8,882</td><td>320</td><td>236</td><td>13</td><td>71</td></tr><tr><td>Netherlands</td><td>6,194</td><td>5,317</td><td>365</td><td>34</td><td>1,162</td><td>3,756</td><td>877</td><td>849</td><td>28</td><td>-</td></tr><tr><td>Norway</td><td>1,671</td><td>1,572</td><td>73</td><td>72</td><td>467</td><td>960</td><td>99</td><td>99</td><td>-</td><td>-</td></tr><tr><td>Poland</td><td>30</td><td>30</td><td>-</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>588</td><td>505</td><td>122</td><td>21</td><td>362</td><td>-</td><td>83</td><td>82</td><td>1</td><td>-</td></tr><tr><td>Romania</td><td>5</td><td>2</td><td>-</td><td>-</td><td>2</td><td>-</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>5,726</td><td>5,668</td><td>771</td><td>103</td><td>949</td><td>3,845</td><td>58</td><td>58</td><td>-</td><td>-</td></tr><tr><td>Sweden</td><td>2,214</td><td>1,975</td><td>67</td><td>160</td><td>1,176</td><td>572</td><td>239</td><td>238</td><td>1</td><td>-</td></tr><tr><td>Switzerland</td><td>13,121</td><td>9,289</td><td>1,355</td><td>5,881</td><td>1,721</td><td>332</td><td>3,832</td><td>3,803</td><td>2</td><td>27</td></tr><tr><td>U.S.S.R.</td><td>293</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>293</td><td>293</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>35,316</td><td>10,501</td><td>3,392</td><td>3,823</td><td>2,366</td><td>920</td><td>24,815</td><td>24,120</td><td>349</td><td>346</td></tr><tr><td>Yugoslavia</td><td>3,880</td><td>3,879</td><td>3,874</td><td>-</td><td>5</td><td>-</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>6,277</td><td>6,143</td><td>862</td><td>4,330</td><td>273</td><td>378</td><td>134</td><td>132</td><td>2</td><td>-</td></tr><tr><td>Total Europe</td><td>156,572</td><td>120,353</td><td>27,371</td><td>27,985</td><td>19,755</td><td>45,242</td><td>36,219</td><td>32,856</td><td>1,199</td><td>2,164</td></tr><tr><td>Canada</td><td>57,486</td><td>31,693</td><td>4,255</td><td>12,575</td><td>4,850</td><td>10,013</td><td>25,793</td><td>22,143</td><td>1,892</td><td>1,758</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>7,187</td><td>6,963</td><td>432</td><td>1,292</td><td>5,239</td><td>-</td><td>224</td><td>46</td><td>178</td><td>-</td></tr><tr><td>Bolivia</td><td>10,703</td><td>10,682</td><td>7,935</td><td>118</td><td>2,629</td><td>-</td><td>21</td><td>1</td><td>21</td><td>-</td></tr><tr><td>Brazil</td><td>383,101</td><td>383,015</td><td>24,268</td><td>25,555</td><td>270,855</td><td>62,337</td><td>86</td><td>1</td><td>44</td><td>41</td></tr><tr><td>Chile</td><td>19,308</td><td>19,307</td><td>8,355</td><td>2,351</td><td>7,071</td><td>1,530</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>36,795</td><td>36,582</td><td>7,543</td><td>3,238</td><td>14,718</td><td>11,083</td><td>213</td><td>155</td><td>9</td><td>49</td></tr><tr><td>Cuba</td><td>30,694</td><td>30,268</td><td>3,089</td><td>6,744</td><td>9,308</td><td>11,127</td><td>426</td><td>318</td><td>108</td><td>-</td></tr><tr><td>Dominican Republic</td><td>2,301</td><td>2,301</td><td>-</td><td>766</td><td>1,535</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>4,852</td><td>4,852</td><td>1,782</td><td>103</td><td>2,517</td><td>450</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>94,552</td><td>92,262</td><td>31,768</td><td>19,617</td><td>8,585</td><td>32,292</td><td>2,290</td><td>1,056</td><td>37</td><td>1,197</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,852</td><td>1,613</td><td>13</td><td>241</td><td>1,359</td><td>-</td><td>239</td><td>239</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>17,182</td><td>17,085</td><td>3,690</td><td>252</td><td>9,733</td><td>3,410</td><td>97</td><td>49</td><td>48</td><td>-</td></tr><tr><td>Republic of Panama</td><td>4,980</td><td>4,979</td><td>331</td><td>2,545</td><td>1,216</td><td>887</td><td>1</td><td>-</td><td>1</td><td>-</td></tr><tr><td>El Salvador</td><td>6,749</td><td>6,749</td><td>78</td><td>1,124</td><td>1,989</td><td>3,558</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>9,239</td><td>8,866</td><td>5,104</td><td>1,081</td><td>1,859</td><td>822</td><td>373</td><td>373</td><td>-</td><td>-</td></tr><tr><td>Venezuela</td><td>33,009</td><td>32,582</td><td>1,981</td><td>7,259</td><td>18,406</td><td>4,936</td><td>427</td><td>200</td><td>3</td><td>224</td></tr><tr><td>Other Latin America</td><td>14,096</td><td>14,069</td><td>1,046</td><td>883</td><td>11,313</td><td>927</td><td>27</td><td>17</td><td>10</td><td>-</td></tr><tr><td>Total Latin America</td><td>676,600</td><td>672,175</td><td>97,413</td><td>73,169</td><td>368,332</td><td>133,259</td><td>4,425</td><td>2,455</td><td>459</td><td>1,511</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2,658</td><td>2,652</td><td>2,635</td><td>-</td><td>15</td><td>2</td><td>6</td><td>6</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>7,174</td><td>7,174</td><td>5,626</td><td>1,540</td><td>-</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>2,432</td><td>2,361</td><td>1,495</td><td>308</td><td>558</td><td>-</td><td>71</td><td>71</td><td>-</td><td>-</td></tr><tr><td>India</td><td>3,264</td><td>2,730</td><td>698</td><td>1</td><td>2,031</td><td>-</td><td>534</td><td>528</td><td>6</td><td>-</td></tr><tr><td>Indonesia</td><td>588</td><td>588</td><td>135</td><td>-</td><td>393</td><td>60</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>10,154</td><td>10,146</td><td>-</td><td>1</td><td>10,145</td><td>-</td><td>8</td><td>-</td><td>8</td><td>-</td></tr><tr><td>Iraq</td><td>25,089</td><td>25,088</td><td>11,961</td><td>1,206</td><td>3,717</td><td>8,204</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>15,588</td><td>15,580</td><td>8,565</td><td>3,008</td><td>3,973</td><td>34</td><td>8</td><td>8</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>11,592</td><td>11,523</td><td>9,136</td><td>55</td><td>2,332</td><td>-</td><td>69</td><td>33</td><td>36</td><td>-</td></tr><tr><td>Philippines</td><td>3,031</td><td>3,031</td><td>1,480</td><td>10</td><td>1,541</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>21,202</td><td>21,190</td><td>20,724</td><td>51</td><td>415</td><td>10</td><td>12</td><td>5</td><td>7</td><td>-</td></tr><tr><td>Other Asia</td><td>21,241</td><td>21,163</td><td>17,653</td><td>569</td><td>2,931</td><td>10</td><td>78</td><td>78</td><td>7</td><td>-</td></tr><tr><td>Total Asia</td><td>124,013</td><td>123,226</td><td>80,108</td><td>6,749</td><td>28,051</td><td>8,318</td><td>787</td><td>730</td><td>57</td><td>-</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>6,432</td><td>5,118</td><td>103</td><td>43</td><td>2,904</td><td>2,068</td><td>1,314</td><td>753</td><td>207</td><td>354</td></tr><tr><td>Belgian Congo</td><td>6,584</td><td>6,583</td><td>5</td><td>33</td><td>5,482</td><td>1,063</td><td>1</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>803</td><td>794</td><td>25</td><td>720</td><td>38</td><td>11</td><td>9</td><td>9</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>2,080</td><td>2,063</td><td>-</td><td>-</td><td>1,996</td><td>67</td><td>17</td><td>12</td><td>5</td><td>-</td></tr><tr><td>Other</td><td>2,774</td><td>2,630</td><td>374</td><td>218</td><td>2,012</td><td>26</td><td>144</td><td>143</td><td>1</td><td>-</td></tr><tr><td>Total other countries</td><td>18,673</td><td>17,188</td><td>507</td><td>1,014</td><td>12,432</td><td>3,235</td><td>1,485</td><td>917</td><td>214</td><td>354</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>1,033,344</td><td>964,635</td><td>209,656</td><td>121,492</td><td>433,420</td><td>200,067</td><td>68,709</td><td>59,101</td><td>3,821</td><td>5,787</td></tr></table>
May 1955
69
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of February 1953
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term liabilities</th><th colspan="4">To foreign banks and official institutions</th><th colspan="3">To all other foreigners</th><th colspan="3">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>96,250</td><td>95,108</td><td>49,042</td><td>3,200</td><td>42,866</td><td>1,142</td><td>1,132</td><td>10</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>131,038</td><td>73,385</td><td>44,323</td><td>2,194</td><td>26,868</td><td>57,080</td><td>47,477</td><td>3,270</td><td>6,333</td><td>573</td><td>566</td><td>7</td></tr><tr><td>Czechoslovakia</td><td>540</td><td>170</td><td>164</td><td>-</td><td>6</td><td>370</td><td>370</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>60,667</td><td>52,686</td><td>16,556</td><td>35,575</td><td>555</td><td>7,759</td><td>6,926</td><td>693</td><td>140</td><td>222</td><td>222</td><td>-</td></tr><tr><td>Finland</td><td>28,594</td><td>26,319</td><td>21,834</td><td>-</td><td>4,485</td><td>2,275</td><td>2,275</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>253,358</td><td>191,111</td><td>159,511</td><td>20,687</td><td>10,913</td><td>61,087</td><td>54,405</td><td>3,793</td><td>2,884</td><td>1,160</td><td>1,141</td><td>19</td></tr><tr><td>Germany</td><td>552,208</td><td>549,389</td><td>227,984</td><td>275,000</td><td>46,405</td><td>2,756</td><td>2,679</td><td>43</td><td>34</td><td>63</td><td>63</td><td>-</td></tr><tr><td>Greece</td><td>53,783</td><td>45,370</td><td>25,174</td><td>20,000</td><td>196</td><td>8,411</td><td>6,257</td><td>2,050</td><td>104</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Italy</td><td>276,495</td><td>246,795</td><td>120,936</td><td>102,126</td><td>23,733</td><td>29,686</td><td>19,942</td><td>9,334</td><td>410</td><td>14</td><td>14</td><td>-</td></tr><tr><td>Netherlands</td><td>220,002</td><td>201,123</td><td>75,884</td><td>119,215</td><td>6,024</td><td>18,833</td><td>16,692</td><td>2,129</td><td>12</td><td>46</td><td>44</td><td>2</td></tr><tr><td>Norway</td><td>116,912</td><td>89,227</td><td>26,660</td><td>56,054</td><td>6,513</td><td>27,682</td><td>25,822</td><td>763</td><td>1,097</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Poland</td><td>4,466</td><td>1,874</td><td>1,874</td><td>-</td><td>-</td><td>2,592</td><td>2,590</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>52,396</td><td>35,275</td><td>34,817</td><td>48</td><td>410</td><td>17,116</td><td>17,116</td><td>-</td><td>-</td><td>5</td><td>5</td><td>-</td></tr><tr><td>Romania</td><td>6,061</td><td>4,712</td><td>4,712</td><td>-</td><td>-</td><td>1,340</td><td>1,340</td><td>-</td><td>-</td><td>9</td><td>9</td><td>-</td></tr><tr><td>Spain</td><td>18,989</td><td>10,260</td><td>9,961</td><td>-</td><td>299</td><td>8,727</td><td>8,611</td><td>105</td><td>11</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Sweden</td><td>93,304</td><td>86,083</td><td>48,440</td><td>20,125</td><td>17,518</td><td>7,175</td><td>6,718</td><td>455</td><td>2</td><td>46</td><td>46</td><td>-</td></tr><tr><td>Switzerland</td><td>605,866</td><td>477,669</td><td>273,574</td><td>98,054</td><td>106,041</td><td>126,915</td><td>92,776</td><td>5,029</td><td>29,110</td><td>1,282</td><td>1,183</td><td>99</td></tr><tr><td>U.S. S. R.</td><td>3,421</td><td>3,006</td><td>2,981</td><td>-</td><td>25</td><td>274</td><td>273</td><td>-</td><td>1</td><td>141</td><td>141</td><td>-</td></tr><tr><td>United Kingdom</td><td>751,294</td><td>451,897</td><td>274,489</td><td>168,100</td><td>9,308</td><td>267,609</td><td>164,823</td><td>102,313</td><td>473</td><td>31,788</td><td>31,689</td><td>99</td></tr><tr><td>Yugoslavia</td><td>9,680</td><td>8,763</td><td>7,614</td><td>-</td><td>1,149</td><td>704</td><td>704</td><td>-</td><td>-</td><td>213</td><td>213</td><td>-</td></tr><tr><td>Other Europe</td><td>45,313</td><td>33,721</td><td>25,277</td><td>6,852</td><td>1,592</td><td>11,573</td><td>10,396</td><td>923</td><td>654</td><td>19</td><td>19</td><td>-</td></tr><tr><td>Total Europe</td><td>3,380,637</td><td>2,683,943</td><td>1,451,807</td><td>927,230</td><td>304,908</td><td>661,106</td><td>489,324</td><td>130,515</td><td>41,267</td><td>35,588</td><td>35,351</td><td>237</td></tr><tr><td>Canada</td><td>1,375,232</td><td>1,120,901</td><td>327,443</td><td>774,152</td><td>19,306</td><td>240,164</td><td>157,658</td><td>81,325</td><td>1,181</td><td>14,167</td><td>13,928</td><td>239</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>145,454</td><td>108,479</td><td>105,144</td><td>459</td><td>2,876</td><td>36,932</td><td>36,792</td><td>120</td><td>20</td><td>43</td><td>15</td><td>28</td></tr><tr><td>Bolivia</td><td>20,155</td><td>9,308</td><td>9,300</td><td>-</td><td>8</td><td>10,847</td><td>10,811</td><td>13</td><td>23</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>82,848</td><td>45,111</td><td>32,197</td><td>-</td><td>12,914</td><td>37,683</td><td>37,376</td><td>34</td><td>273</td><td>54</td><td>54</td><td>-</td></tr><tr><td>Chile</td><td>82,402</td><td>52,220</td><td>51,962</td><td>-</td><td>258</td><td>30,181</td><td>30,130</td><td>47</td><td>4</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Columbia</td><td>126,485</td><td>90,827</td><td>90,064</td><td>-</td><td>763</td><td>35,653</td><td>35,483</td><td>167</td><td>3</td><td>5</td><td>5</td><td>-</td></tr><tr><td>Cuba</td><td>279,625</td><td>216,603</td><td>114,862</td><td>92,000</td><td>9,741</td><td>63,022</td><td>62,214</td><td>322</td><td>486</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dominican Republic</td><td>42,778</td><td>28,061</td><td>27,561</td><td>-</td><td>500</td><td>14,717</td><td>14,669</td><td>48</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>41,216</td><td>23,192</td><td>12,292</td><td>7,300</td><td>3,600</td><td>18,024</td><td>17,628</td><td>295</td><td>101</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>213,150</td><td>128,420</td><td>126,648</td><td>-</td><td>1,772</td><td>84,494</td><td>77,446</td><td>6,988</td><td>60</td><td>236</td><td>16</td><td>220</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>45,371</td><td>36,167</td><td>19,655</td><td>13,725</td><td>2,787</td><td>9,204</td><td>9,078</td><td>50</td><td>76</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>61,854</td><td>23,561</td><td>23,291</td><td>-</td><td>270</td><td>38,290</td><td>35,582</td><td>129</td><td>2,579</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Republic of Panama</td><td>90,404</td><td>29,474</td><td>29,386</td><td>-</td><td>88</td><td>60,930</td><td>46,526</td><td>8,433</td><td>5,972</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>44,161</td><td>32,517</td><td>6,112</td><td>26,000</td><td>405</td><td>11,044</td><td>11,635</td><td>9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>97,108</td><td>37,749</td><td>31,956</td><td>453</td><td>5,340</td><td>59,310</td><td>50,940</td><td>175</td><td>8,195</td><td>49</td><td>4</td><td>45</td></tr><tr><td>Venezuela</td><td>103,880</td><td>55,804</td><td>55,530</td><td>274</td><td>47,759</td><td>44,498</td><td>2,940</td><td>321</td><td>317</td><td>317</td><td>317</td><td>-</td></tr><tr><td>Other Latin America</td><td>134,405</td><td>99,706</td><td>77,914</td><td>2,366</td><td>19,426</td><td>34,569</td><td>33,265</td><td>1,269</td><td>35</td><td>130</td><td>130</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,611,296</td><td>1,017,199</td><td>813,874</td><td>142,303</td><td>61,022</td><td>593,259</td><td>554,073</td><td>21,039</td><td>18,147</td><td>838</td><td>545</td><td>293</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>37,290</td><td>28,370</td><td>27,740</td><td>-</td><td>630</td><td>8,920</td><td>8,418</td><td>502</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>35,461</td><td>29,581</td><td>29,571</td><td>-</td><td>10</td><td>5,880</td><td>5,880</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>71,438</td><td>31,299</td><td>30,675</td><td>200</td><td>424</td><td>40,064</td><td>39,931</td><td>28</td><td>105</td><td>71</td><td>71</td><td>-</td></tr><tr><td>India</td><td>75,064</td><td>71,034</td><td>25,735</td><td>43,910</td><td>1,389</td><td>3,725</td><td>3,725</td><td>-</td><td>-</td><td>305</td><td>305</td><td>-</td></tr><tr><td>Indonesia</td><td>60,649</td><td>59,229</td><td>45,079</td><td>12,975</td><td>1,175</td><td>1,418</td><td>1,418</td><td>-</td><td>-</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Iran</td><td>16,360</td><td>9,050</td><td>8,920</td><td>-</td><td>130</td><td>7,310</td><td>7,310</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>21,648</td><td>18,428</td><td>18,414</td><td>-</td><td>14</td><td>3,820</td><td>2,527</td><td>693</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>863,141</td><td>847,120</td><td>823,379</td><td>22,314</td><td>1,427</td><td>16,021</td><td>16,020</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>313,683</td><td>293,381</td><td>279,488</td><td>6,055</td><td>7,838</td><td>20,246</td><td>20,196</td><td>50</td><td>-</td><td>58</td><td>58</td><td>-</td></tr><tr><td>Thailand</td><td>190,420</td><td>186,269</td><td>9,803</td><td>176,097</td><td>369</td><td>4,151</td><td>4,151</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>8,605</td><td>4,282</td><td>4,262</td><td>-</td><td>20</td><td>4,323</td><td>4,323</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>206,712</td><td>174,243</td><td>141,497</td><td>26,009</td><td>6,737</td><td>32,061</td><td>31,580</td><td>60</td><td>421</td><td>408</td><td>408</td><td>-</td></tr><tr><td>Total Asia</td><td>1,900,469</td><td>1,752,286</td><td>1,444,563</td><td>287,560</td><td>20,163</td><td>147,339</td><td>145,479</td><td>1,333</td><td>927</td><td>844</td><td>844</td><td>-</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>52,295</td><td>48,621</td><td>19,621</td><td>27,650</td><td>1,350</td><td>2,727</td><td>2,727</td><td>-</td><td>-</td><td>947</td><td>947</td><td>-</td></tr><tr><td>Belgian Congo</td><td>119,467</td><td>118,554</td><td>16,557</td><td>87,225</td><td>14,772</td><td>910</td><td>546</td><td>-</td><td>364</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>55,057</td><td>51,049</td><td>17,428</td><td>33,600</td><td>21</td><td>4,002</td><td>4,001</td><td>-</td><td>1</td><td>6</td><td>6</td><td>-</td></tr><tr><td>Union of South Africa</td><td>38,058</td><td>33,122</td><td>9,214</td><td>23,900</td><td>8</td><td>4,499</td><td>4,493</td><td>5</td><td>1</td><td>437</td><td>436</td><td>1</td></tr><tr><td>Other</td><td>93,213</td><td>68,900</td><td>59,541</td><td>860</td><td>8,499</td><td>24,021</td><td>21,191</td><td>758</td><td>2,072</td><td>292</td><td>278</td><td>14</td></tr><tr><td>Total other countries</td><td>358,090</td><td>320,246</td><td>122,361</td><td>173,235</td><td>24,650</td><td>36,159</td><td>32,958</td><td>763</td><td>2,438</td><td>1,685</td><td>1,670</td><td>15</td></tr><tr><td>International</td><td>1,745,160</td><td>1,745,160</td><td>96,202</td><td>1,609,618</td><td>39,340</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>10,370,884</td><td>8,639,735</td><td>4,256,250</td><td>3,914,098</td><td>469,387</td><td>1,678,027</td><td>1,379,492</td><td>234,975</td><td>63,560</td><td>53,122</td><td>52,338</td><td>784</td></tr></table>
70
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of February 1953
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th rowspan="2">Country</th><th colspan="5">Purchases by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th>Total purchases</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>21</td><td>-</td><td>-</td><td>21</td><td>-</td><td>-</td><td>215</td><td>-</td><td>200</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>4,337</td><td>1,410</td><td>208</td><td>1,117</td><td>964</td><td>638</td><td>4,265</td><td>1,385</td><td>135</td><td>1,344</td><td>994</td><td>407</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td><td>2</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Denmark</td><td>448</td><td>202</td><td>-</td><td>70</td><td>170</td><td>6</td><td>90</td><td>-</td><td>42</td><td>28</td><td>20</td><td>-</td></tr><tr><td>Finland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>3,996</td><td>61</td><td>412</td><td>2,013</td><td>805</td><td>705</td><td>4,077</td><td>358</td><td>562</td><td>1,954</td><td>514</td><td>689</td></tr><tr><td>Germany</td><td>42</td><td>-</td><td>6</td><td>36</td><td>-</td><td>-</td><td>57</td><td>-</td><td>3</td><td>30</td><td>-</td><td>24</td></tr><tr><td>Greece</td><td>43</td><td>-</td><td>-</td><td>42</td><td>1</td><td>-</td><td>70</td><td>-</td><td>-</td><td>70</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>512</td><td>35</td><td>37</td><td>306</td><td>116</td><td>18</td><td>309</td><td>15</td><td>10</td><td>226</td><td>50</td><td>8</td></tr><tr><td>Netherlands</td><td>4,358</td><td>179</td><td>25</td><td>1,456</td><td>2,067</td><td>631</td><td>4,255</td><td>30</td><td>66</td><td>2,889</td><td>839</td><td>431</td></tr><tr><td>Norway</td><td>606</td><td>106</td><td>-</td><td>356</td><td>143</td><td>1</td><td>7,313</td><td>7,071</td><td>-</td><td>185</td><td>46</td><td>11</td></tr><tr><td>Poland</td><td>11</td><td>-</td><td>-</td><td>11</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>257</td><td>-</td><td>-</td><td>32</td><td>128</td><td>97</td><td>221</td><td>-</td><td>4</td><td>41</td><td>149</td><td>27</td></tr><tr><td>Rumania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>100</td><td>-</td><td>-</td><td>66</td><td>28</td><td>6</td><td>68</td><td>2</td><td>-</td><td>51</td><td>9</td><td>6</td></tr><tr><td>Sweden</td><td>485</td><td>78</td><td>262</td><td>108</td><td>5</td><td>32</td><td>196</td><td>40</td><td>26</td><td>83</td><td>25</td><td>22</td></tr><tr><td>Switzerland</td><td>26,106</td><td>727</td><td>2,330</td><td>18,952</td><td>1,288</td><td>2,809</td><td>18,321</td><td>796</td><td>1,383</td><td>13,130</td><td>875</td><td>2,137</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>29,974</td><td>12,293</td><td>664</td><td>12,705</td><td>2,435</td><td>1,877</td><td>20,838</td><td>8,853</td><td>1,277</td><td>6,742</td><td>2,933</td><td>1,033</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>1,045</td><td>42</td><td>102</td><td>722</td><td>161</td><td>18</td><td>2,112</td><td>1,017</td><td>92</td><td>859</td><td>31</td><td>113</td></tr><tr><td>Total Europe</td><td>72,341</td><td>15,133</td><td>4,046</td><td>38,013</td><td>8,311</td><td>6,838</td><td>62,421</td><td>19,567</td><td>3,802</td><td>27,657</td><td>6,487</td><td>4,908</td></tr><tr><td>Canada</td><td>48,150</td><td>1,481</td><td>12,227</td><td>10,774</td><td>7,309</td><td>16,359</td><td>105,448</td><td>10,454</td><td>14,706</td><td>9,652</td><td>55,895</td><td>14,741</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>328</td><td>1</td><td>10</td><td>144</td><td>149</td><td>24</td><td>321</td><td>12</td><td>7</td><td>185</td><td>90</td><td>27</td></tr><tr><td>Bolivia</td><td>50</td><td>-</td><td>-</td><td>39</td><td>11</td><td>-</td><td>28</td><td>-</td><td>2</td><td>25</td><td>1</td><td>-</td></tr><tr><td>Brazil</td><td>828</td><td>-</td><td>11</td><td>280</td><td>510</td><td>27</td><td>245</td><td>4</td><td>-</td><td>190</td><td>42</td><td>9</td></tr><tr><td>Chile</td><td>312</td><td>7</td><td>-</td><td>184</td><td>83</td><td>38</td><td>301</td><td>-</td><td>-</td><td>281</td><td>19</td><td>1</td></tr><tr><td>Colombia</td><td>541</td><td>-</td><td>3</td><td>183</td><td>277</td><td>78</td><td>548</td><td>-</td><td>300</td><td>200</td><td>23</td><td>25</td></tr><tr><td>Cuba</td><td>2,394</td><td>30</td><td>84</td><td>1,694</td><td>440</td><td>146</td><td>1,326</td><td>50</td><td>1,004</td><td>143</td><td>129</td><td>-</td></tr><tr><td>Dominican Republic</td><td>58</td><td>49</td><td>-</td><td>7</td><td>-</td><td>2</td><td>24</td><td>-</td><td>-</td><td>24</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>517</td><td>-</td><td>-</td><td>475</td><td>42</td><td>-</td><td>35</td><td>-</td><td>-</td><td>35</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>1,191</td><td>-</td><td>29</td><td>581</td><td>217</td><td>364</td><td>1,085</td><td>18</td><td>-</td><td>801</td><td>132</td><td>135</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>163</td><td>20</td><td>31</td><td>110</td><td>-</td><td>2</td><td>92</td><td>-</td><td>6</td><td>86</td><td>-</td><td>-</td></tr><tr><td>Paru</td><td>107</td><td>-</td><td>-</td><td>91</td><td>1</td><td>15</td><td>168</td><td>25</td><td>5</td><td>136</td><td>2</td><td>-</td></tr><tr><td>Republic of Panama</td><td>1,290</td><td>5</td><td>70</td><td>1,123</td><td>10</td><td>82</td><td>1,093</td><td>-</td><td>67</td><td>857</td><td>1</td><td>168</td></tr><tr><td>El Salvador</td><td>38</td><td>20</td><td>-</td><td>10</td><td>3</td><td>5</td><td>44</td><td>-</td><td>-</td><td>4</td><td>40</td><td>-</td></tr><tr><td>Uruguay</td><td>2,401</td><td>497</td><td>59</td><td>1,189</td><td>337</td><td>319</td><td>2,559</td><td>371</td><td>319</td><td>1,378</td><td>288</td><td>203</td></tr><tr><td>Venezuela</td><td>636</td><td>-</td><td>9</td><td>498</td><td>4</td><td>125</td><td>505</td><td>2</td><td>-</td><td>497</td><td>-</td><td>6</td></tr><tr><td>Other Latin America</td><td>546</td><td>-</td><td>5</td><td>307</td><td>181</td><td>53</td><td>884</td><td>174</td><td>2</td><td>533</td><td>168</td><td>7</td></tr><tr><td>Total Latin America</td><td>11,400</td><td>629</td><td>311</td><td>6,915</td><td>2,265</td><td>1,280</td><td>9,259</td><td>606</td><td>758</td><td>6,236</td><td>949</td><td>710</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>8</td><td>-</td><td>-</td><td>2</td><td>-</td><td>6</td><td>26</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>5</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td><td>15</td><td>-</td><td>-</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>824</td><td>-</td><td>3</td><td>654</td><td>67</td><td>100</td><td>636</td><td>92</td><td>-</td><td>547</td><td>3</td><td>34</td></tr><tr><td>India</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8</td><td>-</td><td>-</td><td>8</td><td>-</td><td>-</td></tr><tr><td>Indonesia</td><td>28</td><td>-</td><td>-</td><td>26</td><td>2</td><td>-</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>23</td><td>-</td><td>-</td><td>17</td><td>-</td><td>6</td><td>2,623</td><td>-</td><td>-</td><td>6</td><td>2,617</td><td>-</td></tr><tr><td>Japan</td><td>151</td><td>35</td><td>2</td><td>24</td><td>120</td><td>-</td><td>64</td><td>-</td><td>-</td><td>64</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>52</td><td>-</td><td>-</td><td>19</td><td>33</td><td>-</td><td>18</td><td>2</td><td>-</td><td>13</td><td>-</td><td>3</td></tr><tr><td>Thailand</td><td>52</td><td>-</td><td>-</td><td>51</td><td>-</td><td>1</td><td>405</td><td>-</td><td>-</td><td>57</td><td>348</td><td>-</td></tr><tr><td>Turkey</td><td>16</td><td>-</td><td>-</td><td>9</td><td>5</td><td>2</td><td>31</td><td>-</td><td>-</td><td>21</td><td>10</td><td>-</td></tr><tr><td>Other Asia</td><td>373</td><td>35</td><td>80</td><td>142</td><td>8</td><td>108</td><td>193</td><td>-</td><td>-</td><td>157</td><td>8</td><td>28</td></tr><tr><td>Total Asia</td><td>1,563</td><td>70</td><td>85</td><td>950</td><td>235</td><td>223</td><td>4,025</td><td>56</td><td>-</td><td>918</td><td>2,986</td><td>65</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>286</td><td>-</td><td>-</td><td>19</td><td>265</td><td>2</td><td>39</td><td>-</td><td>-</td><td>39</td><td>-</td><td>-</td></tr><tr><td>Belgian Congo</td><td>4</td><td>1</td><td>-</td><td>2</td><td>1</td><td>-</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>8</td><td>-</td><td>-</td><td>8</td><td>-</td><td>-</td><td>58</td><td>-</td><td>-</td><td>55</td><td>3</td><td>-</td></tr><tr><td>Union of South Africa</td><td>118</td><td>-</td><td>8</td><td>42</td><td>68</td><td>-</td><td>3,111</td><td>-</td><td>2</td><td>246</td><td>42</td><td>2,821</td></tr><tr><td>Other</td><td>1,418</td><td>601</td><td>30</td><td>706</td><td>46</td><td>35</td><td>602</td><td>4</td><td>29</td><td>386</td><td>58</td><td>125</td></tr><tr><td>Total other countries</td><td>1,834</td><td>602</td><td>38</td><td>777</td><td>380</td><td>37</td><td>3,811</td><td>4</td><td>31</td><td>727</td><td>103</td><td>2,946</td></tr><tr><td>International</td><td>10,805</td><td>10,195</td><td>26</td><td>490</td><td>94</td><td>-</td><td>1,574</td><td>-</td><td>115</td><td>74</td><td>1,385</td><td>-</td></tr><tr><td>Grand total</td><td>146,093</td><td>28,110</td><td>16,733</td><td>57,919</td><td>18,594</td><td>24,737</td><td>186,538</td><td>30,687</td><td>19,412</td><td>45,264</td><td>67,805</td><td>23,370</td></tr></table>
May 1955
71
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Data relating to corporations in which the United States Government has a proprietary interest, direct or indirect, and to certain other business-type activities of the United States Government are presented in four tables.
Tables 3 and 4, in this issue of the "Treasury Bulletin" are compiled from reports of the agencies, adjusted by the Treasury Department. For Tables 1 and 2, giving loan and balance sheet data, see the April 1953 issue.
Table 3.- Income and Expense for the Six Months Ended December 31, 1952
(In thousands of dollars)
<table><tr><th></th><th>Grand total</th><th>Total corporations</th><th>Banks for cooperatives</th><th>Commodity Credit Corporation</th><th colspan="2">Corporations Export-Import Bank of Washington</th><th>Federal Deposit Insurance Corporation</th><th>Federal Farm Mortgage Corporation</th><th>Federal home loan banks</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Regular lending activities</th><th>Defense Production Act of 1950, as amended</th><th></th><th></th><th></th></tr><tr><td>Income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sale of commodities and supplies</td><td>670,572</td><td>555,392</td><td>-</td><td>232,876</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale of services</td><td>88,633</td><td>87,619</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rente and royalties</td><td>40,994</td><td>6,725</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Interest and dividends:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on loans</td><td>360,741</td><td>138,371</td><td>6,443</td><td>5,685</td><td>38,332</td><td>3</td><td>-</td><td>680</td><td>9,333</td></tr><tr><td>Interest on public debt obligations</td><td>27,182</td><td>23,475</td><td>517</td><td>-</td><td>-</td><td>-</td><td>15,993</td><td>-</td><td>3,340</td></tr><tr><td>Interest, other</td><td>6,673</td><td>4,577</td><td>1</td><td>2,666</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Dividends</td><td>54,762</td><td>7,705</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranty and insurance premiums</td><td>112,693</td><td>56,892</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28,372</td><td>-</td><td>-</td></tr><tr><td>Other income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Gains on sale of fixed assets</td><td>81</td><td>80</td><td>-</td><td>3</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Gains on sale of investments</td><td>29</td><td>29</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>29</td></tr><tr><td>Gains on sale of acquired security or collateral</td><td>8,213</td><td>857</td><td>311</td><td>-</td><td>-</td><td>-</td><td>4</td><td>541</td><td>-</td></tr><tr><td>Other</td><td>3,868</td><td>7,442</td><td>20</td><td>4,452</td><td>-</td><td>-</td><td>131</td><td>5</td><td>3</td></tr><tr><td>Total income</td><td>1,379,440</td><td>882,165</td><td>7,291</td><td>245,682</td><td>38,333</td><td>3</td><td>44,503</td><td>1,226</td><td>12,704</td></tr><tr><td>Expense:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of commodities and supplies sold</td><td>643,446</td><td>533,098</td><td>-</td><td>250,872</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Direct operating costs</td><td>93,803</td><td>76,944</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Interest expenses:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On borrowings from the U. S. Treasury</td><td>76,245</td><td>45,310</td><td>-</td><td>18,827 1/2</td><td>11,769</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>40,594</td><td>40,333</td><td>2,286</td><td>2</td><td>-</td><td>-</td><td>-</td><td>8</td><td>6,724</td></tr><tr><td>Administrative expense</td><td>76,372</td><td>35,958</td><td>1,007</td><td>7,640</td><td>526</td><td>-</td><td>3,436</td><td>441</td><td>810</td></tr><tr><td>Depreciation (not included in cost of sales or direct operating costs)</td><td>6,502</td><td>5,785</td><td>1</td><td>171</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grants, subsidies, and contributions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direct</td><td>24,772</td><td>24,064</td><td>-</td><td>57</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Indirect</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranty and insurance losses</td><td>18,067</td><td>18,067</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other expenses</td><td>35,518</td><td>23,391</td><td>-</td><td>2,505</td><td>3</td><td>-</td><td>15</td><td>43</td><td>222</td></tr><tr><td>Losses and charge-offs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans charged off</td><td>10,013</td><td>281</td><td>113</td><td>165</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets charged off</td><td>8,683</td><td>2,234</td><td>8</td><td>49</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td></tr><tr><td>Losses on sale of fixed assets</td><td>42,708</td><td>1,852</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Losses on sale of investments</td><td>91</td><td>91</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15</td></tr><tr><td>Losses on sale of acquired security or collateral</td><td>1,924</td><td>14</td><td>-</td><td>-</td><td>-</td><td>-</td><td>14</td><td>-</td><td>-</td></tr><tr><td>Direct charges to operating reserves</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>1,942</td><td>2,363</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total expense</td><td>1,082,679</td><td>809,785</td><td>3,414</td><td>280,288</td><td>12,303</td><td>1</td><td>3,465</td><td>492</td><td>7,771</td></tr><tr><td>Net income, or loss (-), before adjustment of valuation and operating reserves</td><td>296,761</td><td>72,380</td><td>3,877</td><td>-34,606</td><td>26,030</td><td>2</td><td>41,038</td><td>735</td><td>4,934</td></tr><tr><td>Adjustments of valuation and operating reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reserve for losses on loans</td><td>11,873</td><td>-1,779</td><td>-191</td><td>491</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on acquired security or collateral</td><td>-478</td><td>1,327</td><td>1,307</td><td>-</td><td>-</td><td>-</td><td>20</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on fixed assets</td><td>-105</td><td>-112</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on commodities and supplies</td><td>-31,971</td><td>-31,971</td><td>-</td><td>-31,971</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Operating reserves</td><td>-23,410</td><td>-155</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-25</td><td>-</td><td>-</td></tr><tr><td>Other reserves</td><td>3,190</td><td>2,828</td><td>13</td><td>-3,043</td><td>-</td><td>-</td><td>-27</td><td>-</td><td>-</td></tr><tr><td>Net adjustment of valuation and operating reserves</td><td>-40,900</td><td>-29,861</td><td>1,129</td><td>-34,523</td><td>4</td><td>-</td><td>-31</td><td>-</td><td>-</td></tr><tr><td>Net income, or loss (-)</td><td>255,861</td><td>42,519</td><td>5,006</td><td>-69,129</td><td>26,034</td><td>2</td><td>41,007</td><td>735</td><td>4,934</td></tr><tr><td>Changes in unreserved earned surplus or deficit:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unreserved earned surplus, or deficit (-), June 30, 1952</td><td>-2,952,836</td><td>-366,667</td><td>40,831</td><td>-220,222</td><td>-</td><td>*</td><td>-</td><td>28,871</td><td>11,112</td></tr><tr><td>Net income, or loss (-), for the six months ended December 31, 1952</td><td>255,861</td><td>42,519</td><td>5,006</td><td>-69,129</td><td>26,034</td><td>2</td><td>41,007</td><td>735</td><td>4,934</td></tr><tr><td>Transfers to surplus reserves</td><td>-41,994</td><td>-41,994</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-41,007</td><td>-</td><td>-981</td></tr><tr><td>Transfers from surplus reserves</td><td>797</td><td>797</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>797</td></tr><tr><td>Distribution of profits:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To General Fund - deposit of earnings</td><td>-225,640</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dividends</td><td>42,733</td><td>-42,733</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-5,000</td><td>-3,423</td></tr><tr><td>Other</td><td>60,707</td><td>-305</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-305</td></tr><tr><td>Prior year adjustments</td><td>107,138</td><td>109,619</td><td>-</td><td>109,391</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-8</td></tr><tr><td>Unreserved earned surplus, or deficit (-), December 31, 1952</td><td>-2,838,702</td><td>-298,763</td><td>45,838</td><td>-179,960</td><td>26,034</td><td>2</td><td>24,606</td><td>12,121</td><td>11,112</td></tr></table>
Footnote at end of Table 4.
(Continued on following page)
72
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.
Income and Expense for the Six Months Ended December 31, 1952 - (Continued)
(In thousands of dollars)
<table><tr><th></th><th>Federal intermediate credit banks</th><th>Federal National Mortgage Association</th><th>Federal Savings and Loan Insurance Corporation</th><th>Production credit corporations</th><th>Public Housing Administration 2/</th><th colspan="3">Reconstruction Finance Corporation 3/</th><th>Tennessee Valley Authority</th><th>Other 5/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Regular lending activities</th><th>Assets held for the U.S. Treasury 4/</th><th>Defense Production Act of 1950</th><th></th><th></th></tr><tr><td>Income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sale of commodities and supplies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>283,768</td><td>-</td><td>9,221</td><td>29,527</td></tr><tr><td>Sale of services.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,198</td><td>-</td><td>4,232</td><td>-</td><td>46,155</td><td>41,468</td></tr><tr><td>Rents and royalties.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>266</td><td>1,029</td></tr><tr><td>Interest and dividends:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on loans.</td><td>11,679</td><td>42,630</td><td>-</td><td>-</td><td>9,268</td><td>12,453</td><td>-</td><td>1,827</td><td>-</td><td>38</td></tr><tr><td>Interest on public debt obligations.</td><td>639</td><td>-</td><td>2,455</td><td>531</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Interest, other.</td><td>11</td><td>138</td><td>-</td><td>-</td><td>-</td><td>376</td><td>1,291</td><td>-</td><td>2</td><td>90</td></tr><tr><td>Dividends.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>705</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranty and insurance premiums.</td><td>-</td><td>578</td><td>6,312</td><td>-</td><td>-</td><td>406</td><td>-</td><td>-</td><td>-</td><td>21,224</td></tr><tr><td>Other income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Geins on sale of fixed assets.</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>78</td></tr><tr><td>Geins on sale of investments.</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Geins on sale of acquired security or collateral.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>17</td><td>2</td><td>*</td><td>87</td><td>1,065</td><td>342</td><td>185</td><td>33</td><td>791</td><td>309</td></tr><tr><td>Total income.</td><td>12,345</td><td>43,347</td><td>8,768</td><td>618</td><td>11,532</td><td>14,283</td><td>289,476</td><td>1,860</td><td>56,434</td><td>93,759</td></tr><tr><td>Expense:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of commodities and supplies sold.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>252,139</td><td>-</td><td>-</td><td>7,547</td><td>22,540</td></tr><tr><td>Direct operating costs.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>294</td><td>-</td><td>-</td><td>-</td><td>45,555</td><td>31,095</td></tr><tr><td>Interest expense:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On borrowings from the U.S. Treasury.</td><td>-</td><td>877 6/</td><td>-</td><td>-</td><td>7,281</td><td>1,772</td><td>-</td><td>1,062</td><td>335</td><td>3,385</td></tr><tr><td>Other.</td><td>9,267</td><td>20,912</td><td>-</td><td>-</td><td>1,333</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Administrative expenses.</td><td>777</td><td>1,829</td><td>213</td><td>703</td><td>4,000</td><td>5,847</td><td>1,743</td><td>306</td><td>1,056</td><td>5,622</td></tr><tr><td>Depreciation (not included in cost of sales or direct operating costs).</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1,690</td><td>-</td><td>-</td><td>-</td><td>1,383</td><td>2,536</td></tr><tr><td>Grants, subsidies, and contributions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direct.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>9,965</td><td>-</td><td>-27</td><td>-</td><td>-</td><td>14,069</td></tr><tr><td>Indirect.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranty and insurance losses.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18,067</td></tr><tr><td>Other expenses.</td><td>171</td><td>5,207</td><td>136</td><td>107</td><td>934</td><td>198</td><td>5,564</td><td>95</td><td>3,146</td><td>5,047</td></tr><tr><td>Looses and charge-offs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans charged off.</td><td>-</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets charged off.</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,124</td><td>-</td><td>-</td><td>52</td></tr><tr><td>Looses on sale of fixed assets.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td><td>1,851</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Looses on sale of investments.</td><td>*</td><td>-</td><td>-</td><td>76</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Looses on sale of acquired security or collateral.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Direct charges to operating reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>2,362</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total expense.</td><td>10,217</td><td>27,952</td><td>1,227</td><td>885</td><td>24,167</td><td>8,951</td><td>265,756</td><td>1,463</td><td>59,021</td><td>102,413</td></tr><tr><td>Net income, or loss (-), before adjustment of valuation and operating reserves.</td><td>2,129</td><td>15,396</td><td>7,541</td><td>-267</td><td>-12,635</td><td>5,332</td><td>23,720</td><td>396</td><td>-2,587 7/</td><td>-8,653</td></tr><tr><td>Adjustments of valuation and operating reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reserve for losses on loans.</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1,465</td><td>-</td><td>-611</td><td>-</td><td>-7</td></tr><tr><td>Reserve for losses on acquired security or collateral.</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on fixed assets.</td><td>-58</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-53</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on commodities and supplies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Operating reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-132</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Other reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-287</td><td>-</td><td>6,131</td><td>-</td><td>-</td><td>41</td></tr><tr><td>Net adjustment of valuation and operating reserves.</td><td>-58</td><td>-</td><td>-</td><td>-</td><td>-419</td><td>-1,465</td><td>6,078</td><td>-611</td><td>-</td><td>35</td></tr><tr><td>Net income, or loss (-).</td><td>2,071</td><td>15,396</td><td>7,541</td><td>-267</td><td>-13,054</td><td>3,866</td><td>29,798</td><td>-215</td><td>-2,587 7/</td><td>-8,619</td></tr><tr><td>Changes in unreserved earned surplus or deficit:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unreserved earned surplus, or deficit (-), June 30, 1952.</td><td>28,205</td><td>31,848</td><td>-</td><td>15,614</td><td>-112,649</td><td>250,000</td><td>-337,639</td><td>-1,168</td><td>67,263</td><td>-168,713</td></tr><tr><td>Net income, or loss (-), for the six months ended December 31, 1952.</td><td>2,071</td><td>15,396</td><td>7,541</td><td>-267</td><td>-13,054</td><td>3,866</td><td>29,798</td><td>-215</td><td>-2,587 7/</td><td>-8,619</td></tr><tr><td>Transfers to surplus reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Transfers from surplus reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Distribution of profits:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To General Fund - deposit of earnings.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dividends.</td><td>-</td><td>-31,710</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-2,600</td></tr><tr><td>Other.</td><td>-</td><td>*</td><td>-</td><td>-</td><td>153</td><td>-11</td><td>-</td><td>1</td><td>-</td><td>93</td></tr><tr><td>Prior year adjustments.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unreserved earned surplus, or deficit (-), December 31, 1952.</td><td>30,275</td><td>15,533</td><td>7,541</td><td>15,347</td><td>-125,550</td><td>253,855</td><td>-307,841</td><td>-1,382</td><td>64,676</td><td>-179,858</td></tr></table>
Footnotes at end of Table 4
(Continued on following page)
May 1955
73
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Income and Expense for the Six Months Ended December 31, 1952 - (Continued
(In thousands of dollars)
<table><tr><th></th><th>Total certain other business-type activities</th><th>Farmers' Home Administration</th><th>Diaster Loans, etc., Revolving Fund (Farmers' Home Administration)</th><th>Federal Housing Administration</th><th>Office of Housing and Home Finance Adminis- trator 2/</th><th>Public Housing Adminis- tration 10/</th><th>Rural Electri- fication Adminis- tration</th><th>Other 11/</th></tr><tr><td>Income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sale of commodities and supplies.........</td><td>115,179</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>115,179</td></tr><tr><td>Sale of services.........</td><td>1,014</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,014</td></tr><tr><td>Rents and royalties.........</td><td>34,269</td><td>79</td><td>-</td><td>-</td><td>107</td><td>33,179</td><td>-</td><td>904</td></tr><tr><td>Interest and dividends:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on loans.........</td><td>222,370</td><td>11,673</td><td>548</td><td>9</td><td>676</td><td>347</td><td>18,741</td><td>190,376</td></tr><tr><td>Interest on public debt obligations.........</td><td>3,706</td><td>12</td><td>-</td><td>3,694</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Interest, other.........</td><td>2,095</td><td>26</td><td>1</td><td>1,134</td><td>5</td><td>-</td><td>-</td><td>929</td></tr><tr><td>Dividends.........</td><td>54,057</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>54,056</td></tr><tr><td>Guaranty and insurance premiums.........</td><td>55,801</td><td>40</td><td>-</td><td>52,374</td><td>-</td><td>-</td><td>-</td><td>3,387</td></tr><tr><td>Other income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Gains on sale of fixed assets.........</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Gains on sale of investments.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Gains on sale of acquired security or collateral.........</td><td>7,356</td><td>-</td><td>*</td><td>-</td><td>79</td><td>-</td><td>-</td><td>7,277</td></tr><tr><td>Other.........</td><td>1,426</td><td>329</td><td>*</td><td>2</td><td>43</td><td>20</td><td>*</td><td>1,033</td></tr><tr><td>Total income.........</td><td>497,275</td><td>12,160</td><td>550</td><td>57,213</td><td>910</td><td>33,546</td><td>18,741</td><td>374,155</td></tr><tr><td>Expense:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of commodities and supplies sold.........</td><td>110,348</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>110,348</td></tr><tr><td>Direct operating costs.........</td><td>16,859</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12,656</td><td>-</td><td>4,204</td></tr><tr><td>Interest expense:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On borrowings from the U.S. Treasury.........</td><td>32,934</td><td>847</td><td>-</td><td>-</td><td>256</td><td>-</td><td>17,472</td><td>14,358</td></tr><tr><td>Other.........</td><td>261</td><td>-</td><td>-</td><td>253</td><td>8</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Administrative expenses.........</td><td>40,414</td><td>14,684</td><td>845</td><td>15,504</td><td>-</td><td>1,735</td><td>4,022</td><td>3,624</td></tr><tr><td>Depreciation (not included in cost of sales or direct operating costs).........</td><td>718</td><td>-</td><td>-</td><td>69</td><td>-</td><td>137</td><td>-</td><td>512</td></tr><tr><td>Grants, subsidies, and contributions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direct.........</td><td>707</td><td>68</td><td>-</td><td>-</td><td>396</td><td>-</td><td>-</td><td>243</td></tr><tr><td>Indirect.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranty and insurance losses.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other expenses.........</td><td>12,127</td><td>8</td><td>14</td><td>7</td><td>11</td><td>59</td><td>-</td><td>12,027</td></tr><tr><td>Looses and charge-offs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans charged off.........</td><td>9,732</td><td>9,634</td><td>97</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Other assets charged off.........</td><td>6,149</td><td>5,882</td><td>46</td><td>-</td><td>-</td><td>36</td><td>11</td><td>474</td></tr><tr><td>Loose on sale of fixed assets.........</td><td>40,855</td><td>3</td><td>-</td><td>4</td><td>437</td><td>40,041</td><td>-</td><td>370</td></tr><tr><td>Looses on sale of investments.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loose on sale of acquired security or collateral.........</td><td>1,910</td><td>13</td><td>-</td><td>1,898</td><td>-</td><td>-</td><td>-</td><td>-1</td></tr><tr><td>Direct charges to operating reserves.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-189</td><td>3</td><td>-</td><td>-236</td></tr><tr><td>Other.........</td><td>421</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total expense.........</td><td>272,894</td><td>31,140</td><td>1,002</td><td>17,735</td><td>920</td><td>54,666</td><td>21,506</td><td>145,924</td></tr><tr><td>Net income, or lose (-), before adjustment of valuation and operating reserves.........</td><td>224,381</td><td>-18,980</td><td>-453</td><td>39,478</td><td>-9</td><td>-21,120</td><td>-2,765</td><td>228,231</td></tr><tr><td>Adjustments of valuation and operating reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reserve for losses on loans.........</td><td>13,651</td><td>7,173</td><td>2,184</td><td>-41</td><td>4,335</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on acquired security or collateral.........</td><td>-1,805</td><td>-2</td><td>*</td><td>-1,804</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Reserve for losses on fixed assets.........</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7</td><td>-</td><td>-</td></tr><tr><td>Reserve for losses on commodities and supplies.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Operating reserves.........</td><td>-23,254</td><td>-</td><td>-19,894</td><td>-</td><td>-4,598</td><td>119</td><td>-</td><td>-3,360</td></tr><tr><td>Other reserves.........</td><td>362</td><td>4,499</td><td>15</td><td>-</td><td>-</td><td>-</td><td>-</td><td>328</td></tr><tr><td>Net adjustment of valuation and operating reserves.........</td><td>-11,040</td><td>11,670</td><td>2,199</td><td>-21,739</td><td>-263</td><td>126</td><td>-</td><td>-3,032</td></tr><tr><td>Net income, or lose (-).........</td><td>213,342</td><td>-7,310</td><td>1,746</td><td>17,739</td><td>-273</td><td>-20,994</td><td>-2,765</td><td>225,199</td></tr><tr><td>Changes in unreserved earned surplus or deficit:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unreserved earned surplus, or deficit (-), June 30, 1952.........</td><td>-2,586,171r</td><td>-23,846r</td><td>-6,888</td><td>136,382</td><td>-12,893</td><td>-613,725r</td><td>-23,512</td><td>-2,041,689r</td></tr><tr><td>Net income, or lose (-), for the six months ended December 31, 1952.........</td><td>213,342</td><td>-7,310</td><td>1,746</td><td>17,739</td><td>-273</td><td>-20,994</td><td>-2,765</td><td>225,199</td></tr><tr><td>Transfers to surplus reserves.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Transfers from surplus reserves.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Distribution of profits:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To General Fund - deposit of earnings.........</td><td>-225,640</td><td>-</td><td>-</td><td>-</td><td>-236</td><td>-</td><td>-</td><td>-225,404</td></tr><tr><td>Dividends.........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.........</td><td>61,011</td><td>8</td><td>-</td><td>-</td><td>-</td><td>61,011 12/</td><td>-</td><td>*</td></tr><tr><td>Prior year adjustments.........</td><td>-2,481</td><td>8</td><td>-</td><td>-</td><td>3,407</td><td>-6,294</td><td>-</td><td>398</td></tr><tr><td>Unreserved earned surplus, or deficit (-), December 31, 1952.........</td><td>-2,539,939</td><td>-31,148</td><td>-5,142</td><td>154,122</td><td>-9,995</td><td>-580,002</td><td>-26,277</td><td>-2,041,497</td></tr></table>
Footnotes at end of Table 4.
74
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 4.- Source and Application of Funds for the Six Months Ended December 31, 1952
(In thousands of dollars)
<table><tr><th></th><th>Grand total</th><th>Total corporations</th><th>Banks for cooperatives</th><th>Commodity Credit Corporation</th><th colspan="2">Corporations Export-Import Bank of Washington</th><th>Federal Deposit Insurance Corporation</th><th>Federal Farm Mortgage Corporation</th><th>Federal home loan banks</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Regular landing activities</th><th>Defense Production Act of 1950, as amended</th><th></th><th></th><th></th></tr><tr><td>Funds applied:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To acquisition of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans made</td><td>7,557,943</td><td>4,130,812</td><td>320,746</td><td>1,278,901</td><td>293,166</td><td>156</td><td>-</td><td>33</td><td>397,625</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations</td><td>568,871</td><td>521,095</td><td>-</td><td>-</td><td>-</td><td>-</td><td>66,500</td><td>-</td><td>349,774</td></tr><tr><td>Other securities</td><td>12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Purchase, construction, or improvement of fixed assets</td><td>129,1473</td><td>105,452</td><td>42</td><td>350</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cost of acquiring collateral on defaulted loans</td><td>16,578</td><td>432</td><td>430</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td></tr><tr><td>Other</td><td>194,117</td><td>171,993</td><td>-</td><td>171,580 13/</td><td>-</td><td>-</td><td>411</td><td>-</td><td>-</td></tr><tr><td>Total acquisition of assets</td><td>8,466,924</td><td>4,929,784</td><td>321,218</td><td>1,450,831</td><td>293,170</td><td>156</td><td>66,911</td><td>36</td><td>747,398</td></tr><tr><td>To expenses (excluding depreciation and other charges not requiring funds)</td><td>795,450</td><td>579,142</td><td>3,293</td><td>29,080</td><td>12,577</td><td>1</td><td>40,836</td><td>492</td><td>7,756</td></tr><tr><td>To retirement of borrowings and capital, and distribution of surplus:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By cash</td><td>823,309</td><td>610,628</td><td>-</td><td>271,597</td><td>151,000</td><td>30</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By cancellation of notes</td><td>196,786</td><td>193,403</td><td>-</td><td>193,403</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To other Government corporations and agencies</td><td>60,058</td><td>54,927</td><td>38,148</td><td>-</td><td>-</td><td>-</td><td>-</td><td>42</td><td>219,885</td></tr><tr><td>To the public</td><td>928,109</td><td>913,314</td><td>11,760</td><td>972</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Repayment of capital and surplus:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury</td><td>48,267</td><td>24,756</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To others</td><td>5,078</td><td>5,078</td><td>4,438</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>62</td></tr><tr><td>To General Fund - deposit of earnings</td><td>225,640</td><td>-</td><td>-</td><td>-</td><td>20,000</td><td>-</td><td>-</td><td>5,000</td><td>3,423</td></tr><tr><td>Dividends</td><td>78,686</td><td>75,027</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>313</td></tr><tr><td>Other distribution of surplus</td><td>313</td><td>313</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total retirement of borrowings and capital, and distribution of surplus</td><td>2,366,246</td><td>1,877,445</td><td>54,346</td><td>465,972</td><td>171,000</td><td>30</td><td>-</td><td>5,042</td><td>223,682</td></tr><tr><td>To increase in working capital and deferred items</td><td>372,114</td><td>255,153</td><td>7,209</td><td>2,756 14/</td><td>4,900</td><td>1</td><td>25,267</td><td>115</td><td>-</td></tr><tr><td>Other funds applied</td><td>4,901</td><td>4,900</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds applied</td><td>12,005,704</td><td>7,646,429</td><td>386,066</td><td>1,948,638</td><td>481,647</td><td>190</td><td>133,015</td><td>5,684</td><td>978,837</td></tr><tr><td>Funds provided:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By realization of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By cash</td><td>4,464,738</td><td>2,342,055</td><td>239,350</td><td>219,257</td><td>185,950</td><td>29</td><td>-</td><td>4,451</td><td>186,148</td></tr><tr><td>By cancellation of corporation notes</td><td>196,786</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations</td><td>510,740</td><td>493,212</td><td>-</td><td>-</td><td>-</td><td>-</td><td>50,000</td><td>-</td><td>349,543</td></tr><tr><td>Capital of Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>8,635</td><td>8,632</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35</td></tr><tr><td>Sale of fixed assets</td><td>3,418</td><td>1,023</td><td>-</td><td>3</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale of acquired security or collateral</td><td>12,739</td><td>7,273</td><td>4,275</td><td>-</td><td>-</td><td>-</td><td>1,161</td><td>549</td><td>-</td></tr><tr><td>Other</td><td>231,863</td><td>231,610</td><td>-</td><td>228,739 15/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total realization of assets</td><td>5,428,918</td><td>3,083,804</td><td>243,625</td><td>447,999</td><td>185,950</td><td>29</td><td>51,161</td><td>5,001</td><td>535,725</td></tr><tr><td>By income</td><td>1,184,847</td><td>687,526</td><td>7,000</td><td>12,803</td><td>38,332</td><td>3</td><td>81,853</td><td>684</td><td>12,676</td></tr><tr><td>By borrowings, capital and surplus subcorporations, and appropriations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U.S. Treasury</td><td>1,793,029</td><td>1,438,758</td><td>-</td><td>664,000</td><td>257,100</td><td>158</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From other Government corporations and agencies</td><td>252,008</td><td>247,005</td><td>47,611</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From the public</td><td>1,039,505</td><td>1,015,914</td><td>81,010</td><td>1,434</td><td>-</td><td>-</td><td>-</td><td>-</td><td>406,500</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U.S. Treasury</td><td>1,850</td><td>1,850</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By others</td><td>43,028</td><td>43,028</td><td>6,821</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15,863</td></tr><tr><td>Cancellation of notes to U.S. Treasury</td><td>3,383</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>General Fund appropriations - expended</td><td>1,343,503</td><td>366,596</td><td>-</td><td>109,391 16/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings, capital and surplus subcorporations, and appropriations</td><td>4,476,307</td><td>3,113,150</td><td>135,442</td><td>774,825</td><td>257,100</td><td>158</td><td>-</td><td>-</td><td>422,365</td></tr><tr><td>By decreases in working capital and deferred items</td><td>913,778</td><td>761,268</td><td>-</td><td>713,011</td><td>264</td><td>-</td><td>-</td><td>-</td><td>8,071</td></tr><tr><td>Other funds provided</td><td>1,855</td><td>682</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds provided</td><td>12,005,704</td><td>7,646,429</td><td>386,066</td><td>1,948,638</td><td>481,647</td><td>190</td><td>133,015</td><td>5,684</td><td>978,837</td></tr></table>
Footnotes at end of table.
(Continued on following page)
May 1955
75
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 4.- Source and Application of Funds for the Six Months Ended December 31, 1952 - (Continued)
(In thousands of dollars)
<table><tr><th colspan="9">Corporations - (Continued)</th></tr><tr><th></th><th>Federal intermediate credit banks</th><th>Federal National Mortgage Association</th><th>Federal Savings and Loan Insurance Corporation</th><th>Production credit corporations</th><th>Public Housing Administration 2/</th><th>Reconstruction Finance Corporation 3/ Regular landing activities</th><th>Assets held for the U. S. Treasury 4/</th><th>Defense Production Act of 1950</th><th>Tennessee Valley Authority</th><th>Other 5/</th></tr><tr><td>Funds applied:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To acquisition of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans made.</td><td>954,905 17/</td><td>251,655</td><td>-</td><td>-</td><td>514,440</td><td>84,810</td><td>-</td><td>34,354</td><td>-</td><td>22</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations</td><td>75,226</td><td>-</td><td>26,461</td><td>3,135</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Purchase, construction, or improvement of fixed assets</td><td>58</td><td>16</td><td>1</td><td>-</td><td>274</td><td>-</td><td>6,911</td><td>-</td><td>91,527</td><td>6,269</td></tr><tr><td>Cost of acquiring collateral on defaulted loans</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Total acquisition of assets</td><td>1,030,189</td><td>251,671</td><td>26,462</td><td>3,135</td><td>514,713</td><td>84,810</td><td>6,911</td><td>34,354</td><td>91,527</td><td>6,292</td></tr><tr><td>To expenses (excluding depreciation and other charges not requiring funds)</td><td>10,215</td><td>27,948</td><td>1,226</td><td>810</td><td>22,609</td><td>8,962</td><td>261,781</td><td>1,463</td><td>50,714</td><td>99,377</td></tr><tr><td>To retirement of borrowings and capital, and distribution of surplus:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By cash</td><td>-</td><td>-</td><td>-</td><td>-</td><td>110,000</td><td>69,000</td><td>-</td><td>4,000</td><td>5,000</td><td>-</td></tr><tr><td>By cancellation of notes</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To other Government corporations and agencies</td><td>680,655</td><td>16,779</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To the public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Repayment of capital and surplus:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>525</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>20,000</td><td>-</td><td>4,229</td><td>2</td></tr><tr><td>To others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>16</td><td>-</td><td>-</td><td>552</td></tr><tr><td>To General Fund - deposit of earnings</td><td>-</td><td>31,710</td><td>-</td><td>-</td><td>-</td><td>12,294</td><td>-</td><td>-</td><td>-</td><td>2,600</td></tr><tr><td>Dividends</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other distribution of surplus</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total retirement of borrowings and capital, and distribution of surplus</td><td>681,180</td><td>48,489</td><td>-</td><td>-</td><td>110,010</td><td>81,294</td><td>20,016</td><td>4,000</td><td>9,229</td><td>3,154</td></tr><tr><td>To increase in working capital and deferred items</td><td>21,271</td><td>-</td><td>8,380</td><td>37</td><td>12,130</td><td>-</td><td>883</td><td>42,262</td><td>122,767</td><td>12,080</td></tr><tr><td>Other funds applied</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds applied</td><td>1,742,854</td><td>328,108</td><td>36,068</td><td>3,982</td><td>659,462</td><td>175,066</td><td>289,592</td><td>82,079</td><td>274,238</td><td>120,904</td></tr><tr><td>Funds provided:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By realization of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By cash</td><td>1,137,885 17/</td><td>78,035</td><td>-</td><td>-</td><td>219,895</td><td>65,788</td><td>116</td><td>4,850</td><td>-</td><td>301</td></tr><tr><td>By cancellation of corporation notes</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations</td><td>64,139</td><td>-</td><td>27,300</td><td>2,230</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital of Government corporations</td><td>-</td><td>-</td><td>-</td><td>1,129</td><td>-</td><td>7,468</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>-</td><td>3</td><td>*</td><td>-</td><td>2</td><td>110</td><td>-</td><td>704</td><td>-</td><td>202</td></tr><tr><td>Sale of fixed assets</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,184</td><td>-</td><td>-</td><td>-</td><td>103</td></tr><tr><td>Sale of acquired security or collateral</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,868</td><td>-</td><td>2</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total realization of assets</td><td>1,202,023</td><td>78,039</td><td>27,300</td><td>3,359</td><td>219,897</td><td>74,550</td><td>116</td><td>7,719</td><td>704</td><td>608</td></tr><tr><td>By income</td><td>12,311</td><td>43,347</td><td>8,768</td><td>623</td><td>11,532</td><td>14,283</td><td>289,476</td><td>1,861</td><td>58,292</td><td>93,682</td></tr><tr><td>By borrowings, capital and surplus subscriptions, and appropriations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>390,000</td><td>55,000</td><td>-</td><td>72,500</td><td>-</td><td>-</td></tr><tr><td>From other Government corporations and agencies</td><td>-</td><td>199,394</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From the public</td><td>526,970</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital and surplus subcriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U. S. Treasury</td><td>1,550</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12</td><td>308</td></tr><tr><td>By others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20,311</td></tr><tr><td>Cancellation of notes to U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>37,880</td><td>-</td><td>-</td><td>215,230</td><td>-</td><td>4,095</td></tr><tr><td>General Fund appropriations - expended</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings, capital and surplus subcriptions, and appropriations</td><td>528,520</td><td>199,394</td><td>-</td><td>-</td><td>427,880</td><td>55,000</td><td>-</td><td>72,500</td><td>215,242</td><td>24,726</td></tr><tr><td>By decrease in working capital and deferred items</td><td>-</td><td>7,328</td><td>-</td><td>-</td><td>-</td><td>31,234</td><td>-</td><td>-</td><td>-</td><td>1,360</td></tr><tr><td>Other funds provided</td><td>-</td><td>-</td><td>-</td><td>-</td><td>153</td><td>-</td><td>-</td><td>-</td><td>-</td><td>289</td></tr><tr><td>Total funds provided</td><td>1,742,854</td><td>328,108</td><td>36,068</td><td>3,982</td><td>659,462</td><td>175,066</td><td>289,592</td><td>82,079</td><td>274,238</td><td>120,904</td></tr></table>
Footnotes at end of table.
(Continued on following page)
76
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 4. - Source and Application of Funds for the Six Months Ended December 31, 1952 - (Continued)
(In thousands of dollars)
<table><tr><th></th><th>Total certain other business-type activities</th><th>Farmers' Home Administration</th><th>Disaster Loans, etc., Revolving Fund (Farmers' Home Administration)</th><th>Federal Housing Administration</th><th>Office of Housing and Home Finance Administrator</th><th>Public Housing Administration</th><th>Rural Electrification Administration</th><th>Other</th></tr><tr><td>Funds applied:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To acquisition of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans made.</td><td>3,427,131</td><td>95,419</td><td>9,817</td><td>-</td><td>18,128</td><td>-</td><td>113,307</td><td>3,190,460</td></tr><tr><td>Purchase of investments:</td><td>47,776</td><td>-</td><td>-</td><td>47,776</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>12</td><td>-</td><td>-</td><td>10</td><td>-</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Purchase, construction, or improvement of fixed assets.</td><td>24,021</td><td>-</td><td>-</td><td>32</td><td>-</td><td>12,430</td><td>50</td><td>11,509</td></tr><tr><td>Cost of acquiring collateral on defaulted loans.</td><td>16,115</td><td>56</td><td>*</td><td>14,908</td><td>-</td><td>-</td><td>-</td><td>1,181</td></tr><tr><td>Other.</td><td>22,124</td><td>110</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22,007</td></tr><tr><td>Total acquisition of assets</td><td>3,537,210</td><td>95,585</td><td>9,825</td><td>62,726</td><td>18,128</td><td>12,430</td><td>113,357</td><td>3,225,159</td></tr><tr><td>To expenses (excluding depreciation and other charges not requiring funds)</td><td>216,308</td><td>21,419</td><td>902</td><td>15,764</td><td>379</td><td>14,754</td><td>21,495</td><td>141,594</td></tr><tr><td>To retirement of borrowings and capital, and distribution of surplus:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury:</td><td>212,681</td><td>71,431</td><td>-</td><td>-</td><td>-</td><td>-</td><td>16,088</td><td>125,162</td></tr><tr><td>By cash.</td><td>3,383</td><td>-</td><td>-</td><td>-</td><td>3,383</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By cancellation of notes.</td><td>5,131</td><td>-</td><td>-</td><td>5,131</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To other Government corporations and agencies.</td><td>14,795</td><td>-</td><td>-</td><td>14,795</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Repayment of capital and surplus:</td><td>23,511</td><td>1,079</td><td>-</td><td>-</td><td>-</td><td>18,419</td><td>*</td><td>4,012</td></tr><tr><td>To U. S. Treasury.</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td>-</td></tr><tr><td>To others.</td><td>225,640</td><td>-</td><td>-</td><td>3,659</td><td>236</td><td>-</td><td>-</td><td>225,404</td></tr><tr><td>To General Fund - deposit of earnings.</td><td>3,659</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dividends.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other distribution of surplus.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total retirement of borrowings and capital, and distribution of surplus.</td><td>488,801</td><td>72,509</td><td>-</td><td>23,586</td><td>3,619</td><td>18,420</td><td>16,088</td><td>354,578</td></tr><tr><td>To increase in working capital and deferred items.</td><td>116,956</td><td>46,073</td><td>1,639</td><td>6,383</td><td>23,137</td><td>920</td><td>15,501</td><td>23,303</td></tr><tr><td>Other funds applied.</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Total funds applied.</td><td>4,359,275</td><td>235,586</td><td>12,366</td><td>108,459</td><td>45,263</td><td>46,524</td><td>166,442</td><td>3,744,635</td></tr><tr><td>Funds provided:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By realization of assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By cash.</td><td>2,122,683</td><td>68,690</td><td>23,739</td><td>-</td><td>14,590</td><td>604</td><td>23,748</td><td>1,991,313</td></tr><tr><td>By cancellation of corporation notes.</td><td>196,786</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>196,786</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations.</td><td>17,528</td><td>-</td><td>-</td><td>17,528</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital of Government corporations.</td><td>3</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities.</td><td>2,395</td><td>12</td><td>-</td><td>4</td><td>237</td><td>1,975</td><td>-</td><td>167</td></tr><tr><td>Sale of fixed assets.</td><td>5,466</td><td>82</td><td>3</td><td>5,116</td><td>207</td><td>-</td><td>-</td><td>58</td></tr><tr><td>Sale of acquired security or collateral.</td><td>253</td><td>139</td><td>3</td><td>-</td><td>41</td><td>70</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>2,345,114</td><td>68,922</td><td>23,745</td><td>22,651</td><td>15,076</td><td>2,648</td><td>23,748</td><td>2,188,324</td></tr><tr><td>Total realization of assets.</td><td>497,321</td><td>12,160</td><td>550</td><td>57,213</td><td>958</td><td>33,546</td><td>18,741</td><td>374,153</td></tr><tr><td>By income.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By borrowings, capital and surplus subscriptions, and appropriations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U. S. Treasury.</td><td>354,271</td><td>140,000</td><td>-</td><td>-</td><td>22,000</td><td>-</td><td>120,000</td><td>72,271</td></tr><tr><td>From other Government corporations and agencies</td><td>5,003</td><td>-</td><td>-</td><td>5,003</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From the public.</td><td>23,592</td><td>-</td><td>-</td><td>23,592</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U. S. Treasury.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By others.</td><td>3,383</td><td>-</td><td>-</td><td>-</td><td>3,383</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cancellation of notes to U. S. Treasury.</td><td>976,907</td><td>14,504</td><td>-11,929</td><td>-</td><td>3,771</td><td>8,962</td><td>3,953</td><td>957,645</td></tr><tr><td>General Fund appropriations - expended.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings, capital and surplus subscriptions, and appropriations.</td><td>1,363,156</td><td>154,504</td><td>-11,929</td><td>28,594</td><td>29,155</td><td>8,962</td><td>123,953</td><td>1,029,917</td></tr><tr><td>By decrease in working capital and deferred items.</td><td>152,510</td><td>-</td><td>-</td><td>-</td><td>75</td><td>574</td><td>-</td><td>151,861</td></tr><tr><td>Other funds provided.</td><td>1,173</td><td>-</td><td>-</td><td>-</td><td>-</td><td>793</td><td>-</td><td>380</td></tr><tr><td>Total funds provided.</td><td>4,359,275</td><td>235,586</td><td>12,366</td><td>108,459</td><td>45,263</td><td>46,524</td><td>166,442</td><td>3,744,635</td></tr></table>
Footnotes on following page.
77
May 1953
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Footnotes for Tables 3 and 4
1/ Includes $1,000 thousand interest accrued on capital stock.
2/ Represents activities under the U. S. Housing Act as amended.
War housing and other operations of the Administration are shown under "certain other business-type activities".
3/ Includes merged war affiliates; excludes War Damage Corporation (in liquidation), which is included under "Other" corporations.
4/ Represents accounts held for the Treasury in accordance with provisions of act of June 30, 1948 (62 Stat. 1187-1188), which provided for cancellation of R. F. C. notes in the amount of $9,313,736 thousand, plus interest accrued thereon subsequent to June 30, 1947, representing unrecovered costs to the Corporation as of June 30, 1947, in its national defense, war, and reconversion activities, and stipulated that any amounts recovered by the Corporation with respect to these activities subsequent to June 30, 1947, should, after deduction of related expenses, be deposited in the U. S. Treasury as miscellaneous receipts. Figures for source and application of funds are shown on a net basis.
5/ Consists of Defense Homee Corporation (in liquidation); Federal Crop Insurance Corporation; Federal Prison Industries, Inc.; Inland Waterways Corporation (as of November 30, 1952, the latest available); Institute of Inter-American Affairs; Panama Canal Company; Smaller War Plants Corporation (in liquidation); The Virgin Islands Corporation; and War Damage Corporation (in liquidation). Figures of the Panama Canal Company are on a preliminary basis.
6/ Represents accrual of interest in lieu of dividends on capital stock.
7/ Represents net income of $538 thousand from power operations, and net loss of $3,175 thousand from nonincome-producing programs during the first six months of the fiscal year 1953.
8/ Excludes maritime activities, under the Department of Commerce, for which current information is not available.
9/ Consists of Alaska housing program, community facilities service, housing loans for educational institutions, prefabricated housing
loans program, revolving fund for development of isolated defense sites, and elim clearance program.
10/ Consists of Farm Security Administration program, homes conversion program (liquidated), public war housing program, and veterans' re-use housing program.
11/ Consists of Agricultural Marketing Act Revolving Fund; Federal Security Agency - loans to students; Department of the Interior - Indian loans and Puerto Rico Reconstruction Administration; Department of the Army - guaranteed loans (World War II); Department of the Navy - guaranteed loans (World War II); Home Loan Bank Board - E. O. I. C. liquidation unit; Mutual Security Agency - guaranty program and loan program; Public Works Administration (in liquidation); Treasury Department - miscellaneous loans and certain other assets; Veterans' Administration - Veterans' Canteen Service, Veterans' direct loan program, guaranteed loans to Veterans; and agencies reporting pursuant to Defense Production Act of 1950, approved September 8, 1950, which consist of Atomic Energy Commission, Defense Materials Procurement Agency, and Departments of the Air Force, Army, Commerce, Interior, and Navy.
12/ Represents adjustment to close deficit of the homes conversion program which has been liquidated.
13/ Represents purchase of commodities and other costs.
14/ Represents increase in cash with U. S. Treasurer.
15/ Represents sales and exchange of commodities, and loans transferred to accounts receivable.
16/ Represents appropriation for restoration of capital impairment.
17/ Includes ranswels.
18/ Includes $1,291,173 thousand advanced to an agency not required to report.
19/ Includes $1,108,558 thousand repaid by an agency not required to report.
* Less than $500.
r Revised.
78
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
June 1952 through May 1953
<table><tr><th rowspan="2"></th><th colspan="10">Issue and page number</th></tr><tr><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th></tr><tr><td>Article:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury financing operations</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td></tr><tr><td>Summary of Federal fiscal operations</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Budget receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Receipts by principal source</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Expenditures by major classifications</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Expenditures for national defense and related activities</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Expenditures for international finance and aid</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>"Other" expenditures</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td></tr><tr><td>Summary of budget results by months and years</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Detail of budget receipts and deductions by months and years</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>6</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Detail of budget expenditures by months and years</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>15</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Social Security Act</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>16</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Railroad Retirement Act</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>16</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Railroad Unemployment Insurance Act</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>16</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Trust account and other transactions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of trust account and other transactions</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>17</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Trust account receipts</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>17</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Trust account expenditures other than net investments</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>18</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Net investments of Government agencies in public debt securities</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>18</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>19</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Railroad Retirement Account</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>19</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Unemployment Trust Fund</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>20</td><td>11</td><td>11</td><td>11</td></tr><tr><td>National Service Life Insurance Fund</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>20</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Treasury cash income and outgo:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of cash transactions</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>21</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Derivation of cash budget receipts</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>21</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Derivation of cash budget expenditures</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>22</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Derivation of cash trust account transactions</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>22</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Derivation of cash borrowing or repayment of borrowing</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>23</td><td>14</td><td>14</td><td>14</td></tr><tr><td>Cash operating income and outgo by months</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>23</td><td>14</td><td>14</td><td>14</td></tr><tr><td>General Fund of the Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Status of the General Fund</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>24</td><td>15</td><td>15</td><td>15</td></tr><tr><td>General Fund balance by months</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>24</td><td>15</td><td>15</td><td>15</td></tr><tr><td>Debt outstanding:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>25</td><td>16</td><td>16</td><td>16</td></tr><tr><td>Net change in Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>25</td><td>16</td><td>16</td><td>16</td></tr><tr><td>Interest-bearing public debt</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>26</td><td>17</td><td>17</td><td>17</td></tr><tr><td>Net change in interest-bearing public debt</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>26</td><td>17</td><td>17</td><td>17</td></tr><tr><td>Special issues to U.S. Government investment accounts</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>27</td><td>18</td><td>18</td><td>18</td></tr><tr><td>Computed interest charge and computed interest rate on Federal securities</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>27</td><td>18</td><td>18</td><td>18</td></tr><tr><td>Treasury holdings of securities issued by Government corporations and other agencies</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>28</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Public debt and guaranteed securities outstanding by months</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>29</td><td>20</td><td>20</td><td>20</td></tr><tr><td>Statutory debt limitation:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Status under limitation</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>30</td><td>21</td><td>21</td><td>21</td></tr><tr><td>Application of limitation to public debt and guaranteed securities outstanding</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>30</td><td>21</td><td>21</td><td>21</td></tr><tr><td>Debt operations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued by U.S. Government</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>31</td><td>22</td><td>22</td><td>22</td></tr><tr><td>Offerings of Treasury bills</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>33</td><td>24</td><td>24</td><td>24</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>34</td><td>25</td><td>25</td><td>25</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>35</td><td>26</td><td>26</td><td>26</td></tr></table>
(Continued on following page)
May 1955
79
CUMULATIVE TABLE OF CONTENTS
June 1952 through May 1953 - (Continued)
<table><tr><th></th><th colspan="6">1952</th><th colspan="6">1953</th></tr><tr><th></th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th></tr><tr><td>United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cumulative sales and redemptions by series</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>36</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Sales and redemptions by periods, all series combined</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>36</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Sales and redemptions by periods, Series E through K</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>37</td><td>28</td><td>28</td><td>28</td></tr><tr><td>Redemptions of matured and unmatured bonds</td><td>30</td><td>31</td><td>32</td><td>32</td><td>32</td><td>32</td><td>32</td><td>32</td><td>41</td><td>32</td><td>32</td><td>32</td></tr><tr><td>Sales and redemptions by denominations, Series E and H and Series F, G, J, and K</td><td>...</td><td>...</td><td>33</td><td>...</td><td>...</td><td>33</td><td>...</td><td>...</td><td>42</td><td>...</td><td>...</td><td>33</td></tr><tr><td>Sales by States, Series E and H and Series F, G, J, and K</td><td>...</td><td>...</td><td>34</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>44</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Treasury saving notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cumulative sales and redemptions by series</td><td>31</td><td>32</td><td>36</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</td><td>46</td><td>33</td><td>33</td><td>35</td></tr><tr><td>Sales and redemptions by periods, all series combined</td><td>31</td><td>32</td><td>36</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</td><td>46</td><td>33</td><td>33</td><td>35</td></tr><tr><td>Ownership of Federal securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution by classes of investors and types of issues</td><td>32</td><td>33</td><td>37</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td><td>47</td><td>34</td><td>34</td><td>36</td></tr><tr><td>Net market purchases or sales for investment accounts handled by the Treasury</td><td>32</td><td>33</td><td>37</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td><td>47</td><td>34</td><td>34</td><td>36</td></tr><tr><td>Estimated ownership</td><td>33</td><td>34</td><td>38</td><td>35</td><td>35</td><td>37</td><td>35</td><td>35</td><td>48</td><td>35</td><td>35</td><td>37</td></tr><tr><td>Treasury survey of ownership:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Ownership by banks, insurance companies, and others</td><td>34</td><td>35</td><td>39</td><td>36</td><td>36</td><td>38</td><td>36</td><td>36</td><td>49</td><td>36</td><td>36</td><td>38</td></tr><tr><td>Ownership by commercial banks classified by membership in Federal Reserve System (latest date December 31, 1952)</td><td>...</td><td>...</td><td>...</td><td>40</td><td>...</td><td>...</td><td>...</td><td>...</td><td>40</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Market quotations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Over-the-counter closing quotations on Federal securities by issues</td><td>38</td><td>39</td><td>43</td><td>44</td><td>40</td><td>42</td><td>40</td><td>40</td><td>53</td><td>44</td><td>40</td><td>42</td></tr><tr><td>Chart - Yields of Treasury securities</td><td>41</td><td>42</td><td>46</td><td>47</td><td>43</td><td>45</td><td>43</td><td>43</td><td>56</td><td>47</td><td>43</td><td>45</td></tr><tr><td>Yields of Treasury and corporate bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of long-term bonds by periods</td><td>42</td><td>43</td><td>47</td><td>48</td><td>44</td><td>46</td><td>44</td><td>44</td><td>57</td><td>48</td><td>44</td><td>46</td></tr><tr><td>Chart - Average yields of long-term bonds</td><td>43</td><td>44</td><td>48</td><td>49</td><td>45</td><td>47</td><td>45</td><td>45</td><td>58</td><td>49</td><td>45</td><td>47</td></tr><tr><td>Internal revenue collections:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by principal sources</td><td>44</td><td>45</td><td>49</td><td>50</td><td>46</td><td>48</td><td>46</td><td>46</td><td>59</td><td>50</td><td>46</td><td>48</td></tr><tr><td>Chart - Internal revenue collections by principal sources</td><td>45</td><td>46</td><td>50</td><td>51</td><td>47</td><td>49</td><td>47</td><td>47</td><td>60</td><td>51</td><td>47</td><td>49</td></tr><tr><td>Detail of collections by type of tax</td><td>46</td><td>47</td><td>51</td><td>52</td><td>48</td><td>50</td><td>48</td><td>48</td><td>61</td><td>52</td><td>48</td><td>50</td></tr><tr><td>Monetary statistics:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Money in circulation</td><td>48</td><td>49</td><td>53</td><td>54</td><td>50</td><td>52</td><td>50</td><td>50</td><td>63</td><td>54</td><td>50</td><td>52</td></tr><tr><td>Monetary stocks of gold and silver</td><td>49</td><td>50</td><td>54</td><td>55</td><td>51</td><td>53</td><td>51</td><td>51</td><td>64</td><td>55</td><td>51</td><td>53</td></tr><tr><td>Gold assets and liabilities of the Treasury</td><td>49</td><td>50</td><td>54</td><td>55</td><td>51</td><td>53</td><td>51</td><td>51</td><td>64</td><td>55</td><td>51</td><td>53</td></tr><tr><td>Components of silver monetary stock</td><td>50</td><td>51</td><td>55</td><td>56</td><td>52</td><td>54</td><td>52</td><td>52</td><td>65</td><td>56</td><td>52</td><td>54</td></tr><tr><td>Silver production in the United States and acquisitions by mints and assay offices</td><td>50</td><td>51</td><td>55</td><td>56</td><td>52</td><td>54</td><td>52</td><td>52</td><td>65</td><td>56</td><td>52</td><td>54</td></tr><tr><td>Seigniorage on silver</td><td>51</td><td>52</td><td>56</td><td>57</td><td>53</td><td>55</td><td>53</td><td>53</td><td>66</td><td>57</td><td>53</td><td>55</td></tr><tr><td>Increment from reduction in weight of gold dollar (latest date March 31, 1953)</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>55</td><td>...</td><td>...</td><td>66</td><td>...</td><td>...</td><td>55</td></tr><tr><td>Net Treasury gold receipts (latest quarter ending December 31, 1952)</td><td>51</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td><td>53</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td></tr><tr><td>Exchange Stabilization Fund (latest date December 31, 1952):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance Sheet</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>67</td><td>...</td><td>...</td><td>56</td></tr><tr><td>Income and expense</td><td>...</td><td>...</td><td>58</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td><td>57</td></tr><tr><td>Capital movements between the United States and foreign countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by periods since 1935</td><td>52</td><td>53</td><td>59</td><td>58</td><td>54</td><td>58</td><td>54</td><td>54</td><td>69</td><td>58</td><td>54</td><td>58</td></tr><tr><td>Summary by countries and months</td><td>55</td><td>56</td><td>62</td><td>61</td><td>57</td><td>61</td><td>57</td><td>57</td><td>72</td><td>61</td><td>57</td><td>61</td></tr><tr><td>Details for latest months by countries</td><td>59</td><td>60</td><td>66</td><td>65</td><td>61</td><td>65</td><td>61</td><td>61</td><td>76</td><td>65</td><td>61</td><td>65</td></tr><tr><td>Supplementary data by countries</td><td>65</td><td>66</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>67</td><td>...</td><td>...</td></tr><tr><td>Corporations and certain other business-type activities (latest date December 31, 1952):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans outstanding</td><td>...</td><td>...</td><td>...</td><td>...</td><td>71</td><td>...</td><td>...</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td></tr><tr><td>Balance sheets</td><td>...</td><td>...</td><td>...</td><td>...</td><td>72</td><td>...</td><td>...</td><td>...</td><td>...</td><td>69</td><td>...</td><td>...</td></tr><tr><td>Income and expense</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>67</td><td>...</td><td>...</td><td>...</td><td>...</td><td>71</td><td>...</td></tr><tr><td>Source and application of funds</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>70</td><td>...</td><td>...</td><td>...</td><td>...</td><td>74</td><td>...</td></tr></table>
Treas. HJ 10 A2 19 53 c.2
U.S. Treasury Dept.
Treasury Bulletin
U.S. TREASURY LIBRARY
1 0031979