![]() ![]() Ment of a portion of the Government deposits cameĪlmost immediately, the banks having been notified Of $300,000,000, "or thereabouts", reached $300,- made on the adjusted service certificates held by theġ76,000, and the allotments on the 2% one-year cer- war veterans. March financing of the Government the allotments 2%, due to the fact that Government deposits haveĢ% six months' issue of Treasury certifi- been rapidly drawn down, owing to the Treasury'sĬates which were offered for subscription to amount needs in connection with the soldier bonus loans To the huge volume of Government deposits suddenly the extraordinary low figure of 1%, there has comeĬreated by the sale of the two issues of Treasury the present week, as already stated, an advance inĬertificates of indebtedness which formed part of the the Stock Exchange rate, first to 1/ The drop to 1% last week was directly ascribableĪfter last week's easing of the call loan rate to Ing had their origin in Treasury operations con- repayment of $101,039,800. All these changes must be regarded as hav- both due in the same week and calling together for , one requiron the Exchange, and on Thursday there was a rise ing the payment of $60,623,800 on Mar.Įven to 2%, though on Friday the rate fell back to final call the repayment of $40,416,00Ģ%. This week there was no repetition of the 1% rate, until the beginning of March, andĢ% again became the prevailing rate upon thetanks came in quick succession As explained in our remarksĪnnum, being the lowest Stock Exchange quotation ago, repayment of the last of the Loan rate on the Stock Exchange dropped to 1% per December. ![]() It will be recalled that last week the call ing from the certificate sale made the Than are those of the Federal Reserve Banks, at manner attributable to the TreasuryĬall for repayleast in the case of the call loan branch of the mar- ment of the last of the Government deposits Now a more important factor in the money market since the beginning of the year, to 2% was Operations of the United States Treasury are figure, which had ruled unchanged Last week to 1% was directly traceable to the suddenĬreation of this large volume of Government deposits, against which no reserves are required.Įarlier in the month of March a sudden rise in theĬall loan rate on the Stock Exchange from the 1/ The drop in the call loan rate on the Stock Exchange The deposits, now that the figures are available, being To have been close to the mark, the exact amount of ![]() Having been withheld, but we estimated them asīeen in excess of $700,000,000. Referred to for a total of $924,067,500, the figures Precise amount of the Government deposits growing out of the sale of the two issues of certificates Our issue of last Saturday, we did not know the Or all,0Mce of Co from it were correspondingly large.Īt the time of the discussion of the matter in Treas., William Dana Seibert: See., Herbert D.Seibert. President and Fditor, Jae* Seibert Boldness Manager. Pubttshed every Saturday morning by WILLIAM B. Sale, and as last week's sale, as just shown, was Of such deposits varies according to file size of the Gray, Western Representative.Ģ08 South La Salle Street. Posits and such Government deposits are deemedĭesirable because the banks are not obligedĬHICAGO Orrms-In charge of Fred. RAILWAY & INDUSTRIAL-(fOUP a year) MONTHLY EARNINGS RECORDĭiate effect of any sale of certificates is to give theīanks a considerable volume of Government deTerms of Advertising To the banks through whom or on whose behalf theseĮach for postage outside the United States and Canada.ĬOMPENDIUMS-subscriptions for the certificates are made, the immeMONTHLY PUBLICATIONS. $6.00 per year: for all the others is 45.00 per year each. Tion Record and the Monthly Earnings Record the subscription price is For the Bank and Quota- tificates of indebtedness to remain on deposit ![]() The following publications are also issued. To allow the proceeds of the sales of these cer11.50 Within Continental United States except Alaska Tificates offered to amount of $600,000,000 aggregated $623,891,500, making the allotments on theĪs it is the practice of the Secretary of the Treas12 The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |