Returns New Yoi Dec. 14.
The Board of Governors of the Federal Reserve System, in their report for the week ended December 13, respecting the entire body of reporting member banks of the System, reveal no change in United States securities held compared with last week but a decrease of $52,000,000 compared with the same week in 1938, while the Federal Reserve Ratio was higher by 0.1 compared with the preceding week and 32 percent up from the corresponding week last year, Federal Reserve bank credit showed a decrease of $25,000,000 from last week, and a drop of $57,000,000 from the corresponding period in 1939.
"Monetary gold stocks were higher by $56,000,000 over those of last week and by $3,084,000,000 compared with the same time last year.
Industrial advances by the Federal Reserve declined by $244,000 from the preceding week and by $4,470,000 compared with the corresponding week in 1936.
During the period under review U.S, securities held totalled $2,512,- 000,000 and the Federal Reserve ratio was placed at 86.8 per cent.
Federal Reserve bank credit amounted to $2,543,000.000: monera gold stocks $17,464,000,000 and Industrial advances $11,143,000.—Reuter, National Bank of Sweden Raises Discount Rate Stockholm, Dec. 14.
The National Bank of Sweden has today raised its rate of discount from per cent. to 3 per cent,—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.