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:
'
Released for publication Sunday morning; January 6, li'lo.
^
_ X62&
Not earlifer,
STATEMENT FOR THE PRESS.
January 5, 1913.
The Federal Reservo Board made public today its weekly bank state
ment showing condition of the Reserve banks as at close of business on Jan
uary 4, 1916. Attention is called to certain changes in the form of the
statement. Item ’'Municipal Warrants” has beer) replaced by ’'All Other Earn
ing Assets1*, the new item including besides small amounts of warrants, also
"bill of lading drafts'*, reported by the Southern and Western Reserve banks,
and formerly included among 'All Other Assets11 of the banks. Item "Surplusn
appears for the first time, the total $i,l£4,000 representing 50$ of excess
profits of the Federal Reserve banka of Boston, Hew York, Richmond, Atlanta,
Chicago and Minneapolis, the other 50$ going to the Government as a fran
chise tax in accordance with Section 7 of the Act.
The former practice of calculating reserve percentages separately
against net deposits and against F, R, notes in circulation has been dis
continued. Instead the statement shows the per cent ratios which gold re
serves and total reserves boar to the combined net deposit and Federal Re
serve note liabilities of all the Reserve banks. It is believed that these
ratios will enable the reader to trace more readily weekly changes in tfle re
serve position of the system than was possible under the former method of
presentation*
The statement indicates an increase of 15,6 millions in gold re
serves, Large gains of gold are reported by the Cleveland and Chicago banks,
the gain of the former bank being duo mainly to the collection through the
gold settlement fund of outstanding balances in account with other Federal
Reserve banks, while the gain in gold reserve reported by the Chicago bank
is due primarily to liquidation of discounted paper. Hew York reports a de
crease of 23.2 millions in total reserves accompanied by an increase of 19,4
millions in total earring assets, largely Treasury certificates of indebted
ness, On the whole,, the week witnessed considerable liquidation of discount
ed paper, r/ainly member banks* collateral n./tes, all the banks except those
at Kansas City and Dallas reporting substantial reductions in the amounts of
discounted paper on hand. Over 45 per cent of the total discounts hold is
represented by paper secured by Liberty bonds and Treasury certificates of
indebtedness. During the past few weeks the amount of member banks* col
lateral notes thus secured has declined somewhat, the present holdings being
140.7 millions as against 155,5 millions on Dec. 21. On the other hand, the
holdings of customers1 paper secured by Government obligations show a slight
increase to 145 millions from 142,6 millions on Dec. 21, N^t liquidation of
acceptances in some volume is shown for the Cleveland and San Francisco banks
as against an increase in holdings of 4,3 millions for the New York bank,
total acceptances pn hand show an increase Sor the week,of about 4 milliops, Government seounxies increased about 37 millions, mainly the result
of temporary investments in certificates vf indebtedness by the New York and
Kansas City banks.
Item " A H Other Earning Assets" is composed of $1 ,1 2 0 ,CCw
of municipal warrants and $4,C47,0CC of bill of lading drafts.
Total earning
assets, 1045.5 millions, are 22.8 millions less than the week before. Oi the
total, 59,8 per cent is represented by discounts; 26 per cent by acceptances;
13.7 per cent by U. S. Securities and 0.5 per cent by warrants and bill of
lading draf ts,
As the result of payments for F. R. stock by newly admitted members
in 6 Reserve districts, th3 capital account shows an increase for the week of
$363,000, For the year the increase in capital amounts to $1 5 ,13v,oOO, or
about 27 per cent of the paid-in capital reported at the beginning of .
191
{jrovernmettt deposits show an increase for the week of 22.8 million*, while mem
bers1 reserve deposits show a decline of 3.9 millions.
Federal Reserve Agents report a total of $ 3 ,3 5 6 ,3 3 5 ,0 o v of’ Eos ewe
notes outstanding, an increase of $24,583,000 for the week. The banks report
an outstanding circulation of $1,251,305,000, or an addition for the week to
the total Federal Reserve circulation of $4,717,000, as against a weekly av
erage addition of over 45 millions for November and December of the past
year.
I *
Not earlier.
STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JANUARY 4, 1918
Released for publication Sunday morning, January
6, 1918.
X629a
1
R E S O U R C E S
January 4, 1918
Gold coin and certificates in vault............................... $480,072,>Xw
Gold. Settlement Fund - F. R. B o ard ...,..........................
338,667,vow
&old with foreign agencies.............. ................................
52. 50w. COO
Total gold held by banks......... ................................
871,259,000
Cold with Federal Reserve Agents........................ ............
797,191,000
Gold ssdemption fund.........................................................
19,270.OOo
Total gold reserves.. ...............................................
Legal tender notes, silver, e t c .......................
lotal reserves.. . ......... . . ...... --............................*
Bills discounted for Members and F. R. Banks..............
625,813,000
271,338.000
Bills bought in open market............ ..................... .
Total bills on hand....... ............................... ............
.U„ S. G-ovemmttnx long-term securities.............................
V>, S. Government short-term securities.................. . . . . .
^=A11 other earning assets*.
fotal earning assets...................... ..................
Ibe Srom other F„ R. Banks — n e t . . . . . . . . . .....................
45,244,000
S»t«jllected it ems................................................................. 302,^07.^000
Total deduction from gross deposits.................... .
Redemption fun^ against F. R. Bank notes..................
All other, reacuicos......... ................. .............................
TOTAL RESOURCES
L I A B I L I T I E S
Capital paid-in...................................................................
jp-Surplus................ .......... *..............................................
Government deposits..........................................................
131,w 6,w O 0
Sue to members — reserve account.............. ...................... 1 ,449,230,000
CtHec&ion items..................... * .......................... ............
192,649,000
Other deposits, incl. foreign Govt, credits. . . . . . . . . . .
30,594,000
Total gross deposits......... ........................ ........
as in actual, circulation......... ..........................
Bank notes in circulation, not liability.............
other liabilities.............................................. -.........
TOTAL LIABILITIES
a of gold reserves to n&t deposit and F. R. note
combined ..................................................
ifeAjKppf total reaeirre* to not deposit and F, R. note
I
7 : ■ • -l-ine.i....... ...........................................
S
1,687,7 2-o, oOO
45.310.000
1,733,030,000
897,151,000
51.167.000
92.058.000
...5,167.000
1,045,543,000
347,251,000
537,000
537.OOP
3,126,898,000
December 28, 1917
$499,917,000
317.520.000
52.500.000
869.937.000
781.851.000
19.345.000
1.671.133.000
49.635.000
1.720.768.000
680.706.000
275.366.000
9 56,072,000
48.350.000
58.883.000
4.990.000
(a)l, 068,29 5,000
(a) 11,976,000
(a)30l.067.000
313,043,000
53t,000
(a)46,000
(a)3,102,689,000
January 5, 191
$267,169,000
192.001.000
70,44 2,000
55.695.000
70,825,000
1,134,000
25.566.000
656.422.000
118.559.000
108,213,0—
1,453,166,000
(a>191,689,000
(a) 17.969.000
1.793.479.000
1.251.205.000
8,000,000
2,255.000
^liiG, 898,000
1.771.037.000
1.246.488.000
8, 000,000
(a.) 6.722.000
(a )3,102,689,000
r.'i . 8>
62 .5$b
64.2/fc
459.170.000
281.292.000
1,600.000
742.062.000
I6.18Q .00Q
758.242.000
26.217.000
121.807.000
148.024.000
41.052.000
14.857.000
Q .034.000
212.967.000
6^656,000
142.629.000.
149»295*000
40w,uuO
8.454.001,129,358,00-
(a) Ai.ona*d figures .
aoo,7yo,ooo
272.873.000
243 .000
1 ,1 29 ,35 8,0 0^
SO. 3/4*
& ■W-
2&lc,ascd for publication■
Sunday morning January 6 , l^lS.
Not ^a-rll^r.
WEER1Y STA^.-IEN'I' OF RESOURCES ALffl LIABILITIES OF EACH OF THE FEDERAL RESERVE BAHKS AT CLOSE OF BUSINESS JANUARY 4, 1918.
{In thousands of dollars).
RESOURCES:
BOSTON
Gold coin and cortific-tos in vault 19,427
Gold settlement fund F.R..Board
10,506
Gold with foreign agencies
5,675
Total gold held by bunks
33,608
Gold with Federal Reserve Agents
41,071
2,000
Gold redeciption fund,
Total &old reserves,
76,679
Legal tender notes,silver,etc.,
3,729
80,408
Total reserves,
Bills disc.for Menibers & F.R. Banks 57,321
Bills bought in open c*_rket
9,633
Total bills on hand,
66,954
U.S.Gov: t lonu-terr.i securities
610
TJ.S.Gov* t.short-ten.i securities
2,194
333L other dd-niinto assets,
Tot-1 .sarnin^ assets
69, 75 s
Dm frai other F.R„Banks - Net
3,336
IfccoUUcted ite«iS,
22,136
Total deductions i'rcti bross dep’ ts 30,472
Redemption fund against F.R.Bk.not
Al’l other resources,
-«»
TOTAL RESOURCES
180,633
L I A B I L I T I E S
N, Y.
PHILA.
3^5*6G0
a ,082
18,187
Surplus
75
6,637
26 , 65s
29,637
50,030
18,112 3,675
4,725
344,854 51, 54-S
81,413
250,595 65,3s1* 57,794
10,000 1,500
28
605,449 116,933 139,235
35,000
1,739
640,449 118,722
394,995
51,327
5,167
6,566
2, 54^3
32,113
-Si
_
♦ «
432,786
.
A
l l
. S B
o
k , n o t « 6
i h
e r
l i a
i n
b
c i r c
i l i t
i e
u
l a t i o
s
,
TOTAL LIABILITIES.
r
n
n
e
t
. l i a
b
6,102
33,189
28,972
26,546 47,701
433 1,110
6d»j£g 77,733
44,145
25,802
11,942
32.189_______________
20,717 12,931
44,131
20,717 12*931
17,334
17,384
_______ 239
117
263,745 117,71S 121,520
115^712 223,294
6
, 1
4
3 , 9
3 ,^6 4
P3S
2
649
21,764
1 9 5
, 6 3
3
7,007 2,233
3,373
ris
14,832 ,1 ,4 5 6
17,409 32,461
11,618
23,407
2,100 2,625
1,838
60,129 85,074
6s
50,337 28,034
j±57
35,120
6 ,42^
5*^4
25,212
2
2
4,014
154,4*2
101,225
537^90
54,443
1 3 , 9
1 2
4,779
33,593
1
44,265
11,022
1 ,3 9 2
111,237
3 6
, 3
1
0
, 6
8
1
2
2 3
, 2 9
4
3 8
'
2 6 3 , 7 4 5
, 1
1
4
3 , 4
22,620 39,336
4,496 2,455
2,430 W50O
5,734
...
1,267_______ 4
9
, 3
9
1
4 , 1 9 9
170,793 55,546
2
4
, 9
5
2
1 4 , 1
54,S22
63,839
4,013
409
"209,649 >4,255
181,793 59,146
»*-
_______________________
1
1 7
, 7 1
3
0 1
1
2
1
, 5
1 7 0
2
0
4 0 0 , 7 7 7
1
3
7
, ^
6
137
3,397 2,795
3S * » •
9,730 11,556
39,339 69,199
3,329 10,507
#•*
*>**
31
25
53,029 91,287
49,543 55.535
•** 8,000
15
305
1 0
5 , 2 4
5
m
___
153,574 113,541 165.612
2 ,6 a)
2 1 6
397,151
51*167
92, 0535,167
12,686 22,393 18, 663 23,545
@ Difference bet.tfeei; net amounts auo fra,, ana nat .iiOwti a w t® other Federal Beserve Banks.
8,349
23 , 973 50,661 3 0 , 813 43 , S45 1 , 045,543
2,218 2,426
...
10,847 ^ 45,244
10,463 19,967 IS,66S 12,693
302.007
7 5
7 6 0
4
2 0 5
1 , 2 6 2
1 1 5 0 , 7 1 2
9
1^>.21£
93,044 1,733,030
24,470
625,313
15,416
271,338
63,923
19,189 36 , 02s
960
7^7.191
JUL
3,997
13,623
1,883
1,936
371,259
46,984
12,764 35,484
_______ _____________
400,777 137,046 105,245
4 0
2,888
97,675 1,687.720
3 6 9 ,.... 45,310
-..iil-
46
, 586
333,687
3?.,,500.
50,657
63,136
TOTAL
430,072
25,621
22,148
34,341 42,542 367sB3
32,910 42,025 25,^37
1,236
373 ..... 5 0 L
1,444
m
113,635 ^ 6,165
12,163 8,336
33,174 19,193
2,319
116
.
1 3 0
37.957 6,373
58,177 21,314
7,350 2,100
103,484 29.7S7
131,403 31,241
6l4
930
235,501 61, 95s
1,301
889
236,802 62,847
94,112 34,299
,8,370 7,.*1.6
102,482 41,715
400
3
. R
S,1S1
25,171 21,295
I..J 37___ 1,373
103,519
Government deposits,
10,354
Due to mecibers-reserve account
77,666 643,590
Collection items,
15,960 43,071 24,428
5,340
Due to other F.R,B^jiks - Uet
Otlwr aej.ogits incl-for.Govt.creuit
13,.M .
Jotal «,ross deposits,
10P ;263 727,205 123,713
F. JU Notes in actual circulation
74,246 402,900 93,229
F
ATLANTA CHICAGO ST.LOUIS MINN- ftUJS.CY. DALLAS.SAN FRAB.
.
60,441
...
77,477
77,477
RICHM.
274
235
434
139,509 60,403 78,217
41,012 27,036 14,687
is .965 13,829
6,373
59,930 40,915 21,060
8, 26s 1*231 2,397
35,271 1,969 1 , 4.91
*• •
30
242,618 32,963
152,377 18,364
5,359 13,696
Capital paid-in
CLEVEL.
X629b
1
5
3
5
7 4
347,251
537
537
3 , 126, 89s
4,206
7
•
0
, 3
2
5
1
, 1
3
4
10,657 13,356 131,006
43,391 66,120 1 ,* 49, 23c
9,532 10,604
192,649
2S
1
2,603
___
20
, 5964,158 92,683 1.7 93 ,47 9
46,523 68,723 1,251,205
...
^ .
8 ,GOO
65
2.2SS
1 3 3
1
1 6 5
6 1 2
a ^ ,k 's
.
,
' j
Released for publication Sunday morning Janmry 6 , 1918.
Hot
.................................
. 5T4ESME0 . OF. 23DERAL RESERVE AGEtJTS1 ACCOU NTS AT CLOSE OF BUSI...1SS JANUARY 4 , 1918.
(In thousands o f dollars), .
FEDERAL RESERVE NOTES:
BOSTON iIB7 YOKi: PHILA. CLZVE.
RICH. ATL’ TA. CHICAGO 3 1.LOUIS i,iIHH.
Received from Comptroller,
1 U ^ IS O G^O,280 1 2 3 ,hGO 128,520 72,100 89,620 237,100 73,660 67,920 78,740
Returned to Comptroller,
.^ ,^ 6 9 119,144 i s , 056____ 8 ,986. _15 , 546 10,883
6,692
8,427
q .k
U L
Chargeable to F.R.Agent,
<*,511 57ii 136 107,424 119,534 62,554 72 ,737 230 , 40s
65,233 52 096
66!~6S3
In hands of F.R.Agent,
...96,600 10,160
1 3 ,940
3,420 12,220
32,420
4,495
7,090
8^00
Issued to F.R.Bank less
amount returned to F. R.
Agent for redemption,
J M T L M ,536
191 , 92s .,_ 6 o i7 3 g .- g ..° 9 § _ _ J I :!g !
COLLATERAL HELD AS SECURITY
FOR OUTSTANDING NOTES:
Gold coin and certificates
on hand,
35,730
150,417 4,220
17,410
3,603
1,329 13,102
Gold redaction fund,
3,341
, s 5,384
1,546 3,428
2,449
1,308
2,165
Gold settlement fund,F.R.Board,
2-000
60,000 5^,759
3 5,000 25,000 40,670 131+HQ
27,403 18,500
39,360
Eligible paper, minimum required 36,400
22^,941 33,380
47,800 32,588 18,ol6
60,585
29,497 18,0^6
15,858
e
a
r l i e
r .
10 17 4,905
TOTAL,
AMOUNT OF ELIGIBLE PAPER DE
LI T7ERED TO F. R. AGENT,
77,471
1174,536 97,264
36,682
229,311 42,234
293
F. R. Notes in actual
circulation,
i«iuaicipai warrants\
I
■ S lu 5
I
211 IttC
_4T,ll6 _ 7 7 . o s g _ j .^ 66 . ^
14,050
2,483
8,474
£2,07^
3,b7S
43,30b
30,104
4s6,052
56q.i4fr
1 . 366.335
191,928
60,732
51,006
57,283
47,116
77,088
50 , 815 - 40,945 19,810
61,473
35,080
18,449
16 , 20s
22,620
37 /009
57,283 47,116
2 , 29s
593
7 7 , OSS
55,52-5
68,723
269,951
41,158
10oy 3x.f
)
.
FEDERAL iiESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION.
V
S
—li._ 5— U u.32r —4 ?Q35
74,246
10k ’ ^ Q
4 >j>q9
^jboo
c.3pyo
191*928
10,190
60,738
1*592
51,006
l»^6j
402,900 93.223 10.1 ,225 54 ,44s 63.839 181,798
59,146 49,543
DISTRIBUTION OF BILLS-AND WARRANTS BY MATURITIES.
Within 15 days
Bills discounted and bought,
68,500 £ ^ ‘ 1 5 ?* TOO
12 ^
V i ,2
'5 * 0 &
56, 231^" 77"088 X 577 635
59,134 66,517
105,594
m e m o r a n d a
F. Pt. Notes outstanding,
F« a. Notes held by bcjaks,
X6?3c
3^7 ,017
10
16 to 30 days
96,322
141
31 to bO days
289,444
634
61 to 90 days
114,629
46,523
Over 90 days
9,739
335
1 , 366,335
2,365
U 5 J,iG _
1 , 25* , 2*5
Total
297,15-2
1,120
@FedFRASER