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i m W :ept- STATEMENT FOR THE PRESS > hsieased for publication Sunday morning Sept' 2, i? !? * 1, IS !? • XNot earlier* Considerable shifting of funds., both geograp'; ically a.nd between banks., nas been the outstanding feature of the operations of the Federal Reserve system for the week ending August 191? as shown by the usual weekly bank statement of the Federal Reserve Board. These changes were the direct re sult of Government financing, the effects of the second issue of Treasury short-term certificates for Aurust, amounting to O millions, becoming evi dent during the week while considerable payments to the Allied Governments were again made* In spite of these operations the general position cf the system, both with respect to total resources and reserve position, varied but slightly.. Aggregate assets at the close of business on the thirty-first of August were millions as against 2001 millions a week earlier, while total reserves were IU millions as comrared with lh2b millions on August 24. Gold held by the Federal Reserve banks and Federal Reserve Agents shows a net reduction on both accounts of about million dollars» JJuring the week there were withdrawn from Liberty Loan depositaries in i'.ew \ork about millions which with some millions received on account of tho August installment on the Liberty Loan &ad 4 total withdrawal frcn vhe market of about 128 millions, In'the aggregate ffov* T&rK bank collected about I I millions on account of the certificates and redeposited millions* a^ments were made to French Government representatives on Treasury account^in r,e bum of 40 millions, to British representatives 35 millions, and to Russian rw-piobentatives 47 * millions, a total of ‘m illions* In order to strength^a^ances New York to meet the payments called for there were trans5Urin- *the W69k f rom. other. Federal Reserve banks a total of 23 millions, W ? oame froni Boston, 10 from Philadelphia, and 2 each from Cleveland; ~cnmor,a and MinneapolisTen millions of the funds available were, however, ^ 5 ° ^ ^ 1errefjL 0k‘ the Federal Reserve bank of New York to Chicago. On August 2± Boston, Cleveland, Chicago and San Francisco each transferred 5 millions to tne United States Treasurer, The net results of the week’s operations grewGovernment financing has been, however, to leave the advances Oi Federal Reserve banks on this score at a very moderate figureThe casn ressrves^for the week against net deposit lia b ilitie s fell from 8 0 . to 13*9/°' ihe total of collateral notes protected by United States securities held on August ~}1 was 1 1 millions as against 8 ,4 millions a week earlier, tne figure for August 24 being itself the smallest since Government borrowing operations oegan* Total collateral notes held aggregated only 44v6 millions .^ August as ayainst 3^*5 on August 24, the increase being, therefore, but h.o millions above that produced by the slight increase in collateral notes protected by United States securities w ^ Total earning assets show a material increase for the week rising from . millions to I millions, an advance produced chiefly by the increase m ■ bills discounted for members from 128 millions to 147 millions, and represented per^ cent of the ■oaid-in capital of the Reserve banks on August yi as compared with 624 per cent on August 24. Acceptances constituted 40*6 per cent of the total earning assets/ discounts 3^*7 per cent, United States securities 20*4 per cent, and warrants 0*3 Per cent* Bills bought in the open market fell off slightly, declining from 159*5 millions to I U millions* Changes m Government securities and municipal warrants have been of a purely minor nature. Acceptances held are distributed in practically the same way as a week ago, minor declines and ^c T ria 1 ^ s /here and there in acceptance heldings. . Member banks reserve deposits show a falling off from 1121 millions to 10/0 millions, while Government deposits as the result of the recent borrowings increased from millions to I U millions* Additions to Capital stock of member banks and the movement of State banj.es into the Federal Reserve system ^ e reflected in an increase in capital stock from 58-5 millions to 5^*9 millions - Sffi?is /included $90,000 in Boston, $92,000 in Chicago, $93,000 in Cleveland, $111,000 in Kansas City, and $28,000 in Minneapolis* The week! s operations show an increase of Federal Reserve notes in ac tual circulation from millions to ® millions, while those outstanding increased from millions to 644-9 millions* The volume of notes held by tne banks continued nearly stable, rising slightly to 57 millions on Aurust 31. Federal Reserve agents held U millions in gold and millions in paper to protect outstanding circulation* 25 2658 06 19 30 103 25 0 5 120 5 122*5 ,9 0 31 304.9 0^7 38 5 .5 0 60 5 6 627*3 573 5 7*9 93 156 Released for publication Sunday Morriir.j: Septv^o^'r 2, lg it , '!ct^ a r11 e r. ' ■ >-35 2 a , STATEMENT OF COMBINED RESOURCES ”AND* LIABILITIEP^O^' T'r£ T'VLV? FEDERAL ill SERVE BANKS AT CLOSE' OF BUSINESS iiutrust 31, I . ' ■ 11- S O U R C E S A u^nsV 3i ; 1917 ■August 1917. September , . Qold .corn and certificates ' in v au lt......... .................... <Mn C m ( a) $426,741, 000 $245,358,000 Gold o « l e « n t fund......................................................... S 'a v 'n n n 397,067, 000 104, 601,000 c ^ 500^ ono ' Gold wit- foreign a g e n c i e s ,,.................... .......................... 5 2 .500. 000 '3 5 3 2 W 000 ' Total $ld held by banks --....................................... .. (a) 876,308, 000 3^ 9,959,000 Gold with Federal Reserve Agents................................. Uqt / i sc*Ann 488,536, 000 177.035.000 000 1.812.000 —L . . 3 15.< ,und........... : ......................................... lotal sola reserves............................... . , ........................: (a) , , i, 353,^98,000 528 . 806.000 Legal tender notes, silver, e tc ....................................... . . (a) 5 2 .5 50 .0 0 0 ....13,605.000 Total re server.......... -........................................................... 1 ,4 06,108,000 1 ,4 2 4 ,7 6 9 ,0 0 0 542.411.000 B ills discounted - Members........ ................................ .. 1U7 7 1 c aaa 128,407, 000 , B ills bought in open m a r k e t .,............................................. i r U sen aaa 000 79 .2 78 .0 0 0 1 5 .9 ^ 5, 5 7, ^ ^ 1 ,0 0 0 Total b ills on hand............ ................................................ , 287.964.000 . U.S.Government lon~-tera s e c u r i t i e s ..,.,................... .. 45.1406.000 . 46, 821,000 d-S• Gove ran:ent short-term securities............... ............ 30.480.000 32.521.000 , Municipal warrants................................................................... 1 . 212.000 1 . 210.000 21 .3 02.000 Total earring: asse ts ................................... 364.902.000 381 063,000 . Due f rov oth,r~ F. R. Banks _ Set............. ! ! .! ! ! ! ! ! ! ! ! 10 2}} 0Q0 , 000 35.607.000 Uncollected itsms........................ ........................................... 260 iflU nnn -2lo_iffL 000 » ____ . Total deductions from rcross deposits............. . * 1 , 270,417,000 . 5/- redemption fund against F.R.Bank D t e s .................... 917 7 1 372 219,000 52 610.000 301 906,000 , A Government deposits.............V. I] S ? ** ■ « * • « - reserve account....... ...........................j % J r 58,904 ,000 -.rh , Ro non CIeari!Vf . aj;3unt: : : : : : : ; : : : ' 069 & f ' r 'b ' actual circulatio n ................................. ... A l l 'o ^ e n ' ; n. cirn,la' io”- w t liability.............. 'POT/it £ ies inc^Ui^-foreign Govt- credits--• Go { ^ l D u t i e s Gold1?'6/*?* asainst net deposit l i a b il i t i e s ................ C-olj * * * 1'1 ^ o n e j j e s a r v e a~st.net deP . l i a b i l ' s ____ agst. i^funotes in actual circulation... { ) 0 r* f , r-4 -,-j f 1 <ylj 1*0 ^ t 35 607.000 500,000 5 8 ,4 8 4 ,0 0 0 5 9 .9 72 .0 0 0 , , . 1 121 129,000 32 933.000 000 23^ ° ° ° T o S ' 5 - ^ 3®' " ' .............................................................. - 1^-0 , 27 8,.000 •p P w.* USS d6? ° S l t s ........................................................... ....... 210 630,000 500,000 _______ 339,000 2 ,0 0 1 ,1 4 0 ,0 0 0 , , 2 058 381,000 Capital r'aid-in......... . 45 226.000 26 392,000 105 670.000 8 205,000 181 998.000 243 500,000 291.000 All other resources.............................................. TOTAL RESOURCES 1. X- i £ I i i I 2 . I E S 587 915,000 6 023,000 12 196.000 2 058 381,000 3>031.Q00 763. 547.000 ■' 390.000 55. 5 0 .9 1 8 .0 0 0 ■ 484. 1T7.955.000 1 ,3 9 3 ,3 ^3 ,0 0 0 , , . , , 1 1916 1 .3 5 1 .9 8 9 .0 0 0 573,04 9 ,0 0 0 5 ,4 7 3 ,0 0 0 1 2 .1 45 .0 0 0 2 .0 0 1 .1 4 0 .0 0 0 75-2$ 7 6 .0/' 79-9/ 80.6/ 85 , 1^ 86. 5^ 697.000 615", 006 170 561.000 1 690,000 291.000 763. 547.000 70. 0# 535, . , 12. If 104.9$' asleased. for publication Sunda~.T morning September 2, 1917* Hot earlier. WEEKLY STATEMENT OF RESOURCES AFD LIABILITIES OF EACH OF THE FEDERAL / In thousands of N. Y. Phila* Clevel. Boston R E SX> U R C E S • $27,361 221,069 28,464 28,518 Gold coin and certificates in vault. 4, 848 115,191 14,035 56,645 Gold settlement fund 18,112 Gold with foreign agencies________________ 3,675 L i l S ___ kxIiS,. 35,884 35^,372 46,174 89,888 Total cold held by banks Gold with Federal Reserve Agents 25,796 208,072 32,072 33,024 2.500 700 _____ 2 L GujJfcRede'aVption Fund _____________ -5Q0. 62,180 564,944 78,946 122,950 rTotal gold reserves 39, 612 , 1,061 490 jjegal tender notec silver, etc* 66,338 604,556 80,007 123,440 Total reserves 21, 217 10,822 Bills discounted - Members 6,111 22,217 20.410 Bills bought in open market 15.647 19,475. 37,864 Total bills on hand 31,232 25,586 U.S.Government long-term securities 2,804 610 867 7,918 U-S.Government short-term securities 2,194 2,548 2,865 3,538 Municipal warrant ________________ _122_ i._Q55_ Total earning assets 40,668 74,054 34, 776 '"’ 37,424 Due from other F.R.Banks net 19,098 .................. 2,901 Uncollected items 26,358 75.288 30.407 17.198 Total deductions from gross deposits 45,456 75,288 30,407 20,099 5fo Re damp t ion Fund ag 1st F.R. Ban k no t e s All other resources TOTAL 152,162 753,898 145,190 180,963 BILITIES Capital paid in 5,463 12,125 6,458 5,267 Gov a runicnt deposits 23,412 1,897 20,216 3 7 , 5 7 3 Due to niembe rs- re So rve account 77,701 375.82U 6 7 , 7 9 8 98,379 Due to nomember banks-clearing acc] 22,930 Collection items 14 ,789 27,176 24,238 13,516 Duo to other F.R* Banvs 37 ■290 2 ,519 Total ~ross do^osits 115,902 500,793 96,452 132,111 F.R, Fotes in actual circulation 30,415 229,624 43,203 42 ,382 . R -B1r. Fotes in ci rcul at ion, net l i ^ n . II othor lia b ilitie s incluain;" icreign Govemment credits 382 11.156 268 12 67,712 • TOTAL LIABILITIES (:) B i .t f e r e n c e be twee 11 X-352 b. 31 , 1917 . RESERVE BAMS AT CLOSE OF BUSINESS AUGUST dollars) Richm. 6,241 33,395 1.82Z 41,473 8,714 834 51,021 Jai St.Louis Minnls. Kas. Cy ; DUllas S.Fran. Total. 8,721 13,834 15,043 416,797 3,595 17,375 22,426 40,506 8,332 14,759 383,937 5,199 2.100 2,100 1.838 2.625 2,888 52.500 28,121 24,674 51,852 24,004 32,690 853,234 493,185 16,537 16,274 17,428 15,615 28,435 521 21 381 -7,079 _582_ JfiL 180,900 45,039 41,537 69,801 40,071 61,146 1 , 353,498 1.524 52.610 JO _ _ i i 2a. -312- S &L 184,529 46,563 41,880 70,113 41,028 61,216 l, 4o6,108 8,001 14 ,158 10,888 15,365 10,440 7,603 9.824 10.354 4 .996 18.265 2,2.3.59. 301,906 32,423 15,884 18,500 20,794 9,962 17,825 2,448 45,406 8, 849 11,986 2, 240 3,969 1,859 32,521 1,444 3,666 1,869 1:554 1,791 3,579 46 1.J30 Atlanta Chicago 7,040 39,536 5,410 63,191 .1 ,5.75- _ L m _ 14,025 110,077 20, 65O 70,568 288 255 3^,963 621 35,584 6,138 14,355 1,558 2^I3_ 7,696 16,428 704 1,152 5,504 1,969 51,154 147,315 154,591 135 19,568 2,683 21,913 825 31,434 823 15,846 316 11.503 14,186 8.158 10.256 11,079 400 9 ,0 40 19,549 3,904 12 .363 16/267 13,904 1,085 48,075 13,234 11,672 48,132 86,970 6 5 _______ 24_ 61,225 280,736 80,341 72,776 113,026 3 , 4 7 5 16,040 36,921 9,124 62,035 21,359 10.587 34.898 8,983 2,510 7,74 3 3,857 17,909 25,039 152,987 ... 5,650 6,717 17,631 3,264 2, 792 43,824 2,552 7 ,H 3 35,771 8, 767 2,802 7,221 35,613 194,177 23,102 78,758 55,383 21,694 45 , 68 6 79 , 5 13 24,485 ... 51 ... 58 152,162 753,898 145,190 180,963 86,970 61,225 280,736 80,341 3t amounts due from and net amounts due to other F. R. Ban1 35- 72 ,776 6 9 , 3 5 6 100 137 2,756 6,785 5,611 , 5 0 7 24,160 6,023 14.128 19,301 260.184 270,417 iL 293 500 66,467 104,436 2, 058,381 3,314 5 23,852 381,063 5 , 173 (a) 10,233 58,904 3,225 9 75,698 30,903 3 3,977 11,153 154,358 59,150 1 , 069,804 323 28,903 5,072 140,278 , 7 3 9 23,972 ... 24,761 ... 1 , 3 9 3 , 3 4 3 587,915 6,023 16 12.196 113,026 66,467 104,436 2 ,0 5 8 ,3 8 1 Released for public at ion Sunday mornin- Septeriber Z.j 1917* Not earlier. STATEMENT OF FEDERAL RESERVE AGENTS ACCOUNTS AT CLOSE OF BUSINESS AUGUST , . (In thousands of dollars) Federal Reserve Notes: 'Ston N- Y. Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn *s * Kas*Cy. Dallas Received from com.-ot roller Returned to Contro ler 12 ,384 88,668 11,028 . 6, 5^6 12,346 6,980 8, 615 . 1.472 ... 6,506 7,759 10,105 Chargeable to F„R. Ayent 50,296 377,492 60,472 57 ,464 25,094 30,621 113 , J88 27,194 31,660 37,105 32,815 In hands of F, R. A~ent m uAQo. 119,920 15 , 000 13,440 3,100 5,960 29,100 3,990 4,790 9,280 8,445 Issued to F.R.Bank less ^^mount returned to F.R, ^p-ent for redemption 44,024 21,994 24,661 84,688 23,204 26,870 27 . 825 _ 2i L .120 J 5 uI9.6 _2 5 .L 5 72 1 1 Collateral held by F.R, A^ent as security for outstanding notes Gold coin and certificates on hand Gold redemption fund With Federal Reserve Board Commercial paper, minimum required TOTAL Amount of commercial paper delive red to F*R* Ayent- 22,210 1,586 2,000 197 , 305 10, 767. 10,000 35,796 714 3,338 1,272 8,000 310 25,279 10,662 2,362 20,000 16,040 70,258 49 , 500 13,400 11,000 13,280 4,011 257,572 45,472 44,024 21,994 13 . Uc4 11,CC0 l 6,H 2 c- 10, 01 ? 14,060 14,120 6,667 10,596 66l 84,688 23,204 4*1.17 ir, . 33-1 M rc 24, 2, 370 998 12, 610 1,201 Total 3. 725 28,435 178,124 872,436 227,525 28A31_._ 644,911 269,170 1,804 1,445 26,990 24,974 199,041 10,397 8,755 t* * 151,726 26,870 27,825 24,370 435 644,911 10,596 10,402 9,191 »» . 156,219 370 28, 435 3,674 24,761 644,911 56.Q96 28, M EM 0 R A N D A Federal Reserve notes outstanding and in actual circulation* 35,796 5m.8i 30,415 Within Bills discounted and bought Municipal warrants 12,360 13,102 922 2, 250 3/ 353 am S.Fran. ~ • F, R, Notes outstanding F* R« Notes held by banks F.R.Notes in actual circulation 4, 220 2,573 X-352C 31 1917 257,572 27,948 229,624 15 45,472 2,269 43,203 44,024 1,642 42,382 21,994 24,661 84 ,688 635 ... 1,559 . 5x239 78,758 21,359 23,102 23, 204 1,510 21,694 26,870 27,825 2.385. 24,485 3,665 398 24,160 23,972 24, Distribution of Bills and. Warrants by Maturitiesdays 108.291 1,026 16 to 30 days 55,508 31 to 60 days 80, 170 146 6l to 90 days 46, 124 Over 90 days Total 2,81-3 301,906 58 1,230 587,915 # x-359 d Released for publication Sunday morning, September earlier* Statement for the Press. September 8, 1917* Large discount and open market operations, also substantial additions by al" the Reserve banks to outstanding Federal Reserve note circulation are indicated in the ^tookly Dank statement of the Federal Reserve Board issued as at close'of business on ^eptember Jj j. Government financing, including payments to allied governments, ^aused transfers on government account of over million dollars from the interior to the Federal Reserve Bank of New York. These payments totaled 80 millions* the British and French governments receiving UO millions each. A credit of 10 millions standing crec^ ^ Italian government was also withdrawn from the 1'Tew York Reserve ^overnnlent expenditures caused additional withdrawals of funds, with the .e^u "total government deposits show a decrease for the week of llU#U millions* arfce portion of the funds withdrawn by the government was deposited with member bankr ana by the latter redeposited with the Federal^”Reserve banks. As a iresult of these pera ns and the payment of reserves by newly admitted members, reserve deposits °W a lncrease ^or ^he week of millions, largely at the ITew York bank* r f res$rves against deposits show a further increase of millions, r ilV S° ld foldings both the banks and agents increased by about q Q10ns* he ratio of cash reserve.to net deposits shows but a slight decrease from per cent to * , while the ratio of cold cover to reserve notes in circulation 191 0 6 75 *^6 10 --6 eSat6 6 7 68.7 79 0 85,1 per 9*5 80*8 11*3 35*1 lio f i T cent to Per ce^ a matter of fact, of the mil>) nS-°, ^ Reserve notes issued during the week nearly 90 Ver cent were secured J c o ^ e r e u ^paper pledged with the Agents, the latter holding at present about 187*♦2 ^ions discounts and acceptances as collateral for notes issued to the banks, as against millions the week before. 0 156,1 , Hlgher money and commercial paper rates caused a considerable demand for funds, ^ ic was me argely through the discount and open market operations of the Few York eserve an , the latter reporting an increase for the week of millions in disOfUi\e tmos^ y collateral notes, and of *U millions in acceptances on hand. pn £ ,i? *a dlscoun'ts> 64.1 millions is represented by collateral notes, of which II * ni>! ^ons Wcre secured by Liberty Loan bonds or U. S. certificates of indebtedness. * , on s^on hand show a slight decrease, while the holdings of short-t^rm government secun i^s increased by about 10 millions, the Hew York bank reporting an investment of is amount in U. , certificates of indebtedness. Municipal warrants no longer cons u e any appreciable portion of the banks’ earning assets, the decrease for the week rep re sen ing amounts matured and liquidated* Total earning assets show an increase for the week of 4 8.4 millions and constitute per cent of the banks Paid-in capital, compared with per cent reported a w^ek earlier. Of tho total, U0*3 per cent is represented by acceptances; per cent by discounts; and 20*5 per cent by U. S . securities. 17 6 25.6 1 647 725 1 39,2 «, ., ^m ission to the Federal Reserve system of state banks and trust companies, also additions to capital and surplus of member banks account for an increase of $ ln^pai m capital, the Chicago and Kansas City reserve ba.nks reporting the largest An increase of . millions is shown in nonmember clearing deposits , ^as"^ wee^ the Metropolitan Trust Co. of T7ew York opened a clearing account with the Federal Reserve bank, 352,000 23 ^lio), R®sen[e notef issued to the banks are given as $680,073,000 secured by f and $187,218,000 of paper. The banks report an actual circulation 0 ifrbdl, 299,000 of Federal Reserve notes, an increase for the week of $33,384,000. « v ^ ,— * , w ' w v • * * ‘ ^ Released for publication Sunday morning September 9, 1917Hot ee.rlier. X—359a, STATEMENT OF COMBIflEI) RESOURCES AITD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 7, 191/. R E S O U R C E S ■ September 7, I 9 I 7 August 31, 1917September 8, 1916 Gold coin and certificates in vault................................ $414,433,000 $416,797,000 $£48,846,000 223'853,000 383,937,000 118,950,000 . Gold settlement fund.................... ...................................... Gold with foreign agencies................................................. 52,500,000 52,500,000 Total gold held by banks..................................... . gAp 70 c -yy-i ' QV > i' ---__________ Gold with Federal Reserve Agents..................................... 494’’ 779>000 liol'’ i rcj%rR 3^7,796,000 « v, j xr j ” ' 1 ‘+93,185,000 1«1 n?Q o ■Gold redemption fund........................................................... 7,218,000 7 07Q OOO i n a h ^ Total gold reserves.................................................... = 1,364,783,000 -- ----1,353,498,000 Legal tender notes, silver, etc........................................ 50,608.000 5 2,610,000 ^ r i 8 ? J000 Total reserves ' 1,415,391,000 1,406,108,000 5 7 8 ,1 ^ ,0 0 0 Is discounted - Members...............: ............................... 168,217,000 147,315,000 27 527 000 Bills bought in open market.............................................. 173.199.000 154.591.000 79.808.000 Total bills on hand.................................................... 3 4l,4l6,000 301,906,000 107,335,000 U5 , 394,000 45,406 000 45 954 000 U. S. Government long-term securities............................ U- S. Government short-term securities....... ................... 42,441,000 9 055^000 Municipal warrants............................................................... 204 000 'V l W .O O O 21. l ^ . 000 429,455,000 381,063,000 183,510,000 Total, earning assets -................................................. 12,036,000 10, 233,000 28,706,000 Due from other F. R. Banks - Net.. . . ........... . ............. . . Uncollected items................................................................. 2I 6 .Q 6q .000 260.184,000 . . . Total deductions from gfrrss deposits..................... 228,996,000 270,417,000 28,70 6 000 5% redemption fund against F. R. bank notes.................. 500,000 500,000 484,000 ................................ 372.000 293"000 3,403*000 All other resources............................. T ™ T^ ^ S 0URCES 2,074,714,000 2, 058 , 381,000 794,299,000 Ij I A D I L 1 1 liiib # Capital paid in ..................................................................... government deposits.............................................................. A s to members - reserve account....................................1 , 138 , 542,000 Due to non-member banks - Clearing account................... Member bank deposits - Net.................. ...................... . . . . -Collection items......... ........... ............................................ Total gross deposits..................................... ........... F. R.Notes in actual circulation...................................... F. R. Bank notes in circulation, net liability............ , • All other liabilities including foreign Govt-cr-edits. . total liabilities Gold reserve against net deposit lia b ilitie s- .......... Gold and lawful money reserve against net deposit l i a b i l ’s* Gold reserve against F*R. notes in actual circulation- (tC onet \bk:: to F. .3. Bat* £3 . 59,256,000 39, 926,000 52,339,000 58,904,000 154,358,000 1 , 069, 804,000 28,903,000 . . . 154,112,000 1,384,919,000 621,299,000 6,894,000 2, 346,000 27074, 714 , 5oo 140.278,000 1,393,343,000 587,915,000 6,023,000 12,196,000 2 , 058 ’ 381,000 7 6 U. $ 79*0^> 8 0 .8 ^ 75 *2$ >dc1 S 0 mr 55,406,000 44,236,000 . . . 70 8 514,225 000 ' . " 558,461,000 177,781,000 2,334,000 317 000 794 , 299,000 £>9*5/£ 7h>bfo ^ 102 aood for publication Sunday morning September I 917. ffat e a “ll^r* zb v&EKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE b / ’IKS AT CLOSE OF BUSINESS SEPTF/MBI ( I t h o u s a n d ? c {; 1c’.r;~) R E S O U R C E S Bos~cr> rT. v. T-h’ ia- Olfttrei. Kiohra. A llan a 'Ii i.7;cjT0> S t . I-oui s Minnls. Kas•Cy . Gold coin and Certificates i ault ^30,175 238,724 11,097 26,693 6,285 6,308 •*0, -.8-1 3,186 16,015 8 ,693 Gold settlement fund . 7,259 114,960 3 2 ,C : 48,574 30,965 1,972 70,768 26,142 6,168 36,739 Go-14 with foreign agencies 3^675 18.112 3.675 Q, 725 1.837 i ' 575 7 ,350 2.100 2.100 2.625 Total gold held by banfes 41,109 371,796 47 ,0 00 79,992 39,087 9 ,8 5 5 118,602 31,428 24,283 48,057 Gold w;ith Federal Reserve Agents 23,605 195,649 30,187 34,890 10,650 24,610 78,824 16,518 16,255 17,383 Gold Redemption Fund J— 500 2.500 700 23 829 283 379 ____ 709 520 -35\. ^ J d t a l gold reserves 65,214 569,945 77,887 1 4 ,9 0 5 50,566 34,748 197, 681 48,325 41,247 65,960 ^ p a l tender notes, silver, ate. -3^8-07 18,604 1,143 347 130 3.336 1.439 344 168 Total reserves 69,021 f 08,549 79,030115,252 5 0 ,6 9 6 '3 5 ,1 0 1 201,017 49,764 41,591 66,128 Bills discounted - Members 1 6,100 .^6,853 11,764 6,425 13,284 5-833 14,980 10,923 14,585 12,624 Bills bought in open market 16 ,_541 , 63, 871 22.002 20.8^4 2.062 1 . ~;,3 16.287 4.912 3 .^ 3 0 9 .147 Total bills on hand 32,641 110,724 33,766 27,249 15,346 7,576 31,267 15,835 17,815 21,771 U . S . Go ve rnnient long-i era ^e.u r.xies 610 2,804 867 7,918 1,153 703 11,915 8,235 1,859 8,849 U.S.Government short-term scur:ties 2,194 13,538 2,548 2,865 1,969 5,504 3 ,6 6 0 1,444 1,554 1,789 Municipal warrants 126 32 Total earning assets 35,445 127,066 37,307 38,064 18,468 13,783 46,842 19,514 21,228 3^,409 Due f«rormother F. R. Bants - Net 3,547 ... 5,981 667 ................. 7,338 1,341 1 ,4 1 8 154 Uncollected items P « .*5.Q— ill 106 30,636 14.048 12,690 11.968 25.634 12,913 7.833 12.283 Total deductions from gross deposits 26,697 47,106 36,617 14 715 12 690 n Qfifi 3 J, 972 14,254 9 ,251 12,437 5fi Redemption Fund ag ct F.R.Bk.notes ... .... J 1 ’ 400 All other resources ... ..... **' " c 50 16 TOTAL RESOURCES ~ --131,163 782,721 S &,95 4 168,031 81,85* 60,927 280,881 83,548 72,070 111,374 359 353 1 7 L i A B I l l ' S l E S t ital paid in 5,464 12,125 5,267 6,459 3,476 2,505 7.993 3,269 ernraent deposits 3,627 8,927 2,848 2,621 2,522 (b)815 5.993 3,935 Due to raesnbers-reserve account 71,342 435,211 73,687101,280 37«,526 25,171 160,319 4*,219 £ue to nonmember b an ks-c lea ring acct .... 47,571 ............................................ , 534 Collection items 18-,324 30,018 27,382 11,682 10,960 8,179 17,394 9,062 Due to other F.R.Banks ~ Wet -7.3.71 3.486 3-±5 Total gross deposits 93,293 529,098103,917 115,583 54,494 32,8 80 18-8, 240 57,216 F.F;.Notes in actual circulation 32,009 239,987 43,501 45,939 23,846 25,542 *sj 23,063 F.R.Bk.Notes in circulation,net liab All other liabilities including for eign Government credits -397 1.511 269 50 38 , . 0, ♦ » t TOTAL LIABILITIES 131,163 782,721 352,954 168 , 031 81,85* 60,9 27 280,881 83,548 (a) Difference between net amounts due from and net amounts due to other J'-R. Banks > 4 8 6<±8 2 , 556 3,372 3 ,3 3 0 36,549 66,630 2,110 2 3, ±c 8,086 43,121 76,828 26,345 2 4 , 247 6,894 43 33 72,070 111,374 Dallas o. .I*i ij.jfi Total 13,939 7,121 • 1.838 ^2,898 16,534 ____ 498 39,930 ____ 860 40,7 90 7,544 2.865 10,409 3,969 1,869 41 4,43 3 395,853 5 2 .5 00 86 2,78 6 494,779 7.218 1,364,783 50.608 1 ,4 1 5 ,3 9 1 168,217 173.199 341,416 45,394 4 2 ,4 41 12,834 12,957 2.888 28,679 29,674 22 58,375 77 58,452 7, 30i 9 .715 17,017 2, 512 3 ,507 46 lt>, 293 8.691 8,691 100 130 66,004 2,772 2,253 31,461 2,546 1.117 37,377 25,855 66,004 33,036 42 9,455 •3,909 (<& 1 2 ,0 3 6 10.008 2 1 6 .9i© 13,917 228,996 500 372 95,506 2 ,0 7 4 ,7 1 4 101 3,998 59,256 2,575 39,926 55,14-7 1 ,1 3 8 ,5 4 2 & 34 52,339. 7,235 154,112 65,191 1 ,3 8 4 ,9 1 9 26,317 621,299 6,894 2 6 , 34 95,506 Cj, 07 x } 7i.4: (b) ovc rd ra f t . Released for publication Sunday r.iorning September 9j 1917- ^ot earlier* 55(.!c STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER J, 191/'. (In thousands of dollars) federal Reserve Motes: Received from comptroller In Y ~ ^ 39^8^40 41,080 ilfe,o6o' 116.620 60,087 I S .000 57,330 SL440 27,427 37,765 268,149 45,087 47,890 25,867 Collateral held by F.R,Agent as security for outstanding notes Gold coin and certificates on hand 19>550 Gold redemption fund 2,055 With Federal Reserve Board 2,000 Commercial paper, minimum required 14,160 185,205 4,220 2,488 23,479 12,379 2,511 20,000 72,500 ..14,900 TOTAL .Amount of commercial paper de livered to F. R.Agent 473,760 71,500 4$ , 7 65 12.000 584,76$ 9}«vel. Rich-. Atlanta Chica-Q. St.LouU 64,000 Chargeable to F-R* Agent In hands of F.R. Agent Issued to F.R.Bank lass amount returned to F.R. Agent for redemption 4)6. , 680 10,444 • # * 1,560 — ---- «mn*a 'fcas.Uy. ite-LJ—: S.rran 33,100 Ijl.1 ? j 33 , 272114,325 5,150 23,580 28,122 90,745 • • % 3,338 • * » 650 10,000 1,222 20,050 287 13,000 15,217 27,175 2,690 38, 6Uo 45,720 1+2,920 J_ 31,641 37,008 3,590 _ 8 36 0 4V, 28,051 24,485 28,048 32,615 6,425 26,190 13,102 90 3 2,250 2,370 953 14,060 12,610 1 , 280 78,537 1,005 12,160 3.512 11.921 7.967 11,796 3,353 Total 33/760 1 , 065,660 H.UOD lbU.h /2 29 , 674 885,088 * « ♦ 205,015 29,671 A ftO H OOUj U7(-jZ 2,644 1,434 2 8 ,2h0 256,127 25,232 213,420 10,665 9,656 « * * 185 .294 680,073 37,765 268,149 45,087 47,890 25,867 28,122 90,745 24,485 28,051 28,048 26,190 29,674 14,176 73,256 14,905 13,004 15,346 4,017 12,141 7,971 11,796 10,942 9,664 * ft « 187,218 O R A I A 28,048' 3,801 24,247 26,190 29,674 3, 357 26,317 680,073 M E M • £ Federal Reserve notes outstanding and in actual circulation. F.R. notes outstanding 37,765 F. R. Notes held by banks 3J56 F. R. Notes in actual circulat:Lon 32,009 268,149 28.162 239,987 Within Bills discounted and bought Municipal warrants 45,087 47,890 1x586, 1,951 43,501 45,939 25,867 2.021 23,846 28,122 2.580 25,542 90,745 6,097 84,648 24,485 1,422 23,063 1,706 26,345 Distribution of Bills and Warrants by Maturities. l6 to 30 days 31 to 60 days 6l to 90 days 15 days 123,459 28,051 56,671 126 96,983 20 57,455 335 25,855 over 90 days Total 1 8U8 58 3 UI, 416 204 58,774 621,299