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XReleased f o r p u b l i c a t i o n Sunday morning, August 19, 19^7* Not e a r l i e r .
STATEMENT FOR THE PRESS
August 18, 1917•
S u b s t a n t i a l i n c r e a s e s in b i l l s held, including both paper discounted
and acceptances purchased in open market, also large net withdrawals of
Government d e p o s i t s are indicated by the Feddral Reserve Board's weekly
bank statement issued as at c l o s e of business on August 17, 1917•
Member banks'reserve d e p o s i t s show a gain almost as large as the
l o s s shown in Government d e p o s i t s ,
New York and some of the i n t e r i o r
banks reporting considerable increases in reserve d e p o s i t s .
Acting as
f i s c a l agent f o r the Government New York
paid during the week 90
m i l l i o n s to the a l l i e d Governments of Great B r i t a i n and France, while an
a d d i t i o n a l 20 m i l l i o n s was transferred from the banks to Washington f o r
account of the Treasurer of the United S t a t e s , part of t h e s e funds coming
from depository banks.
Large amounts received by the Federal reserve
banks tin account of the third installment (30 per cent) of the Liberty
Loan, were redeposited w i t h q u a l i f y i n g number and non-member banks.
Aggregate gold and cash reserves show but l i t t l e tihange, though there has
been considerable s h i f t i n g of reserves from New York to other Federal
Reserve banks *
The r a t i o of cash reserve to n6t d e p o s i t s declined during
the week from 79*3 t o 77»4 per cent, w h i l e the note reserve percentage
shows a r i s e from 9 0 . 1 to 91.7 per c e n t .
Discounted paper on hand increased about 9*7 m i l l i o n s , most of the banks
reporting considerable gains under t h i s head.
Of the t o t a l on hand 44.7
m i l l i o n s , as against 4 4 . 1 m i l l i o n s the week b efo re, i s represented by
member banks' c o l l a t e r a l n o t e s .
Nearly 25 per cent of these notes were
secured by United S t a t e s Liberty Bonds or United S t a t e s C e r t i f i c a t e s of
Indebtedness, the t o t a l , 1 1 . 1 m i l l i o n s , being about 1»5 m i l l i o n s below the
corresponding t o t a l of a week ago.
Acceptances on hand show a gain of about 5*5 m i l l i o n s , feoston, Philadelphia and San Francisco reporting the l a r g e s t additions' to t h e i r holdings
of t h i s c l a s s of paper*
The increase in United S t a t e s bonds on hand i s
probably of a temporary character sending the f i n a l allotment of Liberty
bonds t o ultimate purchasers.
Holdings of municipal warrants i n d i c a t e
Cont'imied l i q u i d a t i o n .
Total earning a s s e t s show a gain of about 17 m i l l i o n s and c o n s t i t u t e
647 per cent of the banks' p a i d - i n c a p i t a l , compared with 620 per cent
shown the week b e f o r e .
Of the t o t a l , 4 1 . 3 per cent i s represented by
acceptances, 38*2 per cent by discounts, 2 0 . 2 per cent by U• S. s e c u r i t i e s ,
and 0 . 3 per cent by warrants.
Admission to membership in the system of the S t a t e Bank of Chicago and
l i q u i d a t i o n of some member banks in other d i s t r i c t s account for the increase of $123,000 i n c a p i t a l account.
Government d e p o s i t s with the New
York bank.declined about 6 l . l m i l l i o n s and with a l l banks about 3^*3
millions.
The smaller d e c l i n e in t o t a l Government d e p o s i t s i s e v i d e n t l y
due to the large i n s t a l l m e n t payments received by the other banks on
account of the Liberty Loan, a portion of which i s s t i l l on hand. Member
bank reserve d e p o s i t s increased 2 9 . 2 m i l l i o n s , a l l the banks, except
Philadelphia, Richmond and Kansas City, reporting appreciable gains f o r the
week .
Kansas City reports an increase in i t s l i a b i l i t y on account of Federal
reserve bank notes in c i r c u l a t i o n from $4,182,000 to $4,907.:000. Federal
reserve agents give a t o t a l of $613,646,000 of notes outstanding, secured
by $502,588,000 of gold and $120,711,000 of paper.
The banks report a
t o t a l actual Federal reserve note c i r c u l a t i o n of $558,782,000, an increase
of $9,538,000 f o r the week.



Released f o r p u b l i c a t i o n Sunday morning, August 1Q, 1917.

Not e a r l i e r .

X-334-

STATEMENT OF COMB I FED RESOURCES AND LIABILITIES OF THE TV3ELVE FEDERAL RESERTi 5 BANKS AT CLOSE OF BUSINESS AUGUST 17, 1917.
S ^ S O U R C E S
August 17, 1917 August 10, I 9 I 7 •
August 18, 1916
Gold coin and c e r t i f i c a t e s i n v a u l t
• - • • • $399,198,000
$413,849,000"
$260,926,000
Gold s e t t l e m e n t f u n d . 410,502,000
409,852,000
110,001,000
Gold w i t h f o r e i g n a g e n c i e s
. • . *52,500.000
52.500.000
T o t a l rold h e l d by banks
862,200,000
876,201,000
370,927,000
Gold w i t h F e d e r a l Reserve A~ents
502,588,000
485,467,000
162,036,000
.Gold redemption fund
9.795.000
9.274.000
1.991.000
T o t a l gold r e s e r v e s
1, 37^, 583,000
1, 370,942,000
53^,954,000
Legal t e n d e r n o t e s , s i l v e r , e t c
52.906,000
53,117.000
16.998.000
Total reserves
.
1,427,489,000
1,424,059,000
551,952,000
B i l l s d i s c o u n t e d - Members
143,946,000
134,229,000
26,756,000
B i l l s bought i n open m a r k e t
155• 129.000
149,790.000
80.118.OOP
T o t a l b i l l s on hand
299,275,000
284,019,000
106,894,000
U.S.Government l o n g - t e r m s e c u r i t i e s
45,129,000
41,276,000
47,029,000
U.S.Government s h o r t - t e n a s e c u r i t i e s . . . . .
30,552,000
32,604,000
7,885,000
Municipal w a r r a n t s
223, 000
1.274.000
27.788.000
T o t a l earnin-: a s s e t s
376,179,000
359,173,000
189,596,000
Due from o t h e r F. R. Banks - Net
11,688,000
( a ) 1,655,000
21,068,000
U n c o l l e c t e d items
230.704'000
205.761.000
T o t a l d e d u c t i o n s from g r o s s d e p o s i t s
242,392,000
204,106,000
21,068,000
5# redemption fund a r a i n s t F.R.Bank n o t e s
'-500^000
500,000
500,000
All other resources
.
1, 882!000
425.000
3.226.000
TOTAL RESOURCES
p 048 442 000
1,988,263,000
766,342,000
L I A B I L I T I E S

""Capital p a i d in
Government d e p o s i t s
110,110 000
Due t o members - r e s e r v e account
1130,817,000
Due to non-member banks - C l e a r i n g account
11,637,000
Member bank d e p o s i t s - Net
C o l l e c t i o n items
171,916,000
Total gross deposits
F. R. Notes in a c t u a l c i r c u l a t i o n .
F.R.Bank n o t e s i n c i r c u l a t i o n , n e t l i a b i l i t y
All o t h e r l i a b i l i t i e s i n c l u d . f o r e i z n G o v t . c r e d i t s . . . .
TOTAL LIABILITIES
*
Gold r e s e r v e a g a i n s t n e t d e p o s i t l i a b i l i t i e s
Gold and l a w f u l money r e s e r v e a g s t . n e t d e p o s i t l i a b i l ' s
• Gold r e s e r v e a ^ s t . F . R . n o t e s i n a c t u a l c i r c u l a t i o n . . . .

(a) Net amount due t o F.R. Banks.


'

58,093,000
140,447,000
1,101,614,000
10,274,000
1,424,480,000
5 5 8 ,7 8 2 ,0 00
4^907^000
2'iso'ooo
2,048,'442^000
72.9^
77-4$
gi„7$

57,970,000

55,110,000
49,717,000
505,090,000

122.491.000
1,3?U, 828,000
549,244,000
4,182,000
2.019.000

1,988, 263,000
74.8$
79.3/"

90.1$

554,807,000
154,444,ooo
1,691,000
290.000
766,342,000
69.5£
72.7$
106.2%

Released f o r p u b l i c a t i o n Sunday morning, August 19, 1917*
-Not e a r l i e r .
JC-33UC
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 17, i g i f .
( I n t h o u s a n d s of d o l l a r s )
R E S O U R C E S
Boston
N.Y.
P h i l a . C l e v e l . Richm. A t l a n t a Chicago S t , L o u i s Minnls- Kas.Cy. D a l l a s S . F r a n Total
Gold coin and c e r t i f i c a t e s i n v a u l t
$26,372 199,222 27,506 3 1 , 3 4 1
6,257
7 , 0 7 4 40,305 4 , 7 2 8
16,931
8,365 13,460 17,637 399,198
Gold s e t t l e m e n t fund
13,855 166,408 22,568 5 2 , 9 2 8 2 3 , 0 5 3
2 , 4 6 6 41,252 2 2 , 2 7 1
7 , 4 4 3 38,399
4 , 2 1 2 15,647
410,502
Gold w i t h f o r e i g n a g e n c i e s
C.J uu
4.,
1» 13 V fcj.AvU
j-» 0 ,0
Atpy,
c , OC3
• u f 7 - 71§.icr>
T o t a l %old h e l d by banks
43,902 383,742 53,749 8 8 , 9 9 4 31,147 11,115 88,907 29,099
2 6 , 4 7 4 49,389 19,510 3 6 , 1 7 2
862,200
24,846 228, 312 32,539 30,747
Gold w i t h F e d e r a l Reserve Agents
2 1 , 1 2 4 14,507 14,056 27,539
8 , 3 5 3 20,039 64,555 1 5 , 9 7 1
502,588
Go^fcRedemption Fund *
600
700
56
854
% 250
417
243
185
456
524
15
395
9.795
^ ^ T o t a l gold r e s e r v e s
69, 248 617,304 -86,988 119^797 4 0 , 3 5 4 3 1 , 5 7 1 153,705 4 5 , 4 5 5
4 8 , 0 5 4 64,420 33,961 6 3 , 7 2 6 1 , 3 7 4 , 5 8 3
.Legal t e n d e r n o t e s , s i l v e r , e t c .
141
1.331
629
713
3.120 1.760
3,445
126
405
1.291
313
39,632
52.906
Total reserves
72, 693 656,936 88,319 1 2 0 , 4 2 6 40,495 32,284 156,825 4 7 , 2 1 5
48,459 6 4 , 7 3 3 35,252 6 3 , 8 5 2 1 , 4 2 7 , 4 8 9
B i l l s d i s c o u n t e d - Members
17,016
13,582 13,168 1 0 , 2 3 1 15,945
5 , 4 3 4 16,310 9 , 6 4 1
13,197 13,730
143,946
8, 695
6,997
B i l l s bought i n open m a r k e t
18,749
56,791 17.630 1 7 . 0 9 8
668 18,392 2 , 8 1 3
3,182
25 1 1 . 1 9 8
2.531
6.252
155.329
T o t a l b i l l s on hand
6 , 1 0 2 34,702 1 2 , 4 5 4
13,222 2 4 , 9 2 8
70,373 30,798 2 7 , 3 2 9 19,127
35,765
9 , 5 2 8 14,947
299,275
UeS»Government l o n g - t e r m s e c u r i t i e s
610
2,806
1,152
' 704 12,004 2 , 2 5 5
8,849
549
7,918
1,859
45,129
3,970
2,453
U»S*Government s h o r t - t e r m s e c u r i t i e s
2,194
1,868
1,784
2,548
2,973
3,522
3,364 1,471
3,538
1,969
1,554
3,767
30,552
Municipal w a r r a n t s
• * *
« * *
• » •
« * •
Hi
1.046
• » .
46
1.223
Total earning a s s e t s
38,569
76,717" ^ , 0 ^ - 3 9 > 2 6 6 22-,248- 1 0 , 3 2 8 50,0.70 16,180
16,635 35,561 15,412 21,167
376,179
Due from o t h e r F,R*Banks - n e t
11,428
6,244
11,688
360
5,068
3,299 28,541
595
53
U n c o l l e c t e d items
16.867
"52,622 31.^22 28.067 12.275 1 0 . 7 7 9 39.020 13.450
8 . 2 4 6 12.279
6,504
9,073
230.704
T o t a l d e d u c t i o n s from g r o s s d e p o s i t s
52,622 31,522 18,067 18,519 14,078 67,561 13,450
28,295
242, 392
8,299 17,347
7,099
9,433
5 ^ Redemption Fund a g * s t F.R.Bank Notes
* * *
*#*
-*«
»4*
***
400
100
500
tj*
All other resources
» » *
w«•
10
72
...
1.570
1,882
230
^ O T A L RESOURCES
72,193 110,127 5 9 , 2 9 3 1 0 2 , 3 6 6 2 , 0 4 8 , 4 4 2
139,557 786,275 153,867 177,769 81,262 5 6 , 7 6 2 274,456 7 8 , 4 1 5
W l A B I L I T, I E S
C a p i t a l p a i d in
5,141
12,119
2,524
2,382
7,647 3 , 2 6 1
3,203
5,277
6,165
3,443
2,757
3,974
58,093
Government d e p o s i t s
6,824
110,110
i ; e 2 8 11, 831
425
19,669
3,760
6 . 3 I O 12»5J6
4,297
33,472
5,503
3, 655
Due t o m e m b e r s - r e s e r v e a c c o u n t
7 2 , 2 5 2 440,849 63,955 1C4,648 35,410 2 5 , 4 7 2 150,288 4 3 , 4 5 5
36,819 6 6 , 0 7 2 2 6 , 9 5 4 6 2 , 4 3 2 1 , 1 3 0 , 8 1 7
Due t o nonmember b a n k s * - c l e a r i n g a c c ' t .
. *»
» ^
»
« f .
11,461
176
11,637
Collection items
7,011
11,663
13,452
30,184 36,617 1 6 , 5 9 2 i o , 326
171,916
5 , 6 5 4 32,316 9 , 2 7 4
2,952
2,875
Due t o o t h e r P.R.Banks — n e t
* # •
36.615
...
...
1,523
1.415
4.^47
Total gross d e p o s i t s
4 5 , 2 7 4 77,380 3 5 , 4 8 4 7 4 , 0 9 5 1 , 4 2 4 , 4 8 0
105,373 5 5 2 , 5 8 1 105,728 132,097 5 8 , 2 7 2 3 2 , 9 5 4 194,435 5 4 , 7 0 7
F,R,Notes in a c t u a l c i r c u l a t i o n
2 8 , 6 7 1 220,195 4 2 , 6 3 8 39,307 19.499 2 1 , 4 2 6 7 2 , 2 7 9 20,447
24,377 24,628 21,052 24, 263
558, 782
F.R.Bk.Notes in c i r c u l a t i o n , n e t l i a b *
—
...
...
...
4,907
• * *
4,907
All other l i a b i l i t i e s including foreign
4
34
18
»1 *
95
*••
Govemment c r e d i t s
48
2,180
224
...
372
1,380
TOTAL LIABILITIES
8
1
,
2
6
2
5
6
,
7
6
2
274,456
7
8
,
4
1
5
7
2
,
1
9
5
1
i
n
,
1
2
7
59,293,
102,366
2
,
0
4
8,442
139,557 786,275 153,867 177,769
(a) D i f f e r e n c e between n e t amounl ;s due from and n e t amounts due t o o t h e r F. R* Banks,



...

* A +

<* *

»

*

#

*

»

m 0

*

*

..*

...

*

% *

*

•

»

*

*

f o r r e p l i c a t i o n Sunday m o r n i n g August 1^, 1917^st, e a r l i e r
STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, AUGUST 1?,
( I n t h o u s a n d s of d o l l a r s )
Boston
N. Y*
P h i l a . C l e v e l . Richm- A t l a n t a Chicago S t . L o u i s Minn's
Reserve Notes:
d fro™ C o m p t r o l l e r
$62,680 1459,760 66,900 64,000 35,OUo 37,180 112,060 32,500 38,6U0
d to Comptroller
ible t o F, R. Agent
50,746 371,732 56,339 57,688 23,006 30,008 108,844 26,028 32,010
5,890
15,900 125,420 11,000 14.941
s of F. R. A^ent
2.300
4,390
7,100
29,899
to F.R,Bank l e s s
it j ^ ^ u r n e d t o F.R.
34,846 246,312 45,339 42,747 20.706 22,908
7 8 , 9 4 5 21,638 26,120
~ f^JPredemption

&_3j)4b
igif,
Kas,Cy.
'42,720

Dallas S.Fran.
36,920 31,160

34,615
9,280

27,066 27,539
5,855

845,621
231,975

25,335

21,211

613,646

2,370
1,077
11,060

12,610
1,242
204

4,996 10.828
5,667
14,390
7 8 , 9 4 5 .21,638 26,120 25,335
w.w
-—
p
f

7,155
21,211

Total

1,019,560

*al h e l d by F. R- A~ent
i r r t ; for outstanding
o i n and c e r t i f i c a t e s
id
edemption fund
' e d e r a l Reserve Board
*cial p a p e r , minimum
Lred
'AL
f commercial p a p e r de)d t o F* R. A~ent

21,210 217,905
1,636 TO,407
2,000

4,220
8,582
2,46o 2,165
25,859 20,000

18,000
10,000
34,846 246,312

12,800
45,339

12,000 1 2 , 3 5 3
42, 747 20,706

2,869
22,908

10,164

12,805

12, 618 .19,127

2,978

18,877

853
7,500

3,441
1,858
14,740

374
64,181

14,581

3; 353 14,102
858 1, 272
11,760 5,750

5,670

4,996

10,861

849
26,690

287,793
25,051
189,744

27,539

111.058
613,646

8,034

120,711

U K 0 R A ND A
F e d e r a l Reserve n o t e s o u t s t a n d i n g t and i n a c t u a l c i r c u l a t i o n >tes o u t s t a n d i n g
t e s h e l d by banks

34,846 246,312 45,339 42,747 20,7-06
6,175 26,117 2 , 7 0 1
3,440 1,207
1 2 8 , 6 7 1 220,195 42,638 39,301 19,499
W i t h i n 15 days

.scounted and bought
il w a r r a n t s

i




99,799
1,028

22,908
1,482
21,426

7 8 , 9 4 5 21,638 26,120
6,666
1,191
1,743
72,279 20,447 2 4 , 3 f 7

25,335
101
24,628

D i s t r i b u t i o n of B i l l s and W a r r a n t s bv' M a t u r i t i e s
16 t o 30 days
31 t o 60 days
6l t o 90 days
Over 90 days

56,555

90,114
146

49, # 2

3,335

49

21,211 27,539
159 3 , 2 7 6
21,052 24, 263
Total

299,275
1,223

613,646
54,864
558,782