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# * • * •Released for publication Sunday morning Nov* 18, 1917 Not earlier# STATEMENT FOB THE PBESS, X512 Nov. 17, 1917# Payments to Reserve banks of tne 18 per cent installment on account of the second Liberty loan and. redemption by the Government of j>00 millions of Certificates of Indebtedness are reflected to some extent in the weekly bank statement issued by the Federal Reserve Board as at close of business November 16, 1917, These operations affect Government deposits which show an increase of I59.7 millions, members' reserve deposits which increased about 73*5 millions during the week and most of all uncollected items, i. e. checks and drafts on banks both within and outside the districts deposited with Federal Reserve banks, which show an increase for the week of 156*7 millions, A considerable portion of these items is made up of so-called transfer drafts, mainly Eastern exchange, bought by Western Reserve,banks ana for which immediate credit is given to member banks * By far the larger portion of payments on account of the Liberty loan made apparently in the form of book credits and U» S, Certificates of Indebtedness. Aggregate gold holdings of the Reserve banks show a further in<xrease of about 11 millions, while their Federal Reserve note circulation increased by about 40 millions. The New York Bank reports a decrease of 14,4 millions in reserve and an increase of 23.8 millions in reserve deposits mainly from payments of reserves by newly admitted members, and decreases in both Government and non— numbers' clearing deposits. Its bill holdings decreased about 31 millions following the liquidation in some volume of member banks' collateral notes secured largely by Government bonds and certificates. The bank reports an increase of about 150 millions in its holdings of U» S. Certificates of Indebtedness which fall due during the coming weAfci The bank disbursed to foreigh Governments during the week a total of"105 millions, of wuich 50 millions went to Great Britain, 4u millions to France and 15 millions to Italy, Discounts held by the banks decreased 22,3 millions, the larger de— , crease reported by the New York Bank being partially offset by substantial increases shown nnder this nead by Boston, Philadelphia, Cleveland and Chicago* w 4 Nearly two-thirds of the discounted paper on hand is in the form of member banks' collateral notes, the total held, 319,6 millions, indicating net liquidation of j6«9 mil].ions of this class of paper for tiie week. About 208.2 millions of these notes, compared with 300*3 millions tne week before are secured by Liberty bends and U. S. Certificates of Indebtedness. Acceptances on hand show an increase of 12,9 millions, New York and San Francisco reporting the largest gains for the week. Outside of New York the banks show net liquidation of about 4,5 millions of U. S. short-term securities. Other earning assets show little or no change for the week. Total earning assets shew an increase of 136,4 millions and constitute at present 13&7 per cent of th-3 banks5 paidin capital, compare a with 12U7 per cent the week before. Of th^ total, discounts ' constitute 52,7 per cent, U. S. S»cuii1£.i<»# ,%6o£ $$r-.ba£».fc ^-acceptances - 21,0 per cent and warrants 0,1 per cent, Payments on capital account by newly admitted members are reported by four Reserve banks, the total paid-capital of the system showing an increase for the week of $1,346,uoOv The list of institutions which paid, for stock of the Reserve banks includes among others the Union Trust Company, the U, S. Mortgage and Trust Co and Columbia Trust Co of New York, also the Wayne County and Home Savings Bank of Detroit, and the First Trust and Sayings Bank of Ch^-wo Government deposits show large increases at the Boston, Philadelphia, Cleveland, Richmond, Chicago and St. Louis banks, while increases in dauber banks' reserve deposits Were heaviest at the Boston, New York, Chicago and San Francisco banks. The non-member banks' Clearing Account shows a further reduction following admission to membership of a number of large trust companies in New York City and tne transfer of their clearing accounts to the reserve deposit coluun. There has been a n addition of $43,236,uuv to the total of Federal Reserve notes outstanding, all the Agents reporting substantial note issues for the week. The total of $1,03&,62U,0U0 outstanding is secured by $629,906,UUU of gold and $431,182,000 of p»par. The banks report an actual Federal Reserve note circulation of $97-2,585.*OUO, an increase of $40,073»0u0 for the week. Released for publication Sunday morning November IS, 1917. Hot earlier. STATEMENT OF COMBINED RESOURCES AHD LIABILITIES OP THE "SVYELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER l6, I917. R E S O U R C E S : November l6, 1917 November 9, 1917* Gold coin and certificates in vault....................... $5^6,792,000 $5v7,403,0uu Go?-d settlement fund. . 363,710,000 385*724,000 Gold with f oreign agencies 5@, 5yv,0w 52,500,000 Total gold held by banks.. 945>v02,vuv 94-5,627,000 Gold with Federal Reserve Agents*..*. o29,906,0v0 bib,254,000 Geld redemption fund. ll t 4$0 t Qoo ll,496,0o0 Total gold reserve. *.. . ... $1,584,328,UUO $1,573,377,0v0 Legal tender, notes, silver, etc,.....w...............;... .— 52 t 2Q8,0u0 Total reserves...I»63o,853,0v0 1,625,585,000 Bills discounted - Members....................t....;...,., 487,850,006 ... Bills bought in open m a r k e t 1 9 3 » 8 6 9 , 0 0 0 181,001 *000 Total bills on hand..... . 681,719,000 691,155>OOu U,S.Government long-term-securities................t...... _ 5^#00£»000 53,743,000 U*S»Government short-term securities.<i................... 42,367>0vv Municipal warrants l»2|3«yyv .1,273)000 Total earning assets........ * ., 924-, 898,000 788,538*000 Cue froci other Federal Reserve Banks - Net....*........... 17,838,000 7,725,000 Uncollected it e m s . 4 2 8 , 5 4 4 , 0 0 0 ^ Total deductions froa gross deposits. 440,382,000 279*521,000 % Redemption fund against F. R. Banknotes.... . 537* v u u 537*000 All other resources 3,73b,vuu __ 2,989,000 TOTAL RESOURCES 3,ul2,4ub,u0u 2,697,170,ywO L I A B I L I T I E S . ' .... . . Capital paid-in. 66,691,000 65,345*000 Government deposits,......................................1,218,887,000 59*198,000 Due to members - reserve account 1,480,498,000 1,406,982,000 Due to non-member banks - clearing account................ 20,925*000 33>866,000 Member bank deposits - Net. «*. • Collection items..........i 240,437,000 187,022,000 Total gross deposits-. 1*960,747,000 1,687,068,000 F. R. Notes in actual circulation......................... 972,585,000 932,512,000 F. R. Banknotes in circulation, net liability 8,000,000 8,000,000 A H other liabilities including foreign Gov 1 t credits...,. 4,^83,000 4,245,000 T0TAL LIABILITIES 3,012,40b, w O 2,697,170,,000 Gold reserve against net deposit liabilities. • 62.2^ . of,l% Gold and lawful money reserve against net deposit liabilities 65.7% 70.8^ Gold reserve against F,R. notes in actual circulation..... 65• 9^ 67 «3^> X512a Nov 17, 1916. 293*441,000 140,821,000 434,262,000 238,458,000 1,283,000 674,103,000 16,580,000 690,683,000 19,704,000 97,789,000 117,493,000 39*115,000 U,lb7,000 18,597,000 186,372,000 59*773,000 59,773,000 470,000 6.121.OvO 943,419,000 55,704,000 25,171,000 622,254,000 647,425,000 233,670,000 1,030,0U0 590.000 943,419,000 73*9^ .. 76.7)6 100.5# Released for publication Sunday morning, November 18, 1917. Hot earlier. X-512b WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS. AT CLOSE OF BUSINESS, NOVEMBER 16, 1917. (in thousands of dollars) Boston RESO0EG»;b: N. Y. Phila. CI eve. Rich. Atlanta Chicago St.Louis.Minn. Kas.Cy Dallas S.Frqn. Total. 39,946 321,188 20,57 6 30,647 6,203 Oc1.1. 3oir. and certificates in vault 5,799 35,076 5,426 14,069 5,607 12,238 30,017 526,792 11,104 67,140 37,232 45,419 35,240 Gold settlement fund 9,411 67,007 21,923 14,070 20,508 15,603 19,053 363,710 3,675 Gold with foreign agencies 19,112 3.675 4.725 1.837 1.575 7.350 2.100 2.100 2.625 1.838 2.888 52.500 54,725 406,440 61,483 80,791 43,280 16,785 109,433 29,449 30,239 28,740 29,679 51,958 Total gold held by banks 943,002 31,692 174,325 50,529 46,192 31,997 39,892 98,474 38,359 39,353 30,209 27,757 31,127 Gold with Federal Reserve Agents. 629,906 1.000 5.000 Gold redemption fund 950 52 6}fr -M5 431 758 589 515 965 10 11,420 87,417 585,765 112,962 127,035 75,892 57,218 208,338 68,566 60,181 59,464 58,401 83,095 1,584,328 Total gold reserves 5.046 Le^STl tender notes, notes. silver, etc. 42.366 .858 500 193 282 1.499 606 315 59 588 213 52.525 92,463 628,131 113,820 127,535 76,085 57,494 209,837 69,172 60,49 6 59,523 58,989 83,308 1,636,853 Total reserves 36,286 223,297 16,046 25,386 10,775 10,157 76,813 17,181 13,475 31,900 10,423 16,111 Bills discounted - members 487,850 28.437 Bills bought in open market 31.220 25.859 34.444 12r191 5,596 5.624 7.465 10.537 4.951 10.372 17.174 193.86964,723 254,517 41,905 59,830 22,966 15,753 82,437 24,646 24,012 36,851 20,795 33,285 Total bills on hand 681,719 U.S.Government long-term securities 610 2,044 550 8,178 1,346 ,898 21,007 2,233 1,860 8,849 3,972 2,455 54,003 2,536 156,072 U.S.Government short-term securities 2,860 3,529 2,364 7,060 3,404 1,693 1,819 2, 210 2,824 1,533 187,904 Municipal warrants 10 i,o:T 25 _46_ ML 61,869 413,650 45,325 71,549 26,676 23,873 106,848 28,572 27,716 47,910 27,637 37,273 924,898 . **^eta3ti<iaming assets •?•?.%•: v,. if,452 Due from other F.R.Banks - Met 4,641 10,390 3,189 1,973 6,150 2,981 1,923 9,988 286 17,772( a)17,838 Uncollected: items so,is? 47.898 36.454 30.409 23.079 70.775 27.067 18.330 35.901 15.026 13.770 42Q, Total dudxrctitms iuitz ctrona from from gross gross deposits deposits 48,160 80,127 52,539 46,844 33,598 24,052 76,925 30,048 20,253 45,889 15,312 31,542 446,382 5% Redemption fund ag'nst F.R.Bank notes ... 400 137 537 All other resources -e-i^ •. , ~ 141 139 98 2.069 885 ... 404 3.7# TOTAL RESOURCES 208,4921,121,906 211,684 245,928136,500 105,558 393,fOg 129,861 199,350 153,722 102,479 152,123 3,012,406 t ' L I A B I L I T I E S Capital paid in 5,701 17,675 5,590 6,743 3,585 2,635 Government deposits 42,256 •: 3,485 19,267 46,017 23,872 4,673 87,647 657,133 63,991 101,442 44,324 33,498 Due to members reserve account 1 OO Due noruxember banks Clearing-ace't. 11,331 Collection items 18,420 51,196 31,934 20,940 15,971 10,870 Due to other F.R.Banks - Net 58.907 Total gross deposits 148,323 782,052 135,192 168,528 8#*167 49,113 F.R.Notes in actual circulation 53,805 319,481 70,429 70,432 48,748 53,810 F.R.Bank notes in circulation net liab. ... All other liabilities including foreign Government credits 663 2.700 473 225 TOTAL LIABILITIES 208,492 2,121,908 211,684 245,928136,500 105,558 (a) Difference between net amounts due from and net amount# due to other F. R. 8,549 25,367 183,756 5,911 38,889 3,444 14,438 48,562 46 16,073 2,581 14,559 42,917 36 5,252 253,923 131,236 79,119 47,298 62,764 100,058 44,005 42,018 3,372 11,393 74,968 2 13,695 8,000 2,783 3,334 43,450 . ... 6,451 4,033 66,691 10,236 218,887 78,810 1,480,498 3,398 20,925 10,746 240*437 53,225 103,190 1,960,74? 46,471 44,852 973,585 •»« ... 8,000 M JSL i >M, 393,708 129,861 109,350 153,722 102,479 152,123 3,013,406 bank#. Released for publication Sunday morning November 18, 193.7, Uot earlier X512c 1 STATEMENT OF FEDERAL RESERVE AGENTS ACCOUNTS AT CLOSE OF BUSINESS NOVEMBER 16, I9I7. -a . (in thousands of dollars')„ Federal Reserve Notes; Received from Comptroller Returned to Comptroller Chargeable to F.R, Agent In hands of F. R. Agent yat52u 12,14o 15,940 3,85w 39,180 3,590 5.290 7.995 5,650 ... 218.475 Issued to F«R.Bank less amount returned to F.R. Agent for redemption 57,612 n , W 7 ? , & g -»,267 w.l-jg 1 W . W 49.8^ 46.91S 51.5)1 1.018.630 Collateral held as security for outstanding notes; Gold coin and certificates on hand Gold redemption fund With Federal .Reserve Board Commercial paper, minimum required 27,060 2,632 165,460 8,865 2^,920 TOTAL Amount of cooaercial paper delivered to F. R. Agent 3 •*: *604 3,885 3,600 497 2,8£S 42,424 30,000 3 1 , 3 4 , v 7 0 275 98,199 2,512 13,102 ... 14,480 2,042 1,751 1,845 2,403 33,805 14,500 28,3$0 lo,674 ... 1,826 29,301 243,030 31,843 355,033 175,200 23,430 27.500 18.270 15.266 40.700 11.#7 15.996 15.173 19,158 20,404 408.714 57,612 34%525 73,959 73,692 5k,26?_55^158_13q^l74^_44.856__45.34q 45.582 46.915 51,531 1 638,620 25,949 180,842 23,436 27,534 22,966 15,294 20,795 26,405 431,182 2,000 M E M F. R. Notes outstanding F. R. Notes held by banks F, R. Notes in actual circulation Bills discounted and bought Municipal warrants i i 41,321 11,526 19*430 15,634 0 R A N DA. ' ' Federal Reserve Notes Outstanding and in act*ual circulation* IS TS 5 3 Within 15 days 373,281 8 ",M , '?•;£ "j-;;: ts -a i-g W 16 to 3^ days C - 1 E 31 to 60 days 6l to 90 days 68,475 113,067 509 98 1^1 147 1,036,620 66.035 w,G52 Over 90 days Total 5,139 681,719 511 1,273
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