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r I ' "Released, f o r p u b l i c a t i o n Sunday morning September g, l g i g , | Not e a r l i e r . X-11J6 STATEMENT FOR TM September 7, 1918 Continued gains i n d i s c o u n t s , mainly of war loan paper, a l s o i n note c i r c u l a t i o n i r a indicated by r,ha Federal Reserve Board's weekly bank statement i s s u e d a s a t close of business on September 6, 191S. INVESTMENTS: Discounted b i l l s on hand show an i n c r e a s e f o r the week of 113-8 m i l l i o n s , a l l the banks except Kansas City r e p o r t i n g s u b s t a n t i a l a d d i t i o n s to t h e i r holdings of discounted p a p e r . Of the t o t a l reported S3-3 per cent as a g a i n s t 62,5 per cent the week before i s r e p r e s e n t e d by war paper, x . e , , b i l l s secured by Treasury c e r t i f i c a t e s and Liberty bonds, Acceptances on hand' increased 1,2" m i l l i o n s , although the New York bank shows net l i q u i d a t i o n of t h i s c l a s s of paper« An increase of 2.3 m i l l i o n s in Government short-term s e c u r i t i e s i s due p a r t l y to the t a k i n g by New York . of a d d i t i o n a l Treasury c e r t i f i c a t e s to secure Federal Reserve bank note c i r c u l a t i o n . Total earning a s s e t s show an i n c r e a s e f o r the week of 116»6 m i l l i o n s . DEPOSITS. Government d e p o s i t s increased $2,6 m i l l i o n s , a l l the banks except Richmond and Dallas r e p o r t i n g l a r g e r amounts of government funds on hand. Members' reserve d e p o s i t s show a decrease of 13.5 m i l l i o n s , while net d e p o s i t s show a gain of 28.7 m i l l i o n s . RESERVES: The weem saw a f u r t h e r gain of 3*2 m i l l i o n s i n gold r e s e r v e s • Largely as a r e s u l t of a r e t u r n movement of f u n d s from the i n t e r i o r , the New York bank r e p o r t s a gain of 33-5 m i l l i o n s in t o t a l r e s e r v e s . The banks' r e s e r v e percentage shows a decline from $0.4 to 5^>9 per c e n t . F 0 T S CIRCULATION: Federal Reserve Agents report a net a d d i t i o n of 100.8 m i l l i o n s to F.R. notes outstanding, The banks show a gain f o r the week of 88 m i l l i o n s i n F,R, i ^ . a c t u a l c i r c u l a t i o n , besides an increase of 3.3 m i l l i o n s i n t h e i r aggregate l i a b i l i t i e s on F.R. bank n o t e s i n c i r c u l a t i o n , CAPITAL. An increase of $191,000 i n p a i d - i n c a p i t a l i s due l a r g e l y to payment f o r Federal Reserve bank stock by newly admitted members, Hie l a r g e s t gains under t h i s head are shown f o r the Chicago, St, Louis, P h i l a d e l p h i a and Richmond banks. CONDITION OF MEMBER BANKS, AUGUST 30, I9IS. Further reductions i n the holdings of Treasury c e r t i f i c a t e s and Liberty bonds are indicated by the Board's • c o n s o l i d a t e d weekly statement showing c ondition on August 30 of 734 member banks i n leading c i t i e s . Large withdrawals f o r the week of Government depcsits^are i p a i t l y o f f s e t by s u b s t a n t i a l gains in net demand d e p o s i t s . ,, Treasury c e r t i f i c a t e s on hand show a decrease of 28*2 m i l l i o n s and U,S. bonds, other than c i r c u l a t i o n bonds - a decrease of 11.9 m i l l i o n s . For the c e n t r a l reserve c i t i e s a decrease of 21.9 m i l l i o n s in c e r t i f i c a t e s and a s l i g h t increase of 1.6 bond s i s ; , n o t e d . Loans secured by government war o b l i g a t i o n s de- mrnmmmm 16^1 per cent ° P17 Q^mf"n83 r e s e r v e c i t y banks t h i s share shows a decline from I 6 . 5 to d e p o s i t s i n d i c a t e net withdrawals during the week of -»*' S " : 7 - i n S s : h o " .^0r r e p o r t i n g banks the r a t i o of loans and investments to t o t a l d e p o s i t s P e r cent, while f o r the banks i n the c e n t r a l r e s e r v e c i t i e s v 10 " # ° .6.3 o b t a i n s f o r the two dates under d i s c u s s i o n . The r a t i o of wserye and cash to t o t a l d e p o s i t s shows a r i s e from l 4 . 6 per cent to 15.5 per cent r e p o r t i n g banks and from 15.9 to 17 per cent f o r the banks i n the c e n t r a l Excess r e s e r v e s of a l l r e p o r t i n g banks work cut a t 136.5 m i l l i o n s , y1 ^ m i l l i o n s tne waeK before . For the c a n t r a l reserve c i t y banks an increase in t h i s item from 64.6 to IO9.3 m i l l i o n s i c noted. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis L Released f o r p u b l i c a t i o n Sunday morning September g , 191s. u0t earlier, STATB4M1 OF COMBINED RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 6 , 1918. RESOURCES September 6, l g i g August 30, 1918 Gold in vault and in t r a n s i t 3S3.225,000 $ $354,009,000 Gold settlement fund, F.R.Board 496,531,000 520,926,000 Geld with f o r e i g n agencies 5.82q .000 Total gold h e l d "by "banks 2^5,589,000 910,764,000 Gold with Federal Reserve Agents 1,087,760,000 1,061,597,000 Gold redemption fund 4l .431.000 — 4 3 , 6 3 4 , 0 0 0 Total gold r e s e r v e s 2,015,983,000 2,013,794,000 Legal tender n o t e s , s i l v e r , e t c . 53,511.000 53 .168.000 Total r e s e r v e s 2, Of0/494,000 2,066,962,000 B i l l s discounted f o r members and F.R.Banks 1,5^1,9^000 1,428,235.000 B i l l s bought in open market €33.7^.000 232.563.000 Total b i l l s on hand lo b 1,715,740,000 1,660,79s ,000 U,S-Government long-term s e c u r i t i e s 29,768,000 30,350,000 U.S.Government short-term s e c u r i t i e s 28,030,000 25,772,000 All other earning a s s e t s • 75.000 67.000 Total earning a s s e t s 1,833,613,000 1,716,987,000 Uncollected items (deduct from gross deposits) 642,377,000 568,655,000 f p Redemption fund against F.R. bank notes 1,313,000 1,164,000 All other resources 12.076.000 11.787.000 TOTAL RESOURCES 4,559,873,000 4,365,555,000 L I A B I L I T I E S Capital p a i d - i n 78,359,000 78,168,000 Surplus 1,134,000 1,134,000 Government deposits 197,325,000 104,729,000 Due to members - r e s e r v e account 1,465,102,000 1,478,639,000 Collection items 46l,64o,ooo 437,885,000 Other deposits including f o r e i g n g o v ' t , c r e d i t s nq.Q6o.ooo 120.100.000 Total gross deposits 2 , 2 % , 027,000 2,141,553,000 F.R, n o t e s in a c t u a l c i r c u l a t i o n €,180,679,000 2;,092,708,000 F.E. bank notes in c i r c u l a t i o n - n e t l i a b i l i t y 23,964,000 20,687,000 All other l i a b i l i t i e s 31.710.000 31.305.000 TOTAL LIABILITIES 4459,873,000 4,365,555,000 Ratio of t o t a l r e s e r v e s to net deposit and F»R« note l i a b i l i t i e s combined 54.$ 56.4$ Ratio of gold r e s e r v e s to F.R. notes in a c t u a l C i r c u l a t i o n a f t e r s e t t i n g aside 35$ a g a i n s t deposit l i a b i l i t i e s |i\ Digitized "»&et for FRASER 69. 72.5£ u X-1176a September 7, 1917 $ 4i4 ,433 ,000 395,853,000 52.500.000 862,786,000 ^9^,779,000 7.218.000 1,364,783,000 50.608rOOP 1,415,391,000 168,217,000 173,199,000. 341,416,000 45,394,000 42,441,000 52%&QSL 429,780,000 228,996,000 500,000 47,000 2,074,714,000 59,256,000 39,926,000 1,138,542,000 154,112,000 53,339.000 1,355,919,000 621,299,000 6,394,000 1,346,000 2,074,714,000 79.6$ Released f o r p u b l i c a t i o n Sunday mon:.mg September 8', i q i 8 . Not e a r l i e r . WEEKLY STATEMENT OF RESOURCES AliD LIABILITIES FOR EACH OF 'THE FEDERAL RESERVE BANKS AT CLOSE OF (In thousands of d o l l a r s . ) RESOURCES Boston New York P h i l a . Cleval. Riehm. Atlanta Chicago St.Louis Gold in v a u l t and in t r a n s i t 2,819 257,998 279 22,566 6,l6l 6,829 €6,761 1,200 Gel-. settlement fund, F.R.Board 71,5^0 107,592 55,317 53,713 26,400 12,862 64,450 25,-286 Gold with f o r e i g n agencies 4os 2,011 4cs %5 £C4 175 Sib 233 Total golA h e l d by banks 74,M 397,601 60,004 77,104 32,765 19,866 92,027 26,719 i 3 4 t n — t s -^ ^ ^ L e S i £ £ ™ m v „ 7 , 4 - i , 8 *>•% ta s i X-1176b BUSINESS SEPTEMBER 6, l g i g Minn- Kans.Cy. Dallas San Fran. Total 8,222 353 6,962 12,778 383 228 10,011 23,965 9,340 32 055 yg&'lsl 2» 291 SOU s KV, 18,466 24,609 16,506 45,155 885,589 ^ ^ i.«%,%o -^ ^ 5 3 g » g g i 3 7 - ^ *•"*•%> Bi:i-" a disoomtea for numbers and 75s,*»z6 177,606 213,63 5 75,Sk 49,194,277,601 Sl,82g >9.897 83,700 33,335 137,357 2,070,494 B i r n ^ i n open m a x * e t Tobal b i l l s en hand 111,338 U S^ovexnment long-warn s e c u r i t i e s 742 U- 5 Government short-term « l,4l6 Ax,- other earning a s s e t s — Totai earning a s s e t s 113,496 Uncollected items (deduct from Migg 704 861 108,549 125,200 1,4 5 0 1,347 2,292 13,881 1,211 1,725 68^6 1,233 1,510 720,192 111,107 129,217 71,599 1'Sl 58>76 620 4,508 991 2,112 67 60,156 267,528 65,0# 1,154 ll6 321 9^0 g 63,906 66,130 5 / E e a L p S o n S l f ^ d against r.H. "2'°^ 31,661 4i,g 5 4 banknotes All ° t n e r resources TOTAL RESOURCES 55,102 40,713 7 6,4 7 4 ^ g g 5 7 . ^ 7 3 ^ 2 ^ ^ 6 1 ^ ^ 8 868 3 977 3>6l 29 768 1-269 1 651 1 003 28 030 __ 75 67,610 51,754 110,918 1,833,613 9 v ' ' 14,373 53,514 22,792 35,925 642,377 — 424 50 18 200 400 137 84 1,313 # 1,973 1.665 5Q7 828 757 1. S6S n£l PQg q 18 77A 1.382 12.076 298,828 1,650,032 35^,9^9 398,551 189,002 l 4 l , 7 8 6 623,368 188,150 124,602 206,142 108,797 275,666 4,559,873 l i a b i l i t i e s paid-in burp^uo Government d e p o s i t s Due to members, reserve account G,510 20,109 25,259 90,751 75 O t t i r S . u s ^ i n c i n d i n g foreign government c r e d i t s Total gross deposits ^ F . R ^ n o t e s in a c t u a l c i r c u l a t i o n 8,751 3,94s 31.789 661,057 16,928 £0,979 92,5^9 110,500 6,138 4?,152 123 988 "5-570 OH-9 ' ... 147,998 l4l,s4o 7,33%- 43 222 • 116 33 469 ' 3,137 10,796 3,721 2,883 3,590 3,059 8,011 33,839 34,510 194,153 9,158 50,724 8,946 36,129 11,890 60,632 6,284 31,659 Uo 21 738 - 216 47 086 • u&JM — 184 — p* — 933 , 665 155,047 174,885 86,759 64,287 275,078 078,298 190,452 212,398 96,678 73,303 328,297 35,396 i£g 95,446 87,705 - i s 38 9,897 78,359 1 134 18,104 197'325 55,286 1,465 102 29,53% 13,624 26,124 2r ... 54,997 102,060 65,410 90,500 , ; . a 4,521 J : 5 461,640 n o ofin ? 7 p4 51,567 1 0 2 ^ 3 8 2,244,027 50,384 l 6 5 , 4 l 4 2,180,679 3 i £ , , a Released f o r p u b l i c a t i o n Sunday morning September 8, 1918. Not e a r l i e r . x-iiySc STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER 6, I 9 I 8 . (In thousands of d o l l a r s . ) FFIf.rUL RESERVE NOTES: Received from Comptroller Returned to Comptroller Chargeable t o F.R.Agent In hands of F.R.Agent I s s u e d to F.R. bank l e s s amount r e t u r n e d to F.R. Agent f o r 7 redemption Boston New York P h i l a . C l e v e l . Richm. A t l a n t a Chicago St -Louis Minn. Kans.Cy. Dallas San F r a n . T o t a l 198,140 1 ,,078,080 251,940 261,220 136,920 120,860 4i4,74o 126,500 84,,080 123,700 74,340 190,760 3,057,280 -38*131 243,587 46,-237 23,044 28/656 £2.203 28.620 21,274 16.0Q7 21,112 17.978 n.l6q 520.568 159,749 834,493 205,703 238,176 108,^64 98,657 386,120 101,226 67,983 102,538 56,362 177,331 2,536,712 ^,200 32*200 5.120 15.520 5,100 22,205 4lT720 6,5b0 1.670 7.720 5.325 2l6.q4c 145,949 742,293 200,583 222,656 103,164 76,452 344,400 94,666 66,313 94,868 51,037 177,391 2,319,772 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on b-:nd 5,000 Geld redemption fund 7,205 Gold s e t t l e m e n t f u n d , F.R. Board 47,500 E l i g i b l e paper,minimum r e q u i r e d s6 c44 To t a l 145,949 163,740 — 23,Slj> 2,504 13,102 11,081 219 <g4o 13,425 9,574 10,763 1,439 2,106 362 2,589 1,335 2,253 e, 553 7,7^6 61^690 1?0,000 101,921 100,000 40,000 20,870 178,863 49,131 8,300 55,360 684 84,2 01 806,830 445.128 88.788 88,080 61,725 50,972 165.175 42,946 4^.576 37.^5 36.689 85.464 1 232.012 742,293 200,583 ^2^656 103,164 76,452 344,400 94,666 66,313 94,868 51,037 177,391 ^,319,772 AMOUNT OF EHGIBLE PAPER DELIVERED TO F. R. AGENT 704,861 92,53s 124,574 66,014 51,333 260,90s 4s,305 57,434 57,473 46,126 92,950 1,719,854 111,33s MEMORANDA F . R. n o t e s o u t s t a n d i n g F . R. n o t e s h e l d by bank F.R.notes in actual circulation 145,9^9 . 4,109 141,840 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. 742,293 200,583 222,656 103,164 76,452 344,400 94,666 66,313 94,868 63,995 'in, in, 131—10,25a 131—10,25% n,4%6 aJi&B 3,149 , In, 103 103 0,56.1 6,56.1 903 4,368 4.368 .63,995 $03 678,^98 190,452 2i2 f 3 9 g 96,67s 73,303 328,297 87,705 65,410 90,500 51,037 177,391 2,319,772 653 11,477 rsqr0<» 50,384 165,4l4 2,180,8]$ DISTRIBUTION OF BILLS, U.S.GOVERNMENT SHORT-TEBM SECURITIES AND WARRANTS BY MATURITIES. B i l l s d i s c o u n t e d and bought U.S..Government s h o r t - t e r m s e c u r i t i e s Municipal w a r r a n t s Within 15 days 5,388 16 to 3 14 3,722 31 to 60 days 248, tot i,o46 . 4i 6l 2 o days 1,527 10 Over 90 days 15,302 16,347 16 Total 1,775,740 <-8,030 67 ReXeacsd tor p\Mi?.ation Sunday morning September E, igiS . Not e a r l i e r . STATMEMT SHOWING PRINCIPAL RESCUI'Cl; AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER X-ll?6d SELECTED CITIES AS AT CLOSE OP BUSINESS AUGUST 30, 1918. (In thousands of d o l l a r s . ) 1. Data f o r a l l reporting banks in % each d i s t r i c t . Boston -New York . P h i l a . - C l e v e l . . Richm. .Atlanta.Chicago .St.Louis Minn. -Kans.Cy. Dallas.San Fran. Total No- r e p o r t i n g "banks 42 102 50 85 77 45 96 32 35 73 45 52 734 U.S.-bonds to secure c i r c u l a t i o n l 4 , 3 6 l 50,172 12,770 42,209 24,331 15,667 18,408 1?,408 6,369 13,710 17,629 34,505 267,539 Other U.S.bends including L i b e r t y bonds 12,092 234,009 28,277 4?,996 28,301 22,304 56,368 16,090 11,390 15,556 14,988 27,608 514,979 U . S . c e r t i f i c a t e s of indebtedness 49,084 460,753 48,457 70,573 27,658 27,222 106,734 27,666 18,412 30,547 14,428 49,580 931,ll4 Total U.S. s e c u r i t i e s 75,537 744,934 89,504 160,778 80,290 65,193 181,510 61,164 36,171 59,813 47,045111,693 1,713,632 Loans secured by tms/Donds,etc. 40,000 204,924 44,245 35,844 20,632 7,802 59,017 13,089 11,442 4,236 5,lU4 8,656 455,031 All other loans and investments 766,717 4,361,771 609,794 977,6)6 3 57,869 289.746 1,421,425 378,542 275,535 461,626 178,062 537,125 10,615,868 RESERVE with F . R . bank 64,71*2 663,815 55,311 86,500 30,275 26 528 14),442 34,598 17,475 48,830 l4,834 45,813 1,232,163 Cash in v a u l t -22,930 115,136 18,617 29,720 16,651 13,472 68,761 11,569 7,674 15,567 11,303 19,836 351,236 Met demand deposits 654,927 4,352,751 584,633 733,552 313,736 206,894 1,052,463 267,883 157,83-2 384,215 138,571 383,440 9,230,897 Time d e p o s i t s 97,882 269,982 14,311 236,001 52,144 91,444 357,189 76,028 45,403 67,279 25,615 116,742 1,450,090 Government deposits 46,963 257,052 32,o66 42,392 l4,42o 13,822 57,913 15,761 26,045 21,678 7,653 12,139 547,910 2. l a t a f o r banks in each c e n t r a l r e s e r v e c i t y , banks in a l l other reserve c i t i e s , and other r e p o r t i n g banks. New.York .Chicago-St-Louis Totaf Cen.Res.Cities Reserve C i t i e s . Country Banks. Total Aug.30^-Aug.23 Aug ."30 Aug.30 Aug.30 Aug.23 Aug.30 Aug.23 Aug-30 Aug.23 Aug.30—-Aug.23 No- r e p o r t i n g banks 69 69 4o l4 123 123 446 446 165 165 734 734 U~S-Bonds to secure c i r c u l a t i o n 36,278 36,260 1,132 10,308 47,718 47,363 171,714 172,400 48,107 48,117 267,539 267,879 Other U.S.bonds including L i b e r t y bends -212,4o6 2 03,935 23,770 10,280 246,456 244,825 217,871 230,352 50,652 51,687 514,979 526,864 U . S . c e r t i f i c a t e s of indebtednessL.36,929 455,880 55,463 20,-642 513,034 534,944 356,151 361,015 61,929 63,345 931,114 959,304 Total U.S. sec-urities 685,613 697,125 80,365 4 i , 2 3 0 807,208 827,131 745,736 763,76? 160,688 163,149 1,713,632 1,754,047 Loans secured by U.S.bonds,etc. 134,052 198,817 42,070 9,980 236,108 252,990 192,125 193,043 26,798 27,479 455,031 473,512 All o t h e r leans and investments ^Ql6, 821 4,035,712 863,43 1 275,745 5,155,997 5,191,868 4,633,684 4,649,91-2 82b, 187 815,912 10,615,868 10,657,692 Reserve with F.R.bank 633,007 588,019 99,896 27,083 764.986 712,486 413,929 397,828 53,24s 55,429 1,232,163 1,165,743 Cash in v a u l t 103,379 106,993 32,330 5,774 l4i,4s3 144,617 175,543 161,85s 34,210 3 6 , 4 I S 351,236 342,893 Net demand deposits 4,050,583 3,992,146 704,3.13 195,806 4,950,702 4,889,814 3,630,859 3,566,005 649,336 654,638 9,230,897 9,110,457 Time d e p o s i t s 3T.'*S>;3 213,515 129,97 5 54,097 401,915 405,544 855,168 847,976 192,937 191,762 1,4%,020 1,445,282 Government deposits 237,075 336,569 37,739 12,899 287,713 408,224 227,584 309,796 32,613 47,759 547,910 765,779 Ratio of combined r e s e r v e and cash to t o t a l n e t d e p o s i t s , per, cent 'i 17.1 15.9 17.1 l4.S • 17.0 15-9 ' 14-3 13-5 — — 15-5 14.6
@FedFRASER