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' . • • . X-127 Released, for publication Sunday morning May 6, 1917* Not earlier. STATEMENT *0R THE PRESS. May 5, 1917. Large gains in reserves and deposits, al3o substantial increases in earning assets, are indicated in the Federal Reserve Board’ s weekly statement made pub lic to-day as at close of business on May 4, 1917« Aggregate gold reserves of the banks show an increase for the week of 35*5 millions, while the gain in to tal reserves ia in excess of 44.5 millions * All the banks, except New York, re port larger reserves, Boston, Philadelphia and Kansas City being the principal gainers. Aggregate cash resources of the system, including amounts of gold and lawful money held by all the Federal reserve banks and agents, for the first time exceed 1,000 million dollars, having increased to $ , , , , or by $54,720,000, during the week. The New York bank reports decreases of about io.8 millions in total reserve and of 20.1 millions in gold reserve. Following large transfers to the credit o i othar Federal reserve banks its balance in the Gold Settlement Fund shows a de crease from 75 ,7 millions to 27,3 millions* This loss represents largely trans fers to the interior by ihe New York bank in settlement of checks and drafts on' New Ybfk originally deposited to the credit of the Government with other Federal' reserve banks inpayment of subscriptions to the recent short-term loan. As against the indicated loss in reserve the bank reports increases of IF *6 millions in investments and of over 2.6 millions in Federal reserve notes on hand. Boston'3 gain of 17<4 millions in cash reserve is due in the first place to the increase in Government deposits, also to liquidation of discounts and of the greater part of balance due from the New York bank. Increases of reserve re ported by other banks are due largely to the collection through the Gold Settle ment Fund of outstanding balances, and to gains in Government and reserve deposits, Discounted paper on hand shows an increase for the week of about 0*9 mil lion, the New York bank reporting the largest gain under this head* Of the total discounts held — $7,794.»000, is made up of member banks' collateral notes, over oO per cent of which are held by the New York, Philadelphia, and Richmond banks. Larger offerings of acceptances account for the gain of about 12.5 millions in the total holdings of this class of paper, New York alone reporting an increase of over 7*5 millions in the amount on hand. During the week the banks increased also their holdings of United States certificates of indebtedness by about 6*5 millions. No changes are shown in the amounts of United States bonds or Treas ury notes on hand, and but a slight decrease in the amount of municipal warrants held. Earning assets total at present $258, 811 , 000, and constitute 455 per cent of the banks' paid-in capital as against 424 per cent the week before. Of the total earning assets 32*4 per cent is represented by acceptances; 25*0 per cent by tf, fi.-ce'riificatit g i indebtedness; l4,0 per cent by United States bonds; 13*9 Fer cent by discount#; 9*0 per cent by Treasury notes, and 5*7 Per cent by warrants. Paid-in capital of the reserve banks shows an increase of $450,000. The week witnessed the admission to membership of the Mississippi Valley Trust Co»j of St.Louis, with a combined capital and surplus of 6*5 million dollars. Govern ment deposits increased about 8.2 millions, and reserve deposits about 23«4 mil lions. "Other liabilities" include a credit of 25 million dollars created during the week as the result of the Government's credit operations. Federal reserve agents report a total of $458,874,000, of notes outstanding; an increase for the week of $12,330,000# Against the total outstanding they hold $433,089,000 of gold and $27 , 31+3,000 of paper. The banks show an actual Federal reserve note circulation of $4-28,502,000, and aggregate net liabilities thereon of $18,974,000. 1 030 201 000 6 Released, for publication Sunday morning May , 191? * Not earlier, STATEMENT OF COMBINED RESOURCES AVI) LIABILITIES OF THE TWELVE E S O U R C E S . May U, $ , 0-0 d c^in a,nd certificates, in vajUiki. .....................................* * ., 1917 336 118,000 Gold f u n d . * *. -« .......................... ♦ ....... . 218,910,000 redemption fund with Total r e a . 66q.ooo 557>697,000 _39 , 4l 5,000 597, 112,000 4oo,000 settlement Gold Legal tender .Total Tive gold per "Bills notes, cent Bi l l s b o u g h t States in United States r Treasurer,..,, v e - . ......................... fund.against F. R, bank notes 35.916.000 M e m b e r s .................. ........... open m a r k e t . ..... ......... bonds. ui^a^fdar. I v o g s u r y States e t c ............................. . redemption - e silver, reserve •« discounted United United s ^ .* n o t e s - .............. .................... certificates of i n d e b t e d n e s s . ..... 14,755.000 .......................... 258,811,000 F e d e r a l R e s e r v e n o t e s - N e t . . . - « ......... .................. ......................... 23 , 561,000 Due from other F e d e r a l reserve - N e t . . . ..... ....... ................. 5 , 243,000 U n c o l l e c t e d i t e m s ............................................... ......................... 184, 639,000 A l l o t h e r r e s o u r c e s . * ............................. . ......................... 5,412.000 TOTAL RESOURCES...................................* ................................ .-$1,075,178,000 L I A B I L I T I E S . Capital paid i n . ........... .................................................................. 56,859,000 Goveindent deposits.............................................................. .......... 107,868,000 [Jue to members - reserve account................................................. 743,143,000 Titer bank deposits - N et........................ ................................. .. Collection items...... ............................................ .............. ........... 122,761,000 Federal reserve notes - N e t ........................................................ 18,974,000 federal reserve bank note liability........... ............................... ................. All other lia b ilit ie s ................................................................. . 25.573.000 TOTAL LIABILITIES..................................................... ......... . $1,075,178,000 Gold reserve against net deposit and note l i a b i l i t i e s ....... 6 7 .4 % Cash reserve against net deposit and note l i a b i l i t i e s ....... 7 2 .if Cash reserve ag'st net deposit liab. after setting aside 40$ gold reserve ag'st net liab. on F.R.notes in circulation— . J2, jf, MEMORANDUM: Distribution by maturities: May 4, 1917** * 1 - 1 5 days $41,038,000 Bills and acceptances........................................... ........................ Municipal warrants............. ............ n g 000 Municipal Toxal ........ ................. „......................... ....... 83.871.000 36.222.000 23,1+50,000 64. 597.000 warrants earning assets ........... 3H , 798,ooc 207*920,000 2 . 518.000 522. 236.000 -50*340,000 552.576.000 400.000 35.043.000 71. 400.000 36.223.000 23.450.000 58.145.000 - 14, 999,000 239. 260.000 20.622.000 132.000 204. 842.000 - 5 , 757,000 1.023.589.000 56. 409.000 99. 689.000 719.785.000 « * * « » I « . 129.032.000 18. 226.000 < 1 « V s « * « 448.000 1.023.589.000 68 . 6$ 72.5$ „ 73*3$ 16 - 30 days 18. 397.000 772,000 X-.12 / a. :w BUSINESS MAY 4, 1917. : BANKS AT CLOSE > February L‘, 1917 November 3 , 1916 May 5 , 1916 . 3 06 ,9 6 4, 000" 2 / 8 , 157,000 232,284,000 127,641,000 212 , 961,000 72,621,000 1 , 835,000 1,394,000 1 , 6q 2,000 521,760,000 407,192,000 306,597,000 6 . 88^000 12.185,000 10,259;000 533,945,000 414,076,000 316 , 856,000 400,000 420,000 362,000 14, 707,000 19 , 68?., 000 20, 300,000 93 , 112,000 85,081,000 47,647,000 30 , 550,000 4o,54o,ooo 50,137,000 18,647,000 11 , 367,000 3,840,000 « * »♦« V>4 • < **« <>1 * t *»• >«« 12,664,000 24,100,000 _39,154,000 169, 680,000 180,770,000 161,078,000 25, 515,000 17,749,000 26, 309,000 12,687,000 34,778,000 17,328,000 « « . . . . »• 126, 611,000 <« * * t « >1 1 3 0 5 3 ,0 0 0 3,071.000 3,761,000 881,991,000 650,864,000 525,694,000 55,725,000 23,333,000 689,878,000 «• t« t * * 101 , 232,000 11,471,000 . . . *** 352,000 881,991,000 76.0$ 77.8^ 78.4$ 31 - 60 days 34/741,000 11,441,000 55,709,000 28,686,000 54,862,000 40,414,000 " » * • * **» • « *%« * * * 552,386,000 419 , 943,000 *% «•» 12 , 627,000 1 , 031,000 425,000 650,864,000 7 2 .9 $ 74.1# 8,573,000 1,694,000 208,000 525,694,000 67.9$ 70 . 2$ 74 , 9$ 6l - 90 days 24,107,000 1 , 321,000 70,1% Over 90 days 1,504,000 1,102,000 Released for publication Sunday morning May 6 , -1317-* Not earlier. WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THe'feDERAT Rpcsirrw 0 ^ ,1T ,.r, X~12J b; 5 V L RESERVE BANKS AT CLOSE OF BUSINESS MAY 4. 1917. <In thousands of dollars) * ' r e s o u r c e s 183\Ifi Pn^-QQ^' n«eJno’ ■ A'^lan'ta Chicago St.Louis Gold coin and certificates in vault $14^282 $ 14,282 183, 37b 20,335 18,692 6 ,6 7 4 6,13*1 34,370 q 895 Gold settlement fund Gold redemption fund 3° ' m z1,U 1K 3it 27' 6g50______644 20- ^ 7^4oi 7 * 3207 $ 5 : 167 ^ 252-—§50---52---Total gold reserve 44/378 ■210,. 971 36,237 46,372 27 , 4o4 14,462 59,022 15,472 Legal tender notes, silver, etc. 442 -3-3,178 102 523. 128 -234 l,.?73 | Total reserve fflyL2 0 : .,g U M ^ ,6 ,8 ,0 H6, U7Q I ^ r » T f q r ~ T o i l » -'Vb‘. 7 ^ f redemption fund - F. R. bank notes ~~ -- ~ - __~ Bills discounted - members 3,576 3,763 2,158 2,219 7,528 2,4l4 2,745 2,792 Bills bought in open market 7,530 24.135 -11,3 6 1 A l883 -6^520. -2,823 -Lg-19 .3.234 Total bills on hand 11,293 27,7-11 -13,527 8,102 14,118 8,964 5,237 6,026 United States bonds 530 1,306 542 5,844 1,152 672 7,006 2,233 One-year Treasury notes 2,194 2,788 2,548 1,865 1,969 1,491 2,985 1,444 U. S. certificates of indebtedness 3,J300 -27^70 3,500 5,485 2,000 2,567 5,005 3,205 Municipal warrants 12L _5*.Q79 - 1 *422. -2^893 11 25. 2,186 1,043 Total earning assets 17.144 64,154 21.546 ■ g j Llg9 1^7254, 9,978 26,146 13:951 Federal reserve notes - Net 2,432 . 23,622 -1,177 4,238 Due from other F. R. banks - Net 4,138 -.209 1,935 860 4,398 3,158 71 Uncollected items JL2vi)40 UO,3 D2 22,639 13,689 9,606 8,400 34,904 10,642 All other resources 51 ____ 1,237 ____ 100 82 1.001 460 656 TOTAL RESOURCES ■10,625 3 6 3 ^ 4 81,798 87,564 5 7 , 3 .3. 129,449 41.869 L I A B I L I T I E S . ^ t p it a l paid in 5,074 1 2 ,1373 5,253 6,239 3,438 3,140 2,393 7,057 ^^vernment deposits 1^,695 7,779 9,224 8,780 8,365 12,594 1,821 7,895 Due to members - reserve account 50, 84D .27-4,673 -44 ,916 60,332 26,464 17,907 99,970 28,269 Collection items 9,891 . 28,986 20,621 12,213 8,268 4,890 14,527 7,161 • Federal reserve notes - Net -. 1,654 10,790 1,389 1,478 Due to other F. R. banks - Net 14,971 . . All other liabilities ,-125 25,182 130 TOTAL LIABILITIES f -gP. Sgj M E M O R A N D U M . F . R. notes issued t,e Jbanks F, R, notes held by banks F. R. notes in circulation Gold and lawful money with Agent (a, 2M -j6V6et _ " v 18,931 81,798 87,561* .2 9,657 21,050 M 184,541 n 'jM V * 1 2 9 .UUq l6i t i 19 16,166 18,954~ Minnls 12 011 1 : °31+9 s 17 >616 24l 17 .857 4,229 _5J±I1 9,702 1,743 1,452 2,000 IL L 15,074 2,887 Kas »Cy* Dallas S . Fran. 7,903 8,476 13,310 34,812 9,786 11,175 101 ___ 45_ .151 42,870 18,363 24,530 -1,998 3 ,174 _26jL 4,13 7 1/718 2,263 8,792 1,784 3,966 1,430 2,500 2,900 560 _43A15.770 12,993 303 889 — - - 8, 66 1 -.176 68.988 6,362 2,432 3,081 4,147 28,745 10,876 2,744 3,063 6,835 5,071 116 4X 005 2,618 48,196 757 £3- ^ 38V 895~ ! O f r ~ 2r ^ 988 * ‘U i 218,910 2,669 557,697 39,415 400 35,916 773 1 l£Q4_ -83,871 8,707 119,787 2, 429 36,222 1,500 23,450 5,165 64,597 811 14,755 18.612 258 iail 1, 789 23,561 2, 094(a) 5,243 12,117 184,639 202 5,412 -59,432 1,075,178 9,014 23,395 3,050 3,935 12,678 39,436 3,256 1,045 W 743,143 122,761 1 m ^178 111 20- m 56,859 107,868 18,974 425 H-lTsjq ~grfo5q~" 68. 15f a ! inn 100 300 545 Total 336,118 ^ 1 °- ^ hi I™ Released for publication Sunday manning May Sj 1917» Not earlier. X-327 c * 1 STATEMENT OF FEDERAL RESERVE AGENTS ACCOUNTS AT CLOSE OF BUSINESS MAY U, *1917. ‘ (In thousands of dollars) F:--d?ral Reserve Notes: deceived from Comptroller Boston Amount held by F. R* Agent in reduction of liability on outstanding notes: On hand; G-oIa coin ?jid certificates 52,l4o 32,200 3> 72,017 8,217 5*433 ) , 5 6 7 30,113 8 As security for outstanding -notes Commercial paper Total 5 0 20,260 1,103 267,263 69,100 2 , 5 4 0 4 , 5 4 0 4 9,62 0 2,850 , 3 8 3 22,227 1 6 188,678 3 , 7 3 0 10,457 tt 1 , 6 3 3 1,270 9 , 4 8 5 ♦i • »» ......... ... 1 -=6,767 198,163 » • . • ♦ 2 2 , 6 4 0 3 , 3 8 , 3 9 0 57,120 5,739 2,087 , 7 7 0 ♦ « < 3 7 6 5 ,0 0 0 3 0 , 6 4 1 5 5 , 0 3 3 10,955 10,900 19,686 4 4 , 1 3 3 2 , 8 9 7 < * » # v 4p,720 4,558 5,005 5,673 20,382 29,635 4 4 , 9 4 0 6,490 , 7 0 0 15,682 23,145 6 , 4 6 5 13,918 660 1 3 , 4 8 0 42,490 6,270 4 2 3,610 1,000 22,227 16,770 19,6.86 44,133 »* 11,629 « 34,640 2 643 2,121 * • St.Louis Minnls. Kas.Cy* Dallas S. Fran. Trfcal, 1 , 1 8 8 11,394 0 3 1 , 3 8 3 3 10,500 36,380 9 ^ 3 8 0 3 1 ......... 21,363 4 3 , 3 2 3 29,500 198,163 .......... Amount of commercial paper delivered to Federal Reserve Agent , 7 21,363 ^ ^ e d i t balances: In gold redemption fund With Federal Reserve Board Clevel, Richrru Atlanta Chicago 339,280 In hands of F. R. Agent issued to F, R. bank- less amount returned to F. R, Agent for redemption Phila. $39,680 ^^kfcrned to Comptroller Chargeable to F* R. Agent N. Y« ^ 1 2 5 1,013 8 9 7 , 2 8 7 15,682 2 , 2 9 5 2 3 , 7 , 1 2 4 0 5 3,610 3 5 , 0 4 36,920 7 2 4 , 9 7 7 , 0 4 1 3,108 139,325 8 , 8 7 9 20,952 608,255 8 , 4 8 6 20,393 2 , 3 7 0 10,110 1 , 3 6 7 1,170 20,560 6 8 0 2 4 , 9 7 7 7 8 4 2 747,580 8 2 10,070 24,060 * * * • * 20,952 4 , 8 0 0 20,110 1 , 3 1 3 •f ^ ^ 0 , 3 9 3 2 0 , 9 5 2 4 9 , 3 8 1 5 8 , 8 7 4 2 5 8 , 8 8 5 8 4 2 7 2,497 1 1 2 0 , 6 3 4 5 3 , 5 7 0 2 5 , 7 8 5 458,874 27,343
@FedFRASER