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Released for publication Sunday morning, May 12, 1918. Not earlier* STATEMENT FOR THE PRESS X-937 May 11, 1918. Aggregate gains of 2 ? . 2 millions in gold reserves traceable in part to cash payments for Liberty bonds and accompanied by larger increases in deposits and investments are indicated in the Federal Reserve Board's weekly bank statement issued a/s at close of business on May 10, 1918. RESERVES: Substantial gains in reserves reported by the Philadelphia, Rich mond* St, Kansas City, Dallas and San Francisco banks are accompanied by gains in deposits ar.d additional note issues, also by liquidation of balances due from other Federal Reserve banks. DIVESTMENTS: Discounts on hand show an increase of 65.6 millions for the week, the New York bank'alone reporting an increase of 48.9 millions. Of the total, nearly two-thirds, or 612.3 millions, as against 606,7 millions the week before, is represented by paper secured by Government War obligations. Acceptances on hand fell off about 11 millions, all the Western and. Southern banks with the ex ception of Richmond, showing Smaller holdings than the week before. Holdings of U, S. bonds declined 1,1 millions, Philadelphia and Chicago reporting the largest decreases under this head, An increase of about 75 millions in Government short term securities is reported by the New York bank. This amount of certificates was issued to the Bank in anticipation of payments to Government account for Lib erty bonds and will be liquidated in a few daysi Total earning assets show an increase for the week of 123.2 millions. CAPITAL: Admission to membership of State banks and Trust com]® nies and pay ment for Federal Reserve bank stock accounts largely for the increase of $69,000 in paid-in capital, mainly of the New York, Atlanta and Dallas banks, DEPOSITS: Government deposits show an increase bf 64.6 millions, mainly at the-New York, Cleveland, St, Louis and San Francisco banks. Members' reserve de posits show a net gain of 73,6 millions, New York, Philadelphia and Cleveland re porting the largest increases under this head, FEDERAL RESERVE NOTES: Ne’t issues of Federal Reserve notes during the week totaled 36,4 millions. The amount of Federal Reserve notes in actual circulation is stated as 1*569.6 millions, an increase of 13 millions for the week. CONDITION OF MEMBER BANKS MAY 3* 1918. . . against Large increases in demand deposits as • net withdrawals of Government de posits, mainly from New York City banks, togetner with liquidation in some volume of certificates of -indebtedness and of loans secured by Government War obligations are indicated by the weekly statement of condition of 686 member banks in lead ing cities as at Close of business on May 3* Total reported holdings of U, S. bonds, including Liberty bonds, show an in crease of 5,4 millions* though central reserve city banks report a reduction under this head of about 1,6 millions* Certificates of indebtedness for the first time since April 5 show a decrease for the week, largely through liquidation of cer tificates issued irt anticij&tion of tax payments. Total holdings of U, S. securi ties declined 17,6 millions during the week, whiie loans protected by such secur ities decreased 4.4 millions. As against these decreases, other loans and invest ments show an increase 6f 52,2 millions and total loans and investments an increase of over 30 millions. Of the latter,. Government securities and loans supported by such securities constituted 20 per cent or slightly less than for the last week in April, •Reported reserves, about 79 per cent of the total held by the'-Federal Reserve banks, show a loss of 18.3 millions, and cash in vault a gain of 6,3 millions. For the central reserve city banks reductions of about 29 millions in reserve and of 2,4 millions in cash are shown. Aggregate net demand deposits increased during the week by 159,5 millions, time deposits decreased 2.8 millions and Government deposits+- ,63»3 ,millien$. For the central reserve city banks an increase of 119,9 m iliionf/iseMi6wn ff^ga^nst reductions of 37,1 millions in time deposits and of 68.8 millions in Government deposits, The ratio of loans and investments to total, including Government, de posits shows a decline from 110,8 to 110,1 per cent. For the central reserve city banks this ratio declined from 107 to 106.2 per cent. The ratio of combined cash and reserve to total deposits of all reporting banks declined from 13,9 to 13,6 per cent, while for the central reserve city banks this ratio shows an even lar ger decline from 15,3 to 14,8 per cent. Excess reserves of all reporting banks declined from 97,5 to 60.9 millions. For the central reserve city banks,a decline from 76,7 to 33.3 millions is-noted. Released, for publication. Stmday morning iv<ay 1 2 , 19 1 8 . earlier X-937a STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF TEE TWET.'',E WIDERAL BESERVE BANKS AT CLOSE OF BUSINESS MAY 10, 191s R E S O U R C E S ^ay 3 1918 May ,1917 ■ay , 1918 Gold coin and certificates in vault 482. 336.841.000 480.580.000 Gold settlement fund - F.R.B0ard 437.771.000 2 a , 759,000 437.444.000 Gold with foreign agencies 52.500.000 52.500.000 Total gold held by banks 973.103.000 558.600.000 970.524.000 Gold with federal Reserve Agents 862.296.000 438.323.000 885.027.000 Gold redecipt ion fund 2.687.000 -24. A J XX3. £7 .584.000 Total gold reserve 10 11 832.000 1.859.940.000 1 ,883, 135, 00q Legal tender notes, silver, etc. 59.365.000 Total reserves 1.919.983.000 1 , 942, 600,000 Bills discounted for members and F.R. banks 873.442.000 939.041.000 Sills bought in open market 297.029.000 286.056.000 Total bills on hand 1.170.471.000 1.225.077.000 U. S. G yerninent long-term securities (b) 4l,!£*3,000 40,116,000 U. S. Government short-term securities 106,762,000 (b) 36,37& ooo A n other earning assets ____ 2,537*0.00 1.844.000 Total earning assets 1.250.569.000 1.373.799.000 Due from other F.R.Banks - net 23,080,000 (a) (fc) 6,494,000 Uncollected items 462,220,000 39S .6 s 5. PQQ j^otal deductions from gross deposits 376,605,000 455,726,000 c foRedemption fund against F.R* bank notes 557,000 404,000 All other resources ________ 66.000 ......... 329-QQQ TOTAL RESOURCES 3,548,023,000 3,772,495,000 L I A B I L I T I E S Capital paid in 75,049,000 75,118,000 Surplus 1,134,000 1,134,000 Government deposits 73,888,000 138.529.000 Due to members - Reserve account 1,474,518,000 1,548,137,000 Collection items 257,593,000 309.773.000 Other deposits including foreign government credits ___ 91»5fo.,QflO 110.611.000 Total gross deposits 1.897.562.000 2.107.050.000 F. R. notes in actual circulation 1.569.618.000 1.556.660.000 F. R. banknotes in circulation - net liability 7,878,000 7 ,980,000 A n other liabilities 11.697.000 ____ a»63a*oaa TOTAL LIABILITIES 3.543.023.000 3.772.495.000 Batio of gold reserves to net deposit and F.R. note liabilities combined 60. 1$ 58.5 Ratio of total reserves to net deposit and F.R. note liabilities combined. 60.3 6 2 4 (a) Net amount due to other Federal Reserve Banks. (b) Gorrected figures _________6 0 , 0 4 3 , 0 0 0 0 5 . $ 999.610.000 3 6 . 1 4 9 . 0 0 0 1.035.759.000 39.534.000 - 9 7 , 1 5 5 , 0 0 0 , 136.689.000 36 222,000 8i,539,ooc _ 1 4 , 8 5 3 , 0 0 0 269.303.000 1,3^5,000 310.685.000 312.030.000 4oo,ooq 5.913.000 1 ,^ 23 ! 4 0 ^ 0 0 0 56,859,000 242.421.000 740.726.000 134.447.000 1.117.594.000 438.218.000 10.734.000 1.623.405.000 8 0 . 4 # 83-3# Released for publication Sunday morning May 12, 1918. Not earlier X~937^ WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL, RESERVE BAMS AT CLOSE OF BUSINESS MAY 10 , I 9I 8 . (In thousands of dollars) R E S O U R C E S Boston New York Phila* Clevel. Richm-. Atlanta Chicago St*Louis Minn. Kans# C y . Dallas San Fran* Total Gold coin and certificates in vault 10,393 3^5^59 9,285 23,050 6,Ul7 6,6o4 30,622 2,019 11,257 337 5 A 53 29,384 480,580 Gold Settlement Fund F, R, Board 6l,OU 6 68,797 5J.572 49,274 14,710 11,162 61,036 23,118 14,098 ^5,793 7 >054. 23,784 437, U4U Gold with foreign agencies 060 IjiSj B_ 2,100 U0T2-. 1 6 ,lie __iai>75.,. 1.575 ^.725 .2,I5_Q. 2,100 Total gold held by banks 14,045 970,524 56,056 75,114 432,368 70,532 99,008 27,237 28,055 48,755 77,049 22,964 19,341 885,027 Gold with Federal Reserve Agents 73,855 19,220 48,116 248,154 S3,735 100,073 31,200 33,354 146,376 29,037 34,875 37,032 Gold redemption fund 1.262 27.584 2,000 •l. 167 788 12,500 2,500 695 917 1 . ?6s 1,529 1.773 1,685 Total gold reserves 125,230 693,022 156,767 1 77,SI7 55,081 54,380 247,152 57,803 64,703 86,575 34,527 130,078 1SS3.135 Legal tender notes, silver, etc* 2,773 196 2 ,4 s 4 296 42.881 1.469 5,572 549 802 398 105 1.835 -52*365 Total reserves 127., 714 735,903 152,236 17S,366 55,479 55,182 252,724 59 , 638 ' 64,808 86,871 37,305 130,274 1942,500 Bills dis. for members & F#R*Banks 939,041 50,265 450,024 38,429 87,882 43,852 20,910 51,325 27,705 37,790 55,149 51,637 24,073 Bills bought in open market 18,862 126.650 25,727 286,036 2.6 o 4 1.555 18.849 S. 999 10 , 12s 14,417 45,665 5.695 6,885 Total bills on hand 69,127 576,674 64,156 69, 566 57,332 30,958 133,547 52,851 31 , 03s 53,929 29,260 56,639 1225,077 U«S»Goveminent long-term securities 2,461 40,116 616 7,800 1,234 8,865 3,981 926 1,347 7,161 2,233 1,577 1,915 U, S.Govemiient short-term " 1,421106,762 1,720 511 1 .S 96 4,571 1,324 2,390 1,217 77,335 1,523 3,517 9,337 All other earning assets 1.8 44 152 ia i5_ 201 35 231 55 I5 _ Total earning assets 71,164 655,526 67,893 S6,703 60,089 33,263 144,456 55,796 34,322 67,400 36,272 60,855 1373,799 Due from other F. R, Banks - net « 1 , 69s 6,281 * 6,494 8,496 8,202 • 8,816 7,972 21,599 Uno ol1 ec t ed it ems 23.216 77,358 42,860 49.701 41,194 29,175 462.220 50,307 49,643 14,638 38.104 18.072 2L.95.2 T o t a l deduct.from gross deposits 18,072 * 46,076 24,914 -77.35S 42,860 455,726 41,194 71,906 27,952 58,139 20,919 57,903 37,991 hnk 5$ Kedemp^fund against F.R.Ek*notes * ,267 »* 137 All o t h e r r e s o u r c e s • • 1 66 1 65 TOTAL RESOURCES 223,792 l 468,847 269,054 322,972 156,762 126,437 469,086 173,573 120,049 200,614 91,786 219,081 3772,495 . «« • lr • ................... % % « • « « • « « _ m » m L I A B I L I T I E S Capital paid-in Surplus Government deposits Dae to members, reserve account Collection items Due to other F* R* Banks - net Other aepos«,incl,for*Gov11 . credits Total gross deposits F* R* notes in actual circulation F« R*±>k<* notes in circul-net*lifcab* All other 15_abil5.ties TOTAL ? LIABILITIES 6,460 75 1,661 m « « 19,736 649 33,028 94,501 18,129 * « • 6,909 m * * • 4 » • * # 8,508 ^ 1,945 109,7S4 675,135 57,052 23,183 62,457 1,992 102,566 114,291 930, 23s 136,904 102,484 511,004 125, 21+1 m • 0 # 27,77S 117,703 22,990 * •*« « • * * 266 168,737 145,092 *- 3,S03 116 9,486 44,413 31,789 391 ■* ♦ • 2,977 40 4,470 40,386 21,069 . m ■» • 5 65.330 57,490 ♦ * * 106 223,792 1468,847 269,054 322,972 156,762 126,437 482 7.220 635 9,707 3,524 + J* m ♦* • .................... 86,079 66 ,658 * « * * + 2,773 216 38 8,250 20,670 8,544 192,555 49,660 42,706 * 23,546 * - 34,913 3 . 21U 227,565 230,506 « • «. 1,092 11,177 4 * * * » * **6l 1^5,304 64,198 . * 3,471 6,807 64,637 45,223 * * * 4o 54,44o 547 ..-331 469,086 173 * 573 120,049 m * • 2 , 93s 4,312 1,834 4 l,l6 4 6,963 3,955 14,056 75,493 13,739 763 # * * *+V-/*T 7 5 ,H S 1,134 138,529 1548,137 309,773 4,459 110,611 53,916 108,510 2107,050 34,740 106,024 1569, 61s • * » 62,467 116,667 * « ♦ 71,741 7,878 857 200,6l4 * * 192 91,786 • *■■ * 235 7,878 11,69.7 219,081 3772,495 * Difference between net amounts due from and net amounts due to other Federal Reserve Banks = Net amount due to other Federal Reserve Banks* Released for publication Sunday morning May 12, 1918Not earlier STATEMENT O F'FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MAY 10, 1912 (In thousands of dollars.) FEDERAL RESERVE NOTES Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Received from Comptroller Returned to Comptroller Chargeable to F. R.Agent In hands of F.R, Agent Issued to F.R. banks less amount returned to F.R. Agent for redemption 149,560 1 2 2 , 4 7 6 14.920 101456 COLLATERAL HELD AS SECURITY FOR OUTSTANDING NOTES: Gold coin and certificates on hand 31.000 Gold redemption fund 5,6l6 Gold settlement fund F.R.Bd*. J.1,500 Eligible raper,minimum re<luir^5 9 .440 Total AMOUNT OF ELIBIBLE PAPER DE LIVERED TO F.R. AGENT 853,080 184,200 ,U 5 M - 69,127 d S . S U 671,248 102.200 , ^ 3 i S S S L 173,248 1 1 6 9 , 4 1 3 1 5 5 , 3 9 5 I 2 * 5 t o M z ± 16.240 . ... 6,646 65,000 320,894 77,089 54,120 4 . 5 7 0 S3 , 1 9 0 5.710 91,620 i i d > 22,018 8,055 70,000 53.100 58,4o6 69,556 ... 1,700 29,500 **6,280 312,320 15.289 g S L 75,991 16.545 77.480 m 9,906 576,67^ 183,960 103,060 h 2 9 7 , 0 3 1 46.480 88,900 11.141 75,759 8 . 6 1 0 73,980 1 2 , 7 6 4 61,216 5,195 250,551 J6U U Z L ^ ‘■ varsf.axriq 2,503 1,681 29,170 26.092 53, ^ 57,051 26,533 250,551 67,129 12U,237 4^-670 Total 101,700 16.328 85,372 7.510 68,500 124,880 2335,760 1^2JS_ ...3.69,J M 53,262 115,939 1 9 6 6 , 2 9 2 »« 258.770 17.800 » J Z * S § 2 _ . 15.462 13,102 548 1,943 145,828 27,094 104.175 18.092 A~937c ... « 11,581 2 ,672 2,273 19,500 21.146 34,360 4o.81Q 56,021 27,752 ^ 1 . 5 x 9 2 3 ... 2,055 68,396 42.084 5,584 16.242 77,862 .......... 35,462 1+9,170 29,260 77,862 35,462 722 34,740 O 1+5,620 Z S Z t S g 253,452 5,^59 §83,021 822.495 115.939 1707 1178,056 M E M O R A N D A FEDERAL RESERVENOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. Notes outstanding 107,556 F* R. notes held by banks 5.072, F.R.notes in actual circula' 102,484 569. 04g 58.044 511,004 137,555 12.614 125,241 153,173 8.081 145,092 77,^80 10.822 66,658 5 9 ,^ 6 1.956 57,490 250,551 67,129 20.045 230,506 2.911 64, 198 56,021 1.581 54,440 6.121 71,7Ul 115,939 1707,522 9.915 106,024 117.904 1569, 61s DISTRIBUTION OF BILLS, U.S.GOVERNMENT SHORT TERM SECURITIES AND WARRANTS iiY MATURITIES Within 15 days 16 to 30 days 31 to 60 days 773,785 125,590 183,4o4 7 5 ,% ^ ... 656 1 5 ,7 ^ 730 Bills discounted and bought U.S.Gov 11 .short-term securities Municipal warrants m I 32 6l to 90 days 120,4-98 1,190 ... Over 90 days 21,800 13,698 ... Total 1225,077 106,762 762 Released for publication Sunday morning May 1 2 , 1913 Not earlier STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CE’wTRAjj Jt?ibL>ilj.bLVi'jj JtIxj-OHjivVj.1i iii\w \jvjui1*it SELECTED CITIES AS AT CLOSE OF BUSINESS MAY 3 , I 9I 8 X-937d I . Data for all reporting banks in each district.________(In thousands of dollars.) Member banks Boston Hew York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total No. reporting banks 1+198 1+9 SO 66 35 96 32 32 70 40 1+7 686 U.S. bonds to secure circulation 14 ,621 50,809 12,975 42,907 21,978 13 , 51+5 19,642 17,392 5 , 71+7 ll+,012 17,312 35,299 266,239 Other U.S. bonds in cluding Liberty bonds 16,376 166,621+ 14,056 38,703 18,729 18,026 36,610 14,402 8,9x6 10,63 6 9,52f 15,473 3 69,078 U*S. certificates of in debtedness 44,868 1,011,64s 66,742 81,827 23,466 25,224 100,265 33,470 13,560 42,166 20,579 52,514 1 , 526,329 Total U.S. securities 75,865 1,229,081 93,773 163,437 64,173 56,795 156,517 70,264 33,223 6b,8l4 47 , 4.18 103,286 2,160,646 Loans secured by U-S* bonds, etc. 33,582 l4s,207 27,653 3 7 .S &7 12,273 6,516 23,240 8,377 2,627 3,252 3,895 4,44s 311,937 All other loans and in vestments 772,229 4 , 001,301 614,794 928,965 324,372 251,564 1 , 351,633 371,982 233,388 455,188 171,802 432,565 9 , 959,763 Reserve with F.R.bank 66,720 599,641 55,o4o 84,354 26,773 23 , 52s 145,081 35,526 19,502 44,054 16,782 45,515 1 , 162,521 • Cash in-vault 27,782 127,320 20,230 35.764 15,029 13,224 64,157 l 4 ,6 63 9,69‘i 17,034 31 0Q0 19,662 375,646 Net demand deposits 662,882 4,426,836 584,884 709,801 256,037 186.741 1 , 050,156 272,869 185,881 399,653 151,595 382,290 9 , 269,625 Time deposits 93,879 284,(90 15,490 228,335 43,337 ?4,253 36s,Sd9 75,659 45,350 56,799 24, 090102.205 1 , 419,056 Government deposits________ 43,342 342,067 43,372 56,690 1 0 .3 5 8 11,360 4?.,785 2 3.8^1 11,862 3 0 ,067 6.64? 3 .6 3 9 606.020 2 . Data for banks in each Central Reserve City, banks in all other Reserve cities and other reporting banks. New.York .Chicago.St.Louis Total Cen.Res.Cities Other Res.Cities .Country.Banks . Total M^y 3 Apr. 26 May 3 May 3l-fay 3 -Apr.26 May 3 --Apr.26 May 3--Apr . 26 May 3--April 26 No. reporting banks 66^ 66 40 l4 120 120 4l8 4l6 1 48 145 686 681 U,. S.- bonds to secure circ. 36,465 36,323 1,443 10,392 48,300 48,139 171,754 172,599 46,185 46,955 266,239 267,693 Other U.S. bonds in' ^ eluding Liberty bonds l4s,690 151,687 15,491 10,016 174,197 175,951 l6l,44l 154,977 32,440 31,262 36^,078 362,190 U.S.certificates of indebt.$88, 990 1,000,768 62,470 31,347 1,083,307 1,100,205 388,900 394,303 54,122 53,861 1 , 526,329 1,548,369 Total U.S. securities 1,174,145 1,188,778 79,4o4 52,255 1,305,804 1 , 324,295 722,095 721,879 132,747 132 , 07s 2,160,646 2 , 178,252 Loans secured by U-S. bonds, etc. 130,549 135,271 12,145 6,473 149,167 164,735 i4i,4os 131,966 21,362 * 19,651 311,937 *316,352 All other loans and investments 3 , 671,101 3, 671,200 815,348 263,694 4,750,143 4,746,306 4 , 439,562 4417,271 770 , 058 743,944 9 , 959,763 9 , 907,521 Reserve with F. R. bank 571,677 604,353 101,588 27,334 700,599 729,535 411,295 401,516 50,627 49,776 1 , 162,521 1,180,827 Cash in vault 114,908 118,130 38.911 7,592 l 6 l ,4 n 163,849 178,157 173,002 36,078 32,483 3 7 5,646 369,334 Net demand deposits4,121,824 4 , 045,438 717,366 193,920 5,033,610 4,913,737 3 , 605,620 3604,681 630,395 591,671 9 , 269,625 9 ,n o !o 8 9 Time deposits 243,395 277,779 133,372 55,466 432,233 469,342 808,523 791,535 178,300 161,023 1 , 419,056 1 , 421,900 Government deposits 326,006 392,820 32,115 19,904 373,025 446,837 202,493 *200,687 25,502 *21,828 606,020 * 669,352 J * Amended figures. Released for publication Sunday morning May 19, 1918 . N0t earlier. X-9 U9 STATEMENT FOR THE PRESS. fey IS; 191S Liquidation on a large scale of discounted bills and U.S.Certificates of Indebtedness following the consumation of the ^hird Liberty Loan, accompanied by considerable net withdrawals of Government and member bank deposits, is indicated by the Federal Reserve Board's weekly statement issued as at close of business on May 1 7 , 191 S. RESERVES: Total gold reserves show a gain of 11.3 millions. Substantial gains in gold reserves are reported by the Boston, Cleveland, Chicago and St.Louis banks, largely the result of shifting of credits in the Cold Settlement Fund in connection with Liberty Loan operations. A decrease of about 2J millions in the gold reserves of the New York bank is accompanied by a change from an adverse balance of 62,5 millions in account with other F .R . banks, shown the week before, to a favorable balance of O.U million, while a decrease of 2 k. 3 millions in gold reserves reported by the Kansas City bank is accompanied by an increase of 17*7 millions in discounts on hand and a decrease of J.g millions in net deposits. INVESTMENTS: A decrease of 96.8 mr'.llior.s is indicated in the total holdings of discounted bills, the Boston, Hew York and St,Louis banks reporting substantial liquidation of this class of paper during th3 week. Of the total discounts.on hand— 526.2 millions as against 6l2.3 the week before, are secured by Liberty bonds and U.S.Cefctificates of Indebtedness. Acceptances on hand decreased 6.2 nillions, all the Southern and Western banks* except San Francisco, reporting smaller figures than the week before. The decrease of 33*7 millions shown for U.S. Government short-term securities is due to net liquidation of a corresponding amount of U.S.Certificates of Indebtedness, But little change is shown in other classes of investments. Total earning; assets show a decrease of 136 .I millions foi* the week! CAPITAL: Payment for Federal Reserve Bank stock by newly admitted members largely accounts for an aggregate increase of $ 197,000 in paid-in capital, all the banks except those at Boston and St.Louis reporting increases in capital ac count. S1 P0 SITS: Net withdrawals of 89.8 millions of Government deposits and of £>7 millions of members* reserve deposits for the week are shown, all the banks except Kansas City reporting scalier bank deposits than the week before. FEpERAL RESERVE NOTES: Net issues for the week of Federal Reserve notes amounted to 2.7 millions. F.R. notes in actual circulation are given as 1569«4 millions and for the first time since «January 2P, show a slight decline as com pared with the total of the week before, '•‘•’he ratio of total cash reserves to aggregate net deposits and F.R. note liabilities shows an increase from 60.3 to 63 .I per cent. CONDITION OF MEMBER BANKS M Y 10, 191S Some indication of the cnaracter anoL volume of investment and 1 oan operations of 693 Member banks in about 100 leading cities in connection with the consumation of the hird Liberty Loan is afforded by the weekly statement showing condition of these banks as at close of business 011 May 1 0 . Total United States Securities on hand show a net decrease for the week of almost 50 millions, an increase of 309 millions in the aggregate holdings of U. S. bonds, other than circulation bonds* being more than offset by net liqui dation of^3 6lilmil1ions of Certificates of Indebtedness. Loans supported by U.S. war securities show a rise for the week of lyi.S millions, while other loans and investments increased by IO 5 .5 millions. F or the 120 banks in the three central reserve cities corresponding changes involve a decrease of U7 .U millions in total U. S. securities, an increase of 172,2 millions in U. S. bonds other than circulation bonds, and a decrease of 219*6 millions in Certificates. Loans supported by Government war securities reported by these 120 banks show an in crease of 119 millions and other loans and investments - an increase of 35 .8 millions. Aggregate loans and investments of reporting banks show an increase of 227.5 millions, of which 107*3 Millions represents the increase at the Central '•eserve city banks. Oi the total investments the share of Governnient securities X -2- X-9U9 and loans supported by such securities is 20.5 per cent as against 20 per cent the week before. Aggregate reserves of reporting banks show a gain of 60.6 millions and cash in vault a gain of 3>8 millions. For the banks in the central reserve cities corresponding gains of 49*5 and. 3 millions a re . shown. Net demand de posits declined over 33*+ millions and tine deposits 2C.S millions, while Government deposits show a gain of 221 millions, largely with banks outside the three Central Reserve cities. The latter report decreases of 202.4 millions in net demand deposits and of 12 millions in time deposits, as against a gain of 52*5 millions in Government deposits. Owing to the gain in investments and the simultaneous decrease in de posits the ratio of investments to total deposits of all reporting banks went up from 110.1 to 113.4 per cent. For the Central Reserve city banks this ratio shows an even larger increase^ from 106.2 to 111.1 per cent. The ratio of combined cash and resSrve/xffiSM^I shows a gain from 13.6 to lU .4 per cent, and for the central reserve city banks from l4.S to 16.1 per cent. Excess reserves of all reporting banks increased, by over 100 millions to l 6l .5 millions. For the Central Reserve city banks excess reserves stood at 109*5 millions, or 7b,2 millions in excess of the total shown the week before. Released for publication Sunday morning ife-y 19, 1913. Not earlier STATEMENT OP COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL EESERVE BANKS AT CLOSE OF BUSINESS MAY 17, R E S O U R C E S May 1 7 , 1918 May 10, 1918 Gold, coin and. certificates in vault 480.580.000 *+79,529,000 Gold, settlement fund, F.R.Board 437.444.000 418.337.000 Gold with foreign agencies 52.500.000 52.500.000 Total gold held by banks 970.524.000 950.366.000 Gold with Federal Reserve Agents 885. 027.000 915,536,000 Gold redemption fund 27.5^4.000 -g£L5Qg»Q0Q Total gold reserve 1,883,135,000 1.894.404.000 Legal tender notes, silver, etc. 5ftr30ft.OOP Total reserves 1 ,9 ^ 7 5 0 0 ,0 0 0 1 . 952. 712.000 Bills discounted for members and F.R.Banks 939.041.000 842,265,000 Bills bought in open market 286.016.000 279. ft,36.OOP Total bills on hand 1 . 225. 077.000 1 . 122. 151.000 U.S.Government long-term securities 4o,ii6,ooo 41.041.000 U.S.Government short-term securities 106, 762,000 73 . 043.000 All other earning assets ____ 1 . S4U.000 1.492.000 Total earning assets 1.373.799.000 1 . 237. 727.000 Due from other F.R. banks, net (a) 6,494,000 (a) 1,882,000 Uncollected items 462.220.000 •S8U.~sqi.ooo Total deductions from gross deposits U55,726,000 382, 509,000 5$ Redemption fund against F.R. bank notes 4o4,ooo 530,000 All other resources 66.000 77,000 TOTAL RESOURCES 3 , 772 , 495,000 3,573,555,000 L I A B I L I T I E S Capital paid-in 75 , 11 s ,000 75,315,000 Surplus 1 , 134,000 1 , 134,000 Government deposits 138 . 529.000 48,753,000 Due to members - Reserve account 1 , 548, 137,000 1,461,138,000 Collection items 309.773.000 282,475,000 Other deposits including foreign Govt, credits 11 0 . 611.000 3,1u, 596..SQQ Total gross deposits 2 . 107 . 050.000 1 . 906. 962.000 F. R. notes in actual circulation 1 . 569. 618.000 1 . 569. 445.000 F.R. bank notes in circulation - net liability 7 , 878,000 7 , 878,000 All other liabilities ___ 11,697.000 12.821.000 TOTAL LIABILITIES 3.772.495.000 3.573.555.000 Ratio of gold reserves to net deposit and F.R. note liabilities combined Ratio of total reserves to net deposit and F.R. note liabilities combined (a) Met amount due to other F.R.Banks x - 1918 May lg, 1917 350,269,000 187,969,000 538. 238.000 443. 311.000 --2.J & -QQQ 989. 303.000 27 .UU2.000 1 , 016, 745,000 4 4 . 8 4 6 . 0 0 0 100. 177.000 145. 023.000 36 . 386.000 78.004.000 14.784.000 27U . 197,000 3 . 057.000 192/830.000 195, 887,000 400,000 5.816.000 1 , 493, 065,000 56, 868,000 102. 666.000 748.499.000 136 . 750.000 987. 915.000 446. 501.000 1.781.000 1 , 493, 065,000 61, 2# 58. % 79’ 9$ 63 . 1# 60. 3 $ 82,1$ 9119 a Keieasea for publication Sunday morning May 19, 1913 Not earlier VJEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL BESERVE BANKS AT CLOSE OF BUSINESS MAY 1 7 , 1918 u n thousaiids of dollars .J Total Boston New York GPhila. Clevel. Richm. Atlanta Chicago.St. Louis Minn. Kans.Cy. Dallas San Fran, R E S O U R C E S 479,529 5,205 31,613 55* 6,336 6,615 28,878 2,212 10,738 5,276 348,267 9,190 24,645 15,888 418,337 7,397 60,985 18,710 10,068 g01f0l6 3 2,421 18,572 21,371 39,336 60,844 52,729 52,.500 2.625 1.818 2.888 2.100 1.817 1.575 7.150 2.100 1.675 18.112 1.675 4,725 950,366 69,936 405,715 65,594 90,214 26,883 18,258 116,244 36,733 3 1 ,*10 2*, 550 14,440 50,389 63,213 247,839 82,796 98,204 31,096 37,3*5 1 * 8,713 42,003 3*, 80* 36,979 19,193 73,351 915,536 l6__..... 2S*5Q£ 1.902 1.722 1.986 2.000 12.500 ..._.7ZZ_ 1.260 1.000 816 1.648 855 1894,404 62,306 68,116 34,893 123,756 80,458 666,054 58,834 151,390 189,254 57,251 266,9*3 135 , 1*9 2.850 l6l_ . 58,308 294 1,692 _ 4.520 67. 426 2.561 717 1.124 629 42.865 62,600 37,743 124,119 1952,712 68,183 82,150 57,968 59,260 152,714 189,883 271,463 137,710 708,919 842,265 & 83,389 29,150 22,024 69,067 27,133 38,123 36,049 368,714 36,276 64,io4 *6,333 21,303 845 20.188 279,286 2.04l 42,627 _ 7,116 26.956 11.480 1.891 5.567 7,697__ 21.017 110.419 1122,151 2 9 , i 4 o 71,108 36,847 27,978 26,870 126,616 58,311 63,232 77,584 48,226 57,086 499,153 4i,o4l 3, *61 1,234 7,800 726 2,233 1,869 8,864 3,981 616 7,335 1,575 1,3*7 2,227 73,043 511 1,430 1,936 1,205 *,*33 1,421 3,165 2,330 1,523 9,387 *3, *75 21 124 122 *« 1 3 _ ... _..1_J±92 51 1,1.11. 84,428 64,038 35,026 32,561 28,854 1237,727 137,116 39,715 59,123 544,203 66,909 9*,771 50,983 283 * 1,882 6,420 ♦ • • 4,032 7,870 % m * 427 1,856 10,159 __384xI91 16 . 72 s 15.915 I9.,.96l_ 45,854 21.201 27.884 40.818 17.171 71.208 . * l J s i _ ..8i_423_ . S4l 53,724 *3,383 12,455 2 3 , i 4s 15.915 20,246 382,509 42,67* 37,171 27,884 31,360 33,843 73,635 510 117 JL93. «* « • ♦• # \ C o l d c o i n r t i f i c a t e s G o l d s e t t l e m a n d e n t f u n d , . B G e l d w r e i g n i t h T o t a l f o g o G o l d w i t h G o l d r e d e m T o t a l L e g a l l d h g o l d i l l s d i l l s b o u g h t U . S i s . . G o v ' t U . S . G o v ’ A n T o t a l i n o v a u l t a r d b y b a n k s R e s e r v e A g e n t s f u n d r e s e r v e s n b f o o T o t a l r t e s , m i n i l l s , s i l v t , o n e r , e t c . p t i o n . R . b a n k s s e c u r i t i e s a s s e t s a s s e t s F .R . b ^ - r i k s , i t e m d e d u c t , R e d e m F a r k e t s e c ^ f c i t i e s t e r m e a r n i n g o t h e r m h a n d s h o r t - n c o l l e c t e d b e r s t e r m e a r n i n g f r o m e m o p e n l o n g - o t h e r 5 $ . R r e s e r v e s B T o t a l F a g e n c i e s e l d p t i o n B U e F e d e r a l t e n d e r T o t a l D u g c n e t s f r o m g r o s s f u n d a g a i n s t d e p o s i t s F . R . B k •> * * . n o t e s A l l o t h e r r e s o u r c e s TOTAL RESOURCES L I A B I L I T I E S Capital paid in Surplus G o v e r n m e n t D u e m C o t o e m l l e c t i o D u e t o n i t e m o t h e r F» r e s e r v e a c c o u n t s R . b a n k s , 1326,757 6,46o 75 19,75* 6*9 2,230 2, 07* 92,892 625,718 22,434 59,039 d e p o s i t s b e r s , 230,676 3,278 n e t 9 O t h e r d e p o s i t s g o v e r n m T o t a l e n t i n c l u d i n g f o c r e d i t s g r o s s d e p o A l l . B a n k o t h e r n o t e s l i a b i n i l i t c i e i r c s TOTAL LIABILITIES 120,834 102,818 s i t s F. Rj stetae in actual clrc.tfl&.tion F. R u l . • • r e i g n n e t • . 77 262,37* • * » 118,182 2,536 * 1,428 9,581 95,986 113,581 31,332 31,003 6 , 9 3 3 ♦ • 15,260 . 10*, 137 244 790,968 507,826 169,669 126,690 142,917 128,746 • m • l i a b . . . . * % * 3,811 116 224 43,323 20,715 3,016 4o *,519 38,428 14,211 1,657 65,919 67,981 16 57,17* 57,952 d u e f r o m • • . ♦ .• * m • * 9,730 216 3,523 0 * m 4,46o 184,337 *,369 * 9,339 26,265 33,977 8,625 5,336 *69 220,398 230,818 96,779 64,446 2,777 38 8,886 39,503 7 ,* 1 * • • « a n d n e t a m o u n t s • * * 500 462,303 165,248 1 . 1 d u e 4 l t o o t h e r 3, *9? 3 ,6 7 * 67,676 i*,59 3 5*,213 J L 5 L 85, 9*3 72,112 7,878 *,330 # • » • • * 2,294 38,657 6,373 • * * • % * *,377 51, *33 3 *,131 1.146 R e s e r v e 5,01* 71,698 15,119 4,109 J0Z_ 113,199 170,569 88,821 F e d e r a l » • 2,950 17 55,820 • 88,821 208, *403 % * * •• * m * • • « 100 7.Q3., 7.560 230, 6761326,757 262, 37 * 321,825 138,127 118,182 s ____ * # ♦ 489 Diff erence between net amount o-.her Federal Reserve aanks. ...... ..... 462,303 165, 24s 113,199 170,569 B a n k s * ________IX 3573 , 555 75,315 1 ,1 3 * *8,753 1 * 61,138 282,475 , . , 1 1 4 , 596 96,208 1906, 962107 , 5*1 1569,445 124 208,1403 a m o u n t 7,878 12.821 3573,555 d u e . t o Released, for publication Sunday morning May 19, 1912 Not earlier STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MAY 1 7 , 191S. (in thousands of dollars.) FEDERAL RESERVE NOTES Received from Comptroller Returned to Charger/ble In hands Issued amount Richm, Atlanta Chicago St.Louis 680,612 160,456 13,920 115,400 23,540 171,244 18,440 84,874 565,212 Comptroller 121,783 to F . R . A g e n t F«R.Banks returned HELD AS Minn. Dallas San Fran. K a n s .C y , Total ■ LJ-jJ-l J. . VJ ...... 6,290 61,145 4,995 85,231 7,310 53,175 18,500 117,695 1 , 925,439 — 275,199 252,888 69, *+35 56,150 77,921 3^,675 117,695 319 148,394 1,909 6,200 76,132 16,125 297,367 44,479 75,725 152,804 7.2,674 60,007 16,000 173,247 20,51? 7,062 9,592 7,687 5,713 •-41,500 65,000 75=734 70,000 54,120 54,600 44 ,650 317,373 107,, 863 565,212 136,916 152. so4 1,596 29,500 *+7,572 72,674 2,503 2,422 32,420 less to F.R. A Agent for redemption COLLATERAL Cievel. 149,560 866,280 190,200 186,160 105,060 92,020 313,320 88,900 73,980 101,700 68,500 127,l 40 2 ,36*2,820 of F . R . A g e n t to Boston New York Phila. X-9U9C 107,863 136,916 1,?10,240 SECURITY FOR OUTSTANDING NOT E S : i Gold redemption- f u n d Gold settlement Eligible f \ m d F.R.Bd. paper,minimum reqd. Total 13,102 40,094 2,202 19,500 2,619 11,521 2,028 5,524 15,482 60,435 21,346 56,150 3^360 4o ,942 77,921 3^,675 30,827 27,992 66,263 27,972 77,921 34,675 544 22,662 104,175 60,007 252^888 27,432 121,289 6,255 66,496 44,344 117,695 236,950 50,004 628,582 79*+, 704 1,710,240 AMOUNT OF ELIGIBLE PAPER DE LIVERED T O F. R. AGENT 57»OS6 56,4ll 499,153 45,479 77,524 22,746 M E M O FEDERAL F.R.Notes outstanding 107,863 F.R.Notes held by banks 5,045 F.R.Notes in actual circula tion 102,818 RESERVE NOTES IN A C T U A L CIRCULATION. 152,804 9,887 72,674 10,693 60,007 2,055 252, 8S8 22,070 69,^35 4,989 56,150 507,826 126,690 142,917 67,981 57,952 230, 81s 64,446 54,213 .136,916 57,386 Within N D A 10,226 565,212 DISTRIBUTION OF Bills disco-unted and bo-ught U .S .G o v 't .• short-term securities Municipal warrants OUTSTANDING AND R A 15 days 641,734 41,976 BILLS, U.S.GOVERNMENT SHORT 16 to 30 days 119 . 7 SS 1 31 31 to 48,287 1,081,095 60 days 195,292 16,527 455 1,937 5,209 72,112 34,131 TERM SECURITIES AND WARRANTS 6l to 90 days 131,132 3 ,3 H 45 Over 117,695 10,154 107,541 1 , 569,^5 BY MATURITIES 90 days 1,710,240 140,795 Total 34,194 1,122,151 11,228 73,043 531 I <*-■ Released for publication Sunday morning May 19, 1918 Not earlier. STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER X-.9l4.9d SELECTED CITIES AS AT CLOSE OF BUSINESS MAY 10,. 1913.’ / 1 . Data for all reporting banks in each district (In thousands of dollars«). Total San Fran. Phila. Minn. Kans.Cy. Dallas Clevel. Richm. Atlanta Chicago St.Louis Boston New York Msinber banks 49 80 h o 40 48 98 Ho. 1 eporting banks ’ 36 73 32 31 71 95 693 U*S. bonds to secure circulation 19,642 5,744 14,012 268,482 42,887 23,818 14,121 16,979 50,817 12,975 17,393 14,695 35,399 Other U.S.bonds in cluding Liberty bonds I S ,939 22,880 677,090 317,294 31,475 79,050 25.173 . 25,622 16,591 24,833 10,280 20,980 S3,973 U.S.cert.ificates of indebtedness 32,685 12,853 30,159 24,859 822,386 46,530 41,170 1,165,267 22,218 56,721 17,589 39,146' IS, 971 l'otal U. S. securities 74,911 28,857 65,151 57,919 1 ,1 9 0 ^ 9 7 90. 9S0 161,083 67,962 62,535 160,336 51,159 99,**9 2 , 110,839 Loans secured by U.S. bonds, etc. 56,492 264,809 36,376 42,697 15.S24 6,4i6 27,771 12,558 3,179 3,997 5,226 8,391 483,736 All other loans and - investments 775,529 4,051,094 622,068 928,100 349,106 267, 0041 ,357,373 370,135 233,928 454,161 169,243 487,43410,065,235 Reserve with F.R,bank 65,64-3 650,252 68,131 81,129 27,214 27,545 143,464 33,349 20,242 44,460 17,705 43,993 1 , 223,127 Cash in vau] t 28^446 130,375 20,319 31,457 15 , 56s 14,83.2 64,121 14,754 9,488 17,031 u ,7 7 4 21, 26s 379,413 Net derrand deposits 629,429 4 , 245,365 592,722 673,313 267,650 192,606 1 ,02.4, 429. 252,270 171,088 375,147 140,773 370,780 8,935,572 /b Tir,ie deposits 95,600 27 f , 896 14,426 227,748 44,669 81,868 347.103 23,175 103,499 1,398,264 I^ >^Ll v-V'r 4 ^ ,G40 Oc: 6C'6 Government deposits 113,562 379,927 7,917 12,520 826,989 37,729 68,531 24,092 32,425 47,474 52,53S 20,37S 29,896 2 . Data for banks in each Central Reserve City, banks in all other reserve cities and other reporting banks. Total Country Banks Reserve Cities Chicago St.Louis Total Cen.Res.Cities New York May 10 Iv ia y 10 May 10 — «ky 3 “‘ l ay 10 -4ay 3 May 10 -May 3 May 10 --f'fe ty 3 May 10 — -i4ay 3" : No. reporting banks 66 66 154 . i4s 14 419 4lS 120 120 40 686 693 U.S.bonds to secure circulation 36,473 36,465 172,054 171,754 48,119 46,185 268,482 48,300 266,239 1.443 48,309 10,393 Other U.S. bonds in cluding Liberty bonds 275, 527 148,690 52,371. 18,450 279,211 161, 44i 51.531 32,440 677,090 346,348 368,078 174,197 U.S.certificates of 262,235 388,900 39,323 54,122 1 , 165,267 1 , 526,329 indebtedness 805,879 988,990 28,153 863,709 1,083,307 29,707 Total U.S.securities 1,117,879 1,174,145 56,966 1 , 258,366 1 , 305,804 713,500 83,521 722,095 13S,973 132,747 2 , 11©,839 2 , 160,646 Loans secured by U.S. bonds, etc. 242,321 130,549 15,713 10,097 268,131 149,167 187,031 l4i,4os 28,574 21,362 483,736 311,937 All other loans and in vestments ---3 ,7 0 0 ,4 l6 3 , 671,101 820.741 264,760 4,785,917 4,750,143 4,46s,l46 4,439,562 811,172 770 , 05810 ,065,235 9,959,763 Reserve with F.R.bank 623,574 571,677 101.742 24,820 750,136 700,599 420,396 411,295 52,595 5.0,627 lv*223,127 1 , 162,521 Cash in vault 116,927 ll4,§08 8,288 164,399 161, 4il 178,017 178,157 '36,997 36 , 07s 379,413 39,184 375,646 Net demand deposits 3,9 60 ,88 8 4,121,824 689,451 180,871 4 , 831,210 5, 033,610 3 , 478,427 3 , 605,620 625, 935. 630,395 8,935,572 9 , 269,625 Time deposits 234,825 243,395 130,630 54,724 1 , 419,056 420,179 432,233 796,819 SOS,523 181,266 178,300 1,3 98 ,264 36,082 Government deposits 352,707 326,006 41,691 606,020 430,430 378,025 342, 627. 202,493 53,882 25,502 826,989 r
@FedFRASER