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R'lljasjd for publication Sunday corning, January 20, 1918.

X659,
Not earlior,

STATEMENT FOR THE PRESS.
January 19, 191G,
Largo increases in Gov emu. nt deposits, following the pay­
ment of the last installment oi thv 8-;cond Liberty Loan together
with a substantial gain in rea:rvos are th-. outstanding foaturo of
the. Federal Ros:rve Board's bank statement showing condition of tho
Reserve banks as at clos. of business on January 18, 1918.
Now York reports a gain of about 34 n.illions in reserve,
together with not liquidation of over 15 millions in certificates
of indebtedness and an incroa3o of about 18.2 millions in its bal­
ance duo to othor Federal Rosorvo banks. Richmond’ s loss of 7,9
rJLllions in roaorvo is duo prii-arily to heavy discounts, also to
a decroaoo of 4,1 millions in mombs r bank deposits and a net incroaso of 6,3 millions An its balance due iron, other Federal Ro­
sorvo banks, off sot to s on.o oxtont by tho gain of about 15 millions
in Govornr.ont deposits. Chicago reports a loss of 12.1 millions
rosorvo, its gain of 41,8 trillions in Government deposits bei4g more than offset by heavy discounts of paper, chiefly collat­
eral notes secured by Government obligations, and the purchase in
large volume of transfer drafts for the accommodation of its mem­
bers. Changes in reserves shown for the other banks are due to
increasetsin Government deposits or, where decreases occur,
mainly to changes in the balances in account with other Reserve
banks.
Discounted paper on hand shows an increase for the week
of about 32.8 millions, Chicago, and Richmond reporting the greateatgains under this head. Of the total, over 300 millions, or al­
most one-half is represented by paper protected by Government se­
curities, the New York, Boston and Chicago banks reporting together
over 75 per cent of this class of paper, A decrease of about 18.5
millions is shown in the holdings of Government securities, the
New York and Cleveland banks reporting considerable sales of Gov­
ernment securities held as temporary investments. No substantial
changes are shown in the holdings of acceptances or other earning
assets. Total earning assets increased about 12.6 millions and
constitute 69,1 per ijc-nt of the banks1 net deposits, as against
70,7 per cent the week before. ,,0f the total, discounts consti­
tute 58,4 per cent; acceptances ij4.9 per cent; U. S. securities,
16,3 per cent and other earning assets, 0,4 per cent,
Payment by newly admitted members for Federal Reserve
Bank stock accounts for a total increase of $335,000 in capital
account, the New York Bank alone reporting an increase of $260,000
under this head. All the banks report substantial increases in
Government deposits, Chicago, Cleveland and Boston showing the
largest gains. Members* reserve deposits fell off at all the banks,
declines being largest at the four Eastern banks. An increase of
about 10.5 millions in other deposits is due chiefly to the open­
ing of an exchange account by the Argentine Government with the
New York Federal Reserve Bank.
Federal Reserve Agents report an addition for the week
of $4,957,000 to the net amount of notes issued. Against the total
of $1,373,105,000 of notes outstanding they hold at present
$796,727,000 of gold and $609,056,000/piper. The actual note cir­
culation shown by tfie banks totals $1,^38,797,000, marking a fur­
ther decrease for the week of $3,402,000.




Released fo1" pv.b?.iceti on Sv lay moraing, January 20- 1S13.

.

STATEMENT OF COMBI NED RESOURCED AND LIABI LITIES CF THE TWELVE FEDERAL RESERVE

R E S O U R C E S
i - ,.■
w.-'.xa cuj.r, and cortific^tdc in v^ult.................. .
$477,30l,Cu0 *
'
Grotd Settlement Fund - F„ R„ Board. . . . . . . . ...................
363,232,000
Gold A'.'.th i vi’sign agencies.,........... . ............ ...................
' 5 <T. 500*000
Vocal gold hsld by banks.............. .........................
913 , 033,000
field with Federal Reserve A g e n t s . , . . . . , ....... . .. .......
796,727 000
Gold rcderv.piion :uad....... ..................... ...................... l!i
1 9 /a o 'o o o
Total gold reserves.,............................................... ................ $,
47n nnn
J'»e^l tender notes, silver, etc....................................................... '*54*837*000
io
«6 sci'v 63 ♦««* «
^ 784 307 000
603 488 000
*
’
’
Bills discounted for Members and F, R, Banks........... ,.
Bills bo-.;?h.t }v open market*................ ............... .......
257^804*000
Tvtal 3-ws on hand.................................................
861 , 292,000
u„ c, Uoverarnenx long-term securities...........................
4 <s qn nnn
IT. P., Go-'smnent short-term securities.........................
X~£>Ci dX UvU
liij. <-vi.6 \ sr..,iiflg a s s e t s ...............................................
4 224 000
'loiaj. earning assets.................................................
j~ 033 737 000
J>„.
oth,r F. R. Banks - n e t . . . . . .................... . ... .
35,818,000
1 ' 033' 737' 000
M-c.0Ojfcltcu&d j.utniis. . . . . . . . .
381 708 000
xotaX deduction from gross deposits..................
"
‘
417 c0A
5$ Pe^nijt-’.on fund against F. R. Bark notes......... .
537 000
A H other resources....................................................... .
^vq'nnr
X'O'MC, RESOURCES
T ~ 't,
!. ! 1 B I L r f l E S
3,236,486,000
Japxva... paia-in.......... , ......................................................
'
fcSnrn.l.ue_______ _____ . . . ......................................................
i
n
!>C7 er:at.3rt dsposits...................................„.......................
239,829,000 «/
Du© *,0 members - reserve account.................................... .. 42i 563"-tf00~
Collection items........................................................ ]!!.’ .* *221,'728,*COO
Other deposits, including foreign Gov’ t credits.........
30.779 000
„ ./>
Total gross deposits.............................................
1 '
n qio l z n^ 1*238*797*000
F. R. Notes in actual circulation........................... .
F. R. Bank notes in circulation, net liability..
' q '-w / ' v^
_

,

All other liabilities............... ! .................
total l ia b il it ie s

.

7

.....

...............

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 com bined.................... . . .. . . . . . . . . .
J
Digitized for'FRASER


va / Amended statement.

v

x'iOv Q a F i i .
banks

at

close

$1,696,830,000
*;■
» opt non
JO
1,748,0317000
V^JL. ,

0 .,, r

~ 236 486"5aa
'

63 2tf
* ^
. „ p65,2

X65-fe

.^M u a r i .58, 1918.

January 11, 1918 (d)
$^7 8 ,8 3 9 ,0 0 0
2 6 1 .5 2 2 .0 0 0
5 2 .5 0 0 .000
692,861,000’
7 8 4 .32 6 .0 0 0
1 9 .6 4 3 .0 0 0
, W

.570,665,000
258.710.000
829.375.000
49,506,000'
137.227.000
5.063.000
1,021,171,000

.

8, 00^

of b u s in e s s

28,229,000
306.593.000
334,822,000
537.000
519.000
3,105,080,000
71,603,000
1,134,000
5 7 .8 5 6 .0 0 0
1 ,4 9 8 ,4 8 2 ,0 0 0
2 0 3 ,0 7 3 ,0 0 0
2 0 .3 1 5 .0 0 0

Jc’-nutii y i.8—19, 1917
$286,509,000
212,051,000
498, 560.000

273, 141.000
_ J L 783.000
773. 484.000
10* 338.000
783, 822,000
17, 219.000
108, 447.000
125, 666,000
37, 899.000
18, 314.000
,_10x 596.000
..1 9 2 , 475.000
5, 354.000
13iL 116.000
137, 470.000
400.000
,729.000
1,126,896,000
5 5 .6 4 2 .0 0 0
2 8 .4 1 0 .0 0 0
6 6 9 .87 4 .0 0 0
109.7 34 .000
——

1.779.726.000
1.242.199.000
8,000,000
. 2,418.000
3.105.080.000

-» « ».

808.018.000
262,967,-000
* +A
______ 269.000
1,126,896,000

63.1$

82.9$

65,1$

8 4 .0 $

r

' T
keleaaed ior publication.Sunday n.omiKg, January 20, 1S13.
,)j( t fcd,_x;.ci,
WEEKLY B'-CA.T'EM^N-r OF .RESOURCES AMD LIABILITIES OF EACH OF THE FEDERAL RESKR'te ;<ANkS AC CLoJE OF BJSINE3S JAJSAT.
(In 'tbOi.'.sai?dr of c’oli'irs. /
RESOURCES
3C&?0*
N_ Y.
PHILA, CLEVEL. RICHM. ATLANTA CHICAGO 3T.LCUIS MINN. KANS.OY.
Oo'Id coin en* certificates in vault 14,77?. 318,465 18,759 2j,,146
6,260
br462
31,279
5,021
14,917
l.pOO
Gold st-ttleiueut iuiid F, R, Board
37s425
60,639 30,827 45,512 14,390
16,434
77,323 24,076
9,512 2^,335
O d d with toreagn agencies
‘Total grlc* held by hanks
Gold with Federal Reserve Agents
0-old redemption fund
Total geld reserves
Legal xeridei laotes, silver, etc.

3 , 67 3___ 1; .112

3 ,6 75

4 ,7 2 5

1,337

55*872 397,266 53,261 73,383 22,937
43,407 235,700 66,376 61,350 26,360
1,9
8? ' 10,107
1,500_______
___
. .....
.
.
_____________43
__________293
^
101,266 644,073 121,137 135,281 49 , 6^5
___I s . J m _ 2,611
1 ,1 6 2 ____ 198
Tot ?1 reserves
106,414 631, 512 T 23 ,743 136,443 49,343
Ei,’ l 3 disc.for fcnibsrs & F„R,Banks 50,623 227,314 31,163 37,573 33,06l

1 ,5 7 5

7,550____ 2 ,I 0 0 _ _____2 , ICQ

24,471
49,226

115,958

3 1 ,"19V
35,303
1,251_______^ 742___
901
74,92 8 234,333 67 ,~4o6
779
3,594
1,707

75,707
12,695

233,427
106,170

118,133

69,113

28,336
6,241
34,627

Bills bougnt j.rt open narket
6,350
155,570
14,269 13,397
12,536
_____
__________
___________________
___________________6,750
9,002
Totf?l hill "3 or. hand
- 56,973 382,884 45,432 50,970 45,647
19,445 115,172
U.S.Gov*t_. long-tera securities fl3 o
610
5,541
3,26
1,231
7,007
1,646
2,233
0*S»(jOv . short-term securities
1,491
5,873
1,444
1,969
3,025 39,771
41.1 othe~ o?r^.;ng assets
142
663
_4
606
Total earning, assets
61,932 437 , 696 ' 53,998 99,007 43,939
23 ,250 123,663 3 8, 771
Due from other F, R. Banks - Net
1,399
7,199 20,933
5,596
...
5,274 -4,761
Urco’*1c.c+ed i*6is
23 , 570
33,395 ^6,772 23,089
19,313
22,305
61,375 13,436
2 -rial dtduc ;' 3 . from gros* dep1t s 311^69" S3-395 53,971 44,027 24,909
22,305
66,649 23,197
6/S> Redemption tunA against F.R.Bk.notes ..
A H ether resources
239
95 _____ '33
!!!
10IAL RESOURCES
193,315 1203,103 231,717 279,477 123,980 121,857 433,777 131,031
L \ a B J f, 1 •£ I E S
5,906
18,973 6,775
8 , 06s 3,697
2,356
9,142
3:4 75
Cr.jl.t3C paid-'.n
SUi'p.LUS
75 649
.......................
116
40
216
Governrr.ent deposits
25,374
21,-33 19,361 45,094 14,038
5,222
45,446
8,874
Dv-e to ir.sn.ber 3-re serve account
70,356 645,384 30,622 104,685 40,803
33,671
175,295 49,954
Collection ii;enjs
16,244
66,244 32,990 16,175 14,073
13,336
20,534 11,114
Due to other F.R. Banks - Net
*^
, 2o9* * *
-* « -«
254
...
...
Other deposits incl.for.Gov.credits . . .
24,809 ....
70
...
3
2,813
299
Total gross deposits
112*474- 783'209 132,973 166,024 63,919
57,936 244,143 70,241
F. R. Notes in actual circulation 74,632 398 6l0 91,523 105,282 51,245
60,975 130,276 57,142
F.R.Bk.notes in circula. net liab. . . .
„ „,
...
All other liabilities
17 S
■
> £57
146
-101
m .
TOTAL LIABILITIES
193,315 1203.103 231,717 279,^77 123,930 121,357 433,777 131,051
% Difference between net amounts due from and net amounts due to oth^r Federal Reserve Banks.
Digitized forIFRASER


2,625

26,525 . 27.460
37,621 43,422
.1 , 1 2 2
473
' 65,272 76T 350
532
54
65,854 76,414
12,505 29-513
2,687
35

*559:
13, IlSx S.
DALLAS SAN FRAN.
10,105
26,617

16,310
26,S93
38 3,23 2
1, o3o_____ 2 ^ 3 3 _____ 52 , 500

28,251
23,392
1,25c
53,401
1,203

54,604
8,649

15,192

29,553

15,531
2 2 ,ioU

2,214

3,862
5,7 84

2 ,4 5 0

1,673
1,001

77 j

20,035
5,331

^ 4,199

14,212
20,043

32,043
40,193
400

21,162

105,932 l 6 l ,2 l f

105,327

3,396

2,799

3,155

2,643
33
11,814

...
13,189

33,212
4,075

10,409

iL

54,114
49,172
-•15

.105,932

70,019
21
93 , 63s

55,352
3,000
325

161,211

TOTAL
477,301

29,924
2,417
18,745
137

56, 39 s 913,033
49,if32
796 , 7 2 7 ____ 38
19,710
105,863 1,729,470
360
54,837>
106 , 22s 1 , 734 , 3 0 7 >
25,826
603 , 455 * ;
17,336
257,804J
14_£,.212
361,292 ,
4^13/
' 2,455
iggTg 1-&
1,500
4,224 V
_____ 56,
47,223 1,033,737 £
...
@3 5 , SIS00
17,453
331 ,7 0 8 '
1 7 ,4 5 3 4 1 7 ,5 2 6
537
J _ _____J l!1
170,911 3 , 236,436
4,203

71,938

1,134

5,110
21,824
239, 829 b/
4 2 ,S^-*5 64,192 1,421,565-7^
6,472
9,512
221,723

209
2,746

J 9.J7?
57 , 44f-(.093,433 1.913.
45,510
63,225 1.233,797
S'?

105,827

5,ooc

170,911 3 , 2 3 M s | )
a

s

RelU-ieed fcr publication Surdo.y morning January 20, 193 s .
j,T0t >dr]nr,
STATZvEir OF 3EDERAL RESERVE AGSELJTS: ACCOUNTS AT CLOSE OF EUGI1:TESC JANUARY 13, ,1^1 Z.

xf>5yc.

(Iii thousands of .dollars,» .

ZSTERAL RESERVE NOTES:
" oeived f vol * «jomptrailer,
Tietv m ed t ' nkTipt r*o11 or ,
w is--.*l^
lo_l
w Jb» Jri. — eat j
.in hands oi j<\ .tu Agent,
T£':'\;-:d c T7* P, B.ink. less
urn, rob'uined to F. R.
f\{?ent icr redamption,

BOSTON NEW YORK PHIIA
105,460
x2j yJ 20
on

~Z.

1 OH

A7n

1 r'>

e *C ) I

OLEVE.

HIGH.

Ijj.'JoL

/ , y100

f".

S’ -tr\

107,256
109,300
9,760

124,090
15,440

79,307

477,S41

93,096

33,110
4,297

134,277
12 ,.423
40,000
241,141

4,220
5,232
56,924

31,720

71..30J. 477,341

93,096

36,700

33,036

24,927

537,641

5,120

ir-

orr-fr-

ATLANTA, CHICAP-0 ST. LOUIS MIiV
S9,62 0
2^0,1(30 (3?b5C 67 >S^G
-1 -1

_________

-1

62,215

72,512

4,420

105,650 57,795

on hcaid,

TOTIL
OF ELIGIBLE PAFER D£—
T .T '^ M TO 17, R. AGENT,

6,000
39,^00

241,166

_ ......

TOTAL

1 , £63**540
J 1J
*

fr.2f ».-/f,P

13,120

232,637
43,150

65,190
5,675

57,507
6,S40

65,392

153,457 59,515

50,967

Ul, 2 oL

3,604

3,202
1,360
35,000 25,000 . *2,420
46,500 31,435 16,166

*• *
*• •
75 2,405
112 , 05s 32,903
71,324 24,207

13,102
2,019
22,500
13,346

* •
3,333
3,526
45,360
5,974 45,906
12,240 -21,396
29,103
/ . .r, , -<
£
.*. jei__

105,650

57,795

65,392

159.*+57 59,515

50,967

61,262

45,755

7 0 , R3 5

1,373,105

50,970

45,729

l 6 ,b 26

26,922

14,342

12 , o4o

22,150

36,214

6 ~ 056

*5,1 S3 73,535
5,410 —--271___
0 10,310

1,373,105
1 ^4.^02

CuLIAIoIFAL xIELL AS SECURITY
FOR OTJTSiMKDT'TG NOTES:
Gold coin j/id cert if icat~cGold ^ ■'d^mv-ion fund.
f und, E .R , B oa rd,
?tt:

. _

FANS OY- DALLAS. SAW FBAH
J?, 7*4-0 60 , 500 o5,l40
_
<
,
,
, »jw
y.uv^;
70,262 ’ 55,593” 73,535

21,107
5,743

72,263

9,000

2,562

10,105

h-^)f'fuu .. 72,535
-•- ^ r
•

14,520

1 , 605,565
232,460
1 , 373,105

274,000
46,132
476,545
576,37c

M E M O R A N D A
FEDERAL
V. R«, Motes outstanding,
i . R- Notes held by banks,
F. R. Notes in actml cir­
culation,

RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION.

79,207 477,341
5*121. _ 73 .231

93,096
6,273

102,650 57,795

65,392
4,417

129,457 59,515

6,547

74,632

91,323

105,222 51,245

60,975

130,276 57,142

393,610

3,365

9,131

2,373

50,967
1,795
49>172

61,262
55,352

45,510

62,225

DISTRIBUTION OF BILLS AND WARRANTS BY MATURITIES.
Within
Bills discoraitod and bought,
Municipal warrants
-f
Digitized forAFRASER


15 days

360 , SbO
141

16 to

30 days

150,753

510

31 to 60 days
188,712
131

6l to 90 days
117,153

Over 9G days
13,77S
335

Total
361,292
1,117

1 . 235,797

Xo>Qd
Not earlier.

Releasad for publication Sunday m-*>ming j'unvury 20, 1$1 3,
SEATiS/IaL£T POE THE PHE53

January ?.S, 191S
Reports from 659 member banks ir. 101 cities, reflecting condition
as at close of business on January 11,

(as against 640 b&nke, jn

96 cities

heard from the week before) indicate net decreases of about U3 millions in
Government securities owned and of
obligations.

32 millions in loans secured by Government

For the New York City banks a decrease for the week of about

IS .3 millions in Government securities owned is shown, while loans secured
by Government obligations fell off about 35*6 millions.

Loans and investments

in the aggregate show but little change, while loans ~nd investments of the

56

reporting New York banks show a decrease for the week ox about 35 millions,
Government deposits declined about 131,4 millions, withdrawals
being heaviest at New York City«

Large portions of the funds withdrawn were

deposited to the credit of the Allied Governments, chiefly at Now York City
banks,

Accordingly, aggregate net demand deposits of all reporting banks shew

an increase for the week of 272.4 millions, of which 111,3 millions represents
the increase in demand deposits reported for the New York City member banks.
The ratio cf loans and investments to total deposits of all reporting banks,which the week before stood at about

105 per cent, has gone

down to 104 per cent, while for the New York banks this ratio has declined from

100,7 to 99*9 par cent*

Reserves with the Federal Reserve bank show an increase

more cr less commensurate with the gains in demand deposits.

Of the tot^l :;e*’

serve account of l,49o»5 millions shown for January 11 by all Federal Reserve
Banks * the share of the reporting banks is slightly over SO per cent, this
ratio continuing fairly constant from w^ek to week.

For the reporting banks

in the New York Reserve district this percentage runs as high as 95 P~r cent..
Little change is shown for cash in vault and time deposits, The ratio of combined reserve and cash in vault to total net deposits of all
reporting banks remained unchanged at about

15 per cent.

For the Hew York

City banks, ,owing to substantial increases in reserve and cash, this ratio
shows an increase from




15*7 to 16.5 Per cent.

T
x659c

Not earlier-.

BrtWWd

f i LIABILITY R M

OF M

M13KS LOCATED B « p L

BESEEM, EES5EVE Ai.D OTfiEE

SELECTED CITIES AS AT CLOSE OF BUSINESS JANUARY 11, 1416.
1. Data, for all reporting oaiiies in each district,

:
MSMBER MMCS
No. reporting bulks
U. S, Sec. owned
Loans secured by U;S.
Bonds and certifical
All other loans and
investments,
Beserve with J. 2. Bank,
Cash in vaul t .
Net deiaund deposits
on which reserve
is ccciputed,
Time deposits,
Gov11. deposits,_______

BOSTON
35
29 , 951

NEW YOBK
436> 575

PHILA. CLEVE, ' RICH.
46
75
2S,9?o u.o»i65 41,446

40,962

231 .SSS

25,163

96

550,369
75,356
39,73Q_
2

D

J
o

. r e p o

U

. S . , S e c u r .

L o a n s

l l

g

&

C

o t h e r

i n v e s t m

a t a

f o

r

l o a n s

C a s h

v

a

G

. S

u

d e c i a n d

o n

w

i s

c c t i p u t # ^

h i c h

1

4

3

i n

, ----- J

a

n

J

. 4 ,

56
, 9

F

. R

. B

a

d e p o

n

2

5

4

6 2

, 2 0

0

2 0 9

, 5 5

1

2

4 5

, 1 6

9

k

.

602,146
120,677

571,35*
116,5*7

C

e n t r a l

a

n

. 1

R e s e r v e

ST.LOUIS

1 ,

37
35,043

J

a

n

c

i t y

15
21,71k

n

.

2

1

, 4

1

0

7

, 3

6

9

29,7*5
3,996

DALLAS
41

659
970,739

30,966

29,763

3,721

1,592

2,447

3,349

4,910

264,515 1 , 323,962 363,504
137,123 33,113
24,635
69,366 1*,999
1*,759

235,711
19,269
10,350

196,413

473,304

46,37^
20,046

20,176

43,513
25,233

207,211 1 , 011,945 223,977
332 , 00s 79,314
66,276
2 .16 L .,, 7.6. S.6l 11,257

176,592
43,207

196,133
41,55^ 23,691
3,379
7,572

35,231

,

b a n k s

i n

a

l l

o t n e r

1 1 ------- J a n -

10 s

4

107

5

0

0

, 7

4

2

5

1 3

, 7 1

2

2

3

3

, 3

3

0

2

7 3 , 6 1 1

729,931
17^,560

698,540
.172.871

B

o s e n r e

10,322

c

i t i e

s

a u

d

OTHER RESERVE CITIES
JcLXk*11 , ”—

o t n e r

14,129

3

13 d ,22$

127,225

21,155

4 , 417,511 4,319,S17

703,563

2 , 0

5 9

426,136

416,529

214,743

* 214,155

46,272
36,031

3 , 632 , 216 *3 , 497,257

531,234

1

9,935,131
1,202,339
425,334

o a n k s

TOTAL
Jou. 11--Jan. 4

COUNTRY BANKS
Jaja. ll-^-— Jan.
143
l*+0

333,291

393

391.

357,392 9,081,418
37,716 1,353,5*7
41^.013
i * ,* 5 3 _

r e p o r t i n g

4os
,3 2 7 , 93s

TOTAL

SJUJ FRAIf

13,133

339,106 256,402 4309,052 4787,169
93,040
4 4 ,88J

zz

KANS,CY.
6s

43
53 , 677

TOTAL
CENTRAL RESERVE CITIES
J a

. 1 1

MINN.

34
3*.750

3,315

12.

ST.LOUIS

0

6

1013,779

39*^11

423,232

, 7

22,996

640

659
,739

*721,704 9935,131 * 9323,690
* 43,176 1202,339 * 1163 , 245 .
* 39,234 425,334 * 426,310

<

s i t s

r e s e r v e

d e p t w

e a c h

50,735

C H I C A G O

Y O R K

3 , 7 1 3 . 5^ 3 , 606,579

3 , 962,030 3 . 350,703

d a p a s i t . * ,

o v ’ t ,

. 1

b a n k s

a n d

l t ,

e t

694,072 274,632
204,693 45,443

35,629

90
7 i ,m

.

e n t s ,
i t h

T i c i e

U

e r t i f i c a t e s

w

N

4

b y

n

56

o w n e d .

R e s e r v e
i n

a

b a n k s ,

s e c u r e d

B o n d s
A

r t i n

4 , 347,335 6o4,4o2
326,935 26,054
141.211

N E 1 7

N

25,199

139.10S

34
3.2,561

336,395 312,721

25,933 30,324
44 , 26s 22,522

24-, 355

CHICAGO

11,465

22*113

663,609 4,123,136 633,093
635 . S06 64,736
55> 332

ATLANTA

i t s ,




234,324

235,448

125,035

227,279

702,317 203 , 6a 4367,963-47^, 567
135,570
62,902 432,796 474,053
51.625
9,713 136,433 295,339
4&«&4«4

* Aocondcd figures

723*5*3 * 7U7.55S
210 , 775 ' * 230,611

*

5 6

7 , 2 1 7

9

0

3

1

, 4 i s

147,373 * 161,977 1353 , *
21,310 *

23.939

* 3

3

0

9

, 0

4

1

13 ^3,5 3 3

410,013 * 550,439

Released f«r publication Sunday morning January 27, 1918.

X676
N*t earlier.

STATEMENT FOR THE PRESS
January 26, 1918.
Heavy withdrawals of Government deposits coupled with substantial
increases in member bank reserve deposits mainly at the four Eastern and
the San Francisco banks are indicated in the Federal Reserve Board's weekly
bank statement issued as at close of business on January 25, 1918. Aggre­
gate gold reserves shew a decrease of about 3 millions while total cash re­
serves fell off about 1.5 millions.
New York reports a gain of 35.2 millions in total reserves accom­
panied by an almost equal increase in member bank reserve deposits. The bank
liquidated about 26 millions cf investments, mainly U. S. certificates of in­
debtedness, held temporarily for the accommodation of member hanks, and col­
lateral notes, secured by Liberty bonds and certificates of indebtedness;
it also paid off an aggregate balance of over 25 millions in account with
other Federal Reserve banks. Chicago’s decrease of 34.7 millions in reserves
is due largely to the withdrawal of 31.8 millions of Government funds, also
to an increase of 5.3 millions in investments. Changes in reserves reported
by other Banks are due largely to the withdrawal.* of Government deposits or,
to the shifting between banks of credits in the Gold Settlement Fund.
Bills discounted on hand show an increase of 24.2 millions, the
Cleveland, Chicago, Kansas City and San Francisco banks reportirig substan­
tial additions to their holdings of members banks' collateral notes, secured
largely by Government obligations, Of the total discounts held, the amount
of paper secured by Government obligations is 312.5 millions as against 300.3
millions the week before. Holdings of Government short-term securities,
largely certificates of indebtedness, show a decline for the week of nearly
50 millions, the New York and Cleveland banks reporting the largest sales
of this class of securities.
Acceptances held increased by about 16.1 millions, Boston and New
York accounting for practically the entire increase shown. U. S. bonds on
hand show a gain of 4,6 millions, mainly at the New York and Minneapolis
banks. The inerease of over 1 million dollars in all other earning assets
shdwn by the Chicago bank is due almost entirely to the purchase of warrants.
Total earning assets decreased about 4 millions and represent about 69 per
cent of aggregate net deposits, as against 70.7 per cent the week before.
Of the total, discounts constituted 60.9 per cent; acceptances 26.6 per
cent; U. S. securitiesj 12.0 per cent, and ether earning assets, 0.5 per
ce»t.
Payment for Federal Reserve stock by newly admitted members ac­
counts for an increase of $501,000 in the total of paid-in capital, N#w
York and Cleveland reporting the largest additions under this head. Over
23 per cent of the capital stock of the Federal Reserve banks stands at
present in the name of State banks and Trust companies. Government de­
posits show a decrease ef 104.1 millions, all the banks,except Atlanta, St.
Louis and Dallas, reporting substantial withdrawals of Government funds.
Member banks' reserve deposits increased 59.2 millions, the Boston and New
York banks showing the largest gains under this head.
But little change is indicated in the total amount of Federal Re­
serve notes outstanding. Against the total amount of notes issued to the
banks the Agents hold collateral of $793,819,000 in gold and $634,363,000
in paper. Total Federal Reserve notes in actual circulation show a further
decrease of 53,663,000 dollars. The ratio of the banks’ xotal reserves to
their net deposit and Federal Reserve note liabilities combined shows a rise
from 65,2 to 65.4 per cent.





V


'

January 26, 1917
3

0

2

.

. 3

4

1

. 0

0

0

213 771.000
516,112,000

2 73 . 320,000
1,813,000

751 . 245.000
_ 1-7,5731OOP.
808.824.000
15 , 711,000
-.9Zi.6ar,pop
113.408.000
36,122,000
19 . 647.000
12.249.000
181.426.000
(a) 4,128,000
«Y
126.437.000 £
13»>56Qt^OQ
400,000
___ 11,609,000
1,126,573,000

0

HE S O U R C E S
January 25 , 1918
January 18, 1916
Gold coin and certificates in vault......... . . » ................ $% 72 , 012,000
$ 477 ,301,000
328,210,000
383,232,000
Gold Settlement Fund - F. R- B oard ...................... ........
Gold with foreign agencies...................................... . .......
52.500.000
52,500,000
Total gold held by banks..........................................
912,722,000
913,033,000
Gold with Federal Reserve Agents....................................
793,229,000
796,727,000
Gold redemption fund..........................................................
19.956.000
1 9 [710!000
Total gold reserves...................................................
$1,726,507,000
’
‘
$1 , 729 , 470,000
Legal tender notes, silver, e t c . . . . . . . . .......................
56 . 252.000
54,837,000
Total reserves............................................................
1,782,759,000
1,724,307,000
627,662,000
603,488,000
Bills discounted for Members and F. R. Banks..............
Bills bought in open market..............................................
273.912,000
25?!804^000
Total bills on hand................................. ................
9 0 1 ,^ 4 ,0 0 0
861 , 292,000
U. S. Government long-term securities...........................
50, 525,000
45]91l[oOO
U, S* Government short-teim securities......... ...............
72,669,000
122,*310*,000
All other earning assets,.................... ; ...........................
4,^02.000
4]224!00Q
1 , 029, 670,000
1 , 033 ’ 7 3 7 ’ 000
Total earning assets.................................................
Due frcm other F. R. Banks - net................ . ..................
32,505.000
35,818,000
*
*
*
Uncollected it m s ...............................................................
3 23 <703.000
3 21 ’, 70 s! 000
Total deduction from gross deposits......... ......... .
356,208,000
417,526,000
% Redemption fund against F. R. Banknotes................
537 ,000
537! 000
All other r e s o u r c e s ..,............................................
...........201,OOC
379*000
TOTAL RESOURCES
3,169,375.000
3 ^ ^ 4 8 6 ,0 0 0
L I A B I L I T I E S
J J '
’
Capital paid-in............................... .............................. .
72,439,000
71,938,000
Su^ lus...................................... .............................. * ..........
„
1,134,000
1,134,000
135,691,000
239,«29,00(^- 7 (0
Government deposits....... .......... ................................... .
Due to members - reserve a m o u n t..,,............................1 ,4 8 0 ,7 4 3 ,0 0 0
1 ,4 2 1 , 563^00
Collection i t e m s . .. , . ........................................................
194,955,000
221,728^,000
Other deposits, including foreign GovH credits.........
37,697,000
3 0 !t79!000
Total gross deposits......... . ............................... . . . .
1,843,086,000
*
1 , 913,3997000
F- R, Notes in actual c ir c u la t io n ..............................
1,234,934,000
1,238,797,000
8,000,000
* s'ooo'ooo
F. R. Bank notes in circulation, net liability...........
All other lia bilitie s.............................................. ..
3.782.000
a ^ ie r C o c T 0
TOTAL LIABILITIES
3.169.375.000
f tZ$£,486,000
Ratio of gold reserves to net deposit and 1 . R. note
liabilities combined.......................... ......................
63*3 $
63 . 2$
Ratio of total reserves to net deposit and F. R. note
liabilities combined................................................
65*4#
65 -2$
,
(a) Net amount due to other F. R Rinks.

25 , 191 a.

o

Released for publication Sunday morning, January 2f, 1918Not earlier
STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JANUARY

55 . 634 .000
»« V

25 . 607.000
687.841.000
37.374.000
210,822,000

253 , 768,000

* %«
229.000

1 , 126 , 573,000
8 4 ^ £

fb.

f
3

Released for publication Sunday morning January 27 , 19IS.
Hot earlier.
-:676b
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE ftAwire AT CLOSE OF BUSINESS JANUARY 25, lylo*
t h o u s a n d s

K c t o O U R C E S :
G o l d

c

o

m

a a d

c

e

r t i f i c a t e

s

i n

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G

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w

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f o

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a g e u c i e s

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^ ,3 5 4

236,^67

G

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9

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4

2

4

<£>\3

3

2 2 4 7 5 6 6

6

, 8 5

___________3 0 0

2

. 3

«■« «

, 8

b

, 0

1

. . .

0 4

7

1

, 9 8 9

3 8 , 9

1 2

5 . 9

2 5

4 9 , 3 6 0

. . .

8

7

5

0

, 5

, 2

1

5 7 , 3 2 9

6 2

, 3 1

, 3

1 2

6

1 0

. . .
3

1

9

. . .

8 0
5

2

5 , 3 0 7

3

1 2 0 4 , 0 6 7

7

, 8

5 1 1

1 1

1

1 3

3

1

7

0

4 . 1 7 Q

. . .
4

2

1

9

. . .
1

l a t i o

TOTAL LIABILITIES,
( a )

8

. . .

9 » 2 9 5

7

3

. . .

2

, 0 7

8

3 9 5

, 9

i t s ,

s i t s ,

a c t u
i n

b

a c c o u n t ,

s ,

c

2 6

, 2 7

, 1

A T L A N T A .

26,305 47*575

2 2 , 6 2 0

5

4

, 7

.

6 , 2 5 ?

6 1

2 , 2 4 3
2

2

64>6lO

6 8

5

4

8

5 0 0

2

----- Z 5 ± | 9

6 4 9
5

r e s e r v e

i n

i n

o t h e r

5

5

, 1

6

64,916
________ 1 ,
1

7

0

R I C H M

, 3

2 0 , 4 6 1

I
1

. 6

4

0

6 5 * 2 7 1

t ,____________ _ ♦ » » ■

s i t s ,

.

^

2

6

1

4

1 8 7 , 0 3 0

5

. R

d e p o s i t s

T o t e a
F

d e p o

0

. C L E V E L .

5 9 ! 6 6 1

3 6 4
4

7 5

e n t

0

. S O
^

i * e t

s ,

i n ,

t i e w b e r s -

7

1

1

0 5

r e s o u r c e s ,

p a i d -

, 0

. 1 . ___________

s ,

G o v e r n m
D u e

4

5 1

t s ,

TOTAL RESOURCES,
L I A B I L I T I E S ,
S u r p l u

5

7

3

7 8 , 7 5 2

7

, 3 4 4

5 J &

l l

6

0

6 1 0
4

Total deduct1s.frcm gross deposits lb,
Ttedxaoption fund against F.fUBk.riOies

A

4

4
P

2 , 1

U.S.Govt.sfccaft-terci securities,
A

8

, 8

. 3

6
s

, 1

1

3 , 5 3 p

1 0

i n

O

I L A

3 7 , 1 9

2 , 2 9 5

_ 5 , 3 4 6

r e s e r v e s

B

O

H

1 8 , 7 9 0

_

u p o rtT rtjr- iM s

» l 6

2 0 1

9 l 3 7 5

4,217

72.439
1»13*»
16,457 135.691
69,184 1,480,743
9,284
194,955
* **

-• «.

4« •

2,448
37.697
97,373 1.849,086
67,481 1,234,934
«
8,000
41 _____ 3 i ?S2

I

R

e l e a s e d

f o

r

p

u

b

l i c a t i o

n

S u n d a y

m

o r n i n g

J a n u a r y

2

/ ,

1 9 1 8 -

N o t

o

a

r l i a r .

S^TIMHJT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JANUARY

SED&BftL RESERVE NOTES:
Received frcm Comptroller,
fieturned to Comptroller,
F.
F,
C h a r g e a b l e
I n

h a n d s

I s s u
a m

e d

t o

o u n t

t o

R .

o f

R

F <

R *

.

A

B

A

g e n t ,

g e n t ,

a n k ,

r e t u r n e d

t o

P

( I n

R

I R

A

p t i o n ,
S

O U T S T A N D I N G

o l d

c o

i n

a n d

c e

l l a

r s

25 , 1913 .

) .

CHICAGO ST,LOUIS MINN. KANS.CY,
SAK FM N,
24u,lSl 73,860
67,980 82,740
6s , 500 8 6 , % ^ . , 1 , 875,661 ,
_ _ Y ,« b 2 _ 8^896
10,272 12,648
1 2 ,7 57 6 ,6 /2
_ 2b l, 0g4 1
232,319 IT4,964
57 , 70 s 70,092
5 5 ,7 % "so , 2^ “ ' iT 6 i4 ,6 fiT t
41.980
6 . 62S____ 6 , 240 __ 10,220
1 0 , 87O
J
241,035
D A L L A S

:9?L236j.03 14l0_6l 1275_6lLg21^__190l339__ 5 g ,3 3 9 _ _ ^ 0 1s6s _5*3,872

N

t e

s

= g g ^
f

E

L I V E R E O

L I G

1 0

I B

F *

4,220

...
3 , 6o4
....................
5,593 1,305 2,351
427
2,379
35,000 25,000 41,020
120,087 32,503
43,800 54-,970 16.246____ 6j,_gi5_, 23,457

24,017

5,167

40,000
241,140

55,529
32,320

L E

P A P E R

13,102
1,920
22,500

2.50Q
45 SoO
1 1 1*503

13,346

R.

A G E K T ,

= - ^ n

i

^

^

^

g

l

g

§

. ^

O

g

l

^

g

^

l

-

3

6 , 7

0 3

2

4 5

, 7 8

0

3

F E D E R A L

.

S

.

F
F

N o t e s

.

R

.

N o t e s

h

.

R ,

N o t e s

i n

7

, 3

2

2

6

c u

l a t i o

n

b y

a c t u

" b a n k s ,
a l

c

?

5

_

g

. 1 g

2

1

^

_ 1

9

0

. 3

3

..
4 ,4 /s

6

2

, 3

3

8

4

_ i t i 8 8 2 _________8

0

, 1

4

N O T E S

5 , 6

e

5 7

m

o

1

6 , 3

r

a

0 3

n

O U T S T A N D I N G

7

d

a

i l l ®

97*236 108,410 61,275 63s821

5 ____________ 5 j l 8 0 6

3

, 6

5

4

8

, 1 3

2

4

. 0

8

0

, 7

5,174 4i ,666
2 2 ,692 34,104
44,873 80,2^8

1 ,3 7 3 . 6^2

1 2 , 8 5 6

22,762 41,664

634,363

59 . 8/2

3
44»873 80,2^8
1 ,3 7 3 . 6^
- 25112J57..„_... 138; 698

55 , 27 s

44,617

9

5

8 , 3

3 9

5

0 , 8

6 8

5

6

2

8

3

1

4

7

7

, 0

2

, 1

0

276,894-0
4^,5^6 «
J+71.339
jin - m

9

. 8

7

2

.

I N

A C T U A L

C I R C U L A T I O N ,

190,339

2

1

0

53,339

. 1 7 ^

2

. 2

7

5Q*s6s

* ___________ l , 9

j g

i r ­

,

75,872 397,^62
R

W

Bills discounted and t ought,
Municipal mrrants,




R E S E R V E

^lH ?7

o u t s t a n d i n g ,
e l d

g

14,500
2,427

D E -

m

F

1,373.6^2

O T E S :

r t i f i c a

TOTAL
O

44,873 gQ.^^g 3

S E C U R I T Y

013

A M O U N T

T O T A L

.

184,262
12,205

K
G

H E L D

o

l e s s
.

33,109
Gold redemption fund,
< 4,245
Gold settlement fund,F*R.Board,
7,000
Eligible paper .minittuta required 36.400

C O L L A T E R A L

r e d e m

d

N E W

447,607

f o r

o f

BOSTON
YORK l-CllA 'CLEVE. RICK. ATLANTA
106,500 710,620 133.200 133.760 81 ,7*40 89,620
20^
— 123.273
20,724
9.910 q 6.045 11. ^ 9
85,
112 ' U7 6 1 23 .S 50 65,^95 7 8 . 2S T
5i.l6Q 109,SQO __15 ,gH0 15,440 4,420 14,440
go*754

A g e n t

t h o u s a n d s

i t h i n

1 5

d a y s

390,212
149

91,^30 104,756 53,143 59,739
E

T

R

I B

U

T I O

16

N

t o

O F

B

3 0

d a y s

1&9,795
513

I L L S

A N D

3 1

180,165

W A R R A N T S

t o

60

B Y

d a y s

203,437
133

M

56,061

A T U

6l

R

4s , 930

6 7 , 4*1

I T I E S .

t o

S O

1

, 8 2

2 4

d a y s

2

337

O v e r

1

5 0

3

, 3

d a y s

0

8

1,005

Total
901,574
2,137

1 , 234 , 92^

3

Released for publication Sunday morning January

2T,

1918.

X67GA
Wor earlier.

STATEMENT FOR THE PRESS
January 26, 1918,
Liquidation in aome volume by the banks of Government secur­
ities, mainly Treasury certificates and Liberty bonds is indicated by
reports from 662 member banks giving their principal assets and lia­
bilities as at close cf business January 18, 1918.
Holdings of Government securities, (including U. S. bonds
on deposit with the U. S« Treasurer) of all reporting banks shoxv a de­
crease of about 35 millions, while leans secured by these </overninent
obligations declined 10,4 millions. Otae*' Ifcanfetartd invest&fenta;tyhow
an increase for the week of 23.1 millions. Member banks in ^evr York
City report decreases of 39.2 millions in U, S. securities owned and
of 19 millions in loans protected by such securities, as against an
increase of 12.4 millions in other loans and investments. Member banks
in the three central reserve cities show decreases of 51.2 and of 12.7
millions for the first two items as against an increase of 4 2 .S millions
in other loans and investments, Liquidation of Government lirar loan se­
curities and of loans protected by such securities apparently was con­
fined largely to bonks in the financial centers. Banks outside the
central reserve cities report, an increase of 16.2 millions in Govern­
ment, chiefly war loan, securities and of 2.2 million? in loans collaterated by such securities, as against a decrease of 19.8 millions
in other loans and investments. Aggregate reserves with the Federal
Reserve banks, f 1,147.3 nillions, show a decrease of 55.1 millions,
all groups of banks reporting smaller reserves than the week before.
The same is true of vault cash, which shows a total decrease fcr the
week of 30.5 millions. Calculated excess reserves with the Federal
Reserve banks are 90 millions as against 124.7 millions the week be­
fore .
Wet demand deposits of all reporting hanks are shown to
have decreased 183.9 millions, of which 122»1 millions represents the
decrease for the banks in the three central reserve cities, and 95.9
millions the decrease for the New ^ork City hanks. Time deposits de­
creased slightly* itfhile Government deposits went ur about 10 millions.
For all reporting banks the ratio of total loans and in­
vestments to aggregate deposits works out at 106.2 per cent as against
104.# per cqtit the week before. For the banks in central reserve
cities this ratio remains unchanged at 100.2 per cent, while fcr the
New York City banks this ratio in creased from 99.9 to 100.3 per c*nt.
The ratio of combined vault cash and reserve to aggregate deposits of
all reporting banks shovrs a decline from 14.9 to 14.5 p.r cent. For
the banks in the central reserve citic.c this ratio de clined from 15.3
to 16*0 per cent and for the New York City hanks from 16,5 to 16.1
per cent.




*

Released for publication Sunday morning January 27, 1918,
.

S T A T E M

E N T

S K O V I I T G

P R I N

C I P A L

1

f o

a

R E S O U R C E

A lffi

3 E L E C T E D
.

L a t a

mmm mms
N

o .

U .

r e p o r t i n g
S .

S e c .

L o a n s

s e c .

B o n d s
A

l l

&

e t h e r

i n v e s t m

C a s h
J J e t

d e m

o n

w

i s

c o m
e

n e d ,
U

3

.

r t i f i c

l o a n s

v

i t h
a u

a n d

h i c h

S

.

a

t e

a n

^

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s ,

0

3

, 1

7 ,

. R

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p

h

9 6
5

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4

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A S

i n

a

*

Y

I T E M

A T

e a c h

d

C L E t t E .

6

S 3 1*

2

i S

, $ C

5

2

5

, 2

8

1 2 1 , 2 9 2

6

2

2

, 5

5

5

OF MEMBER BANKS

S

C L O S E
i s t r

O F

i c

B D S I H E 8 S

t h o u s a n d s

o f

d

o

I C

H

67
913

ATLANTA
33
29,351

12,404

2,530

H

L O C A T E D

J A I I U A R Y

I S

I N
,

xSjSe

C E K T B A L

1

$ 1

R E S E R V E ,

R E S E R V E

A M

L

QTEL

8 .

t .

R

7 7

2 2 , 3 9 s

7

'$71*03* 4,143,874
F

C

b a n k s

Not earlier.

I L I T

,

i ,

l l a

r s . ) ________________

75,020

3*
3^,955

MIMff.
30
13,550

42,786

9,287

2,386

C H I C A G O

91

S T . L O

u

I S

I O

N

S

.

3

1

,

SAII FRAIT
43
53,672

D A L L A S

C Y .

69

4 1
3

5 * 5

2,942

0

, 4

4

2

6

3 , 9 6 9

, 4

0

3

, 7 0

1

T O T A L

6 6 2

935,79*
3

2

1

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1

0

d

a

n

k

,

4 9 , 6 2 7

l t ,

2

2 , 6

626,612

6 1 6 , 3 0 1

4 5

5 4

, 6 2 8

1 2 9

S ^ .S S S 311,416
8

, 3 2 5

2 3 , 1 5 8

2

, 1

8

259,449 1322,694 336,370 231,321
28,095
25,079 13*, 68* 3*, 967 18,384
l 6»«66
64,631 > 4,U 6
9,9*0
12,950

*

4 5 , 4 5 4

4

4

2

, 7

5

4

1 9 6 , 5 2 6

2

42,64s

1

13,290

1 3 , 4 0 6

9

, 8

9

6 4

$,955,227

40,585

5

2

3

, 7

7

, 1

4

7 , 2

7 4

3

9

* , 8

5

6

. 9

0

1

3

9

1

2

d e p o s i t s
r e s e r v e

p u t e d ,

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r e p o r t i n g

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e n t s ,
w

i n

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l l

B

( X n
B O S T O N

b a n k s ,

"b y

C

R e s e r v e

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p

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f

4

5 5 3 > ' * 0 2

s i t s ,

7 6

deposits,

3

2

.

i £ 4

, 5 9 1

0

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f o

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C

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201,927 997,142 278,716 173,652
65,051 3*1,156 SO, 539 *7,151
12,3J7
1 . 223. _25.23* ... 7,244..

246,029

379,392
46,1^9

51,021

5
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353,266
23,878

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1,361,600

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