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I* 1# sed for publication Sunday morning Nov.25,lyl7* Hot earli££^' STATEMENT FOR TEE PRESS. Nov. 24,1917. Gains of 20.4 millions in gold reserves and of 21%9 millions in total cash reserves together with increases of ^ k.2 millions in investments and of 31*2 millions in net deposits are indicated by the weekly bank statement issued by the Federal Reserve Soard as at close of business November 23 ( 1917* During the week the Government redeemed large amounts of certificates of indebtedness thereby strengthening the reserve position of the banks. On the other hand heavy withdrawals of Government deposits frcoi depositary banks apparently increased the pressure on the Federal Reserve banks, causing an in crease of discounts, largely at the New York Bank. The latter bank reports a decrease of 26 millions in reserve, and of 27 .8 millions in Government deposits, it;; investments show an increase o f,I 7 .I millions, while an adverse balance of 58.9 millions shown the week before in account with other Federal Reserve banks has been turned into a favorable balance of 9*5 millions. The bank disbursed during the week $112,329,750 to the Allies, 55 millions going to Great Britain, 40 millions to France, 15 millions to Italy, $ 1 , 329,750 to Russia and one million tc Belgium. Boston's decline of 14,3 millions in reserve is due largely to the heavy withdrawals of Government funds, while Chicago's decline of 12.3 millions in reserves, is..accompanied by an increase of 21»7 millions in investments. Bills discounted on hand show an increase of 16S.2 millions for the week, all the banks except Minneapolis and Dallas reporting considerable increases under this head. Of the total discounted paper held, 449*5 millions .as against 319 *o millions the week before is represented by member banks' collateral notes., uver 80 per cent of these notes, or 3^5*5 millions, are secured by Liberty bonds and U. S, Certificates of indebtedness, the New York Bank alone reporting 299*2 millions of this class of paper on hand. Aggregate holdings of acceptances increased about 6 millions) the larger increase shown for New York being offset in part by net liquidation of this class of paper reported by some of the Western banks. Government short term securities decreased by over 130 millions, chiefly at the New York Bank Other classes of earning assets show but little change for the week. Total earning assets stand now at 979*1 millions and constitute 14JS per cent of the banks1 paid-in capital, compared with l}8J$& how n the week before, Of the total, discounts constitute 67 p®r cent; acceptances 21*4 per cent; U. S, securities - 11,4 per cent, and warrants - 0*2 per cent. Increases in paid-in capital aggregating $445,000 mainly through •.. admission of new members are reported by four Reserve banks, Since October 12 the gain in paid-in capital amounts to over 6 millions, corresponding to a combined capital and surplus of about 20,0 millions of newly admitted members. Government deposits decreased 22*5 millions with considerable shift ing of funds and concentration at New York, Chicago, and San Francisco, Member banks1 reserve deposits show a decline of 53 «S millions, Boston, Chicago and San Francisco reporting the largest decreases* Outstanding Federal Reserve notes, $1 , 102 , 2$7 J300, show an increase of $63 j 667>000 •for the week and are secured by $ 6 2 3 gold and $532,411,000 of paper pledged with the Agents. The banks report a total of $1,015*892,000 of Federal Reserve notes in actual circulation, ah increase of $43>307>000 fo* the week. T Released for publication Sua&ay doming Noveaber 25 , 1917 . earlier-. SEA22MENT OF CCMBDSSD RESOURCES M D LIABILITIES OF THE TWELVE FEDEBAL RESERVE BANKS AT CLOSE OF BUSINESS TSOYFMBER R E S O U R C E S : _ November 23 , 1917 . November lb, 1917 uola coin ana cert ij. acutes an vault.................. ......... «.$530,045,000 $526 792 000 C-cld settlement fund.................. ........................................ 386,662,000 3 63 ’710’ 000 Grid with .foreign a ge n c ie s.............................................. 52,500,000 , 52 !500i000 iooal gold neld 07 o&aks........... .................... ......... . 969, 20J , 000 943 , 002,000 Gold vrit.h Federal Reserve Agents................................... . 623,948,000 629*906 '000 redvration fund......... .................................................. lit 549,000 , 11 ]420!000 m i a l goto, reserve............................................................ $1,604,704,000 $ 1 , 584, 328,000 Legal tender notes, silver, e t c ,.................................... 54,058,000 52 525 000 __Tot.,l reserves........ ......................................................... 1 , 658 , 762,000 1 , 636, 853 ! 000 jDiUrf discounted - Meuoers......... ........................ ............. 656, 002,000 4g7 g50 oqq Bi?.Is bought in open s^rket........................ .................... . 209,905,000 i q x ’ *Aa’ nnn Tot..l tills on h a n d ........................................................ 865, 907,000 --------'681 , 719,000 U. S„ Government long-term s e c u rit ie s.......................... 53,962,000 ck nr? nnn U. S . Government short-term securities................. . 57 )850*000 187 904 000 Municipal variant s . . ................................................. .......... l|422^000 1 j273 !000 Total earning assets........................................................ 979>141,000 924,898,000 Due from otner F. R, Banks - N e t . . . . ............................11,872,000 17,838,000 Uncollected iteus................................................................. 302 , 525,000 428,’ 544^000 446 382 000 Total deduct.ians from gross deposits.. . . . . . . . . . . . . . , 314,397,000 ’---- — --5% RodsEption fund against F. R. Sank notes............. . *537^000 *537*000 Ail o;,her resources............................................ .......... . . . 3 , 293^000 .3 . 736!000 j a w * resources 2 , 95^1367000 3>oii 406 obo V I A 3 . T L I T I E S Capital p a id - in .,............................................................... 67,136,000 66,691,000 Government, deposits............................... . ....................... . 196 , 411,000 218 , 887,000 1,480,498,000 Dae to members ~ reserve account......... ........................... 1,42^648,000 Due to non-memDer banks — clearing account.................. 22,291,000 20,925,000 Member bank deposits - n e t . . . . . . . . . . . . . . . ........... . * . Collection items............ . .............. ...................... . 215,169,000 240,437,000 Total gross d e p o s i t s . . . . . . . . . . ..................................... 1,860,519,000 1,960,747,000 F. E. Notes in actual circulation............... . 1,015,892,000 972,585,000 F. E. B*nk notes in circulation, net liability......... . g qqq qqq g qqq 000 All other liabilities including foreign Gov*t dreditfr 4 , SS3*000 4*383 000 TOTAL LIABILITIES 2,956,130,000 3.0121406*000 Gold reserve against net deposit l i a b i l i t i e s . . . . . . . . . . 62.6^ 62 .2 $ Gold and lawful money reserve against net deposit liab 1s SSll^ 65-7L° Gold reserve against F. E. notes in actual circulation 62*6* 23 , 1917* N o v e m b e r 2 4 y $ 283 , 730,000 1 7 4,801,000 458,531! 000 241 , 566, 000 000 701,501. 000 17,97.4, 000 719 . 475 . 000 20 , 501 , 000 102,092, 000 122,593: 000 1 , 4 0 4 , 39 , 427 , 000 11 , 167 , 000 1 22,16b, 000 000 9 5 3 5 3 000 4 3 2 6 3 , , , , 43 . 263.000 470,000 2 . 651,000 961 , 212,000 5 5 . 7 1 1 . 0 0 0 26 . 319.000 637 . 072.000 663. 391.000 2 4 0 . 4 4 8 . 0 0 0 1 , 0 2 8 , 0 0 0 . 0 0 0 6 3 4 961.212.000 76 . 8$ 101 . 0% l 9 ^ 6 X530t> Released for publication Sunday morning November 25, 1917- . Not earlier . • WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 23, 1917 . (In thsmsands of dollars). Boston N. Y. Phiia Cleve. Rich. AtlUa Ciiicagcf S.L^uis Minn, Kans.Cy Dallas S. Fran Tetal RESOURCES: Gold coin and certificates in vault 31,698 333,775;, 21,106 29,073 6,144 5,551 . 33,900 5,362 14,234 3,988 12,531 32,682 530,045 Gold settlement fund 6,016 28,666 40,511 50/490 40,417 13,545 35,529 386,662 27,504 72,007 25,640 15,894 30,443 Gold with foreign agencies 52.500 2,888 3,675 18.112 3,675 1,838 4,725 1,837 1,575 2.100 2,625 7.350 2.100 Total gold held by banks 41,389 380,554 65,292 84,288 48,398 20, 671 113,257 33,102 32,228 37,056 41,873 71,099 969,207 Gold, with Federal Reserve Agents 623,948 30,461 174,058 50,644 48,121 31,940 43,851 81,692 38,847 29,325 30,186 29,039 35,784 Gc^Mredemption fund 11.549 41 5.000 1,035 1,000 950 514 595 594 . 31 754 573 462 T ^ a l gold reserves 72,850 559,612 116,886 132,440 80,932 65,095 195,411 72,703 62,148 67,756 71,947 106,924 1, 604,704 .Legal tender notes, silver, etc 222 54.053 42.658 528 5.362 37 679 310 1.023 158 305 614 2.162 Total reserves 107.146 658,762 602,270 117,909 72,475 133,119 78,212 81,090 65,400 197,573 73,317 62,458 67,793 3-, Bills discounted - Members 6^6,002 8,375 18,080 37,574 351,111 22,914 30,149 16,623 12,653 97,805 17,334 10,252 33,122 Bills bought in open market 209,905 16.848 9,044 10,818 30,234 4,535 50,340 25.604 31,082 12.937 4,72? 5.949 7.786 Total bills on hand 865,907 67,806 401,451 48,518 61,231 29,560 17,380 103,754 25,120 19,306 37,658 19,193 34,928 U.S«Government long-term securities 53,962 2,440 3,972 8,849 610 1,860 2,180 550 8,053 1,311 21,007 2,233 897 57,850 U«S,Government short-term securities 1,685 2,654 2,456 4,824 2,364 5,383 1,810 2,222 26,122 2,858 3,779 1,693 Muni cipal warrant s 46 1,42.2 25 * . 1,017 44 12 278 979,141 , Total earning assets 25,865 39,053 48,729 70, 874 430,770 51,970 74,120 33,235 23,938 128,540 29,046 23,001 896 (a) 11,872 Due 'from other F. R, Banks - Net 2,601 8,689 *** 9,514 2,831 ••* • •» * 10,109 *• 171 302.525 20.957 17.277 Uncollected items 11.690 24.410 60.973 30,636 21.706 20,613 17.121 16,222 44,022 16,898 314,397 Total dediictions from gross deposits 16,222 17,277 21,853 33,099 70,487 30,636 24,537 20,613 17,292 54,131 16,898 14,291 537 , , , 5% Redemption fund against F.R.Bk notes ... 137 400 *# ■ « «■ * *« 3.293 599 109 All other resources 980 ** « 1.470 100 35 ^■OTAL RESOURCES 165,308 1,103,527 200,515 231,776134,973106,730 380,244 120,731 100,730150,021 116,353 168,161 2, 956,130 JW A B I L I T I E S 67,136 Capital paid-in 4,033 2,783 2, 581 3,372 6,751 3,585 2,665 5,701 18,028 5,590 8,603 3,444 196,411 ~ Gov ernaent dep os its 36,309 7,132 12,753 11,048 4,227 28, 563 12,220 3,196 7,292 31,292 40,674 1,705 Due to ma i'oers - reserve account 78,715 657,097 82,623 104,785 42,257 34,673 159,931 46.682 41, 271 69,889 46,395 62,330 1, 426,648 Due non-member banks-clearin^, acct. 22,291 .4,^51 36 ... 10,973 5,984 485 48.2 « 2. . . 78 Collection items 215,169 6,915 13,968 4,614 12,162 52,094 ' 27,285 16,815 16,469 9,137 14*,3li 27,807 13,592 Due to other F. R. Banks - Net , ,, ». . 1.803 • «. * 3.894 1.086 9.063 7.093 Total gross deposits ,860,519 101,404 751,456 121,228 150,241 80,009 47,491 234,396 66,355 53,053 94,806 66,161 116,858 1, .?« R, Notes in actual circulation 57,604 331,167 73,151 74,687 51,379 56,574 137,024 50,932 45,096 43,599 47,409 47,270 1,,015,892 F P„Bank notes in circulation, net liab. 8,000 8,000 ** « * ♦* A11 other liabilities including for eign Government credits 4.583 », * *. * 244 97 »« » 599 »«• 221 *r 546 2,876 * • * • • 4 m 4 4 * - * va; Diiforenca between net amounts due from ana net amounts due to other F, R. banks* . » h . c i o a s . : 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 S T A T E M E N T N o v e m O F b e r 2 5 , F E D E R A L I 9 I N o t 7 R E S E R V E A G E N T S ' ( I n Federal Reserve Notes: Received frcm Comptroller, Returned to Comptroller, Chargeable to F, R. Agent, I n h a n d s I e ^ d t o f l P h a n t A g e n t C o F r o l d f o . r h i n g e n t , B a n k e l d a n d t o a s c e o l d r e d e m i t h F e d e r a l m p t i o n e r c i a l r e q , o f d Boston New York Phila... Cleve. Rich. A tl'ta .SS,^20 590,480 109,480 97 ,880 £00 7 2,280 1 n’° >r J' ,r 0 * \UD'I xu , a 71,701 478,298 93,534 89,561 55,031 62,148 10,320 100,420 16,060 12,940 1,220 4,390 a r l i e r C L O S E o l l a X 5 3 0 c O F B U S I N E S S N o v , 2 3 , 1 9 1 7 - r s ) . Total Chicago St.Louis Minn. Kans. Cy. Dallas. S» Fran. 191,720 65, 689 . 61,14-80 66,740 67,^40 .59,420. *7»UO7 JLi. 7X^30 i-J*) Djj _ U*r ... . f.ljW 52,411 55,542 55,887 53,688 185,892 57,734 38,300 2,890 6.090 8,700 7,810 1 , 5 4 0 , 7 2 0 '-'-j > 1 , 311,427 209,140 R , 377,878 77,474 76,621 53,811 57,758 147,592 54,844 46,321 46,842 48,077 53,688 25,859.-165,460 4,220 14,275 . . . 3,603 3,800 3,846 44o 3,178 42,624 30,000 31,500 37,070 2,512 2,030 s1,479 34,305 13,102 ... 14,030 1,723 1,826 2,485 14,500 28,360 12,474 * * *> 1,723 34,001 243,111 •5?. 5243 ^ ,3 3 3 61,381 1,102 28? s e c u r i t y n o t e s : r t i f i c a f u t e s 2,602 2,000 n d , R e s e r v e p a p e r , m t h o u s a n d s e A T l e s s F h a n d , G A m R . A r e t a e g p i i O B W C o m R . o u t s t a n d i n g c o o n F * r e t u r n e d l l a t e r a l f o G o f A C C O U N T S B o a r d , i n i m 8,598 213 u m u i r e d , 30,920 203,820 26,830 28,500 21,871 13,907 65,900 15,997 16,996 16,656 19,038 17,904 478,339 T O T A L 61,381 377,878 77,474 76,621 53,811 57,758 147,592 54,844 46,321 46,842 48,077 53,688 1,102,287 30,957 234,763 26,854 28,549 29,645 14,655 66,530 16,016 16,475 16,903 19.194 31,870 532,411 Federal Reserve notes Outstanding and in actual circulation. 77,474 %£>, 621 53 , 811 57,753 147,592 54,844 46,321 4 6 ,8 4 2 > 8,077 61,381 377.S7S 4,323 1,934 2,432 1,184 10,568 3,912 1,225 3,243 668 3,777 46,711 53,688 1,102,287 ______ 26, 15.5 5 4 o u n t o f d e l i v c c D i m e r e d t o e r c i a l p a p e r 7 A g e n t , . R . MEMORANDA • F j R N o t e s o u t s t a n d i n g , j 1* R . N o t e s h e l d F - R * N o t e s i n c i r c u l a t i o b y a c t u b a n k s 6,418 a l n 7 , 6 0 4 3 3 1 , 1 6 7 7 3 , 1 5 1 7 ^ , 6 8 7 5 1 , 3 7 9 5 6 , 5 7 ^ 1 3 7 , 0 2 4 5 0 , 9 ^ 3 2 5 , 0 9 6 4 3 , 5 9 9 4 7 , 4 0 9 7 , 2 7 0 1 Distribution of Bills and Warrants by Maturities. W Bills discounted and bought Municipal warrant s i t h i n 1 5 d a y s 1 6 t o 3 0 d a y s 5 2 6 , 6 2 0 6 6 , 2 9 5 5 1 s 5 3 1 t o 1 4 6 6 0 , 9 0 d a y s 0 1 3 5 6 l t o 1 2 0 9 0 , 4 8 d a y s O v e r 9 0 1 5 , 6 1 1 6 5 1 1 1 3 d a y s T o t a l 8 6 5 , 9 0 7 1 , 4 2 2 , 0 1 5 , 8 9 2
@FedFRASER