Full text of H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks : January 13, 1918

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Released for publication, Sunday morning, January 13, 1918,

Not earlier, XS45

STATEMENT FOR THE PRESS,
January 12, 1918,
The Federal Reserve Board made public today its weekly bank state­
ment as at close of business on January 11, 1918, Owing to interruption of
telegraphic comriunication the statements for the Atlanta Reserve Bank, in**
eluding its Hew Orleans Branch, and for the St, Louis Reserve Bank, includ­
ing its Louisville Branch, failed to reach Washington and figures for January
4, had to be repeated. For the other banks the comparative figures given
represent their condition as at close of business on January 4th and llth, . .
<ylaJl^dr
The statement indicates net liquidation of earn^ilg assets of about
14^6- millions, and an almost equal gain in cash reservev\ For the first time
since January 26, 1917 Federal Reserve notes in circulation show a substantial .
decrease for the week. Member banks* reserve deposits show an increase of
^*73 50.0“ millions which is however more than offset by net withdrawals of 70.5millions of Government deposits,
1 3 1~
New York reports an increase of 7,1 millions in reserve. Bills held
by the bank decreased 11,6 millions, while U. S. certificate holdings show a
gain of 36 millions. The banks* net deposits increased 39,9 millions, while
F. R, notes in circulation declined 8,4 millions. For the Chicago Bank an
increase of 12,7 millions in reserve is shown, accompanied by net liquida­
tion of 13.0 millions in total bills, an increase of 3,2 millions in net de­
posits and a reduction of 3.6 millions in Federal Reserve note circulation.
Gains in reserves reported by the Boston, Philadelphia and San Francisco banks
are due to liquidation of bills and to substantial changes of balances in ac­
count with other Federal Reserve Banks, A decrease of 20.6 millions in reserve
reported by the Cleveland Bank goes hand in hand with a decrease of 26.1 mil­
lions in net deposits and an increase of 4,9 millions in outstanding circu­
lation.
N-"V.

'T‘s.% Discounts shewn Dy Tho 10 banks reporting"' for tile two yvyelw

3how a
decrease of^&Q.t millions, partly in Liberty loan paper, all the banks report­
ing smaller holdings than the week before. These decreases are, however, off­
set to a large extent by an increase of 45.2 millions in the total of U, S.
certificates of indebtedness held, the New York and Cleveland banks reporting
large purchases of these securities mainly for the temporary accommodation oftheir members. Acceptances on hand decreased 8,6 millions, the Eastern banks
and Minneapolis reporting considerable net liquidation of this class of paper.
No material changes are shown for other earning assets. Total earning assets
decreased about~~14T5 millions for the week, Of the total, di scount sconaii=^_j>
tute 5bjj ) per cent; acceptances 25,# par cent; U. S. securities 18 . t per cent
°\ and other earning assets, including'warrants and bill of lading drafts, 0,5
per cent,
3
J&yment by newly admitted members for Federal Reserve, stock accounts
for a total increase of $740,000 in capital account. Six Reserve banks • report'
additions to their paid-in capital. Of the total increase shown, $630,000 .
represents the amount paid on capital account by the Fidelity Trust Co. of
Philadelphia* Large withdrawals of Government deposits shown for all report­
ing banks were used chiefly for advances to the Allied Governments, causing’ an
increase for the time being in the members1 reserve account with the New York
Federal Reserve bank.
I
Federal Reserve Agents at 10 reporting banks report an in c r e a s e d —
^ C T ^ O Q O for the week in the total of Reserve notes outstanding, •Fiv^Danks
report reductions in the amount of Reserve notes in circulation. Gains in gold"
coupled with retiresr-ent of Federal Reserve notes account for an increase in .the
ratio of total reserved to combined net depaait and Federal Reserve note lia­
bilities from 64.2 to 6 4 per cent.




1

Eeleased for publication Sunday dom ing, January 13 , I 9IS .
Not earlier.
STATEMENT OF CCMBI1IED EESOURCES MTD LIABILITIES
OF THE TWELVE FEDEEAL EESEEVE BAMS AT CLOSE OF BUSINESS JAMJiEY 11, lylg.

X645a

E E S O U E C E S
Januarv 11. 1Q1PI ,
—
January 4, 1918 Jantu ry 12, I 9I 7
Gold coin and certificates in v a u l t .... . ......................
$ 4 l& t3 9 000
$480,072,000
$292,829,000
Gold Settlement Fund — F. E. Board.• • • *«• • • • ». ♦»• *. • • <
$61*622*000
333, 687>000
206> 5^1,000
Gold with foreign agencies.............................................
52*800*000« . . .
52,500,000
Total gold held by banks.........................................
892!861^000
871,259,000
499,370,000
Gold with ]?<3dQral Reserve A
g
e
n
t
s
784 326 000
*
79 7 , 191,000
274 , 512,000
19.643.000
19.270,000 . _
1,732,000
Gold redemption fund................................................. . ......
Total gold reserves... ........................... ..................
$1,696,830,000
1,637,720,000
775,664,000
Legal tender notes, silver, etc......................................
51.201.000
45,310,000
16,769,000
Total reserves...................................................... .
1.740,031,000
1,733,030,000
7^2,433,000
Bills discounted for Members and F. E. B a n k s ..........
570 665 000
625,313,000
24,355,000
Bills bought in open m rket.............................................
2S8!7lo!oQ0
829,375,000
271.338,000
115,979,000
Total bills on hand........ ........................................
49,506,000
397,151,000
140,334,000
U. S. Government long-term securities............................
137,227,000
51,167,000
41,106,000
U. S. Government short-tera securities.........................
5.068.000
92,053,000
14,357,000
All other earning assets.................................................
1,021,171,000
1
5.167.000
9,359.000
Total earning assets................................... .............
26,229,000
1 .flfl *171|fW>0
1*045,543,000 206,156,000
Due from other F. E. Banks - net.....................................
306.593.000
45,244,000
11,632,000
Uncollected items......................... ............... ............ . . . . .
334.822.000
302,007.000
120,346,000
Total deduction frcan gross deposits.......... ..........
537,000
347,251,000
132,478,000
Redaction fx2nd against F* S« Bank notes*...« •. . * ..
519*000
551*000
kOOtQOO
All other resources................................................... ........
3,105,a80.000
. .537,000
12,26l!000
TOTAL EESOUECES
3,126,393,000
1,143,723,000
L I A B I L I T I E S
71,603,000
Capital paid-in..................................-.............................
1,134,000
70,825,000
55,706,000
Surplus..,.......................................................................
57,856,000
1,134,000
____
Government deposits................... ........ . .................. ........ .
1,498,482,000
131,006,000
27,759,000
Due to members - reserve account... ................. ............ I
203,073,000
.,449,230,000
630,586,000
Collection i t ^ s .................... ........................... .............
20.315.000
192,649,000
111,238,000
Other deposits, including foreign Gov*t. c
r e d
i t s . . 1. 779, 726, 000
20,594,000
Total gross deposits.......................... ............. 1,242,199,000 ■;*,
1,793,479,000
819,533*000
F. R. Uotss in actual circulation..................... ........... .
8,000,000
1,251,205,000
26S,l6S,.000
F» R. Banknotes in circulation, net liability.............
2.418.000
3,000,-000
♦
All other liabilities.............................. ......... ..............
3,105,0^0,000
2,255,000
271,000
TOTAL LIABILITIES
%
3,126,393,000
1,143,725,000
Ratio of gold reserves to net deposit and F. E. note
63,1/1
liabilities combined................ .................................................................................................... 62 . 5$
31.2$
Ratio of total reserves to net deposit and F. E. note
65,1^
•liabilities combined*............... . ..................... ...........................................................................64.2$
S3-0$




!
Released, for publication Sunday morning January 13s 1913.
Hot earlier.
WEEKLY STATBvIEHT OF KESOUBCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BAL'JKS AT CLOSE OF BUSINESS JANUARY 11, 1313(ln thousands of dollars.)
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B O S T O N

d certificates in vault 16,472

* ■» •

29
1 05,921 1 6 0 ,84-1

...
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1,242,199|

8,000
2*41^
3,105,(180

X645c
Iteleased for publication Sunday norc^r.g January 13, 1918.
Not earl?-&r.
STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS JANUARY I I , 1918.
(In thousands of dollars.)
TOTAL'
BOSTON NEW YORK PHILA. Cl,EVE. RICHM. ©ATLAN. CHICAGO 3 ST.LOUIS MINN. KAiTS.CY. DALLAS U N FRAN,
FEDERAL RESERVE NOTES:
8
2,740
68,500
Bb,^40
1
,
8 5 4 ,0 #
105,460
703,480
127,730
133,360
78,100
89,620
338,300
73,660
67,980
Received from Comptroller,
12
393
1
2
.4
9
0
6
.
=
>
79
255.082
20,036
122.688
18.838
9.427
15.710
11.030
7.339
6.457,
10,095
Returned to Ccmptroller,
1,598,970
70,347
56,010
78,501
65,203
57,885
230,961
62,390
78,590
85,424
580,792 108,882 123,933
Chargeable to F.'H. Agent,
230. m
9.000
9.765
5 .3 6 5 ...7.090
42.0203.420 12.570
6.600
109.800 . 9.,760, 15.440
In hands of F. R. Agent,
Issued to F„R, Bank less
amount returned to F. R.
___ ia9*9fl-r-_gg‘ ggg 50 J795.— 61..347 46 ^ 4 5 _ 78..M A -........................................................................... 1 .3 6 8 tM g
Agent lor redemption,
COLLATERAL HELD AS SECURITY
FOR OUTSTANDING NOTES:
Gold coin and certificates
; 264,490
120 13,102
3,603
14,180
33,109
177,277
4,220 18,879
on hand,
4*,31?
1,418
2,467
3,551
2,097
2,090
189
9,775 4,843
5,814
4,315
Gold redemption fund.
477,519
28,903
46,406
7,474
20,500
43,860
129,167
40,000
54,039 35,000
5,000
Gold sfttt? ement fund, F.R. Board
583.821
28.397 J.5.Q 9£
2d3 9AQ afi Q2Q Aft. flOQ 32.492 15.967: $59.385
9 .^ 5
16,397 _ 22.124, 28.604
Eligible paper, minimum retmired36,400

b

1 * 4 7 8

TOTAL
AMOUNT OF ELIGIBLE PAPER DE­
LIVERED TO F. R. AGENT,

36,688

251,519

36,725

48,921

37,320

3

, 2

8

0

16f

L,Nat
188.941
‘"
S’j.-aa

59,838 50,795
wSwJk'M<j.VJW. 61.347
—-

46.245

7 8 .5 6 1 ,

► 60,479

28,844 16,315

16,787

22,198

36,836

608*898

M E M O R A N D A
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION.
F. R. Notes outstanding,
F . R. Notes held by banks,
F. R. Notes in actual cir­
culation,

78,824
3,516

470,992
76.526

99,122 108,493
5,904
2,378

58,970 66,020
5,924 3.170

188,941
,10.743

59,838*
1.784

50,795
1.529,

61,347
4.530

46,245 78,561
1,368,148
172 . 9 . m _ _
U 5 .9 4 9

75,308

394,466

93,218 106,115

53,046 62,850

178,199

58,054

49,266

56,817

46,073

68,787

DISTRIBUTION OF BILLS AND WARRANTS BY MATURITIES
Vithin 15days
Bills discounted and bought,
Municipal warrants




365,957
10

16 to 30 days
89,323
147

31 to 60 days
265,335
636

9 Figures f-&r Janua,ry 4, 191fL

61 to 90 days
98,672

O

v e r

9 0

10,088
335

d a y s

Total
829,375
1,128

1 , 24£,199i

Released for publication Sunday morning January 13, 1918.

Hot earlier,

X645d

STATEMENT FOR THE PRESS
January 12, 1918.
Reports from 640 rcember banks (an against 630 banks heard from the
week before) showing their condition as at close of business on January 4, in­
dicate a total of 11,234 millions of loans and investments and of 10,697 of ag­
gregate net deposits, including Government deposits, the ratio of the former
item to the latter being 105,0 per cent.

Loans and investments of the New

York City banks totaled 4,393 millions, an increase for the week of about 19
millions, while aggregate deposits of these banks are given as 4,363 millions,
or about 13 millions less than the week before.

The ratio of loans and invest­

ments to total deposits of the New York City banks is 100.7, as against 99.8
shown the week before.
Reserve with the Federal Reserve Banks and cash in vault of all re­
porting banks aggregate 1,626 millions, an increase for the week of about 53
millions.

For the New York banks the corresponding figure is 687 millions,

which is 23 millions below the total shown the week before.

The ratio of com­

bined reserve and cash in vault to total net deposits of all reporting banks
is about 15,2 per cent, as against 15.7 per cent for the New York City banks.
Aggregate holdings of U. S. securities are shown as 1,013 millions,
an increase for the week of about 122 millions, while like holdings of the New
York City member banks increased by 72 millions.

Of the total of over 1 billion

of Government securities held by all reporting members less than 275 millions
represents the amount of United States bonds deposited with the Treasurer of
the United States to secure circulation, the remainder being largely Liberty
bonds and U. S. certificates of indebtedness.
As the total of U. S. bonds held by the U. S, Treasurer is slightly
in excess of 700 millions, it is evident that the national banks in the smaller
cities hold over 60 per cent of the circulation bonds.

No inference should be

drawn from the above figures regarding the total amount of Liberty loan securi­
ties held by the banks of the country.

Aggregate loans secured by U. S. securi­

ties are reported as 423 millions, or 35 millions larger than the week before.
About 56 per cent of these loans are reported by the Now York banks, Jhe amount
shown being 42 millions in excess of the total shown the week before,




, I

T

Released for publication Smday morning January 13, l^lS.
Not earlier.
Xb45e
STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER
SELECTED CITIES AS AT CLOSE OF BUSINESS JANUARY 4 , I 9IS .
1. Data for all reporting banks in each district.
_________________________(in thousands of dollars.)_________
PHILA. CLEVE.
ATLANTA CHICAGO ST.LOUISi MINN. KANS.CY. DALLAS SAN FRAN,
HEW YORK
RICH.
BOSTON
MEMBER BANKS
TOTAL
29
40
43
63
13
640
96
45
35
37
69
75
No. reporting banks
35
30,434 113,954 43,329
506,112
30,031 56,645
33,534
75,572
29,623
44,673 10,327 33,795
1,013,779
U. S. Secur. owned
Leans secured by U.S.
2,304
34,890
3,544
1,24S
263,572
423,332
2,607
3,431
5,530
42,533
21,9*2 20,797 11,294
Bonds & Certificates
All other loans and
263,340 1324,186 342,051 133,445 449,573
192,300 469,992 9,797,557
663,403 4,102,273 579,992 900,485 320,517
investments
26,064 132,435
19,036 42,435
62,706 S4 , 147 30,299
1.193,952
33,355 47,723 45,231
609,923
55,533
Reserve with F.R. Bk.
73,447
14,422 24,142
23,213 49,964 21,736
23,631
15,335
432,693
135,192
15,397 15,069 19,995
Cash in vault
Net dscand deposits
on which reserve
206,493 931,751 273.459
0 ,6 81 373.676
535,330 4,231,309 551,599 634,471 250,130
3 , 66o , 256
194,560 359,747
is computed
202,364
329,441
67,652
54,720
44,092
60
,
6
l
0
13,326
1
, 460,927
24
,056
33,353
157.466
75,753
329,539
Time deposits
60,727
3,470
15,017
243,533
2,290
40,127
16,609
73,723
11,250
41,077
33,205
14,335
575,923
G o v ^ . deposits_______

2. Data for b-nks in each Central Reserve city, banks in all -ther Reserve cities .±nd other reporting banks,
TOTAL
HEW YORK
CHICAGO ST.LOUIS CENTRAL RESERVE CITIES OTHER RESERVE CITIES
COUNTRY BANKS
TOTAL
Jan.4 ,1 3 —-Dec.22,17 Dec*23
Jan. 4,13—•Dec. 23 ,17
Dec.23
Jail. 4,13—•Dec ,23,17 Ja n .4 , 1<^“—Dec.23,17 J<^n.4,12--Dec.23,17
14
107
No. reporting banks
640
140
56:
146
56
393
. 3.07
377
390,479
U.S. Secur. owned
34,446
95,305
391,626
106,776
359,533
436,223
1013,779
Loans secured by U .S.
24,305
Bonds & Certificates
333
231,934
22,996
423,332
131,529
7,333
All other loans and
investments
3636,579 3j s i , ;4 t
352,753
4737,169 4650,749
,
4,169,519
9797.557 9574,047.
630,571 753.779
Reserve with F.R. Bk.
592,340
96,463
693,540
571,354
399,942
!
416
30,713
73,333
1193,952
Cash in vault
46, 4*+4
9 1330
221,030
,
. 113,057
172,371
201,735
169,979
33,747
40,975
Net demand deposits
on which reserve
6917793
4744
3350,703 3792,664
549,242 576,793
3470 ,
3.366,447 3,353,950
is computed
4539,535
272,716
466,702
317,120
135,312
176,666
53,237
474,053
673,576
Time deposits
169,754
227,279
244,934
26,029
310,196
200,397
53,631
Gov’ t, deposits
35,150
591,573
364/65?
9,929
295,339
575,923




462,200
245,169 203,221

11

22,066

21,109

512,712
273,611

247,332

712,117

116 5^7

235,443

202,066

,567

335,-291
127,225
4 319,317
,529

630

,260

49,764

1161,323
432,693 412,739

233
3660,256
1460,927 1321,944