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X-837 Released for publication Sunday morning March 24, 1918. 3TATMENT FOR THE PRESS. Net earlier. March 23, 1918 Gains ef 56.2 millions in earning ste/, of over 41 iailli®ns in net de posits and of about 10 millions in total reserves ai e ii.cieated by the Fed eral Reserve Board's weekly bank statement sWwii-t •■Ikj coauition of the Federal Reserve Banks'as at close of business Mai ch , 1918. At the New YOrk bank an increase of about 30 millions in reserve is ac companied by increases of 42.6 millions in net deposits, 21.2 millions in earning assets, largely U .S . certificates of indebtedness, and about 8 millions in note circulation. Increases in reserves at the Boston and San1 Francisco banks are due largely to gains in net deposits also to additional note issues and in the case of San Francisco to liquidation of bills on hand. Reductions in reserves shown for the Chicago, Minneapolis, Kansas City, Rich mond and Atlanta banks go hand in hand wi^n^iMiistrrlSnts, largely bills,and with decreases in net deposits. Discounts on hand increased 25.6 millions, all the banks except Minneapolis aiid San Francisco showing larger holdings than the week before. Of the total, 279.8 millions as against 254.6 iriilions the week before, represent the amount of paper secured by G-overament war obligations. Holdings of acceptances went up 5.6 millions and those of Government short-term securities, largely certificates of indebtedness, about 32 millions. U .S . bonds on hand fell off\7.3 millions, the New York and Chicago banks reporting sales in some voluiig of Liberty bonds. Total earning Assets increased 55.2 millions and con®itute at present 77.2 per cent of net deposits as against 75.6 per cent the tffeek before. Payment for Federal Reserve bank stock by newly admitted members accounts for ah increase of* $125,000 in the banks paid-in capital. Members' reserve deposits increased kboiit 32 millions, whi&e Government deposits went up 19.5 millions. Federal Reservfe Agents report a total of 1558.7 millions net of notes issued to the banks,, an increase for the week of 38.4 millions. The banks show a total outstanding F.R. note circulation of 1,429.5 millions, all the banks except Atlanta and Dallas reporting substantial additions to their out standing note circulation during the week* CONDITION OF MEMBER BANKS ON MARCH 15. Principal changes for the week ending March 15 in the condition of 681 reporting member banks are shown as follows: Certificates of indebtedness indicate^iet liquidation of 13.1 millions, U.S. bonds other than those securing circulation show a decrease of 4.7 millions, while total loans and investments fell off about 5 .4 millions. For the oanks in the three central reserve cities corresponding changes involve decreases of 6 millions in certificates of indebtedness, of 1.8 millions in U.S. bonds, and of 23.8 millions in total loans and investments. Net demand deposits went up 20.1 millions, time deposits decreased 3.2 millions and Government deposits decreased 278.3 millions. At the central reserve city banks, corresponding changes include increases of 63.3 millions in demand deposits and of 2.9 millions in time deposits as against a decrease of 224.7 millions in Government deposits. Aggregate reserves with the Federal Reserve Banks fell off 12.7 millions, and.cash in vault - 3.6 millions, Central Reserve city banks showing corresponding decreases of 8 and 2,5 millions. Excess reserves of all reporting banks declined from 98.2 to 72 millions, the decrease for the banks in central reserve cities being from 55.9 to 39.5 mill ions* r, ^ . large Because of withdrawals of Government deposits the ratio of loans and investments to total deposits of all reporting bapks shows, an increase from 106.6 to 108.1 per cent and for central reserve city • banks - from 102,1 t?\ 104.4 per cent. The ratio of combined reservesand cash to deposits of all re porting banks remains unchanged at 13.7 per cent. For the banks in central reserve cities this ratio shows an increase from 14.6 to 14.9 per ceut. X837a Not earlier Released, for publication Sunday morning March 24, 1918 y > 19U BUSINESS MARCH 22, STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE Tl /ELVE FEDERAL RESERVE BANKS AT CLOSE OF March 23, 1917 March 15, 1918 R E S O U R C E S March 22, 1918 3 5 0 .7 3 6 .0 0 0 4 77.52 1 .0 0 0 Gold coin and certificates in v a u l t . . . . ; ......... » 470,5^9,000 2 0 9 .28 1 .0 0 0 3 7 2 .5 0 8 .000 Gold Settlement Fund - F. R. B o a r d ..................... 379,866,000 52.500.000 Gold with foreign agencies .................................... tt^ * ^9^1 560.01 7 .0 0 0 9 0 2 ,5 2 9 ,00G 8 7 ^ 8 0 5 'o a o TOTAL gold held by teaks .............................. 34 9 .5 1 9 .0 0 0 8 6 9.628.000 Gold with Federal Reserve Agents ........................... ?i a^<JU 2 .5 1 9 .0 0 0 <*1.086.000 Gold Redemption F u n d ............................................... — a »,.114;>000 9 1 2 .0 5 5 .0 0 0 1 .7 9 3 .2 4 3 .0 0 0 1 .8 0 2 .8 1 4 .0 0 0 TOTAL Gold reserve3............. ............................ 1 0 .6 6 5 .0 0 0 58 .9 50 .0 0 0 59 . 558.000 Legal tender notes, silver, e t c . , ......................... 9 2 2 .7 2 0 .0 0 0 1 .8 5 2 .1 9 3 .0 0 0 1 .8 6 2 .3 7 2 .0 0 0 TOTAL reserves -............................................... 1 8 .4 7 3 .0 0 0 517.464.000 543,119,000 B ills discounted for mjmbers and F .R . Banks . . . 8 7 .7 9 8 .0 0 0 323.248.000 n . - . 328.880.. 000 Bills bought m open ciaricet ................................... *.... * 1 1 0 6 .2 7 1 .0 0 0 8 4 0 .7 3 2 .0 0 0 87 1.99 9 .0 0 0 TOTAL bills on hand ........................................ 2 9 .2 7 5 .0 0 0 6 8 ,3 8 3 ,0 0 0 61 ,0 39 ,0 0 0 U. S. Government long-term securities ............... 1 8 .8 1 8 .0 0 0 1 9 3 .9 8 0 .0 0 0 2 2 6.036.000 U. S. Government short-term securities . ............ 1 5 .8 7 1 .0 00 ■*. 040.000 4 .2 4 0 .0 0 0 A ll other earning assets ....................................... 1 7 0 .2 3 5 .0 00 * ,1 0 7 ,1 3 5 ,0 0 0 1 ,1 6 3 ,3 1 4 ,0 0 0 TOTAL earning assets .................................. 3 .2 9 8.00 0 1 1 ,6 09 ,0 0 0 8 ,8 0 1 ,0 0 0 Due from other F. IL Banks - net ..................... 1 4 5 .7 5 7 .0 0 0 357.147.000 367.821.000 Uncollected items ....................... * ............................ » 1 4 9 .0 5 5 .0 0 0 368,75 6 ,0 0 0 376,622,000 Total decfciationsfra-i gross deposits . . . . 4 0 0 ,GOO 537,000 537,000 5/j Redemption Fund against _F,R*Bank notes . 5 .5 7 0 .0 0 0 1 .4 5 2 .0 0 0 _______ 550.000 All other resources ............................................. 1 .2 4 7 .9 8 0 .0 0 0 3 ,3 3 0 ,0 7 3 ,0 0 0 3 ,4 0 3 ,3 9 5 ,0 0 0 TOTAL RESOURCES ............. .............................. L I A B I L I T I E S 5 6 .057.000 7 3 ,8 86 ,0 0 0 7 4 ,0 1 1 ,0 0 0 Capital paid in ..................................................... m m • 1 .1 3 4 .0 0 0 1 ,1 3 4 ,0 0 0 Suiplus ........................................ ........................... 91 505 000 1 9 .7 0 2 .0 0 0 f/\ 7 2 ,0 2 3 ,G 0 0 Government deposits .................................................. 711.117.000 1,44*799-7,000 1 ,4 8 0 ,0 2 5 ,0 0 0 Due to members - reserve account . 1 1 3 .7 8 4 .0 0 0 23 2, £67,000 n 4-•+. „ 229,115,000 Collection items ....................................................... ai 7*1 000 8 1 ,048L000 Other deposits, including foreign Gov't credits -- - >■ » 8 4 4 .1 0 3 .0 0 0 1 .8 3 3 .2 7 5 .0 0 0 1 .8 8 2 .3 9 6 .0 0 0 TOTAL gross d e p o s it s ............................. ......... 3 4 6 .8 0 4 .0 0 0 1 .4 0 6 .2 2 8 .0 0 0 1 .4 2 9 .5 0 9 .0 0 0 F. R. Notes in actual circulation ....................... *• * 8 ,0 0 0 ,0 0 0 7 .9 7 8 .0 0 0 F. R. Bank notes in circulation, net liability. _______ 516.000 7 .5 5 0 .0 0 0 8 .3 6 7 .0 0 0 All other lia b ilitie s .............................................. 1 .2 4 7 .9 8 0 .0 0 0 3 .3 3 0 .0 7 3 .0 0 0 3 ,4 0 3,39 5,000 TOTAL LIABILITIES .............................-............. Ratio of gold reserves to net deposit and F.R. 8 7 .5 $ 6 2 .5 $ 6 1 .4 $ note lia b ilit ie s combined .................................. Ratio oftotal reserves to net deposit and note 8 8 .5 $ 6 4 .5 $ 6 3 .4 $ lia b ilit ie s combined ............ . . . . . . . ................... 4 _ r ----- r --j ^ ,----------J Released for publication Sianday morning inarch 24, 1918 Not earlier. WEEKLY STATE:502ff OF EESOUECES AMD LIABILITIES .OF EACH OF THE FEDEEAL RESERVE (In thousands of dollars.) R E S O U R C E S Boston N. YPhila* Clevel, Richmv Atlanta Gold coin and certificates in vault 10,370 , . Gold Settlement Fund/l\R. Board ^5>7S2 47,824 51*432 44,980 19,046 12,599 Gold .with* foreign agencies J. O, i.JLC *+, ( O . Total gold held by banks' 59,827 390,933 64,486 76,132 27,343 20,721 48 ,502 208,514 Gold with Federal Reserve Agents 77,396 94,978 29,429 41,893 890 2,000 1,394 10,000 Gold redemption fund 331 3H 110,323 ' 609,447 .143,882 171,421 57,103 63,504 Total gold reserves 40,644 1,052 1,050 Legal tender notes, silver, etc. 383 1,731 .... 4,3.23. 114,706 650,091 1.44,934 172,471 57,486 65,295 Total reserves 56,829 2497280 29,265 31,682 31,230 12,119 B ills dis* for members & F,R,3ahks 18,172 .22,351 8,625 7,470 11.475 179,905 Bills bought in open market 68,304 429,185 47, 43.7 54,033 33,915 13,589 Total bills on hand 1,620 4,183 5,467 7,788 1,233 U.S-Gtn^t long-term* securities 895 2,249 155,832 8,056 17,967 1,994 4,445 U-S.Gov’ t short term securities * ••» «• « ♦• * A ll other earning assets ' .33.7.. ,63 7 60,960 73,788 43,142 28,554 . 71,448 536Total earning assets 1,841 2,640 4,700 Due froi-i other F.R,Banks - net3,433 769 79,506 Uncollected items 20,065 38,359 29,089 27,627 19,740 Total deduct .from .gross deposits 21,90 d . 79,306 40,999 . 32,522 28,396 24,440 5i<> Redeinp.furid against F-R*33k.note; 82 ..........27.. 341 All other resources 208,060 1316,034 247,234 284,721 ,129,106 118,386 TOTAL RESOURCES 324,997 L I A B I L I T I E S Capital paid-in Surplus Government deposits • Due to members reserve acco'unt Collection items Due to other F.R.Banks - net Other depos. incl .for.Gov11 . credits Total gross deposits F*R.Notes in actual circulation F.R.Ek*notes in circuL. net lia b . All other lia b ilit ie s TOTH LIABILITIES 19.720 6,351 75 5,728 87,247 649 349 649,186 17,015 54,295 40,739 ...16J3_1„ 9,379 26,427 8,363 6,864 8,974 11,487 91,306 113,055 31,175 22,529 207 131,455 147 , 27s 109,990 820,900 90,844 469,752 108,915 123,566 »* . * 6,460 3,756 116 4,111 42,501 20,283 A+* 6 547 2,943 4o 6,696 38,954 11,734 **• 13 57,3 97 66,835 58,339 58,006 %»* * *■• * %* 800 • ** 5^0l3__ 574 202,ObO 13167034 247,234 284,731 129,106 11S,3S6 ................. . . T V .... - y RANKS AT CLOSE OF BUSINESS MARCH 22, 1918. Chicago St.Louis Minn, 28,708 3 ,3 2 4 15,9 88 59,685 33,170 4 ,1 1 4 1 95,743 162,305 1.130 259,738 5,456 265,194 34,177 27,025 61,202 13,533 20,477 672 101,884 16 ,546 64 ,594 S I ,140 <£., 1UU ^8,594 41,077 46,652 1,322 947 81,059 69,201 612 1,471 82, 530 24,212 2,208 33,026 2,233 1,444 520 37,223 4,947. 1 7 ,SIS 22,765 Kans,Cy« Dallas San.Fran, . Total 26? 9 ,1 2 0 2 8 ,9 4 2 3 0 ,7 6 4 11,437 19,033 3 7 9 ,8 6 6 470,529 C, iUU 22,202 70,413 5.239 3,611 2,850 33 , 6.56 55,446 87s 89,3S0 74 30,054 24,070 1,130 45,510 21,114 55 101,046 1802,814 2,252 584 59,558 47,768 101,430 1862,372 13,806 30,544 543,119 6,150 6,417 29,471 328 , SSO 30,220 20,223 60,015 871,939 2,468 8 , 862 3,370 61,039 2,323 1,867 226,036 4,037 24 1,826 ......173 4,240 2,787 4,739 6SS 17,064 43,143 5,811 6,546 13,295 ... 29,354 35,300 i 9 ,io 6 400 28,948 734 17. >635 18,423 137 169,497 95,222 3,466 2,736 3,450 4k* * 2,823 25,731 s,o46 53,499 14 ,291 38 6,391 39,895 4 , 19s • ** 2,620 227,122 37 75,873 6 50,490 216 12,885 185,946 ♦• « 210,776 62,770 53,225 ♦* ♦ 748 409 / ’ k . 448,218 142,513 106, 583 * Difference bet wean ne c cu^oun'biv aue from anci. net uu,loua oa 10 000 ->c.,3UU 50,363 902,895 50, 12s 878,805 A,OJO •22,335 21,385 44S,218 142,518 106,583 9,296 7 A-^ D 8,788 70,541 10,852 13 30,200 67,271 7,978 598 169,497 64,523 1163,314 1,573 * 8,801 10,379 3 6 7 ,S21 12 , h52 376,622 * + 537 ..... 30 . _ 550 178,435 3403,395 4,243 74,011 1,134 7,129 10,321 91,505 69,453 1480,025 11,015 229,115 38,44-2 5,997 m* » ♦* * 51, 56s »*• 81,751 93,307 1882,396 40,760 80,285 1429,509 4« 7*978 ■131 . 8,367 95,282 178743 5 3 403 '39 5 - OGxiejc Faaer^l Reserve Bd.nl;s 2,518 f X-SjJc Released, for publication. Sunday morning, iikxrch. 2k, l'JIS. Not Earlier. STA.HE.tENT OF FEDERAL BESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS MARCH 2 ^ 1918. (In thousands of dollars) Boston New York Phila. FEDERAL RESERVE NOTES Clevel. Minn. Kans.Cy. Dallas San Fran, Richm. Atlanta Chicago St.Louis Received from controller Returned to Cocptroller 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 126,440 23 , 858 102,582 9,080 789,080 146,226 642,854 102,000 153,600 25,644 127,956 8,640 159,700 12,1 42 147,558 12,680 87,740 , 64i 17,757 69,983 - 75,979 5,455 93,502 540,854 119,316 134,87s 64 ,528 89,620 13 17,005 276,580 1 0 ,9 40 265,640 44,100 5Srf? 4 221,540 8 ,4 6 0 63,500 1 4,180 54,320 13,355 2100,160 Ft, ItS 309,705 92,512 1790,455 231,750 40,925 92,512 9 4 ,7 40 1 4 ,66l 72,799 6,840 69,980 11,787 58,193 4 ,095 65,959 54,098 71,619 13,102 2,050 3 ,0 8 6 16 2,43 4 58,735 221,540 • 2 ,i 6 4 38,913 24,882 65,959 31,5 00 7 ,4 4 6 54,092 6 0 ,4 38 30,4 62 8,259 83,500 10,701 Total 30,079 1558,705 COLLATERAL HELD AS SECURITY FOR OUTSTANDING NOTES: Gold coin and certif» on hand Gold redemption fund Gold settlement fund F.R.Boara Eligible paper, minimum require Total *** 32,109 191,154 18,209 * <*» 2,504 12,360 5,777 6,769 429 2,669 4,893 11, 500 5,000 71,619 70,000 29,000 36,7 20 45,000 332,340 4 l , 920 3 9 ,9 00 35,099 17,081 9 3 , 502 540,854 119,316 134,878 64 ,528 58,974 AMOUNT OF ELIGIBLE PAPER DE LIVERED TO F, R. AGENT 6 6 ,3 04 429,185 42,003 54,033 ~4 'FEDERAL F. R. Notes outstanding F. R. Notes held by banks F. R. Notes in actual cir culation ,354 71,102 93,502 "2 ,6 5 8 540 90,8 44 469,752 119,316 10,401 RESERVE 134,878 6,312 108,915 1 2 3 ,566 1 7 ,6 46 39,297 m* 371 5 2 221 Bills discounted and bought U. S. Gov’ t, short term sect Municipal warrants ss 15 days 345,123 is , si 55 66 16 to 30 days 126,263 2,787 13 27 1,65 8 52,360 16,173 71,619 42,384 679,900 9 2 ,5 12 1558 ,7 0 5 29,180 20,223 .£3,644 4.232 47,021 45,896 560,126 3 5 2,67 4 MEM-ORANDA NOTES 52 OUTSTANDING 64, s 6,189 58,974 58,339 58,006 968 AND 221,540 1 0 ,7 6 4 IN ACTUAL 65,959 3.1S9 210,776 62,770 CIRCULATION 54, 09s 873 7 1,619 4 ,3 4 8 ’ 40,925 165 53,225 67,271 40,760 DISTRIBUTION OF BILLS, U. S. GOV* T. SHORT TIIRM SECURITIES AND WARRANTS BY MATURITIES Within *■ **• 1 4 , SO . 3 ,1 8 4 18,940 40,925 31 to 60 days 249, 549 6, ■271 3 6l to 90 days 142,660 2,901 469 Ovdr 90 ouys 8 ,4 0 4 27,3 96 1 Total 871,999 2 2 6,036 541 92,512 1553 ,7 0 5 12,227 129,196 S O ,285 1429,509 Released for publication Sunday morning March 24, 191S. Not earlier X-Sjjjd. STATEI/IENT SH0T7IHG PRINCIPAL RESOURCE AMD LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, EESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS MARCH , I IS . ______ 1. Data for all reporting banks in each district. (In thousands of dollars.) ____________________ Member Banks Boston Hew York Phila. Cleve. Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San*Fran* Total Rich. No.reporting b a n k s ... 5S bol IS 41 46 32 47 3S 65 U.S.Bonds to sec.circ. 14,6 22 12,981 . 42,342 23,775 , s 17,569 17,369 Other U.S.Bonds in c l. Liberty bonds 11,082 37,2 62 19,756 , s 14,953 11,395 ,242 36,178 46,198 12,o6S 1 4 ,8 0 4 U .S .C e r t if.o f indebt. i s ,493 52,34s 24,121 999,806 , s 10,548 25,089 60,241 125,802 56,399 43,160 Total U .S. securities 44,014 38,2 4s 75,341 1 ,6 3 5 ,5 8 4 52,885 Loans secured by U .S. bonds etc. 22,098 13.7S6 2 ,6 s 6 3 ,0 4 2 31,1 36 26,293 All other loans and investments 4,-p3 5 596,346 914,466 341,155 292,336 1 ,3 5 8 ,5 3 7 382,800 243,783 ,746 722,943 184,098 9 ,9 8 4 ,7 1 8 Reserve with F.R.bank 61,305 J ,2 8 b 58 , 05s 81, 060 28 , 87I 26,014 144,465 3 5 , 9 H 1 9 ,9 ^6 is, 632 45,595 1 ,1 5 2 ,2 0 8 Cash in vault 22,650 &3.S47 12,793 12,202 20,201 119,923 19,659 3 4 ,1 0 6 15,570 14,31S 8,987 360,525 Net derrand deposits 605,882 4,29l4-, 804 , s 699,445 268,095 215,921 1,049,607 287,492 189,161 404,872 160,930 365,730 9 , 118,207 Ticie depcsits 293,630 15.225 211,635 48,200 80,218 80,202 77,224 51,460 22,116 105,491 , 355.7S1 Government deposits 273,318 0 13,800 518,545 39,914 9,972 37,055 29,257 9 ,H 9 12,195 1^,577 5i,3«5 22,953 15 9 10,899 39 15,150 13,206 50,201 173,800 723 952,243 163,880 58 94 19,567 39,935 111,850 20,179 ,493 576 26 2, 34 69 5,932 13 93 35,299 3,315 11 29 10,132 13,159 22 75 27,^6 47,994 4,809 8,722 2,724 3,290 456,015 476 45,067 16,269 51,310 263,745 367,033 302,705 1 392,492 Data for backs in each Central Reserve City, banks in all other Reserve Cities and other reporting banks New York Chicago St.Louis Total Cen .Res.Cities March l y — March 8 March 15 March 15 March 15—— I,larch 8 No. reporting banks 58 58 U*S.bonds to sec*eirc. 35,287 35,563 Other U,S*bonds incl. Liberty Bonds 160,975 162,955 711,185 U «S.certif. of indebt. ,5^9 Total U*S* securities 902,851 909,703 Loans secured by U .S . bonds, etc- . 140,610 155,326 A ll other loans and investEients >5^3, 3,584,334 Reserve with F*R„ bank 550,365 Cash in vault 104,713 , s Net demnd deposits 3*902,899 3 ,8 5 9 ,4 3 9 Tir^e deposits 244,485 G-ove mCient dep s it s 471,704 706 3 566 40 1,393 247,245 266,559 10,369 112 47,049 112 47,325 420 173,270 ' 420 173,257 153,001 156, 7^2 149 48,426 6,980 181,938 13,983 30,292 18,822 ■ 755,703 45, 66s 36,171 984,690 183,717 761,705 217,401 992,7^7 543,672 32,094 224,169 26,702 55^,16S 107,177 12,942 180,647 121,640 126,486 7,117 160,669 20,396 150 8 Total iSarch 15-iviarch 8 6si 268,745 682 270, 05s 367,033 999,806 107,779 1,635,584 371,700 1 , 012,936 1 , 654,694 49,476 31,241 27,062 21,001 302,705 328,134 819.651 273,472 4, 676,689 4,682,651 4 , 564,246 4 , 531,016 7^3..733 731,877 9,984,718 9, 945,544 560,675 100, 49s 106 05 332,191 0 14 Eeserve Cities Country Banks March 15i—March S> March 15— ivk-rch 27,155 678, 01s 686,028 7,427 150,331 152,879 701,131 205,045 4, 809,075 4 ,7 4 5 ,7 3 1 443,196 440,310 138,708 57,243 324, 678 549,343 38,600 19,519 425,055 429,253 49,135 222,659 26,089 31,300 179,257 3 ,7 2 1 ,3 7 7 3 ,6 6 0 ,1 9 7 587,755 797,151 7 9 5,87 5 152,145 167,778 178,894 49,609 1 , 152, 20s 1,164,890 32 , 03s 360,525 364,174 5 9 2,16 4 9 , 118,207 8, 998,092 159,482 1 ,3 9 2 ,4 9 2 1,395,667 24,853 7 9 6,855 518,545
@FedFRASER