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Released for publication Sunday morning March 31, 1916. Not? earlier. STATBM3NT FOR TEE PRSSS. Increases of 12.9 millions in combined gold reserves, 3 8 .3 millions in earn ing assets, 2 9 .6 millions in net deposits and 23.3 millions in circulation are shown in the Federal Reserve Board’ s weekly bank statement as at close of business on March <c8-29, 1918. The Banks at Philadelphia and Minneapolis as well as the branches at Baltimore and Few Orleans observed last Friday as a legal holiday and their weekly statements are given as at close of business the day before. l-ew York reports a gain of 34.2 millions in reserves, accompanied by decrease© of 35.7 millions in earning assets, and of 9 .4 millions in net deposits and a gain of 7.9 millions in outstanding circulation. Gains in reserves reported by the Boston and Philadelphia banks may be traced largely to increased deposits and ad ditional note issues. All other banks, except at Atlanta, show reduced reserves largely as the result of increased investments and the transfer of funds to Eastern centers in connection with Government financing operations. Discounts on hand increased 4 0 .1 millions, while acceptances show a decrease 2 4 .8 millions. Of the total discounts held, 30 1.4 millions, as against 283 millions the week before, is represented by war loan paper. Host of the short-term securities held are certificates of indebtedness taken for the temporary accomoda tion of member banks. Other earning assets, including Government bonds show a decrease of about 3 .5 millions. Admission to membership of Trust Companies and State Banks, largely in the Chicago and San Francisco districts, accounts for an increase paid-in capital. Gains of 1 2 .6 and 19.4 millions are shown for Government and members' reserve deposits. Federal Reserve Agents report an addition for the week of 5 .3 millions to the total of Federal Reserve notes issued. 1564 of $212,000 in Against the total of millions of notes outstanding they hold at present 852.2 millions of gold and 863 millions of paper. The banks show a total Federal Reserve note circulation of 1452.6 millions, all the banks except Atlanta and Dallas reporting larger circulation f i0u.i*6s tiiicjti th.6 wG8k iDGforo# Released for publication Sunday morning March 31> 191S Not earlier. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE R E S O U R C E S March 2g and-29,1912 Gold coin and certificates in vault.................... , ^ 470. 529.000 Gold settlement fund - F. R. Board .......................... 379 ,s 66 ,ooo 399, 56s (ooo Gold with foreign agencies . . .................................. 52. 500.000 52. 500.000 91+2 , 016,000 902. 395.000 TOTAL gold by banks......... ................... ............... Gold with Federal Reserve Agents ........... . . — . . . . . 352,192 000 373. 305.000 21.114.000 Gold redemption fund....................................................... . TOTAL gold reserves...........................-............ . . . 1 . 815. 704.000 Legal tender notes* silver, etc ................................ . 53-359,000 1.374.063.000 TOTAL r e s e r v e s . . . . . . ......................................... 543. 119.000 B ills discounted for members and F.R. Banks.. . . . . . 533, 22s , 000 B ills bot^ht in open market.................................... . .. * 323.330.000 304, 065,000 337.293.000 TOTAL bills on h a n d ........................................ ...... U. S. Government long-tern* securities . . . . . . . . — . 53,190,000 252.579.000 U„ S* Government short-tei'm securities A ll other earning assets .......................................... .. 3,523,000 1,201,535,000 TOTAL earning assets * ................................ 8,301,000 Due from other F, R* Banks,- net ................... , 367,321,000 Uncollected items ....................... .................................. , 366, 075,00 0 Total deductions from gross deposits . . -- ... 537.0PQ 5$ Redemption Fund against F. R. bank notes 3.724.000 All other resources ........................................ . 3,445,934,000 TOTAL RESOURCES.................................................... L I A B I L I T I E S Capital paid in ............................................ ................. 74, 223,000 Surplus . . . . ........................................................ . ....... 1.134.000 91, 505,000 Government deposits ..................... . — .... io4,os 6,000 1,430,025,000 Due to members - reserve account ........ ..................... 1 , 499, 400,000 229, 115,000 216, 397,000 Collection items ............................. ..................... . 81,751,000 Other deposits, including foreign Govt, credits.. _ 81,059,000 1.901.442.000 Total gross deposits ................... ....................... 1.452.333.000 F. R. notes in actual c ir c u l a t io n ............................ 7.978.000 F*R. Bank notes in circulation* net l i a b i l i t y . .... 3.369.000 A ll other lia b ilities ................................... ............. 3 . 445. 934.000 TOTAL LIABILITIES .................................................. Ratio of gold reserves to net deposit and F.R. 60.3$ note lid b iliti^s combined ..................... ................. Ifetio of total reserves to net deposit ana note (Liabilities com bined................................................ 62. 7$ 489 9 8,000 21 496.000 26 945,000 339 130,000 X-S52a OF BUSINESS MABCH 23 aad 29, 1913 March 22, 1918 torch 30 , 1917 374.903.000 200. 061.000 574.964.000 360. 668.000 2.414.000 1.302.814.000 59,558,000 1.362.372.000 933. 046.000 9.232.000 947.323.000 20 ,1 06 ,0 0 0 371.999.000 61, 039,000 2 2 6 .03 6 .0 0 0 4,240,000 1 ,163 ,31^,000 376, 622,000 537,000 _______ 550,000 3,^03,395,000 74 , 011,000 1 , 134,000 1 . 882. 396.000 1 . 429. 509.000 7 . 978.000 8. 367.000 3.403.395.000 34.473.000 104.579.000 29 . 275.000 13.425.000 15.840.000 168. 119.000 2 . 275.000 132.759.000 135.034.000 400,000 5 . 268.000 1,256,149,000 56. 075.000 20, 567,000 720. 411.000 100. 961.000 541.939.000 357. 610.000 525,000 1 , 256, 149,000 6 i .4 $ 3 8 .1 $ 63*4$ 8 9 .0fo Released for publication Sunday morning, March 31, lgig Hot earlier. X-852b WEEKLY STATEr/IENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 28-29, 1918 (in thousands of dollars) R E S O U R C E S Boston N, Y. Phila. Clevel. Richm. Atlanta- Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Gold coin and certificates in vault 10,914 337,572 9:543 , lO 6,5 8 5 '24 586 3 ,2 2 2 15,877 149 2 ,9 3 6 489,948 Gold Settlement Fund F. R, Board , 81,467 50,$85 3 7 ,6 2 8 16 ,2 42 53,937 25,486 9,8 5 5 2 5,366 11,749 16,570 39 9,56 8 Gold witn xoreign agencies J_dlL5— 18*112____ 3> 4 /7 25 __ 1 ,8 37 1 ,5 7 5____ 7,350 2,1 0 0 2,100 2 ,6 2 5 1 ,8 3 8 2,8 8 8 5 2 ,5 00 Total gold held by banks 65,107 437-151 64,203 ?4 23,925 90,873 3 4,808 27,83 2 2 8 ,l4 0 22,523 48,185 9 4 2 ,0l£ Gold with Federal Reserve Agents 48,453 196.319 79,751 8 8,680 2 9,37^ 3 9 ,4 9 5 165,223 41,047 3 9 ,5 3 6 5 5,384 8 5 2,192 Gold redemption fund __ 2 , 0 0 0 2-.000 246 308 1,111 1,2 8 5 1,380 1 ,0 3 0_______ 871 1 ,2 0 2 _______ 2 1 ,4 9 6 Total gold reserves 115,560 643,470 145,954 163,889 53.9-SS 64,531 257,381 , s 84,395 4 1 ,0 8 8 99,815 1815,704 Legal tender notes, silver, etc. , 40,g62 , s 924______391 1 .9 5 4 _____4,464 ..1,57 5 610 81 £.361 392 58.359 Total reserves 118.-737 684,332 14 164.813 6 6 ; 4S5 261,845 84.476 B ills , dis. for nsnbers & F,R.Banks 59,7lil 2^7,917 31,419 39 ,2 25 36,481 13,707 37,83 7 3 2,067 32J38 18,36s 28,855 583,228 B ills bought in open market J±G .887 2 2 ,440 b ,914___ 9,588.. 1 M ] 2 7..655 8,537 1 1,122 13,806 5,480 27,473 304,065 Total bills on hand 7 2 ,4 8 / 378-804 53.859 46,069 2 1,124 4 0 .6 0 4 ' "46,144" 2 3 ,8 48 , ' U. S. Gov't long-term securities 855 1,618 5,539 7 ,7 8 8 1,233 3 ,2 8 4 17,532 2,233 2,808 8 ,8 6 2 3 ,9 7 0 2,46S 58,1 90 U. S. Gov!t short-term securities 2,459 170f493 18,293 1,9 9 4 4,670 1 ,4 4 4 4 ,3 1 6 4 ,1 9 4 3 ,1 2 4 1 ,9 2 4 252,579 All other earning assets .... ................... ...........__________ 699 1 43 589 37 1 ,7 3 6 154 ' ,523 Total earning assets 75,801 550,915 66,899 9 2 ,2 2 0 29,243 115,890 44 ,4 24 2 4 ,1 0 8 59,237 60,874 1201,585 Due from other F. R. Banks - net 4,054 ... 4 S239 3 ,4 6 l 8,441 ... 1,1 6 0 6 ,2 9 4 ... 3 - 4 6 0 * 2 6 ,9 4 5 Uncollected items 7 1 ,383___ 41,010 J 29,330 1 9 , 539 1 8,230 1 3,766 20.496 19,496 11',991 339,130 Total deduct.from gross deposits 19,188 75,437 41,010 19,537 3 3 ,5 ^9 23,000 1 4,926 ST, 790 19 ,4 96 15,451 5$ Rede,p.fund against F.R.Bk.notes ..................... .................................................................................................. 400 ... A ll other resources ... ... ... ... 83 ... 2,063 TOTAL RESOURCES ---- ---^ —* = 137,244 " 118,811 442,782 ~---------1310,684 143,527 108,042 255,737 276,570 50 51.8 6/0 32 6 6,227 74,963 :306 10,000 3 3.77 12 1 56 /,522 130 54.379 2 66,139 7,501 1,310 17,878 132 19 -105 165 49,296 TOTAL LIABILITIES 1 6,351 75 7,549 91,216 14,903 V * • •• 1 9 ,7 H 649 5,946 668,218 57,650 CO* 8,363 0 16,996 13,269 83,642 106,850 6,873 • # * 3 2 ; 543 1,421 * ♦* • • 1 5 ,8 04 t* • 208 3,761 2,943 9,431 40 116 216 6,066 8,856 11,002 45,154 39,060 187,288 20,484 10,981 20,2 9 4 • 4* • «i * 71,704 % * • . » • 2,037 843 5,137 597 ......... 7.1 213,726 1310,684 255,737 276,570 137,244 118,811 744 113,668 92,789 *> ♦ • 7 i ,J Z i 807,589 477,598 • • * 58,900 220,621 134,602 136,131 114,262 131,479 61,592 56, 92s 211,770 m m 9 » * » • * » * • * « — 43,449 100,207 1874,063 56,328 887 293 3 32,678 3 * 17,363 51,567 63 77,235 68 39 78,810 69,008 5,273 65,492 16,395 32,167 56,606 65,047 18,230 306 213,726 L I A B I L I T I E S Capital paid-in Surplus Government deposits Due to iiJe/Jibers reserve account Cellecuion it ems Dus to other F* R. Banks - net Other depos. in c l,f or.Gov* t.credit s Total gros^ deposits I',R„iTotes in actual circulation jp.RcBbantes ii circul. aet liab* All other lia b ilities 28,727 15,765 3 ,4 7 6 • • « 5,410 53,517 14,301 , s 97 76,493 63,5 58 3 16 • • 170,903 95,760 177,804 3445,934 2,73S 38 6,687 40,5S1 4 ,2 9 5 442,782 « • 143,527 3,450 2,830 m+ * 51,580 53, 53s 148 108,042 4,296 74,223 1,134 9,060 104.086 * « • 7,^76 38,056 70 ,8 34 1499,400 6,120 9 ,875 216,897 4 »• • 1,017 »• * 19 2.903 81,059 90,419 52,669 92,672 1901,442 68,392 40,096 80,836 1452,838 5,769 7 4 ,9 8 4 9,647 * » 17 . . . * 366,075 537 137 7 ,9 7 8 664 « ♦ * * 165 170,903 95,760 * Difference between net amounts due from and net amounts due to other Federal Reserve Banks. • * 7 ,9 7 8 8,36.9 17 7,80 4 3 4 45 ,9 8 4 ♦ t • » • « ■nexeasea ror puoneat ion Sunday morning, March 31, 1918. FEDERAL RESERVE NOTES X-852c STATEMENT OF FEDERAL RESERVE AGENTS’ ACCOUNTS AT CLOSE OF BUSINESS MARCH 28-2$, 1918. (In thousands of dollars) Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Received from ^omptroller ^ f ’0® Returned to Comptroller -% ^°7 Chargeable to F. R. Agent I ft of F* B* A . J20 IssTS&d tx F*E*Barifc$ amt* re- ,»ra»4 Vo jjot earlier. ???'?!? l63' ^ ° 12,440 lie ’ l l 2T>9} 1 1 51»100 115,200-- 6^240___ 13,760 158, 4<a for redec®. _25,!«53 528, 659 S ’? 23,689 121,671 91,4140 89,620 17,^83 14,239 73*457 75,381 4,955 17,005 280,360 83,500 11,481 10,731 268,879 72,769 71,980 96,700 68,500 11.903 14,920 14,320 60,077 81,720 54 ,180 4,760 5,495 8,160 13.835 44,480 Total 101,260 2130,860 8 ??Q 324.263 93,031 1806,597 242,610 l?7,3ltO 68.502 58,376 12,077 6,603 70,000 -.48,660 • •• 2,374 27,000 2,504 2,071 34,920 137>340 _6si502 5g,37 6 224!3^9__68|oQ9 15.046 ^582" 73 1620 253,524 48, 926 5,171 549,742 46,396 22,982 41,464 _zi± > m 4ol345__ 93!ojl J ^ ^ ’ 87 19,227 64,769 34,818 15,937 45,140 23 , 84s 50,108 863,471 2 3 ^9 68.009 -ft. 582 73.620 U0 . 3 ^ , ... 14 , 5^0 2,199 584 93.031 1^ 3 .9 8 7 COLLATERAL HELD AS SECURITY FOR OUTSTANDING NOTES: Gold coin and certif. on band Gold redenption fund Gold settlement fund F.R,Board Eligible paper, minimum required TOtal AMOUNT o f ELIGIBLE PAPER DE LIVERED TO F. R. AGENT 32,109 4,844 11,500 47,000 6,232 73,519 41,920 15,453. ,528,6S2._3.21,671 72,487 37 S , 803 47,532 66,139 39,128 18,881 44,663 179,152 ... ... 12,167 173 2,134 5,000 38,913 165,050 332,340 59,176 26,962 13,102 1,934 24,500 3,024 52,360 18,236 m e m o r a n d a F* R« Notes outstanding F, R. Notes held by banks F. R. Notes in actual cir culation FEDERAL RESERVE NOTES 92’ cfh 121,671 .,2.?,664— J^l.f061-- Z,409 137,340 5 , 86l 68,502 6,910 5S,376 1 , 44s 477 , 59s 131,479 61,592 56 , 92s 211,770 92,739 114,262 OUTSTANDING AND 224,399 12,629 IN /ACTUAL CIRCULATION. 68,009 54,582 73,620 40,345 5,228 _____ 249 93,031 12,195 1563,937 63,558 53,538 68,392 80,836 1452 , 83 s 4,451 1,044 40,096 DISTRIBUTION OF BILLS, U. S. GOVT SHORT TERM SECURITIES AND WARRANTS BY MATURITIES Within Bills discounted and bought U. S. Gov’ t* short term securities Munic ipal ivarrant s 15 days 359,987 217*613 3 16 to 30 days 127,065 2,224 31 to 60 days 267,267 3,781 7 6l to 90 days 123,498 9,122 487 Over 90 days 9 ,4 7 6 19,839 l Total 887,293 252,579 529 111,149 191 Relea^u. . nd&y acm ing Jforch 3.1, s. Not earlisr. SIA.3SMEHT SHOWING PRINCIPAL RESOURCE ANT) LIABILITY ITEMS OF 1.1EM3ER BASKS LOCATED IN CENTRAL SELECTED CITIES AS AT CLOSE OF BUblNESS MARCH 22, M I S -- Da*a reporUn g J j c j ^ s ^ j a c ^ j ^ t ^ g f c . ______________ (_In thyu£;a:.ds of dollars.) N o 'r ^ i T t o s Liberty bonds Boston Hew *ork Phila. l" ’ 621 50,571 12’9S1 U?-932 “ •« * « ,1 5 0 is .ji ? 11,320 17 1 : 639 72 3 6 s923 ‘18,37*7 13,229 3*? gc>6 11 II-O Cle.el Richm. A t ! ^ t a “ Chicago S t . W B 17,370 60S &S* L iiH S r ^ S r A U ° o t L r tL n s and Minn 3 5 ,t e 171' 919 732,623 5 23,682 21’ 77° 19,939 13'° ° 9 ^ 28'^ 32 S 17,569 3 5 ,3 ® R 1^)7 10 POR Q o?c ik xoo ^ 597>077 929,196 291 1*32 1365,307 373, 635229,994 27.351 726 ^8 6?6 IS 213 959 963 ^3 342 s ’^7 705,005 4 33 287 60S 172 136 5 7 n ,4 l k ’w 96 32*536 -u^oo ^ 0r^’ March i.larch 5g 22 57 Chicago StoLouis Total Cen.Res.Cities Reserve Cities 01 53,493 792,852 15 March 22 March 22 March 22--March 15 March 22-March 15 40 i4 m n2 424 420 1,393 1 0 ’37° k7>35° k l’? kS 171’ 79S l 73>270 160,975 13,129 6,660 173,282 181,938 146,725 153,001 70b, 589 45,113 26,737 364,752 755,703 315 121 217 401 Ieom-sd°bjri“ s! 9S1,^ Z 9°2' S51 59,635 '*3 ' S17 10g5' ^ u 98U.690 lUs,ss9 llt0 >6l 0 15,975 6,988 171,252 160.669 investments^ 3 5 ^ ,2 6 6 Reserve with F.R.bank cash m vault 107,099 T'M epOS 3 9 1,2 53 p deposits ^ ovemnent deposits 3583,566 550,365 104l713 827,702 275, l4j 4651,113 4676,689 O t h e r T s .b o n d f i n c l ! ’ ^ tT q p3r^ " Bon^ s . , , . * o .S .C e r t if. m debt. L ^ l ^tU T ~ e6 ,,1% 7n >ji Sw* 8 :$ 2 ;S l-itM 2 ' fol ^ ^ 3 1 * .42S 450,634 184 364 ; 476 109 9 963 007 4J 732 171 s 4 44 S ^ S 'S K i M 6° ^ ’366 £*066 3?I’o S W 160 i f f ^ R * r $ o So u 24 ^ 106^9 i ’ t o ’ S I ^012 l l 'M o [ ^ j l z .l l t Data for banks in each Central Reserve City, banks in a ll other Reserve Cities and other reporting banks No ,.m n . t v v No. reporting banks 1 3^ i3 J investments 39 94 ,4 4 4 3 37,642 , Heserve with F.R.bank 6 0 ,0 2 630,530 & , g 9 0 85,352 2^553 Cash i n v a . l t 130,492 l t 0 3 4,s60 l i 3 5 :3 % te * * Net decund deposits 602,939 4342,553 569,591 273,246 2' . ? 1 0 .7 , 775 Ticie deposits 7 5,910 288,024 l ,4 l b j .l t i I7 m 79 7 & I f e o i ? G o v^m ent^dep o fits____ 7 ^ , 9 6 l _ _ & L , 5 » K ) 1 2 ,3 0 8 ll,lj 75> 7 * 2. IC.ns.Cy. Dallas 5.532 «fcS? 8 ' 671 ""— :---y_ S52d RESERVE, RESERVE AND OTHEK Aii°othorei ^ n s and 539,065 * i 716214 678 018 155,201 150,331 3902,899 696,883 203,093 4831,229 4809, 0^5 235,129 2 4 7 ,2 % 137*769 52,104 425,002 443,196 360,738 266,559 58,967 28,954 44s,709 324,678 97,963 > 124 29,186 7,97? 122,1*95 Country Banks Total March 22— March March 22— iVLrch l47 149 682 631 15 48,124 31,766 37 679 15 267,272 32,094 351 773 26 702 1217 43,426 263,745 367 033 qoo’ mfi 5^3 ]67a 117,’ §69 107,'177 1536 ,’ 597 l635i5S>* 12l , 6U0 20,081 20,396 311*,1*28 302,705 4565.924 4564,246 U lh 425055 177,229 178; 394 3635,033 3721,377 794,524 797,151 230,769 167,778 743 783 qq6^ 007 qqs4 718 49 913 49:135 U 93$9 1152 SI 39: 57s 3 1 ,5 0 0 372 008 & . 52 X 612,373 587,755 9129,135 9113,207 160,290 152,145 1379 316 1392 492 32,646 26,039 762U 24 518^45 745,970 X~852e Released for publication Sunday morning March 31, 1918. Not earlier. STATEMENT FOR THE PRESS • CONDITION OF MEMBER BANKS ON MARCH 2 9 , 1918. Principal changes for the week in the condition of 682 member banks in 100 principal cities are shown as follows: Holdings of U« S* bonds, exclusive of circulation bonds, decreased about 15*4 millions, while those of certificates of indebtedness went up 217*7 millions, of which the banks in the central reserve cities are credited with 109 millions and the banks in the other reserve cities with 97*7 millions# Loans secured by U , S* War obligations gained 11.7 m illions; chiefly at central reserve city banks* Other loans and investments at these banks show a decrease for the week of 25*6 millions, the decrease for a ll reporting banks being 23#3 millions* Reserves with tho Federal Reserve banks increased 40*7 millions, largely in New York City, while cash in vault shov/s a gain of 11*4 millions, mainly in the banks outside reserve cities* An increase of 10*2 millions in net demand deposits is more than offset by a reduction of 13*4 millions in time deposits* Government deposits increased 243*6 millions, the banks in the central reserve cities re porting aggregate gains under this head of 124 millions, compared with gains cf 113 millions shown for banks in other reserve c it ie s » The ratio of combined cash and reserve of all reporting banks to total de posits shows an increase from 13*7 to 13*9 per cent, while the like ratio for the central reserve city banks went up from 14*9 to 15*3 per cent* Inversely, the ratio of investments to deposits for all reporting banks shows a decline from 108*1 to 107*5 per cent and for the banks in central reserve cities from 104*4 to 103*6 per cent. Total excess reserves show a rise from 72 millions to 112*2 millions, while like reserves of the banks in central reserve cities show a |rise from 39*5 to 75*4 millions.
@FedFRASER