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I .ay rooming'January 7 > 1917* STATEMENT FOR THE PRESS. January / 6 , 1917- The Federal Reserve Board issued today its weekly bank statement as at close ox business on January 5 j 1917- The statement contains certain changes of presentation, severa.l items having been added, while others, shown heretofore, have been eliminated. For the first time the statement specifies the amourite of uncollected or transit items on the asset side, and of similar items on the liability side. The new item ’’Due to members - reserve account" - rep'Tssents those portions of member banks1 deposits which count as the reserve of the depositing banks, and is exclusive of uncollected items credited to these banks, but which become available as reserve at some future date only. Similarly the items "Due to Federal reserve banks", and "Due from Federal reserve banks" represent collected items only, and for this reason are much smaller than like items shown heretofore, which included both collected and uncollected funds. As the result of these changes the total assets and liabilities show largely increased figures, and the above explanation should be borne in mind when comparisons with the totals for earlier dates are attempted. Aggregate gold reserves of the banks show an increase of about 7 millions during the week, and the banks1 combined cash reserves - an increase of 5*7 millions. Earning assets decreased 9*^ millions, largely owing to the decrease in the holdings of commercial and bank paper. Richmond and Atlanta report additions in some volume to their holdings of discounted paper, while the four eastern banks appear to have liqui^ dated a considerable part of their short-term discounts.. Over 30 per cent of the discounted paper held by the banks is made up of member banks1 collateral notes discounted by 9 Reserve banks. New York, Philadelphia and San Francisco report considerable decreases in the ’ amounts of acceptances held, the total for all the banks being 5*7 mil lion3below the total sho-vn the week before. Of the total bills on hand, including acceptances, about kj Per cent mature within 30 days and 32 per cent after 30 but within 60 days. Of the municipal warrants on hand, 35 Per cent mature within 30 days, 19 per ;. cent after 30 but within 60 days, and about 20 per cent, as against less than 1 per cent of the bills, after 90 days. Transactions in United States securities, including the conversion of 2fo bonds into 3 bonds and notes, are reported by seven banks, re sulting in a decrease by $3,195^000 in the amount of United States bonds and an increase by $ 3 >690,000 in the amount of one-year Treasury notes held. Warrants on hand show a slight decrease for the week. Of the total earning assets acceptances constitute 57*3 PQr cent; United States bonds I 9.3 per cent; discounts 12 .3 per cent; Treasury notes 7*0 per cent; and warrants U.lper cent. The ratio of total earning assets to the banks' paid-in capital now stands at 382 per cent, as against about U00 per cent on the last Friday in 1916 . Government deposits show a decline of about 3 .3 millions, Richmond, Chicago and San Francisco reporting con siderable net withdrawals of Government funds for the week. Federal reserve agents report a total of $ 300 , 280,000 net of Federal reserve notes issued. Against this total they hold $281,292,000 of gold and $20,272,000 of paper. The banksf outstanding circulation of Federal reserve notes is given as $ 272 , 873 .>030, an<* their aggregate liabilities on notes issued to them by the agents - as $13 .>^ 5 •000. Released for publication SvtnA&y morning January 7 , 1917Hot earlier. 057 a . -iO ulNT OF COMBINED RESOURCES 1ND LIABILITIES OF THE TT,rELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS JANUARY 5,1917* J L -L+-7- + • Ja? ^ ary> 1917'December 29, 1916* October 6 , 1916 r :^ in ........................................ $ 267, 169,000 281, 568,000 265, 626,000 " •ij r ’ 'r?.................. 192,001,000 170 , U71,000 119,441,000 ' E t ^ c o l d reser^ reaSUrer.............. —1^600,000 .......l ^ L O O O . 1,910,000 '--al teJd ef notes ^ilver’ ate............................................... £ ’ U ° ' 00053j 71 3 ' 000 ' 386 , 977^000 Totil reserve' 6 J *......................... .................. IL .1SO,000 17,5^8,000 13,991,000 ........................... 47©,950,000 4 ? 1 , 251,000 400,968,000 . r e s e r v e . . . . . . . . . . . . . . . . ..... jfxye per ceno redemption fund against F- R. bank n o tes.... 400,000 400,000 500,000 ik e ^ c e r W h t ...................................................... W e p ta n c e s bo ignt................ . . . ................................................ jniued otatbo b ° n d s . . . . . ................ .......................................... ^ .e _ y e a . United States Treasury no tes,................... .............. tf^.r.icipal warrants. ‘ ' * ....... ................................................. oiai earning asoeto.. ................................................. ....................... . Federal reserve notes - N e t ..,, .... AU t U ................ ................................................ ................................................. B l f i I ’ i e 's 26,217,000 121,807,000 41,052,000 14,857,000 8 , 736,000 212, 669, 000. 21,664,000 30>196,000 127,497*000 44,247,000 11,167,000 _ _ 8 ,915,000 222,082,000 2 1 , 3 00,000 77,438,000 44,370,00 0 S / 763 , 000 ^Lm ^OQO 183 , 312,000 14,8^4,000 22,025,000 ?0 , 148,000 52 , 589,000 4,546,000 _g 5, J g k fiQg 174 , 544,000 24,111,000 toiT^152^ 22 $869, 730,000 2 ^ ,0 0 0 768 , 226,000 .3 . 0 ^ ,000 628, 951,000 647 , 113,000 499,087,000 55 , 695,000 55 , 684,000 5 M 58 ,ooo 28, 837,000 33 , 971,000 . 114 , 460,000 54 , 895,000 23 , 84.1,000 55 , 695,000 25, 566,000 .................. * ............................................... ? r ...................* :■ * '........................................ ^ue to iriGinoers - Reserve accovmk....................................... herater br.n.k deposits - Net ................................................. it,eas...................... ................................................... S56 k22 000 ..... ::: a rf& jg 69 -3$ Oold reserve against net deport and note liabilities . . . . Casn reserve against net deposit and note liabilities....... Cash reserve against net deposit liabilities after setting as44* 4<$ gold reserve against aggregate net liabilities on ?fe4eral reserve notes in circulation.............................. 3,979,000 30,531,000 25,048,000 16, 734,000 . ... . . ^ 89 , 410,000 24 156 ,000 7 . 078,000 . ... 668,786,000'- 526,(?19,0&Q ' * 465,840,000 * 407,244,000 , *68». 2)## o d K70 S<=d w 67*q£S mV i om* 118,559,000 ] i .i r 72.4# t'U I.1^ d BS S t a n c e f ribUti0" * " sturities: - - ^ ' 5 , 191?- 1 - 1 5 days. .............................................................. * 5 M 1 7 .0 0 0 MunWiWl ™rrarrt8 ................................................................... 1.9*9.000 23, 656,000 July 7, 1916 January 7,19l6. 261, 232,000 272, 018,000 123 , 611,000 81 , 150,000 ...2,011,000 1,250,000 386,854,000 354,418,000 36,902,000 .12,888,000 423,756,000 367 , 306,000 450,000 70.9# 7 ] fd, 16- JO 'da,s.31 -60 29,301,000 1,127,000 7 U ■?€ Tk.ti P h l< J 7 = rtf r,c oa> day,. 61 - 9 0 "days. Over 9o'"days Us, 106,000 35.055,000 5X5,000 1,687,000 2,273 000 1,?MOOO Released for publication Sunday morning January 7 , 1917 . Hot earlier, 957 o. WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF EUSINESS JANUARY 5, 1917* (In thousands of dollars) R E S O U R C E S . Boston N- Y. Phi la Clevel Richm. Atlanta Chicago St.Louis Minnls. Kas.Cy Dallas S.Fran. >potal Gold coin and certif. in vault $12,199 141,431 17,411 15,762 5,3&5 5,>35 26,155 10,983 8,972 6,198 5,117 12,141 267,169 Gold settlement fund 19,506 26,357 12,916 20,759 15,789 5,186 33,220 4,585 8,4o6 24,728 11,598 8,951 192,001 i. OJw xu 200 30 ^42 ..... 21_ 100 250... Gold redemption fund __50 31 ___ i 2 i_ Total gold reserve 31/755 168,038 30.427 36,552 21,345 10,963 59.575 15,763 17,408 31,070 16 7 7 2 21,102 460,770 16.180 48 214 1.852 818 10,224 17_5_ ___32L.. 323 121 512 1,051 Legi,l tender notes, silver, etc. 515 32,270 178 . 262 31.478 37.064 21,466 11.781 59.898 17,615 17,622 31,245 ...i .Ll022_ _2ixi5Q_ 476,550 . Total reserve 4X 100 300 ^^redem pt. fund - F. R. "bank notes 828 26,217 1,872 l,l4 l 4,384 839 3,746 497 231 1,900 6,810 Bills discounted - Members 3,390 579 6,290... 3,611 4,162 10,043 2,351 11,040 121,807 7,132 9,891 13,277 3,394 Bills bought in open market 38.417 12.199 4,108 11,271 148,C24 8,162 3,179 13.038 10,470 7,140 Total bills 011 hand 7.552 14,427 >5,227 8,273 15,177 2,634 41,052 4,328 2,443 2, 203 2,160 826 8,493 Investments: U. S. bonds 7,360 522 1,338 1.332 7, >13 500 963 891 700 14,857 824 2,962 705 1,000 618 One year U. S. Treasury notes 1.726 1,969 1.999 164 488 576 127 400 921 274 61 1.988 Municipal warrants 1,867 831 1 , 03.9..- 8 J 3 6 , ...13 ,> .7 .2 8 10,936 25,723 11,943 . 11,793 18,340 . 8 * m _ _15,l>>> 212,669 Total earning assets 49,463 16,137 20,315 10,508 21,664 2,076 549 602 16,102 Federal reserve notes - Net 2,335 1 ) 6,666 652 65 I 68 891 169 2,303 3.829 Due from other F. R. banks - Net 7,213 1.853 142,629 4,966 18,165 9,561 11,495 26,411 20,192 Uncollected items >,755 13>741 8/305 9*639 9,933 488 _j6 i_ 1,340 656 119 .8,15.2... 184 468 1,050 2,029 All other resources 233 1,503 313 54,598 ■J1^12 869,. TOTAL RESOURCES 66,932- 2 0 * 5 5 1 76,070... 70,685 .>2*015 •^4,^07 110,606 ..>3 ,.>>!_ 3>x9>i ____________ ___________ _________ J ... , -----... ^ ........ . ... . ... no... IMil L I A B I L I T I E S . Capital paid in 4,990 ernnient deposits 1,671 to members - Reserve account ^7,167 Collection items 13 , 07 ^ Federal reserve notes - Met -^Du© to other Federal reserve banks -Net All other liabilities TOTAL LIABILITIES 66,937 « 11,866 3.579 222,731 21,0*43 -- 5,229 3,133 ^6,378 6,022 967 11,256 1,112 -- 5^,850 8,8U6 --- 270,551 76,070 70,685 20,139 3,346 1,822 25,823 8,335 2,189 -42,015 2,450 6,913 1,320 2,382 15,^7^ 89,088 9,308 13,285 2,719 ~6U0 -- 2,800 3.033 25,822 7,887 3,905 -- 2,445 25,930 3,591 593 - - 110,606 43,447 3>,9>1 3.716 ^4,307 3,074 2,694 3,929 802 i,33> 1,744 ^3,175 23,255 3^,729 5 ,^ 3,795 3*102 1,893 83 *+. - ~ - 54,598 31,.2.12.. 45,557 55,695 25 , 56b 656,^22 118,559 13,245 ~ 869,730 ME M0 R A N D U M 7,178 16,854 19,462 22,186 23,619 14,781 F» .E. notes issued to the banks 13,491 109,255 17,039 10,655 20,385 25,375 ,3 66 _ jlO Z 442 ...l,iJQ7. 647 27,407 1,641 1.052 ...2,335 188 602 16.102 F- R. notes held by banks 549 16,412 18,744 . 2.4, 3 2 1 4,843 .18, 055. .21,53.9- 23,253 12,705 272,873 12,942 ........ * F. R. notes in circulation . . . i q ^ m . Gold and lawful money with Agent 1~5,49I 109.255 15,739 10,655 16,555 21,604 7*178 12,507 17,462 19,646— 22,_4l_9— 14,781 , 281^292 (a) Difference between net amounts due from and net amounts due to other Federal reserve banks. 3 2 2 2 1 5 1 1 6 , 8 5 1 6 0 0 , 2 8 0 .......... Released for publication Sunday morning January 7, 19if- Not earlier. 957 c. STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS JANUARY 5, 1917(In thousands of dollars) N. Y. Phila. Clevel. Richm. Atlanta Chicago St.Louis MinnIs. Kas. Cy . Dallas S.Fran. $28,880 180,400 30,480 17,660 29,500 35,380 11,880 22,540 24,500 28,120 35,320 17,720 462,380 ^ ^ t u r n e d to the Comptroller 7^ 2 9 53,725 6,181 3,905 6,615 3,910 1,702 2,646 918 2,181 4,645 1,939 95,796 Chargeable to F. R. Agent 21,451 126,675 24,299 13,755 22,885 31,470 10,178 19,894 23,582 25,939 30,675 15,781 366,584 7,960 17,420 7,260 3,100 2,500 6,095 3,000 3,040 4,120 3,753 7,056 1,000 66 ,304 Issued to F. R. Sank less amount returned to F. R* .Agent for redemption 13,491 109,255 17,039 10,655 20,385 25,375 7,178 16, 85!+ 19,462 22,186 23,619 14,781 300,280 Amount held by F. R* Agent ixi reduction of liability on outstanding notes: On .hand: Gold coin and certificates 12,600 103,952 3,730 9,980 5,165 13,230 4,370 10,340 891 5,303 829 675 1,016 1 ,249 461 14,855 14,320 99,610 Federal Reserve Notes: Received from the Comptroller In hands of F. R. Agent ^firedit- balances: * n gold redemption fund With Federal Reserve Board As security for outstanding notes: Commercial paper Total A http://fraser.stlouisfed.org/ 1 Federal Reserve Bank of St. Louis 168 982 - 16,000 16,250 7,oio 6,510 3,250 14,260 10,830 — 4,347 2,000 2,540 1,200 -- 18,988 7,178 16,854 19,462 22,186 23,619 14,781 300,280 4,351 2,000 2,544 1,673 -- -- 1,300 - - 3,830 3,771 109,255 17,039 10,655 20,385 25,375 4,615 3,789 Amount of commercial paper delivered to Federal Reserve Agent -- 1,300 166,82] 1,894 - 13,491 • 555 -- - 11,180 3,4bO Total 00 ro Boston 20,272
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