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•
..Released for publication Sunday morning May 13, 1917'- Not earlier.
X-I36 .
STATEMENT FOR THE PRESS.
May 12, 1917*
The Federal Reserve Board issued to-day its weekly bank statement aa
at close of business on May 11, 1917• The principal changes shown therein
relate to Government deposits and uncollected items,,' which show increases
of 134.6 millions and 126 millions, respectively, compared with correspond
ing figures shown the week before* The large increase in Government depos
its represents payments to the Federal reserve banks for the Treasury on ac
count of additional U. S, certificates of indebtedness issued during the
wBeki Acting as fiscal agents for the Government, the Federal reserve banks
re-deposited the funds thus received with the subscribing banks, the amounts
re-deposited being included in the statement under the hea of “Uncollected
items’1,
Aggregate gold reserves of the banks 3how an increase for the week of
3 <6 millions, the larger gains of gold by the New York and St«Louis banks rep
resenting largely transfers of credits in the Gold Settlement Fund by other
Federal reserve banks.
Total gold resources of the system, including amounts
of gold owned by the Federal reserve banks and Agents, stand at present at
nearly one billion dollars, having increased 8.8 millions during the week.
New York’s gain of 39*2 millions in gold reserve and of 35*2 millions in
total reserve are due largely to net increases in Government and reserve de
posits. Liquidation of earning assets to the extent of 4*2 millionsand an
increase of 24.7 millions in the amount due to other Federal reserve banks
are offset in part by a larger amount of Federal reserve notes on hand and
a decrease by about 15 millions ,i» "Other liabilities".
Gains in reserve
by the Chicago, St.Louis and Minneapolis banks may be traced chiefly to in
creases in Government deposits and the return from; the Agents of gold held
to redeem outstanding Federal reserve notes,
Commercial paper on hand shows a record t*tal of 39*5 millions, the in
crease for the week being 3 ,6 millions. Of the total held, 11.2 millions,
as against 7*8 millions the week before, is represented by member banks' col
lateral notes, nearly 70 per cent of which are held by the New York, Phila
delphia and Richmond banks. Acceptances on hand increased 13,3 millions,
the three Eastern banks, Cleveland and Chicago, reporting considerable addi
tions to their holdings of this class 0f paper. Holdings 0 f U. S. certifica es declined about 6*5 millions,
largely as the result of sales by the
New York bank. No changes are reported in the amounts of U. S, bonds and
Treasury notes held, while municipal warrants show a further small decrease.
Total earning assets increased 10 .3 millions and constitute at present
73 Per cent of the banks® paid-in capital, as against 455 Per cent reported
th> week before. Of the total, 36,1 per cent is represented by acceptances;
21.b per cent by U, S, certificates of indebtedness;
l4,7 per ce.ni by discoun s,
13.4 per cent by U* S, bonds; 8.7 per cent by Treasury notes, and
5*5 per cent by warrants,
v
week the Government effected heavy transfers of funds to New
York through the Gold Settlement Fund. As a result, 4 banks report,
de
creases in Government deposits. Member bank reserve ;
\ deposits >#ell off
a out 2 .4 millions notwithstanding the large gain under this head reported
by the New York bank.
Federal reserve agents show a total of $470,401,000 of notes outstand
ing, an increase for the wfsk of 11*5 millions. About 10 million dollars
additional Federal reserve notes were issued during the week to the Chicago,
New York and Cleveland banka. Against the total issued the Agents h»ld
T.
,000 of gold and $32,776,000 of paper. The banks report a total cf
$h3®,218,000 of Federal reserve nptes in actual circulation , and aggregate
net liabilities thereon of $ 23 , 975, 000 .
V
Released for publication Sunday morning May 13, 1917*
Not earlier,
X-i^T.a
STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAY 11 , 1917 .
R E S O U R C E S ,
May 11, 1917May 4, 1917
February <j, 1917Hovember I 0 / 19I& May IP, 1916 .
Gold coin and certificates in vault.............. ...........................
$336,84-1,000
336,118,000
274/194,000
265, 89 /,000
238,465,000
Gold settlement f u n d ...................................................................
221,759,000
218,910,000
212,3ol,000
139,571,000
71,931,000
Gold redemption fund with United States Treasury..................
'
2.687 .000
2 ,6 6 9 .000
1, 774.000
1, 768 , 000
1.77 8 , 000
Total gold reserve...............................................................
5^1,287,000
537,697,000
488,889,000
406,836,000
312,174,000
Legal tender notes, silver, etc.................................................
36.149.000
39,415.000
10.677.000
7.712.000
7,927.000
Total reserve.........................................................................
597,^36,000
597,112,000
499,522,000
4 l 4 ,148,000
320,101,000
ve per cent redemption fund against F. R. bank notes,-400,000
400,000
400,000
450,000
386,000
39,53^,000
35,916,000
16,200,000
19,380,000
20,007,000
11s discounted - Members.. . ....................................................
Bills bought in open market........................................................
97,155,000
83,871,000
112,092,000
90,913,000
49,196,000
United States bonds............................................... ......................
36,222,000
J b ,222,000
29,470,000
38,853,000
51,268,000
One-year Treasury notes................................................................
23,450,000
23,450,000
18,647,000
11,347,000
3,840,000
United States certificates of indebtedness.............................
58,089,000
64,597,000
..
. . ...........
Municipal warrants.........................................................................
14.688,000
14,755.000
14,877,000
20,694,000
40,285,000
Total earning assets............................................................
269,138,000
258,811,000
191,242,000
181,187,000
164,596,000
Federal reserve notes - Net................................... ....................
24,080,000
23,561,000
23,290,000
17,613,000
26,053,000
Due from other Federal reserve banks - Net.............................
1,345,000
5,243,000
13,255,000
35,065,000
15,752,000
Uncollected ite m s.........................................................................
310,685,000
184,639,QpQ121,225,000
.. .......... ...........
........
All other resources................................................................... . .
6,078,000
5,412 ,A^O
11,078.000
2,487,000
4,705,000
1,075,178,000
860,012,000
650,946,000
531,193,000
TOTAL RESOURCES............................................................ .........$1,209,162,000
L I A B I L I T I E S .
56,859,000
56,859,000
55,713,000
55,710,000
54,850,000
Capital paid i n .......................................................................... .
Government deposits.......................................................................
242,421,000
107,868,000
15,525,000
23,339,000
38>153,000
^Due to members - reserve account...............................................
740,726;000
7*+3,143,000
678, 170,000
.
^fcsmbar bank deposits - Net........................................................ .
556,462,000
427,810,000
""Collection items................. * -......... ............................................
134 , 447,000
112 , 761,000
97 , 207,000 •
........
Federal reserve notes - Net........................................................
23,975,000
18,974,000
13,093,000
13,886,000
8,402,000
, Federal reserve bank note liability..........................................
.
. ..............
1,030,000
1,751,000
All other liabilities...................................................................
10.734,000
25,573,000
704.000
519,000
227.000
TOTAL LIABILITIES................................................................. $1,209,162,000
1 ,075,1/8,000
860,012,000
650,946,000
531,193,000
Gold reserve against net deposit and note liabilities.........
6 6,9$
6 7.4$
73*0$
7 2 .8 $
68.1$
Cash resbrve against net deposit and note liabilities.........
7 1.2$
72.1$
74.6$
? 4 .1 $
69 . 8$
Cash reserve ag'st net deposit liab. after setting aside 40$
gold reserve ag'st net liab. on F.R.notes in circulation...
72-1$
72*9$
75>3$
75-0$
70.4$
MEMORANDUM: Distribution by maturities: May 11, 1917 .
1 - 1 5 ^a-ys
16 - 30 days
31 - 60 days
6l - 90 days
Over 90 days
Bills and acceptances...................................................................
38,850,000
22,153,000
37,442,000
36,378,000
1,866,000
Municipal warrants.........................................................................
54,000
9,153,00 0
3,058,000
1,336,000
1,087,000
«
'S /
Released for publication Sunday morning May
13 , 1917 .
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES
N0t earlier.
Y rhv
FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAY 11, I 917 .
OF EACH OF THE
^In
thousan<*s of dollars)
(Sold coin and.-certificates in vault $°l4,605 I J B M S 22 l ^ ’ i g ^ S 1 * S ig T * T
5° 1St^ ouia Minnls* Kas.Cy. Dallas S Fran.
Total.
Gold settlement fund
1 ,9 0 7
1 I 93
12 2 ^
£ '{ £
1H f ?
H 53
l 2/ 7 i?
] ' & 1 7,755 14,60 5 336,841
Gold redemption fund
48
25Q
250 3' i§ ^ i 3
9 W °r
M l 8 2^ 92?
5,266
9' ° 58
221/?59
Total gold reserve
32,560 250,159 34 617 4? 581 Vq 07 c— Tn~arv7---- crTc?^—
— -— p52--- lfjO---- 22--- 12---JLtMl—
Legal tender notes, silver, etc.
-- 534___ £9,155
'i^p
' lkl
'^
5^ | 3
2,648 18,480 33,030 13,118 23,682
5ol,287 •
Total reserve
33,09*+ 27Q.^lUn U 7 k p 700 on n\—
------ rv
— -J r .i j j Z -- _S£0---- 14--1
---- 82-- 3.9jl1t§—
#
redemption fund - F.R. bank notes
. . --- . I ? '
K ’J f
6l.^H8 23,9.8 ° ^8,7<jQ 3 3 ,O W l M #
23,771
5 9 7 .^ 6
Bills discounted - members
2,803
3.021
5 790
] 7m
7 kok
o~>i™
~ ~r
~ ~
300
100
—
400
r 1? c n
TT
B n TT <?
p
Bills bought in open market
Total bills on hajid
United States bonds
One-year Treasury notes
U. S. certificates of indebtedness
t o icip a l g r a n t s
Total earning assets,
Eederal reserve notes - Net
Due from other F. R. banks - Net
I t T f .T ? ™ ®
t
MEMORANDUM.
notes issued to banks
R. notes held by banks
F. R. notes in circulation
Gold and lawful money with Agent
R.
14,309
I 30
2,194
3,000
i :» 7
_ 2QA 6 0
2,280
2,348
«
21,757
30 778lft
l^O 6
2,788
20,002
< 039
.59,903
14,798
-
12^843
7 ',885
6 *.Q33
2*677
^788
4.415
4-fIo
\ *zn 8 2ll
97'l55
f a t o f a t — T 7 i,c^---- ----- JjJQp.-- ±l2±2-- ±i2 jV --^ d J A --- 2if+--O/^-P-- 2 7il55 ,
5S
9A § ^
5'??7
P
I 'P
^ P 2
^
3 ' 9^
9' ? 69
l3 f ^ 9
2,5*48
1*865 l'gfig
1 , 1+91
K 85
{*$1
H fij
J ^ 6q
M S
23*450
3,500
4 955
? nnn
? cnn
c o£i
« «
1,784
1,4-30
1,500
23,450
2' ° ”
2 6 ^ 5 2 25,183
ltL593 10.074
pq A
ik io l ^ J r l
t, S I
^ o S -,o
1 ^00
-------- ^
— — •»■
<■
■ — *5-*Hrr— ±1x49* 12 i823— 1°<-83?--2r9.j 13° ,
-9^591
2 339
^ Oflfi
i^ L ? r
~noi
“ “
1 ,°51
24,080
^
30l a 1
l‘3& £gg
S .
Capital paid in
pernment deposits
e to members - reserve account
Collection items
^Federal reserve notes - Net
Due to other F. R. banks ^ Net
All other liabilities
TOTAL LIABILITIES
F.
a+
^
u :s
l o :^ ? 3 ^ 3 2
9 0 ,^ 0
5,074
18,688
44 ,290
11,894
158
80.104
l?,075
105,532
295,148
37,075
39,713
10,226
499,769
6,240
5,253
18,
247
15,156
47,215 54,583
22,011 11,620
2,682
325
191...
92.833 Q Q 6 Q O
21,930 201,640 31,680
__ it, §.80. .... 1.4,.798 . 1.098
19,650 186,842 30,582
21,530 201.640 -27^2.00 .
*© betweei1 net amounts due
^
23,981
1j 390
^1.686
3,438
2,388
4,5118
25,092
8,655
8,568
17,869
4,908
9,935
1,308
18
2X,OOD
17,059
_§54.
7j 057
30,076
96,876
12,757
7C Alii v mo.7bo
3,139
7,643
26,619
8,618
3,702
2,432
6,008
27,938
2,787
3,963
i
lM b.%Z 6 5 . ^ 2
3,081
10,436
* 3,762
7,749
344
-49,721 1
.i*3^l37 J L
48,945 15,619
813
7,021
685
22,591 16,205 18,760
41,924 14,934
23,981
1,270 -11*452., _46.,,48^ 11,232
f rr»Tn an eI
c*mAim4o
19,573
W .o k
23,520
9, | e
2,747
6,623
22,376
3,080
2,041
j j .8 36,867
25,369
1.147
786
22,373 24,583
18,410 .24*239
20,175
260
19,915
17,874
5^806
S'2I '
u : ^
36.8^?
3,935
10,896
38,958
3,293
56,859
242,421
740,726
134,447
23,975
. JkI2.. ____10/734
57,214 1,209,162
20,910
470,401
i r>Ri ---to i «t
438,218
19,85^
20^10
*38,321
7 ,7
Released, for publication Sunday morning May
13 , 1917*
v 13
T7C
&c.
Wot earlier.
STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MAY 11, I 9I 7 .
(in thousands of dollars)
Federal Reserve Notes:
Received from Comptroller
Boston
N. Y.
Phila. Clevel.
Richm. Atlanta Chicago St.Louis Minnls. Kas.Cy. Dallas S.Fran.
Total.
24,060
761,060
35,600
29,500
36,380
60,560
24,940
34,640
10,000
72,400
8,320
5,^79
10,056
5,852
2,095
4,621
5,130
6,161
8,259
3,150
1^1,523
29,680
273>520
30,121
19,444
30,528
58,465
20,319
29,510
3^,559
28,661
20,910
619,537
7,750
71,880
12,140
6,l4o
2,385
10,955
9,520
4,700
5,990
9,190
8,486
--
149,136
Issued to F. R. bank less
amount returned to F. R.
Agent for redemption
21,930
201,640
31,680
23,981
17,059
19,573
48,945
15,619
23,520
25,369
20,175
20,910
470,401
■Amount held by F. R. Agent
in reduction of liability
on outstanding notes;
Cn hand;
Gold coin and certificates
20,860
191,538
3,730
10,238
4,364
13,918
2,370
11,110
1,070
10,102
1,530
1,243
12,500
^^R e turned to Comptroller
Chargeable to F. R. Agent
In hands of F. FL Agent
^fcCredit balances:
In gold redemption fund
With Federal Reserve Board
As security for outstanding notes
Commercial paper
Total
Amount of commercial paper de
livered to Federal Reserve .Agent
0OJ
52,140
CO
345,920
p
$39,680
—
---
22,640
—
-
3,780
21,930
—
201,6140
31,680
—
3,790
-
-
23,981
2,897
270
4o , j 20 36,920
261,025
1,075
635
598
1,272
1,309
1,124
800
21,028
6,000 13,480
*+5,850
6,270
3,220
20,560
5,640
20,110
156,270
10,789
2,121
2,460
M 87
5,110
1,130
2,301
--
32,078
17,059
19,573
48,945
15,619
23,520
25,369
20,175
11,157
2,125
2,46i
^-,393
5,110
1 , 191+
2,546
20,910
470,401
32,776
@FedFRASER