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R laas od for publication Sunday r-iomm: August 5> 1917*
e-

x-3 io
Not earlier

STATEMENT FOR THE PRESS
August 4, 1917 *
Transfers of government funds from ths interior to New York and
Washington and large advances through the Hew York Reserve Bank to
the Allied Governments of Great Britain, Italy and Russia are tho
main factors accountable for the changes in the condition of the
Federal Reserve Banks during tho week ending. August 3«
Most of
the funds paid out to foreign governments apparently wero deposited
with Sow York member banks and by the latter redeposited with the
Federal Reserve Bank*
Those operations account probably for the lar­
ger part of the increase of 71*4 millions in member banks1 reserve
deposits shown by the New York Resorve Bank*
Acting as fiscal agents for tho government the Resorvo Tanks
redeemed practically the entire balance of outstanding U* S* certi­
ficates of indebtedness, by far the larger portion having been sur­
rendered previously in payment for Liberty bonds#
Some 10 millions
0 these certificates held by the Reserve Banks themselves were liquidate
ted.
The New York bank reports net liquidation of 22*1 millions
of acceptances and of over 7 millions of discounted paper*
The
reserve position of the banks is slightly stronger than the week before,
hw note reserve percentage for the system showing a gain of over 5$ fol­
lowing the substitution by the New York Bank of about"29 millions of
go
or an equal amount of paper held by the agent as collateral for
outstanding reserve notes.
All the other reserve banks, following the
rather heavy withdrawals of Government funds show substantial decreases
in reserves and, with the exception of St* Louis, also in Government
deposits*
Discounted paper on hand shows a decrease for the week of about
7«5 millions, New York and St* Louis reporting the largest reductions
in the amounts of discounts held.
Total holdings of collateral
notes are 44*0 millions as against 5 2 ,4 the week before, while the
amount of collateral notes secured by U« S# securities, included in
the abovo totals, declined from 12*7 millions to 9 .2 millions.
Addi­
tional decreases of about 21 millions in the holdings of acceptances
and of 10.4 millions in the amount of U. S. certificates of indebted­
ness held more than account for the decline of 37*7 millions in the
total earning assets*
Of this total, acceptances constitute 46*5
per cent; discounts 35 r> cent; U. S. securities 18.2 per cent and
er
warrants 0*3 Ver cent.
The ratio of total earning assets to paid-in
capital shows a decline from 712 to 647 per cent.
Acces^on to tho system of the Northern New York Trust Company of
fetertown/J
N» Y#, also of the International Trust Co* of Denver, Colorado,
is indicated by tho increases in capital account reported by the New York
and^Kansas City Reserve banks.
Tho Kansas City Reserve Bank reports
a liability of $2,828,000 on its bank note circulation as against
$2,459;000 the week before*
No liability attaches to tho Dallas
bank upon its bank notes in circulation, since sufficient funds are on
deposit with the Treasurer for the redemption of these notes*
Federal Reserve- Agents report a total of $590, 389^000 of reserve
notes outstanding, an increase for the week of $5,925,000.
Those
notes are secured by $467,845,000 of gold and $ 133 , 478,000 of paper,
Thu banks report an actual reserve note circulation of $540,785,000,
a gain of $6 , 770,000 for the week*




Released for publication Sunday Morning August 5, 1917*
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Released for publication Sunday morning August 5, I9 1 7 .
Not earlier
X310b
WEEKLY^TATEMEW OF RESOURCES ASD LIABILITIES OF_EACH OF THE FEDS5AL RESERVE BANKS AT CLOSE OF BUS!NESS AUGUST
3, 1917R E S O U R C E S
(in thousands of Collars)
Boston
N.Y.
Phila. Clevel. Richm. Atlanta Chicago St.Louis Minnls- Kas.Cy. Dallas S.FranTotal
Gold coin and certificates in vault
$2U , 88U 202,722
Gold settlement fund
1 U,U67 18,896 399,785
32' lkl
6' U83
7 ^295 110,353
4,703 16,323
8 ,7 H
7,741+ 255,667 10,482 35,790 22,25 8
2,339 27,08 2 20,698
Gold with foreign agencies
3 21+8
9 , 6Uo 1 38,153
+
8,995 34, 210
-3,675
18*112
Total gold held "b "banks
y
100
2,625
1,838
2,888
52,500
36,303 U76.501 36,358 73,262 30,578 11,209
74,785 27,501 27 , Ul8 1 5 , 51+6 19,563 31 , kzk 890, 1+38
Gold with Federal Reserve Agents
+
21+,890 202,670 32,904 30,876
7,483 18,778 59 , 231+ 1 U, 891 21 , 3 U
9 14,588 li+,095 2 6 , 0 8 7 1 67 , 81+5
Gold Redemption Fund
+
^ 00. -5,.g5P.
1+50
22
880
238
361
388
Total gold reserves
528
514
21+
5
12
3*399
61,693 68U, 1+21 69,712 10U, 160 38, 9i+l 30,350 13^,257 1 2,780 19,295 60, 61+8
+
+
1 tender notes, silver, etc.
33,893 57,523 4367,673
1.347
1+28
170
J * 8 !--39, 314
3
,760
3,246
2,681
3S6
1 1+
+ 0
Total reserves
53,709
65, 271+ 723,735 71,059 104,588 39,111 31,110 137,503 15 , 1+61 1+9,651 61,088 ^ .2 9 1
+
Bills discounted - Members
57,618 3,1+21, 382
16,252
11,855
8,999
9,966 14,575
4,851 19, 86U 8,330 10,752 10,287
Bills bought in open market
130, 91+8
5W 30
--73*687
16.557 ' 16.595
U ?qd
^68 23.825
3, 81+ 1
+
Total bills on hand
JJQ_ . 1.1,756 . 2*„li3___ 4 ^ 2
174,183
32,228
85,5112 25,556 26,561 18,865 5j 819 1+3,689 12, 17 U 10,882
U.S.Government long-term securities
22, 01+3 7,893 13,879 305,131
701+ 11,376
2,255
U.S.Government short-term securities
8 81+9
1
2,805
5k3
5 ' 318
3,970
2, 1+55 1 2, 1+22
1,859
+
2,194
3,538
2, 51+8 . 2,865 1,969 1,491
3,361
1,444
Municipal warrants
1,3140
1,781+
i,i +30
1,500 25, 1 61+
+
- ■ V---- i-« ..
•
r
. 106
1.0Q7
.
Total earning assets
16
+
1^
34,952
91,885 28,759 36, 441 21,986
8,011+ 58 , 1+26
Due from other F.R. Banks - net
1U,081 32,676 1 3 , 3 3 9
371+, 266
6,115
9,478
3, 88U
3 , 01+2 31,318
l
+,029
Uncollected items
1,201
8, 910c-£*••4, 746
;
14,481
1+3.202 28.782
2 ^ 4 1 28*21+0
Total deductions from gross deposits
13 ^ 72 . 6,670
I2L 0 58
5^ Redemption Fund ag*st F.R,Bank notes
11+, 673
6,670 17,863 201, 801+
All other resources
1+00
100
500
16
68
64
TOTAL RESOURCES
16
218
1+92
120,822 858,822 138,078 159,201 7 7 , 5 W 51,587 255,487 76,912 70 , 77 ? 108,853
a b i l i t i e s
5 5 ,5 H 93,315 *998,41+1+
CSPftal paid in
12,091
5,135
5,277
6,365
3,444
2,387
7,465
3,267
Government deposits
57,881
3,197
6,662
6,338
206
5,497
8, 1 1+
+ 5
b-716 11,318
l+,088
Due to members-re serve account
4 , 7 8 9
70,603 515,81U 66,053 98,344 36, 51+7 25 , 601+ 147,992 1 3,066
+
Due to nonmember banks-clearing acc*t3 6 , 8 0 1
65, 22 ?
Collection items
12,269
26, 71+3
n ,0 7 3
2 9 2
7 , 5 5 5
Due to other F,R. Banks - net
2,826
67.268
132,053
Total gross deposits
656
88,338 628 01+2 91,100 115,11+8
2 9 , 1 8 0
1 7 8 , 2 8 6
F.R.Notes in actual circulation
77,994
6 5 , 8 3 8
27,016 216,321 41 , 1+71 37,688
2 0
5 .2 0
6 9
2l+, 61+ 2l+, I
1
F.R*Bk«Notes in circulation,net liab+
2 3
4 9 1
*
«»*
■
■
«« •
All other liabilities including foreign
2
Government credits
2 , 1 6 8
36.
TOTAL LIABILITIES
- ***
»**
9
2 976

,

*

3 5 , 1 8 1 +

9 , 4

8

7

,

1

5 , 2

1

4 . 2

7 2

2

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7 3

1 7 , 8 3 1 +

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5

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3

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56,765
1192,887

3 9 0

3

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5 4 , 7 0 9

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2

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(a), Difference between net amounts due from and net f o u n t s ^ u e ^ o 'o t L r ^ F .5^ 1 BanV?7 255,U87




7

6

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1

2

70,774 108,853

93,315 1998,1+i+U

5 5 ,5 H
(b) overdraft.

Released for publication Sunday morning August 5 , I 917 .
Not erclier.
STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS AUGUST
( I n thousands of dollars)
Federal

Reserve

R eceived

from

Returned

to

Chargeable
In

hands

is s u e d

to

Agent

on

F .R .

for

less
to

by

for

and

F.

Tederal

R.

of

193,705

1,680

8,965

fund

Reserve

paper,

2,000

Board

U, 220
2,325

26,359

m inim um

. 10 , 000 ..... 3 ?*..000 — 9^3QQ.

890

239,670

10,115

39,202

IK

TOTAL

liverod

com m ercial
to

S*Fran.

Total

36,920 29,660
9 , 55 !+ 3,573
27,366 26,087

983,160

25*8.1+5.. . 25,598

18.905

^ q o .^ q

11+, 102

11,110
981
897
2, 00U 25,130

7.682
35,038
9 , UUn

ft U
. ftl

169,1+90

813,670
22V 281

76.2^1+

20 r828

• -•

3, 353

26.087

Agent

required

Amount

Kas. Cy. Dallas

1 2,720
+

outstanding, notes

21, 210

Com m ercial

Chicago St.Louis Minn' s .
106,220 31,100 38, 6U0
2,686
5.932
6,205
103 , 53 U 25,168 32, 1+35
? 7,300
l+^ho
6,590

certificates

redem ption

With

Clevel. Richm. Atlanta

Z & J d Q . _k 2* 2Qk-33*8/6.. 18*552-_£UZ-i+9....

hand

Gold

Phila-

F .R .

redem ption

held

coin

Agent

igirnt

F .R .B a n k

security

Gold

R.

returned

Collateral
as

F.

N. Y.
1+53,160

66,900 52,000 32,980 37,180
11,290
10, 196.- ^18U... .11,787
6,931
Ui+,390 365*690 56,70U 15,816 21,193 30,21+9
+
.9*500 ._12£,,Q20, ...lk,5QQ
. 2,690 .. 8, 5Q0

Com ptroller
to

of

amount

Boston
$55,680

Notes:
com ptroller

X-3 IOC

3 , 1917 ,

F.

R.

paper

8, 816
2,060
20,000

U83

7,000

9*000. 11,020

3 , 1 1+
+2
1,996
13 , 3 l*Q

1+ +
21
898
58,810 10,61+0

2 3 1 1 . .1Z.300

12, 20U 39,876
+

18,503

21, 71+9

9,076

18,815

2,978

99 7

6,250

2, 370
- 1,158

11,060

262,328
22, 861+
182,653

5,937

i+ 1+96
,

76, 231+ 20,828

25,81+5

25,598

18,905

26,087

590,389

i+,U96

11,337

5,005

* *•

133 , 1+78

11,010 , 1 , 810
+

« *•

122* 51++
1
.. ,-' * ,

de-

A-rent

9,303

17,199

MEMO B i O

5,952
A

•

-Federal Rosorvo notes outstanding andI in actual circulation.
F.

R.

Notes

outstanding

F.

R.

Notes

held

F.

R.

Notes

in

by

banks

actual

circulation

3 M 90

Bills

discounted

i

and

warrants




bought

15 days

Distribution of Bills and Warrants bv Maturities.
16 to 30 days
31 to 60 days
6l to 90 days
over

__

27,016
Within

M unicipal

216,321

U2, 20U
. 7.33.
11 , 1+71
+

239,670

10?,q<j6
51

39,876

18,503

21, 71+9

2.188

217

1,729

6.53U

1.892

20,020

69,700

18,936

37,688

1,028

18,286

SK&&. 20

76, 231+ 20,828

5&>506

101

25,81+5
1 . 20U
2*+,65i

25,598
761+
2l+, 83U

90 days
^,135
1+
9

18,905
527
18,378

Total
305»1^1
1 , 2*19

26,087
2.593
23 , 1 9!+
+

590,389
+
19 . 60U
5 U0, 785


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102