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f , ' • Released for publication Sunday morning, January 14, PRESS • 1 cJi? : w Hot earlier, STATE?.®!®. January 13, 1917. Gains of over 40 millions in geld reserve, due chiefly to in creases in member banks’ and Government deposits, also to the liquidation of discounts and acceptances, are indicated by the Federal Reserve Board's weekly bank statement made public to-day as at close of business on"Jan uary 12, 1917. Some part ox the increase in the banks' gold reserves was caused by the return to the banks of gold from the agents for Federal reserve notes redeemed during the past week* New York's gain of 21.2 millions in gold reserve^; is accompanied by increases of 1 .8 million in Government deposits and of 12.4 millions in member banks' reserve deposits. The bank' also reports liquidation in some volume of acceptances and a reduction of about 4 millions in the am ounts due to other Federal reserve banks. All other banks, except Atlanta and Minneapolis, report considerable additions to their gold reserves for thepast week. The gold resources of the system, including amounts of gold held by the Federal reserve agents, aggregate at present $775, 664,* 000/ compared with $604,436,000 about three months, and $559,144,000 about six months ago. Discounted paper on hand shows a decrease for the Week of about 2 millions, Boston, New York and Chicago reporting considerable liquidation Of their short-term paper. Of the total discounts about 7.9 millions, a£ against 8.2 millions the week before is represented by member banks* collat eral notes. A net decrease of 5.7 millions is shown for the tbtal of accept ances held, the New York and Philadelphia banks reporting the largest de creases under this head. Transactions in United States bonds are reported by three banks, resulting in an increase of $54,000 in the total on hand* No change is shoWn in the total holdings of one-year Treasury notes. Muni cipal warrants! bn hand Show an increase of over 1 million, largely as the result of purchases by three banks of New York City and local short-tem securities. Of the total bills, including acceptances oil hartd, 45 per Cent mature within 30 days, and 33 per cent - after thirty, but within 60 days* Of the warrants held 26 per cent mature within thirty days and 19 per cent after 30 but within 60 days. Only 1 per cent of the bills, as against 38 per cent of the warrants, have a maturity of over 90 days. Total earning assets decreased 6.5 millions and constitute at present about 370 per cent of the banks1 paid-in capital, as against 382 per cent, shown the week", before. Of the total earning assets 56.3 per cent is represented by accept ances; 19.9 per cent by United States bonds; 11.8 per cent by discounts; 7.2 per cent by Treasury notes, and 4 ,8 per cent by warrants. The consider able gain in the amount of "All other resources" is due primarily to the large increase in the amounts of National bank notes reported for the week in the holdings of two reserve banks. Government deposits show an increase for the week of about 2,2 mil lions, the New York bank reporting a large gain in Government funds. In ad dition, considerable shifting of Government funds between banks seems to have taken place during the past weelj. The portion of the total member banks' de posits which counts as reserve shows an increase of 24,2 millions, all the banks axcept St..Louis and Minneapolis showing substantial gains since last week. The so-called "float'1 carried by the Federal reserve banks, as measur ed by the difference between the total of "Uncollected items" on the asset side of the statement, and the total of "Collection items" on the liability side, is about 9.6 millions. Federal reserve, agents report the issue of $293,440,000 net of. Federal reserve notes., a decrease for the week of $6 ,84 4,0 00 .Against the to tal issued they h.old, $274,513,000 of. gold and $20,845,000 of paper. The banks report a total of $268,168,000 of Federal reserve notes in circula tion and aggregate liabilities of $13,558,000 on notes issued to them by the Agents. Released for publication Sunday morning January l4, I 917 . Not earlier STATEMENT OF COMBINED RESOURCES k'^D LIABILITIES OF THE TWELVE FEDERAL RESER' R E S O U R C E S . January 12, 1917* $292,829 ,000 C!'-'id coin and certificates in vaulc....... ............................ Gold settlement fund. . . .................. . . -............................ . 206,541,000 Gold redemption fund with United States Treasurer........... ... 1,782,000 Total geld reserve--...................................................... 501,152,000 i 6 ,769 ,000 Legal tender notes, silver, etc........................................... Total reserve................................................................... 517,921,000 ive p®r cent redemption fund against F. R. bank notes.. .400.000 ills discounted - Members.................................................... 24,231,000 Acceptances bought................................................................... 116,103.-000 'United States bonds........................................................ . 41,106,000 One year Treasury notes.......................................................... 14,357,000 Municipal warrants.................................................................. Q;8r,q,000 Total earning assets........................................................ 206,156,000 Federal reserve notes - Net.................................................. 19,902,000 Due from other Federal reserve banks - Net....................... 11,632,000 Uncollected items.................................................................... 120,846,000 All other resources............................................................... 12,261,000 T0TA1 RESOURCES............................................................... $889,118,000 L I A B I L I T I E S . Capital paid in ........................................................................ 55,706,000 Government deposits................................................................. 27,759,000 Due to members - Reserve account........................... ........ . 680,^86,000 ^fember bank deposits - Net.................................................... ^ R lle c t io n items...................................................................... 111,238,000 Federal reserve notes - Net.................................................. 13,558,000 Federal reserve bank note liability.................................... "A ll other liabilities............................... .................. .......... 271,000 TOTAL LIABILITIES............................................................ $889,118,000 Gold reserve against net deposit and note liabilities... 71*5$ Cash reserve against net deposit i-®4 note lia b ilit ie s .... 73-9^ Cash reserve against net deposit liabilities after set ting aside kof> jgold reserve against aggregate net lia 74-6$ bilities on Federal reserve notes in circulation........... MEMORANDUM: Distribution by maturities: Jan. 12,1917 1 - 1 5 days • Bills discounted and. bought.............................................................. 37,079 I Municipal -varrants................................................................... ............. 1,526 f 96a a • BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS JANUARY 12,1917* January 5 , 1917 October 13 , 1916 267,400,000 267, 169,000 125 , 261,000 192 , 001,000 1,687.000 1 ,600.000 394,348,000 460,770,000 16 , 180,000 11JZL0Q0 405, 725,000 476 , 950,000 370,000 400,000 21,959,000 26, 217,000 77,527,000 121,807,000 42,642,000 41,052,000 10,444,000 14,857,000 11,542,000 8 , 716,000 212 , 669,000 184,114,000 15,280,000 21,664,000 6 , 666,000 30 , 089,000 ................... 142,629,000 2.675,000 .QJ321Q0 0 638,253,000 869, 730,000 55,695,000 25, 566,000 656 , 422,000 ... ... 118 , 559,000 13 , 245,000 ................... 241,000 869, 730,000 69 . 3$ 71-8# 72.4^o l6 r- 30 days 25,837 1,120 55,682,000 26, 515,000 . ... *. * 542, 243,000 - ,.* . . . 12, 316,000 1, 033,000 464,000 638, 253,000 7 1 . 6# 73-6* 74.1# 31 - 60 days 46,884 1,847 July 14, 1916 • January 14 ,1916 269,602,000 260,855,000 118 , 631,000 85, 630,000 1,970,000 1,215,000 390, 203,000 347,700,000 10,279,000 14.281,000 400,482,000 361 , 983,000 450,000 40,000 23, 968,000 29,498,000 81,130,000 26,258,000 52,589,000 17 , 613,000 , . , . «. % 4,546,000 27,424,000 19,484,000 92,853,000 189,657,000 29,943,000 20, 760 , 000 20, 056,000 12,995,000 8,244,000 639,649,000 „.5L7.6^,000 507,579,000 55 , 176,000 97 , 476,000 54,899,000 474 , 942,000 413 , 719,000 1 0 , 0 9 8 , 0 0 0 1 , 720,000 217,000 639,649,000 69.4$ 71.20 71.858 6l - 90 days 29,546 1 , 6 3 7 2 6 , 8 7 9 , 0 0 0 11,948,000 ........................................... 114,000 507, 579,000 7 9 * 1 $ 8 2 .4$ »3-5$ Over 90 days. 988 3,729 Released for publication Sunday morning January 14, igi'f. Not earlier. ' 968 b. WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TVtfELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JANUARY 12, 1917 (In thousands of dollars) R E S O U R C E S . Boston N. Y. Phila. Clevel. Richm. Atlanta Chicago St.Louis Minnls. Kas.Cy Dallas S. Fran. Total* G.: Id coin and certif. in vault $12,788 153,264 21,606 16,125 5,202 5 ,^ 8 29,216 12,065 9,730 6,389 5,297 15,709 292,829 Gold settlement fund 20,708 35,674 13 ,^ 56. 22,44o 17,186 4,950 31,854 5,159 7,453 26,382 13,619 7,660 206,541 Gold redemption fund 250 5.0 100 ...... '9 152 1,782 228 482 10 156 45 2Q0 100 3 3 , 5^ Total gold reserve 189,188 35,162 38,574 22,616 10,870 61,270 17,380 17,283 32,923 18,961 23,379 501,152 Legal tender notes,, silver, etc. 533 . ^ 6 36 1,304 81 402 568 671 840 2,134 336 207 57 16,769 Total reserve 34,079 198,824 36,466 32.,245 22,697 11,438 62,110 19,514 17,619 33,130 19,363 23,436 517,921 re denapt. fund - F. R. bafok notes 400 100 300 ^^B ills discounted - Members l>483 6~246 862 650 238 24 ,231 470 1,748 3,186 3,765 3,901 729 953 Bills boungt in open market -11*821 2,174 11,413 116,103 4,210 8,974 9,151 _ 3.,46o 6,645 ' 3,294 6,785 .15^169 11,001 Total bills on hand 15,310 4l,4l5 11.863 ...9,801 3,764 7.225 7,396 12.875 7,514 3,127 11,651 140,334 8,393 Investments: IL S. bonds 1,332 534 826 2,669 4,328 2,443 8,493 41,106 2,160 2,203 1,338 7,367 7,413 One year U. S* Treasury notes 1,000 1,726 618 700 9b3 824 2,962 500 1,999 1,969 705 14,857 891 Municipal warrants 806 _ i,5:88 528 2,040 178 848 6l 400 488 9,859 1,682 215 625 Total earning assets 18 ,448 45,663 15,216 19,826 10,593 10,780 24,932 11,233 12,024 13,435 8,338 15,668 206.156 Federal reserve notes - Net 1,071 714 2,314 19,902 13,717 2,086 Due from other F. R* banks - Net 12,690 225 335 ( 4) 11,632 42 2,701 4,091 58 1,973 Uncollected items 10,433 25,042 16,653 8,743 3,866 120,846 6,083 3,640 4,427 8,285 8,792 16,211 8,671 All other resources „ ^$6 . • 242 114 _____ 555 3,776 540 2,420 407 m . .... 903 1,783. ...... 552 . 12 , 261 TOTAL RESOURCES J&J62 283,709 81,928 70.908 41,817 34,786 109>970 44,539 33,459 53 ,5 $ 1 34,011 46,171 889,118 • L I A B I L I T I E S . Capital paid in Gcvernmant deposits Due to ii.3r..bers - Reserve account Collection iteas Federal reserve notes - Net Due to other F. R. tanks - Net All other liabilities TOTAL LIABILITIES 4,990 11,865 5,229 1,037 5 , 3 ^ 2,909 48,944 235,139 49,774 9,742 24,013 962 56,011 7,913 3.361 2,067 26,180 7,396 2,450 2,719 16,328 8,081 6,914 2,657 90,742 2,800 3,644 25,558 9,657 8,629 ---553 __ 2,531 3,606 -3,908 ---282 1,602 - -— 7,267 - _ 49 79 87 --_______ _ __ 64,762 283,709 81,928 70.908 4 l .817 34,786 109,970 44,539 M E M O R A N D U M . F. R. notes issued to the banks 14,004 104,907 F. ’R. notes held by banks ...1,071 13,717 F. R. notes in circulation 12,933 91,190 Gold and lawful money with Agent 14,004 104,907 (a) Difference between 23,376 6,022 16,992 10,6l4 19,194 747 714 1.069 16,245 9,900 18,125 15,692 10,6l4 15,594 net amounts due from and 24,830 7,173 665 2,086 24,165 5,087 20.559 7.173 net amounts due 2,383 2,356 25,758 2,773 169 -_ _ 33,439 3,074 2,689 3,929 558 1,410 2,094 44,247 24,87 4 37,031 M 70 2,527 3,061 1,612 1,179 --- 1,33 2 ______ __ __ 5$ 55.561 34,011 46,171 16,828 19,438 21,511 23,182 14,767 439 1.851 298 321 2.314 16,389 17,607 21,213 22,861 12,453 12,481 17,438 19,601 21,682 14,767 to other Federal reserve banks. 55,706 27,759 680,586 111,238 13,558 ___ 271 889.118 293,440 25.272 268,168 274,512 Released f<..r publication Sunday morning January lH, 191?. Not earlier. 9^3 c * * STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JANUARY 12, IS'17( In ' thousands of dollars) Boston N. Y. $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 7,666 58,073 6,228 3,946 6,906 3,955 1,707 2,672 942 2,226 4,782 1,953 101 , 056 21,214 122,327 24,252 13,714 22, 59^ 31,^25 10,173 19,868 23,558 25,894 30,538 15,76? 361,324 7,210 17,420 7,260 3 ,100 3,400 6,595 3,000 3,040 4,120 4,383 7,356 1,000 Issued to F- R. bank less amount returned to F. R .Agent- #©r redemption 14,004 104,907 16,992 10,614 19,194 24,830 7,173 16,828 19,438 2 i ,5 U 23,182 14,767 ant ft*Id by F. R. Agent in re duction of liability on outstand ing iioteo On hand* Gold coin and certificates 13,150 99,952 3,730 9,980 5,165 13, 230 4,370 10,340 854 4,955 782 634 _ - ^ecerve^fro^thrCom ptroller Returned to the Comptroller Chargeable to F . R. Agent In hands of F. R. Agent Cre dit bajamce s : In gold redemption fund With Federal Reserve Board As security for outstanding notes: Commercial paper Total Amount of commercial paper delivered to Federal Reserve Agent _ -14,004 -- - - - 104,907 - _ Phila- Clevel. Richm. Atlanta Chicago 2,960 St.Louis■Minnls. Kas.Cy. Dallas S.Fran. Total. 6% 8 8 ^ 293. 440 162, 877 494 1,849 163 80« 958 971 1,212 447 7,010 6,510 3,250 14,260 10,130 14,320 4,347 2,000 1,910 1,500 — 18, 928 293, 440 11,180 - - 15,100 15,750 1,300 -- 3,600 4,271 16,992 10,614 19,19*+ 24,830 7,173 16,828 19,438 2 l ,5 H 23,182 14,767 1,300 -- 5,112 4,290 -- 4,348 2,000 2,208 1,587 -- — 14,125 97, 5 # 20,845