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Released for publication Sunday morning, January 14,

PRESS

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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

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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.
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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 *

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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