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R'lljasjd for publication Sunday corning, January 20, 1918. X659, Not earlior, STATEMENT FOR THE PRESS. January 19, 191G, Largo increases in Gov emu. nt deposits, following the pay ment of the last installment oi thv 8-;cond Liberty Loan together with a substantial gain in rea:rvos are th-. outstanding foaturo of the. Federal Ros:rve Board's bank statement showing condition of tho Reserve banks as at clos. of business on January 18, 1918. Now York reports a gain of about 34 n.illions in reserve, together with not liquidation of over 15 millions in certificates of indebtedness and an incroa3o of about 18.2 millions in its bal ance duo to othor Federal Rosorvo banks. Richmond’ s loss of 7,9 rJLllions in roaorvo is duo prii-arily to heavy discounts, also to a decroaoo of 4,1 millions in mombs r bank deposits and a net incroaso of 6,3 millions An its balance due iron, other Federal Ro sorvo banks, off sot to s on.o oxtont by tho gain of about 15 millions in Govornr.ont deposits. Chicago reports a loss of 12.1 millions rosorvo, its gain of 41,8 trillions in Government deposits bei4g more than offset by heavy discounts of paper, chiefly collat eral notes secured by Government obligations, and the purchase in large volume of transfer drafts for the accommodation of its mem bers. Changes in reserves shown for the other banks are due to increasetsin Government deposits or, where decreases occur, mainly to changes in the balances in account with other Reserve banks. Discounted paper on hand shows an increase for the week of about 32.8 millions, Chicago, and Richmond reporting the greateatgains under this head. Of the total, over 300 millions, or al most one-half is represented by paper protected by Government se curities, the New York, Boston and Chicago banks reporting together over 75 per cent of this class of paper, A decrease of about 18.5 millions is shown in the holdings of Government securities, the New York and Cleveland banks reporting considerable sales of Gov ernment securities held as temporary investments. No substantial changes are shown in the holdings of acceptances or other earning assets. Total earning assets increased about 12.6 millions and constitute 69,1 per ijc-nt of the banks1 net deposits, as against 70,7 per cent the week before. ,,0f the total, discounts consti tute 58,4 per cent; acceptances ij4.9 per cent; U. S. securities, 16,3 per cent and other earning assets, 0,4 per cent, Payment by newly admitted members for Federal Reserve Bank stock accounts for a total increase of $335,000 in capital account, the New York Bank alone reporting an increase of $260,000 under this head. All the banks report substantial increases in Government deposits, Chicago, Cleveland and Boston showing the largest gains. Members* reserve deposits fell off at all the banks, declines being largest at the four Eastern banks. An increase of about 10.5 millions in other deposits is due chiefly to the open ing of an exchange account by the Argentine Government with the New York Federal Reserve Bank. Federal Reserve Agents report an addition for the week of $4,957,000 to the net amount of notes issued. Against the total of $1,373,105,000 of notes outstanding they hold at present $796,727,000 of gold and $609,056,000/piper. The actual note cir culation shown by tfie banks totals $1,^38,797,000, marking a fur ther decrease for the week of $3,402,000. Released fo1" pv.b?.iceti on Sv lay moraing, January 20- 1S13. . STATEMENT OF COMBI NED RESOURCED AND LIABI LITIES CF THE TWELVE FEDERAL RESERVE R E S O U R C E S i - ,.■ w.-'.xa cuj.r, and cortific^tdc in v^ult.................. . $477,30l,Cu0 * ' Grotd Settlement Fund - F„ R„ Board. . . . . . . . ................... 363,232,000 Gold A'.'.th i vi’sign agencies.,........... . ............ ................... ' 5 <T. 500*000 Vocal gold hsld by banks.............. ......................... 913 , 033,000 field with Federal Reserve A g e n t s . , . . . . , ....... . .. ....... 796,727 000 Gold rcderv.piion :uad....... ..................... ...................... l!i 1 9 /a o 'o o o Total gold reserves.,............................................... ................ $, 47n nnn J'»e^l tender notes, silver, etc....................................................... '*54*837*000 io «6 sci'v 63 ♦««* « ^ 784 307 000 603 488 000 * ’ ’ Bills discounted for Members and F, R, Banks........... ,. Bills bo-.;?h.t }v open market*................ ............... ....... 257^804*000 Tvtal 3-ws on hand................................................. 861 , 292,000 u„ c, Uoverarnenx long-term securities........................... 4 <s qn nnn IT. P., Go-'smnent short-term securities......................... X~£>Ci dX UvU liij. <-vi.6 \ sr..,iiflg a s s e t s ............................................... 4 224 000 'loiaj. earning assets................................................. j~ 033 737 000 J>„. oth,r F. R. Banks - n e t . . . . . .................... . ... . 35,818,000 1 ' 033' 737' 000 M-c.0Ojfcltcu&d j.utniis. . . . . . . . . 381 708 000 xotaX deduction from gross deposits.................. " ‘ 417 c0A 5$ Pe^nijt-’.on fund against F. R. Bark notes......... . 537 000 A H other resources....................................................... . ^vq'nnr X'O'MC, RESOURCES T ~ 't, !. ! 1 B I L r f l E S 3,236,486,000 Japxva... paia-in.......... , ...................................................... ' fcSnrn.l.ue_______ _____ . . . ...................................................... i n !>C7 er:at.3rt dsposits...................................„....................... 239,829,000 «/ Du© *,0 members - reserve account.................................... .. 42i 563"-tf00~ Collection items........................................................ ]!!.’ .* *221,'728,*COO Other deposits, including foreign Gov’ t credits......... 30.779 000 „ ./> Total gross deposits............................................. 1 ' n qio l z n^ 1*238*797*000 F. R. Notes in actual circulation........................... . F. R. Bank notes in circulation, net liability.. ' q '-w / ' v^ _ , All other liabilities............... ! ................. total l ia b il it ie s . 7 ..... ............... Ratio of gold reserves to net deposit and F. R. note liabilities combined................................................. Ratio of total reserves to net deposit and F, R. note liabilities com bined.................... . . .. . . . . . . . . . J Digitized for'FRASER va / Amended statement. v x'iOv Q a F i i . banks at close $1,696,830,000 *;■ » opt non JO 1,748,0317000 V^JL. , 0 .,, r ~ 236 486"5aa ' 63 2tf * ^ . „ p65,2 X65-fe .^M u a r i .58, 1918. January 11, 1918 (d) $^7 8 ,8 3 9 ,0 0 0 2 6 1 .5 2 2 .0 0 0 5 2 .5 0 0 .000 692,861,000’ 7 8 4 .32 6 .0 0 0 1 9 .6 4 3 .0 0 0 , W .570,665,000 258.710.000 829.375.000 49,506,000' 137.227.000 5.063.000 1,021,171,000 . 8, 00^ of b u s in e s s 28,229,000 306.593.000 334,822,000 537.000 519.000 3,105,080,000 71,603,000 1,134,000 5 7 .8 5 6 .0 0 0 1 ,4 9 8 ,4 8 2 ,0 0 0 2 0 3 ,0 7 3 ,0 0 0 2 0 .3 1 5 .0 0 0 Jc’-nutii y i.8—19, 1917 $286,509,000 212,051,000 498, 560.000 273, 141.000 _ J L 783.000 773. 484.000 10* 338.000 783, 822,000 17, 219.000 108, 447.000 125, 666,000 37, 899.000 18, 314.000 ,_10x 596.000 ..1 9 2 , 475.000 5, 354.000 13iL 116.000 137, 470.000 400.000 ,729.000 1,126,896,000 5 5 .6 4 2 .0 0 0 2 8 .4 1 0 .0 0 0 6 6 9 .87 4 .0 0 0 109.7 34 .000 —— 1.779.726.000 1.242.199.000 8,000,000 . 2,418.000 3.105.080.000 -» « ». 808.018.000 262,967,-000 * +A ______ 269.000 1,126,896,000 63.1$ 82.9$ 65,1$ 8 4 .0 $ r ' T keleaaed ior publication.Sunday n.omiKg, January 20, 1S13. ,)j( t fcd,_x;.ci, WEEKLY B'-CA.T'EM^N-r OF .RESOURCES AMD LIABILITIES OF EACH OF THE FEDERAL RESKR'te ;<ANkS AC CLoJE OF BJSINE3S JAJSAT. (In 'tbOi.'.sai?dr of c’oli'irs. / RESOURCES 3C&?0* N_ Y. PHILA, CLEVEL. RICHM. ATLANTA CHICAGO 3T.LCUIS MINN. KANS.OY. Oo'Id coin en* certificates in vault 14,77?. 318,465 18,759 2j,,146 6,260 br462 31,279 5,021 14,917 l.pOO Gold st-ttleiueut iuiid F, R, Board 37s425 60,639 30,827 45,512 14,390 16,434 77,323 24,076 9,512 2^,335 O d d with toreagn agencies ‘Total grlc* held by hanks Gold with Federal Reserve Agents 0-old redemption fund Total geld reserves Legal xeridei laotes, silver, etc. 3 , 67 3___ 1; .112 3 ,6 75 4 ,7 2 5 1,337 55*872 397,266 53,261 73,383 22,937 43,407 235,700 66,376 61,350 26,360 1,9 8? ' 10,107 1,500_______ ___ . ..... . . _____________43 __________293 ^ 101,266 644,073 121,137 135,281 49 , 6^5 ___I s . J m _ 2,611 1 ,1 6 2 ____ 198 Tot ?1 reserves 106,414 631, 512 T 23 ,743 136,443 49,343 Ei,’ l 3 disc.for fcnibsrs & F„R,Banks 50,623 227,314 31,163 37,573 33,06l 1 ,5 7 5 7,550____ 2 ,I 0 0 _ _____2 , ICQ 24,471 49,226 115,958 3 1 ,"19V 35,303 1,251_______^ 742___ 901 74,92 8 234,333 67 ,~4o6 779 3,594 1,707 75,707 12,695 233,427 106,170 118,133 69,113 28,336 6,241 34,627 Bills bougnt j.rt open narket 6,350 155,570 14,269 13,397 12,536 _____ __________ ___________________ ___________________6,750 9,002 Totf?l hill "3 or. hand - 56,973 382,884 45,432 50,970 45,647 19,445 115,172 U.S.Gov*t_. long-tera securities fl3 o 610 5,541 3,26 1,231 7,007 1,646 2,233 0*S»(jOv . short-term securities 1,491 5,873 1,444 1,969 3,025 39,771 41.1 othe~ o?r^.;ng assets 142 663 _4 606 Total earning, assets 61,932 437 , 696 ' 53,998 99,007 43,939 23 ,250 123,663 3 8, 771 Due from other F, R. Banks - Net 1,399 7,199 20,933 5,596 ... 5,274 -4,761 Urco’*1c.c+ed i*6is 23 , 570 33,395 ^6,772 23,089 19,313 22,305 61,375 13,436 2 -rial dtduc ;' 3 . from gros* dep1t s 311^69" S3-395 53,971 44,027 24,909 22,305 66,649 23,197 6/S> Redemption tunA against F.R.Bk.notes .. A H ether resources 239 95 _____ '33 !!! 10IAL RESOURCES 193,315 1203,103 231,717 279,477 123,980 121,857 433,777 131,031 L \ a B J f, 1 •£ I E S 5,906 18,973 6,775 8 , 06s 3,697 2,356 9,142 3:4 75 Cr.jl.t3C paid-'.n SUi'p.LUS 75 649 ....................... 116 40 216 Governrr.ent deposits 25,374 21,-33 19,361 45,094 14,038 5,222 45,446 8,874 Dv-e to ir.sn.ber 3-re serve account 70,356 645,384 30,622 104,685 40,803 33,671 175,295 49,954 Collection ii;enjs 16,244 66,244 32,990 16,175 14,073 13,336 20,534 11,114 Due to other F.R. Banks - Net *^ , 2o9* * * -* « -« 254 ... ... Other deposits incl.for.Gov.credits . . . 24,809 .... 70 ... 3 2,813 299 Total gross deposits 112*474- 783'209 132,973 166,024 63,919 57,936 244,143 70,241 F. R. Notes in actual circulation 74,632 398 6l0 91,523 105,282 51,245 60,975 130,276 57,142 F.R.Bk.notes in circula. net liab. . . . „ „, ... All other liabilities 17 S ■ > £57 146 -101 m . TOTAL LIABILITIES 193,315 1203.103 231,717 279,^77 123,930 121,357 433,777 131,051 % Difference between net amounts due from and net amounts due to oth^r Federal Reserve Banks. Digitized forIFRASER 2,625 26,525 . 27.460 37,621 43,422 .1 , 1 2 2 473 ' 65,272 76T 350 532 54 65,854 76,414 12,505 29-513 2,687 35 *559: 13, IlSx S. DALLAS SAN FRAN. 10,105 26,617 16,310 26,S93 38 3,23 2 1, o3o_____ 2 ^ 3 3 _____ 52 , 500 28,251 23,392 1,25c 53,401 1,203 54,604 8,649 15,192 29,553 15,531 2 2 ,ioU 2,214 3,862 5,7 84 2 ,4 5 0 1,673 1,001 77 j 20,035 5,331 ^ 4,199 14,212 20,043 32,043 40,193 400 21,162 105,932 l 6 l ,2 l f 105,327 3,396 2,799 3,155 2,643 33 11,814 ... 13,189 33,212 4,075 10,409 iL 54,114 49,172 -•15 .105,932 70,019 21 93 , 63s 55,352 3,000 325 161,211 TOTAL 477,301 29,924 2,417 18,745 137 56, 39 s 913,033 49,if32 796 , 7 2 7 ____ 38 19,710 105,863 1,729,470 360 54,837> 106 , 22s 1 , 734 , 3 0 7 > 25,826 603 , 455 * ; 17,336 257,804J 14_£,.212 361,292 , 4^13/ ' 2,455 iggTg 1-& 1,500 4,224 V _____ 56, 47,223 1,033,737 £ ... @3 5 , SIS00 17,453 331 ,7 0 8 ' 1 7 ,4 5 3 4 1 7 ,5 2 6 537 J _ _____J l!1 170,911 3 , 236,436 4,203 71,938 1,134 5,110 21,824 239, 829 b/ 4 2 ,S^-*5 64,192 1,421,565-7^ 6,472 9,512 221,723 209 2,746 J 9.J7? 57 , 44f-(.093,433 1.913. 45,510 63,225 1.233,797 S'? 105,827 5,ooc 170,911 3 , 2 3 M s | ) a s RelU-ieed fcr publication Surdo.y morning January 20, 193 s . j,T0t >dr]nr, STATZvEir OF 3EDERAL RESERVE AGSELJTS: ACCOUNTS AT CLOSE OF EUGI1:TESC JANUARY 13, ,1^1 Z. xf>5yc. (Iii thousands of .dollars,» . ZSTERAL RESERVE NOTES: " oeived f vol * «jomptrailer, Tietv m ed t ' nkTipt r*o11 or , w is--.*l^ lo_l w Jb» Jri. — eat j .in hands oi j<\ .tu Agent, T£':'\;-:d c T7* P, B.ink. less urn, rob'uined to F. R. f\{?ent icr redamption, BOSTON NEW YORK PHIIA 105,460 x2j yJ 20 on ~Z. 1 OH A7n 1 r'> e *C ) I OLEVE. HIGH. Ijj.'JoL / , y100 f". S’ -tr\ 107,256 109,300 9,760 124,090 15,440 79,307 477,S41 93,096 33,110 4,297 134,277 12 ,.423 40,000 241,141 4,220 5,232 56,924 31,720 71..30J. 477,341 93,096 36,700 33,036 24,927 537,641 5,120 ir- orr-fr- ATLANTA, CHICAP-0 ST. LOUIS MIiV S9,62 0 2^0,1(30 (3?b5C 67 >S^G -1 -1 _________ -1 62,215 72,512 4,420 105,650 57,795 on hcaid, TOTIL OF ELIGIBLE PAFER D£— T .T '^ M TO 17, R. AGENT, 6,000 39,^00 241,166 _ ...... TOTAL 1 , £63**540 J 1J * fr.2f ».-/f,P 13,120 232,637 43,150 65,190 5,675 57,507 6,S40 65,392 153,457 59,515 50,967 Ul, 2 oL 3,604 3,202 1,360 35,000 25,000 . *2,420 46,500 31,435 16,166 *• * *• • 75 2,405 112 , 05s 32,903 71,324 24,207 13,102 2,019 22,500 13,346 * • 3,333 3,526 45,360 5,974 45,906 12,240 -21,396 29,103 / . .r, , -< £ .*. jei__ 105,650 57,795 65,392 159.*+57 59,515 50,967 61,262 45,755 7 0 , R3 5 1,373,105 50,970 45,729 l 6 ,b 26 26,922 14,342 12 , o4o 22,150 36,214 6 ~ 056 *5,1 S3 73,535 5,410 —--271___ 0 10,310 1,373,105 1 ^4.^02 CuLIAIoIFAL xIELL AS SECURITY FOR OTJTSiMKDT'TG NOTES: Gold coin j/id cert if icat~cGold ^ ■'d^mv-ion fund. f und, E .R , B oa rd, ?tt: . _ FANS OY- DALLAS. SAW FBAH J?, 7*4-0 60 , 500 o5,l40 _ < , , , »jw y.uv^; 70,262 ’ 55,593” 73,535 21,107 5,743 72,263 9,000 2,562 10,105 h-^)f'fuu .. 72,535 -•- ^ r • 14,520 1 , 605,565 232,460 1 , 373,105 274,000 46,132 476,545 576,37c M E M O R A N D A FEDERAL V. R«, Motes outstanding, i . R- Notes held by banks, F. R. Notes in actml cir culation, RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. 79,207 477,341 5*121. _ 73 .231 93,096 6,273 102,650 57,795 65,392 4,417 129,457 59,515 6,547 74,632 91,323 105,222 51,245 60,975 130,276 57,142 393,610 3,365 9,131 2,373 50,967 1,795 49>172 61,262 55,352 45,510 62,225 DISTRIBUTION OF BILLS AND WARRANTS BY MATURITIES. Within Bills discoraitod and bought, Municipal warrants -f Digitized forAFRASER 15 days 360 , SbO 141 16 to 30 days 150,753 510 31 to 60 days 188,712 131 6l to 90 days 117,153 Over 9G days 13,77S 335 Total 361,292 1,117 1 . 235,797 Xo>Qd Not earlier. Releasad for publication Sunday m-*>ming j'unvury 20, 1$1 3, SEATiS/IaL£T POE THE PHE53 January ?.S, 191S Reports from 659 member banks ir. 101 cities, reflecting condition as at close of business on January 11, (as against 640 b&nke, jn 96 cities heard from the week before) indicate net decreases of about U3 millions in Government securities owned and of obligations. 32 millions in loans secured by Government For the New York City banks a decrease for the week of about IS .3 millions in Government securities owned is shown, while loans secured by Government obligations fell off about 35*6 millions. Loans and investments in the aggregate show but little change, while loans ~nd investments of the 56 reporting New York banks show a decrease for the week ox about 35 millions, Government deposits declined about 131,4 millions, withdrawals being heaviest at New York City« Large portions of the funds withdrawn were deposited to the credit of the Allied Governments, chiefly at Now York City banks, Accordingly, aggregate net demand deposits of all reporting banks shew an increase for the week of 272.4 millions, of which 111,3 millions represents the increase in demand deposits reported for the New York City member banks. The ratio cf loans and investments to total deposits of all reporting banks,which the week before stood at about 105 per cent, has gone down to 104 per cent, while for the New York banks this ratio has declined from 100,7 to 99*9 par cent* Reserves with the Federal Reserve bank show an increase more cr less commensurate with the gains in demand deposits. Of the tot^l :;e*’ serve account of l,49o»5 millions shown for January 11 by all Federal Reserve Banks * the share of the reporting banks is slightly over SO per cent, this ratio continuing fairly constant from w^ek to week. For the reporting banks in the New York Reserve district this percentage runs as high as 95 P~r cent.. Little change is shown for cash in vault and time deposits, The ratio of combined reserve and cash in vault to total net deposits of all reporting banks remained unchanged at about 15 per cent. For the Hew York City banks, ,owing to substantial increases in reserve and cash, this ratio shows an increase from 15*7 to 16.5 Per cent. T x659c Not earlier-. BrtWWd f i LIABILITY R M OF M M13KS LOCATED B « p L BESEEM, EES5EVE Ai.D OTfiEE SELECTED CITIES AS AT CLOSE OF BUSINESS JANUARY 11, 1416. 1. Data, for all reporting oaiiies in each district, : MSMBER MMCS No. reporting bulks U. S, Sec. owned Loans secured by U;S. Bonds and certifical All other loans and investments, Beserve with J. 2. Bank, Cash in vaul t . Net deiaund deposits on which reserve is ccciputed, Time deposits, Gov11. deposits,_______ BOSTON 35 29 , 951 NEW YOBK 436> 575 PHILA. CLEVE, ' RICH. 46 75 2S,9?o u.o»i65 41,446 40,962 231 .SSS 25,163 96 550,369 75,356 39,73Q_ 2 D J o . r e p o U . S . , S e c u r . L o a n s l l g & C o t h e r i n v e s t m a t a f o r l o a n s C a s h v a G . S u d e c i a n d o n w i s c c t i p u t # ^ h i c h 1 4 3 i n , ----- J a n J . 4 , 56 , 9 F . R . B a d e p o n 2 5 4 6 2 , 2 0 0 2 0 9 , 5 5 1 2 4 5 , 1 6 9 k . 602,146 120,677 571,35* 116,5*7 C e n t r a l a n . 1 R e s e r v e ST.LOUIS 1 , 37 35,043 J a n c i t y 15 21,71k n . 2 1 , 4 1 0 7 , 3 6 9 29,7*5 3,996 DALLAS 41 659 970,739 30,966 29,763 3,721 1,592 2,447 3,349 4,910 264,515 1 , 323,962 363,504 137,123 33,113 24,635 69,366 1*,999 1*,759 235,711 19,269 10,350 196,413 473,304 46,37^ 20,046 20,176 43,513 25,233 207,211 1 , 011,945 223,977 332 , 00s 79,314 66,276 2 .16 L .,, 7.6. S.6l 11,257 176,592 43,207 196,133 41,55^ 23,691 3,379 7,572 35,231 , b a n k s i n a l l o t n e r 1 1 ------- J a n - 10 s 4 107 5 0 0 , 7 4 2 5 1 3 , 7 1 2 2 3 3 , 3 3 0 2 7 3 , 6 1 1 729,931 17^,560 698,540 .172.871 B o s e n r e 10,322 c i t i e s a u d OTHER RESERVE CITIES JcLXk*11 , ”— o t n e r 14,129 3 13 d ,22$ 127,225 21,155 4 , 417,511 4,319,S17 703,563 2 , 0 5 9 426,136 416,529 214,743 * 214,155 46,272 36,031 3 , 632 , 216 *3 , 497,257 531,234 1 9,935,131 1,202,339 425,334 o a n k s TOTAL Jou. 11--Jan. 4 COUNTRY BANKS Jaja. ll-^-— Jan. 143 l*+0 333,291 393 391. 357,392 9,081,418 37,716 1,353,5*7 41^.013 i * ,* 5 3 _ r e p o r t i n g 4os ,3 2 7 , 93s TOTAL SJUJ FRAIf 13,133 339,106 256,402 4309,052 4787,169 93,040 4 4 ,88J zz KANS,CY. 6s 43 53 , 677 TOTAL CENTRAL RESERVE CITIES J a . 1 1 MINN. 34 3*.750 3,315 12. ST.LOUIS 0 6 1013,779 39*^11 423,232 , 7 22,996 640 659 ,739 *721,704 9935,131 * 9323,690 * 43,176 1202,339 * 1163 , 245 . * 39,234 425,334 * 426,310 < s i t s r e s e r v e d e p t w e a c h 50,735 C H I C A G O Y O R K 3 , 7 1 3 . 5^ 3 , 606,579 3 , 962,030 3 . 350,703 d a p a s i t . * , o v ’ t , . 1 b a n k s a n d l t , e t 694,072 274,632 204,693 45,443 35,629 90 7 i ,m . e n t s , i t h T i c i e U e r t i f i c a t e s w N 4 b y n 56 o w n e d . R e s e r v e i n a b a n k s , s e c u r e d B o n d s A r t i n 4 , 347,335 6o4,4o2 326,935 26,054 141.211 N E 1 7 N 25,199 139.10S 34 3.2,561 336,395 312,721 25,933 30,324 44 , 26s 22,522 24-, 355 CHICAGO 11,465 22*113 663,609 4,123,136 633,093 635 . S06 64,736 55> 332 ATLANTA i t s , 234,324 235,448 125,035 227,279 702,317 203 , 6a 4367,963-47^, 567 135,570 62,902 432,796 474,053 51.625 9,713 136,433 295,339 4&«&4«4 * Aocondcd figures 723*5*3 * 7U7.55S 210 , 775 ' * 230,611 * 5 6 7 , 2 1 7 9 0 3 1 , 4 i s 147,373 * 161,977 1353 , * 21,310 * 23.939 * 3 3 0 9 , 0 4 1 13 ^3,5 3 3 410,013 * 550,439 Released f«r publication Sunday morning January 27, 1918. X676 N*t earlier. STATEMENT FOR THE PRESS January 26, 1918. Heavy withdrawals of Government deposits coupled with substantial increases in member bank reserve deposits mainly at the four Eastern and the San Francisco banks are indicated in the Federal Reserve Board's weekly bank statement issued as at close of business on January 25, 1918. Aggre gate gold reserves shew a decrease of about 3 millions while total cash re serves fell off about 1.5 millions. New York reports a gain of 35.2 millions in total reserves accom panied by an almost equal increase in member bank reserve deposits. The bank liquidated about 26 millions cf investments, mainly U. S. certificates of in debtedness, held temporarily for the accommodation of member hanks, and col lateral notes, secured by Liberty bonds and certificates of indebtedness; it also paid off an aggregate balance of over 25 millions in account with other Federal Reserve banks. Chicago’s decrease of 34.7 millions in reserves is due largely to the withdrawal of 31.8 millions of Government funds, also to an increase of 5.3 millions in investments. Changes in reserves reported by other Banks are due largely to the withdrawal.* of Government deposits or, to the shifting between banks of credits in the Gold Settlement Fund. Bills discounted on hand show an increase of 24.2 millions, the Cleveland, Chicago, Kansas City and San Francisco banks reportirig substan tial additions to their holdings of members banks' collateral notes, secured largely by Government obligations, Of the total discounts held, the amount of paper secured by Government obligations is 312.5 millions as against 300.3 millions the week before. Holdings of Government short-term securities, largely certificates of indebtedness, show a decline for the week of nearly 50 millions, the New York and Cleveland banks reporting the largest sales of this class of securities. Acceptances held increased by about 16.1 millions, Boston and New York accounting for practically the entire increase shown. U. S. bonds on hand show a gain of 4,6 millions, mainly at the New York and Minneapolis banks. The inerease of over 1 million dollars in all other earning assets shdwn by the Chicago bank is due almost entirely to the purchase of warrants. Total earning assets decreased about 4 millions and represent about 69 per cent of aggregate net deposits, as against 70.7 per cent the week before. Of the total, discounts constituted 60.9 per cent; acceptances 26.6 per cent; U. S. securitiesj 12.0 per cent, and ether earning assets, 0.5 per ce»t. Payment for Federal Reserve stock by newly admitted members ac counts for an increase of $501,000 in the total of paid-in capital, N#w York and Cleveland reporting the largest additions under this head. Over 23 per cent of the capital stock of the Federal Reserve banks stands at present in the name of State banks and Trust companies. Government de posits show a decrease ef 104.1 millions, all the banks,except Atlanta, St. Louis and Dallas, reporting substantial withdrawals of Government funds. Member banks' reserve deposits increased 59.2 millions, the Boston and New York banks showing the largest gains under this head. But little change is indicated in the total amount of Federal Re serve notes outstanding. Against the total amount of notes issued to the banks the Agents hold collateral of $793,819,000 in gold and $634,363,000 in paper. Total Federal Reserve notes in actual circulation show a further decrease of 53,663,000 dollars. The ratio of the banks’ xotal reserves to their net deposit and Federal Reserve note liabilities combined shows a rise from 65,2 to 65.4 per cent. V ' January 26, 1917 3 0 2 . . 3 4 1 . 0 0 0 213 771.000 516,112,000 2 73 . 320,000 1,813,000 751 . 245.000 _ 1-7,5731OOP. 808.824.000 15 , 711,000 -.9Zi.6ar,pop 113.408.000 36,122,000 19 . 647.000 12.249.000 181.426.000 (a) 4,128,000 «Y 126.437.000 £ 13»>56Qt^OQ 400,000 ___ 11,609,000 1,126,573,000 0 HE S O U R C E S January 25 , 1918 January 18, 1916 Gold coin and certificates in vault......... . . » ................ $% 72 , 012,000 $ 477 ,301,000 328,210,000 383,232,000 Gold Settlement Fund - F. R- B oard ...................... ........ Gold with foreign agencies...................................... . ....... 52.500.000 52,500,000 Total gold held by banks.......................................... 912,722,000 913,033,000 Gold with Federal Reserve Agents.................................... 793,229,000 796,727,000 Gold redemption fund.......................................................... 19.956.000 1 9 [710!000 Total gold reserves................................................... $1,726,507,000 ’ ‘ $1 , 729 , 470,000 Legal tender notes, silver, e t c . . . . . . . . ....................... 56 . 252.000 54,837,000 Total reserves............................................................ 1,782,759,000 1,724,307,000 627,662,000 603,488,000 Bills discounted for Members and F. R. Banks.............. Bills bought in open market.............................................. 273.912,000 25?!804^000 Total bills on hand................................. ................ 9 0 1 ,^ 4 ,0 0 0 861 , 292,000 U. S. Government long-term securities........................... 50, 525,000 45]91l[oOO U, S* Government short-teim securities......... ............... 72,669,000 122,*310*,000 All other earning assets,.................... ; ........................... 4,^02.000 4]224!00Q 1 , 029, 670,000 1 , 033 ’ 7 3 7 ’ 000 Total earning assets................................................. Due frcm other F. R. Banks - net................ . .................. 32,505.000 35,818,000 * * * Uncollected it m s ............................................................... 3 23 <703.000 3 21 ’, 70 s! 000 Total deduction from gross deposits......... ......... . 356,208,000 417,526,000 % Redemption fund against F. R. Banknotes................ 537 ,000 537! 000 All other r e s o u r c e s ..,............................................ ...........201,OOC 379*000 TOTAL RESOURCES 3,169,375.000 3 ^ ^ 4 8 6 ,0 0 0 L I A B I L I T I E S J J ' ’ Capital paid-in............................... .............................. . 72,439,000 71,938,000 Su^ lus...................................... .............................. * .......... „ 1,134,000 1,134,000 135,691,000 239,«29,00(^- 7 (0 Government deposits....... .......... ................................... . Due to members - reserve a m o u n t..,,............................1 ,4 8 0 ,7 4 3 ,0 0 0 1 ,4 2 1 , 563^00 Collection i t e m s . .. , . ........................................................ 194,955,000 221,728^,000 Other deposits, including foreign GovH credits......... 37,697,000 3 0 !t79!000 Total gross deposits......... . ............................... . . . . 1,843,086,000 * 1 , 913,3997000 F- R, Notes in actual c ir c u la t io n .............................. 1,234,934,000 1,238,797,000 8,000,000 * s'ooo'ooo F. R. Bank notes in circulation, net liability........... All other lia bilitie s.............................................. .. 3.782.000 a ^ ie r C o c T 0 TOTAL LIABILITIES 3.169.375.000 f tZ$£,486,000 Ratio of gold reserves to net deposit and 1 . R. note liabilities combined.......................... ...................... 63*3 $ 63 . 2$ Ratio of total reserves to net deposit and F. R. note liabilities combined................................................ 65*4# 65 -2$ , (a) Net amount due to other F. R Rinks. 25 , 191 a. o Released for publication Sunday morning, January 2f, 1918Not earlier STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JANUARY 55 . 634 .000 »« V 25 . 607.000 687.841.000 37.374.000 210,822,000 253 , 768,000 * %« 229.000 1 , 126 , 573,000 8 4 ^ £ fb. f 3 Released for publication Sunday morning January 27 , 19IS. Hot earlier. -:676b WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE ftAwire AT CLOSE OF BUSINESS JANUARY 25, lylo* t h o u s a n d s K c t o O U R C E S : G o l d c o m a a d c e r t i f i c a t e s i n Gold settleraent fund F .E .B^rd, G o l d w i t h o f d o B O S T O N f o r e i g n a g e u c i e s 1 3 , 8 6 5 3 4 , 2 9 0 J j i Z S l l a lh r s Y . ) , P ' 3 1 7 , 0 7 2 9 ________ 1 7 , 1 1 1 8 1 2 , 1 ? },8l? ^ Gold with Federal Heserva Agents ^ ,3 5 4 236,^67 G ^ Q 9 8 T o t a l o l d g o l d h e l d b y r e d e r u p t i o n T o t a l L e g a l g o l d f u n d , r e s e r v e s t e n d e r T o t a l c a s k s , n o t e s , s i l v e r , e t c . B i l l s d i l l s b o u g h t , T o t a l i s c b . f o i l l s U . S . O r o v t . r M e m b e r s o p e n o n h a j a d , l K i i i - & F . R . B a n k s 5 c i a r k e t , t a i M 2 3 e c w i t i s a l l o t h e r T o t a l D u e U f r o n c o e a r n i n g e a r n i n g a n F o t h e r l l e c t e d a s s e s s e t s , , i t a n R . , o t h e r C a p i t a l 6 B u n k s - 7 , 1 C o t o l l e c t i o D u s t o O t h e r . R . F . f i . 2 k A l l n i t e m o t h e r F » 2 2 g r c s s d Notes notes . l i a e p 7 1 B a n k s o l . f o - N a t . G o v c i r c u r . c r e d a l c i r c u i l i t i e D s l a t i o n n e n t , - l , i f f e r e n J , 3 . 2 3 9 0 , 8 9 8 4 7 , a 2 0 7 , 7 4 5 , 6 i a 9 , 2 2 , 4 8 0 , 8 3 2 1 6 4 2 3 8 c e b e f . / e e n 6 , 2 2 7 1 2 d u e , 0 7 2 3 6 , 8 9 1 , 5 7 7 2 6 7 , 9 * 7 4 3 , 2 ^ 0 6 l 0 6 2 9 , 0 2 5 2 , 0 8 4 . . . , 0 . 1 8 1 3 . 4 0 3 3 g 4 5 ^ 1 5 7 . 2 3 1 0 , 3 3 1 , 3 1 8 3 1 , 9 2 2 1 0 1 0 8 1 5 , 4 2 8 ~ T l 9 7 , 0 5 , 8 , 6 5 , 0 4 5 2 ^ , 0 1 8 1 1 3 . . . 2 0 5 4 2 , 4 0 3 0 , 7 J 7 1 ____ - « 1 3 2 , 8 5 4 2 , 9 7 9 4 3 7 , 6 9 6 , 2 6 1 1 7 5 9 2 5 . . . , 2 1 8 , 6 , 8 5 7 6 1 , 9 0 5 5 4 , 8 7 9 , 7 6 5 3 , 1 4 3 5 9 , 7 3 9 * 3 0 5 0 , 5 o t h e r 1 Y , 3 2 4 2 S 9 2 7 1 , 1 1 0 3 2 5 , 1 0 4 2 0 4 3 4 , 6 2 7 , 5 3 2 2 4 5 3 2 2 1 7 , 0 5 2 0 8 4 8 1 2 2 , 1 9 2 0 1 0 3 6 , 2 • 5 1 0 3 ; £ F e d e r a l 152 7,943 a n , 6 2 3 . 9 1 5 5 , 3 4 5 2 2 , 4 9 1 ^ 7 4 , 4 2 = 3 3 8 _____ 2 1 0 1 , 2 5 , 2 7 l d 9 o 9 , 3 2 6 3 1 2 ' j 4 8 , 9 9 8 , 3 , 0 1 1 2 5 . 7 2 _8 1 6 2 2 793i829 3 1 , 7 1 9 2 6 , 5 5 r 5 2 . 8 8 8 4 2 8 " 1 , 7 8 2 6 0 , 2 5 , 7 5 2 2 9 6 2 7 , 6 6 2 6 8 2 2 0 9 7 0 3 1 , 9 , 5 1 7 2 4 , 8 6 2 4 , 0 7 1 2 , 4 5 5 5 0 , 5 2 5 , 7 8 4 2 , 4 3 0 1 , 5 0 0 7 2 , 6 6 9 1 , 0 0 3 , 2 2 7 6 2 7 3 6 ” , 7 2 1 3 3 , 8 1 1 5 , 7 8 9 . 4 1 5 9 , 0 1 5 3 >396 * ♦* 2 6 l 5 1 2 0 , 2 5 7 55.278 8,000 40 . . -365 _ _____ 6 1 , 9 6 l 3 , 1 , 0 2 ( a 1 5 , 0 9 ) 3 0 6 4 6 3 , 6 2 6 7 1 3 7 2,796 *** 5*830 %* • 44,617 ♦»» 25„. "1 6 9 , 1 1 2 , 9 0 . 7 0 5 3 3 5 . 3 7 , 5 0 2 3 5 3 7 . . . ____________________________________________ 1 0 5 , 7 5 9 11,038 10,274 42,147 «• ? 5 2 7 3 4 1 2 9 , 9 7 6 8 0 , 9 ? 5 » %• 21 91.976 58,251 s / 1 5 9 7 3&8.21Q , 9 46,13^ 5 1 9 5 3 , 2 ^ 6 4 4 5 5 5 , 0 6 1 5 0 4 , 5 5 l S 28 §2,028 ^8,930 • ** k i 5 73,366 7,551 »** _ 254.. B 0 2 38,814 3,573 1,670 73,585 R e s e r v e 8 ? 38 111 8 1* o q 2,651 4 ♦• 3 9 0 7 ______________. « . _______________________________ _______________ . . . 1 3 3 , 3 3 1 6 4 6 , 0 8 7 , 2 , 3 T O T A L 2 6 , 2 3 1 - 8 7 . . . 5 , 1 6 4 2 , 3 9 0 22,lgX 3 5 7 2 1 , 1 5 9 6 1 , 3 1 2 Ug,3fi9 7 , 3 0 5 0 ifM * 4 3 , 1 D A L L A S Y K A * J . 9 3 , b 1 6 , 2 . 0 , 6 6 2 7 ~ 180,165 56,061 _____ 2 9 2 t o , 4 9 . 8 3 7 . . d u e 3 S . C 8 3 8 2 , 2 3 3 1 208,327 4 6 o u n t s . 9 .. 2^80., _________________ ______________________ 3 0 a m 5 »• m 2 2 5 1 n e t 0 3 0 1 < * n d T 9.170 3,481 * ** 216 13.603 11,619 173,351 ^9,015 18,793 12,840 0 2 2 1 , 1 , 8 5 0 2 3 2 9 , 9 6 6 3 9 8 , 0 3 0 1 . 2 1 37,522 7 H 1 , 5 5 4 , 3 3 6 , 3 1 A 1 . . . , 1 4 . . . 0 t 9 5 7 7 7 0 . ^ 4 , 5 6 2 6 3 1 1 ^ 9 1 3 K 6 . 2 8 0 8 . 7 9 2 , 7 , 2 f o T o o B 7 s 5 6 3 3 ^ 1 , 9 4 , 5 2 . . . , 1 2 0 4 l K ) 6 3 1 , 4 7 , 5 3 3 2 9 6 1 3 0 1 1 8 , 9 0 0 1 4 . 5 S 0 " 7 S , 1 , 1 0 N 5 2 6 ^ 6 5 6 t 5 2 1 4 . 6 I H 1 " 1 1 0 , 9 2 - 2 4 9 * 2 ? 1 6 , 7 2 M ^4,gg2 /frST 0 3 , 4 2 I S 0 4 1 1 0 2 1 g , 8 , 9 4 2 . . . 2 6 0 , 1 2 6 , 2 9 1 4 2 5 4 120,514 ' 1 4 7 1 9 1 3 1 , 9 6 9 1 8 , 6 0 9 ^ , 3 U U 7 U 5 8 1 5 . £ , 1 9 , 0 7 S T . L O 4 f ? \ 5 7 6 8 , 9 2 3 0 2 1 , 6 5 3 , 5 9 5 7 4 , 9 2 8 2 1 3 3 8 7 1 7 ^ 7 5 7 8 7 ^ 4 H 7 f r o m 3 i . l | g 3 1 7 6 ^ 9 C H I C A G O 1 2 4 , 9 9 9 4 7 , 0 1 7 § 8 , 0 1 , 5 . 6 6 5 , 9 2 2 * * 4 ........................................... 3 7 1 . . . 0 3 9 7 , * + 6 2 , 8 6 2 5 I 8 , 2 6 5 1 7 8 = 7 2 4 , 7 2 2 1 2 6 , 2 7 1 7 1 4 o c i c y n t s , 7 2 , 2 7 5 ------- " n e t . 9 4 2 4 <£>\3 3 2 2 4 7 5 6 6 6 , 8 5 ___________3 0 0 2 . 3 «■« « , 8 b , 0 1 . . . 0 4 7 1 , 9 8 9 3 8 , 9 1 2 5 . 9 2 5 4 9 , 3 6 0 . . . 8 7 5 0 , 5 , 2 1 5 7 , 3 2 9 6 2 , 3 1 , 3 1 2 6 1 0 . . . 3 1 9 . . . 8 0 5 2 5 , 3 0 7 3 1 2 0 4 , 0 6 7 7 , 8 5 1 1 1 1 1 1 3 3 1 7 0 4 . 1 7 Q . . . 4 2 1 9 . . . 1 l a t i o TOTAL LIABILITIES, ( a ) 8 . . . 9 » 2 9 5 7 3 . . . 2 , 0 7 8 3 9 5 , 9 i t s , s i t s , a c t u i n b a c c o u n t , s , c 2 6 , 2 7 , 1 A T L A N T A . 26,305 47*575 2 2 , 6 2 0 5 4 , 7 . 6 , 2 5 ? 6 1 2 , 2 4 3 2 2 64>6lO 6 8 5 4 8 5 0 0 2 ----- Z 5 ± | 9 6 4 9 5 r e s e r v e i n i n o t h e r 5 5 , 1 6 64,916 ________ 1 , 1 7 0 R I C H M , 3 2 0 , 4 6 1 I 1 . 6 4 0 6 5 * 2 7 1 t ,____________ _ ♦ » » ■ s i t s , . ^ 2 6 1 4 1 8 7 , 0 3 0 5 . R d e p o s i t s T o t e a F d e p o 0 . C L E V E L . 5 9 ! 6 6 1 3 6 4 4 7 5 e n t 0 . S O ^ i * e t s , i n , t i e w b e r s - 7 1 1 0 5 r e s o u r c e s , p a i d - , 0 . 1 . ___________ s , G o v e r n m D u e 4 5 1 t s , TOTAL RESOURCES, L I A B I L I T I E S , S u r p l u 5 7 3 7 8 , 7 5 2 7 , 3 4 4 5 J & l l 6 0 6 1 0 4 Total deduct1s.frcm gross deposits lb, Ttedxaoption fund against F.fUBk.riOies A 4 4 P 2 , 1 U.S.Govt.sfccaft-terci securities, A 8 , 8 . 3 6 s , 1 1 3 , 5 3 p 1 0 i n O I L A 3 7 , 1 9 2 , 2 9 5 _ 5 , 3 4 6 r e s e r v e s B O H 1 8 , 7 9 0 _ u p o rtT rtjr- iM s » l 6 2 0 1 9 l 3 7 5 4,217 72.439 1»13*» 16,457 135.691 69,184 1,480,743 9,284 194,955 * ** -• «. 4« • 2,448 37.697 97,373 1.849,086 67,481 1,234,934 « 8,000 41 _____ 3 i ?S2 I R e l e a s e d f o r p u b l i c a t i o n S u n d a y m o r n i n g J a n u a r y 2 / , 1 9 1 8 - N o t o a r l i a r . S^TIMHJT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JANUARY SED&BftL RESERVE NOTES: Received frcm Comptroller, fieturned to Comptroller, F. F, C h a r g e a b l e I n h a n d s I s s u a m e d t o o u n t t o R . o f R F < R * . A B A g e n t , g e n t , a n k , r e t u r n e d t o P ( I n R I R A p t i o n , S O U T S T A N D I N G o l d c o i n a n d c e l l a r s 25 , 1913 . ) . CHICAGO ST,LOUIS MINN. KANS.CY, SAK FM N, 24u,lSl 73,860 67,980 82,740 6s , 500 8 6 , % ^ . , 1 , 875,661 , _ _ Y ,« b 2 _ 8^896 10,272 12,648 1 2 ,7 57 6 ,6 /2 _ 2b l, 0g4 1 232,319 IT4,964 57 , 70 s 70,092 5 5 ,7 % "so , 2^ “ ' iT 6 i4 ,6 fiT t 41.980 6 . 62S____ 6 , 240 __ 10,220 1 0 , 87O J 241,035 D A L L A S :9?L236j.03 14l0_6l 1275_6lLg21^__190l339__ 5 g ,3 3 9 _ _ ^ 0 1s6s _5*3,872 N t e s = g g ^ f E L I V E R E O L I G 1 0 I B F * 4,220 ... 3 , 6o4 .................... 5,593 1,305 2,351 427 2,379 35,000 25,000 41,020 120,087 32,503 43,800 54-,970 16.246____ 6j,_gi5_, 23,457 24,017 5,167 40,000 241,140 55,529 32,320 L E P A P E R 13,102 1,920 22,500 2.50Q 45 SoO 1 1 1*503 13,346 R. A G E K T , = - ^ n i ^ ^ ^ g l g § . ^ O g l ^ g ^ l - 3 6 , 7 0 3 2 4 5 , 7 8 0 3 F E D E R A L . S . F F N o t e s . R . N o t e s h . R , N o t e s i n 7 , 3 2 2 6 c u l a t i o n b y a c t u " b a n k s , a l c ? 5 _ g . 1 g 2 1 ^ _ 1 9 0 . 3 3 .. 4 ,4 /s 6 2 , 3 3 8 4 _ i t i 8 8 2 _________8 0 , 1 4 N O T E S 5 , 6 e 5 7 m o 1 6 , 3 r a 0 3 n O U T S T A N D I N G 7 d a i l l ® 97*236 108,410 61,275 63s821 5 ____________ 5 j l 8 0 6 3 , 6 5 4 8 , 1 3 2 4 . 0 8 0 , 7 5,174 4i ,666 2 2 ,692 34,104 44,873 80,2^8 1 ,3 7 3 . 6^2 1 2 , 8 5 6 22,762 41,664 634,363 59 . 8/2 3 44»873 80,2^8 1 ,3 7 3 . 6^ - 25112J57..„_... 138; 698 55 , 27 s 44,617 9 5 8 , 3 3 9 5 0 , 8 6 8 5 6 2 8 3 1 4 7 7 , 0 2 , 1 0 276,894-0 4^,5^6 « J+71.339 jin - m 9 . 8 7 2 . I N A C T U A L C I R C U L A T I O N , 190,339 2 1 0 53,339 . 1 7 ^ 2 . 2 7 5Q*s6s * ___________ l , 9 j g i r , 75,872 397,^62 R W Bills discounted and t ought, Municipal mrrants, R E S E R V E ^lH ?7 o u t s t a n d i n g , e l d g 14,500 2,427 D E - m F 1,373.6^2 O T E S : r t i f i c a TOTAL O 44,873 gQ.^^g 3 S E C U R I T Y 013 A M O U N T T O T A L . 184,262 12,205 K G H E L D o l e s s . 33,109 Gold redemption fund, < 4,245 Gold settlement fund,F*R.Board, 7,000 Eligible paper .minittuta required 36.400 C O L L A T E R A L r e d e m d N E W 447,607 f o r o f BOSTON YORK l-CllA 'CLEVE. RICK. ATLANTA 106,500 710,620 133.200 133.760 81 ,7*40 89,620 20^ — 123.273 20,724 9.910 q 6.045 11. ^ 9 85, 112 ' U7 6 1 23 .S 50 65,^95 7 8 . 2S T 5i.l6Q 109,SQO __15 ,gH0 15,440 4,420 14,440 go*754 A g e n t t h o u s a n d s i t h i n 1 5 d a y s 390,212 149 91,^30 104,756 53,143 59,739 E T R I B U T I O 16 N t o O F B 3 0 d a y s 1&9,795 513 I L L S A N D 3 1 180,165 W A R R A N T S t o 60 B Y d a y s 203,437 133 M 56,061 A T U 6l R 4s , 930 6 7 , 4*1 I T I E S . t o S O 1 , 8 2 2 4 d a y s 2 337 O v e r 1 5 0 3 , 3 d a y s 0 8 1,005 Total 901,574 2,137 1 , 234 , 92^ 3 Released for publication Sunday morning January 2T, 1918. X67GA Wor earlier. STATEMENT FOR THE PRESS January 26, 1918, Liquidation in aome volume by the banks of Government secur ities, mainly Treasury certificates and Liberty bonds is indicated by reports from 662 member banks giving their principal assets and lia bilities as at close cf business January 18, 1918. Holdings of Government securities, (including U. S. bonds on deposit with the U. S« Treasurer) of all reporting banks shoxv a de crease of about 35 millions, while leans secured by these </overninent obligations declined 10,4 millions. Otae*' Ifcanfetartd invest&fenta;tyhow an increase for the week of 23.1 millions. Member banks in ^evr York City report decreases of 39.2 millions in U, S. securities owned and of 19 millions in loans protected by such securities, as against an increase of 12.4 millions in other loans and investments. Member banks in the three central reserve cities show decreases of 51.2 and of 12.7 millions for the first two items as against an increase of 4 2 .S millions in other loans and investments, Liquidation of Government lirar loan se curities and of loans protected by such securities apparently was con fined largely to bonks in the financial centers. Banks outside the central reserve cities report, an increase of 16.2 millions in Govern ment, chiefly war loan, securities and of 2.2 million? in loans collaterated by such securities, as against a decrease of 19.8 millions in other loans and investments. Aggregate reserves with the Federal Reserve banks, f 1,147.3 nillions, show a decrease of 55.1 millions, all groups of banks reporting smaller reserves than the week before. The same is true of vault cash, which shows a total decrease fcr the week of 30.5 millions. Calculated excess reserves with the Federal Reserve banks are 90 millions as against 124.7 millions the week be fore . Wet demand deposits of all reporting hanks are shown to have decreased 183.9 millions, of which 122»1 millions represents the decrease for the banks in the three central reserve cities, and 95.9 millions the decrease for the New ^ork City hanks. Time deposits de creased slightly* itfhile Government deposits went ur about 10 millions. For all reporting banks the ratio of total loans and in vestments to aggregate deposits works out at 106.2 per cent as against 104.# per cqtit the week before. For the banks in central reserve cities this ratio remains unchanged at 100.2 per cent, while fcr the New York City banks this ratio in creased from 99.9 to 100.3 per c*nt. The ratio of combined vault cash and reserve to aggregate deposits of all reporting banks shovrs a decline from 14.9 to 14.5 p.r cent. For the banks in the central reserve citic.c this ratio de clined from 15.3 to 16*0 per cent and for the New York City hanks from 16,5 to 16.1 per cent. * Released for publication Sunday morning January 27, 1918, . S T A T E M E N T S K O V I I T G P R I N C I P A L 1 f o a R E S O U R C E A lffi 3 E L E C T E D . L a t a mmm mms N o . U . r e p o r t i n g S . S e c . L o a n s s e c . B o n d s A l l & e t h e r i n v e s t m C a s h J J e t d e m o n w i s c o m e n e d , U 3 . r t i f i c l o a n s v i t h a u a n d h i c h S . a t e a n ^ Y O R K s , 0 3 , 1 7 , . R . B p h 9 6 5 i l 4 I T I E S A S i n a * Y I T E M A T e a c h d C L E t t E . 6 S 3 1* 2 i S , $ C 5 2 5 , 2 8 1 2 1 , 2 9 2 6 2 2 , 5 5 5 OF MEMBER BANKS S C L O S E i s t r O F i c B D S I H E 8 S t h o u s a n d s o f d o I C H 67 913 ATLANTA 33 29,351 12,404 2,530 H L O C A T E D J A I I U A R Y I S I N , xSjSe C E K T B A L 1 $ 1 R E S E R V E , R E S E R V E A M L QTEL 8 . t . R 7 7 2 2 , 3 9 s 7 '$71*03* 4,143,874 F C b a n k s Not earlier. I L I T , i , l l a r s . ) ________________ 75,020 3* 3^,955 MIMff. 30 13,550 42,786 9,287 2,386 C H I C A G O 91 S T . L O u I S I O N S . 3 1 , SAII FRAIT 43 53,672 D A L L A S C Y . 69 4 1 3 5 * 5 2,942 0 , 4 4 2 6 3 , 9 6 9 , 4 0 3 , 7 0 1 T O T A L 6 6 2 935,79* 3 2 1 , 3 1 0 d a n k , 4 9 , 6 2 7 l t , 2 2 , 6 626,612 6 1 6 , 3 0 1 4 5 5 4 , 6 2 8 1 2 9 S ^ .S S S 311,416 8 , 3 2 5 2 3 , 1 5 8 2 , 1 8 259,449 1322,694 336,370 231,321 28,095 25,079 13*, 68* 3*, 967 18,384 l 6»«66 64,631 > 4,U 6 9,9*0 12,950 * 4 5 , 4 5 4 4 4 2 , 7 5 4 1 9 6 , 5 2 6 2 42,64s 1 13,290 1 3 , 4 0 6 9 , 8 9 6 4 $,955,227 40,585 5 2 3 , 7 7 , 1 4 7 , 2 7 4 3 9 * , 8 5 6 . 9 0 1 3 9 1 2 d e p o s i t s r e s e r v e p u t e d , d e p o r e p o r t i n g 3 5 e n t s , w i n e l l B ( X n B O S T O N b a n k s , "b y C R e s e r v e T i m o w p L I A f 4 5 5 3 > ' * 0 2 s i t s , 7 6 deposits, 3 2 . i £ 4 , 5 9 1 0 , * D a t a , 8 * f o r 6 5 , 8 3 5 6 8 8 , 5 4 0 6 4 1 5 , 1 9 * 1 , 0 1 1 2 , 9 2 5 , 4 9 1 3 2 5 1 5 1 , 2 b a n k s i n 5 5 e a e h C 7 9 9 , 8 8 5 3 . 0 9 9 e n t r a l R 201,927 997,142 278,716 173,652 65,051 3*1,156 SO, 539 *7,151 12,3J7 1 . 223. _25.23* ... 7,244.. 246,029 379,392 46,1^9 51,021 5 _ e s e r v e ._ c i t y , _ b a n k s i n a l l o t h e r C I T I E . 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