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Released for publication Sunday morning July 15> 1917>« Not earlier. STATEMENT FOR THE PRESS. July 14, 1917* Large increases in Government deposits as the result of transfers of Treasury funds from depository banks to the Federal reserve banks, and sub stantial reductions of members’ reserve deposits are indicated by the Fed eral Reserve Board's weekly bank statement a*# ** close of business on July 13 ^ 1917* Additions to Government deposits apparently were effected part ly through transfers on the books oi the Federal reserve banks from member banks1 to Government credit. A decrease of 133*4 millions in member banks' reserve deposits, reported by the New York ban$1vJ'fer cefotsse°d fbj withdrawals from the Federal reserve bank of excess balances for the purpose of assist ing correspondent banks in the interior to make the required reserve trans fers to the Federal reserve banks of their districts. Aggregate gold re serves show an increase for the week of 35*7 millions, and total cash re serves an increase of 44*9 millions. Notwithstanding the large decrease in member banks' deposits the New York bank reports a decrease of only 4»7 millions in reserve. It w ill be noted, however, that the banki's favorable balance of 21.2 millions in account with other Federal reserve banks, as shown the week before, has been changed to an adverse balance of ^2>8 mil lions. Decreases in reserves reported by St.Louis and Dallas are largely offset by the building up of favorable balances or the reduction of advause balances in account with other Federal reserve banks. Discounts on hand gained over 10 millions during the week, the in crease representing largely member banks* collateral notes c which increased from 50*4 to 59*6 millions. Holdings oi col lateral notes secured by U. S, certificates of indebtedness or interim re' ceipts for Liberty bonds show a slight decrease from 13*4 to 13*2 millions. Acceptances on hand show a decrease of about 6*7 millions, the New York bank reporting net liquidation under this head of 4*9 millions. Other classes of earning assets show but little change. Total earning assets increased about 6*3 millions, and constitute at present 714 per cent of the banks' paid-in capital as against 703 per cent shown the week before. Of the total,acceptances constitute 47*3 Per cent; discounts 34 per cent; U. S* securities 18»1 per cent, and municipal warrants 0.6 per cent. Government deposits show an increase of 157*2 millions, all the banks showing substantial i»creases in the amount of public, largely Liberty loan, funds on hand. All the banks except New York and Atlanta report substantial gains in member banks' reserve deposits. Federal reserve notes issued to the banka total at present about 5^0 millions, or 9*2 millions more thanthe week before. These notes are secured by 428 >3 millions of gold, and 158*5 ":o.f paper deposited with the Federal reserve agents. The banks report *n actual circulation of 53^*5 millions, an increase of about 5 millions for the week. Released for publication Sunday morning July 15, 1917. w0t earlier. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE £ANT^S AT CLOSE OF BUSINESS JULY July Ij Cold coin and certificates in vault ......................... . Gold settlement fund.................................................. .. Gold with foreign agencies.................................. .............. Total gold held by "banks............ ............................ . Gold with Federal Reserve Agents...................................... Gold redemption fund Total gold reserves.................................................... , Legal tender notes, silver, etc....................................... Total reserves............................................................. Bills discounted - Members ............................................... Bills bought in open market..... ........................................ Total bills on hand U. S. Government long-term s e c u r it ie s ..**....................... U. S. Government short-tern securities.................. .. , .. Municipal warrants ..... . .................. . ..................... .......... Total earning assets.................................................. Due from other F. R. Ban>s - Net..................................... Uncollected items............. ................................................... Total deductions from gross deposits........... .......... 5^ redemption fund against F. R. bank notes.................. All other resources............................................................. TOTAL RESOURCES........................................................... L I A B I L I T I E S Capital paid in .................................................................... Government deposits............................................................. 300,872,000 Due to members - reserve account..................................... 1,019,672*000 Due to non-member banks - Clearing account.................... * 6*847*000 Member bank deposits - Net................................................ * 3 Collection items................................................................... 153,813,000 Total grosssdeposits.............................................. . F. R. Motes in actual circulation............ ....................... F.R. Bank notes in circulation, net liability.............. All other liabilities including foreign Govt, credits TOTAL LIABILITIES........................................................ Gold reserve against net deposit liabilities................ Gold and lawful money reserve ag'st net denosit liabil's Gold reserve age.inst F.R. notes in actual circulation.. * 19^7 $47]^ 14.9 2 .OOO 388, 353'000 52.501.000 912, 31*6,000 428, 338.,000 12.687.000 1,353,371,000 47,5*15,000 1,400,916,000 1*10,163,000 194.937.000 335,100.000 July 6, 1917 • $470, 359,000 371,380,000 ' 52,501,000 894,240,000 4-13, 715,000 9,748.000 1,317,70 3,000 38,314,000 1,356,017,000 129,853,000 201.664.000 331,517,000 . 961*000 30, 359",000 2!uui'*000 411,861,000 7 .. 005,000 254,172,000 261 177 000 ^OO^OOO 786",000 27075, 240,000 * 1J» * . - 57,681,000 13 , 1917 - July 14, IS I 6 . $ 269, 602,000 118,631,000 , 388 233,000 168.241.000 1 .9 7 0.00 0 5 5 8.444.000 10.279.000 568. 723.000 23 . 968.000 81.130.000 . 105,098,000 ^-2,935,000 28,659,000 52 589.000 2^ 442^000 27.424.000 405,5537000 19,505,000 251, 334,000 2^0,839,000 500,000 851,000 2,033,760,000 1897657.000 20. 056.000 57,657,000 143,626,000 1,112,347,000 5 >000,000 . . . 164.588,000 1,481,204,000 532,508,000 1,960,000 1.887,000 2 ^ 7 5 ,2 4 0 ,0 0 0 74,7^ 78.6$ 82»8$> X-c/8- 4.5 4 6.00 0 1 0 ^ 56,000 450,000 8 .244.000 787.130.000 5 5 .1 76 .0 0 0 97.476.000 474.942.000 1,425,561,000 527,% 9 , 000 1,175,000 21,908,000 $2,033,760,000 ]G-lf 79-3^ 80-3 572.418.000 157 ,579 >000 1 , 720,000 217.000 787.130.000 70-3^ 12 .If 108.0# Released for publication Sunday morning July 15, 1917* "Mot earlier. WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JULY In thousands nf R E S 0 U R C E S • Boston N. Y* Phila. Clevel. Richra- Atlanta- Chicago S t . Louis Minnls• Kas.Cy. Gold coin and certificates in vault $ 33,093 253,181 35,8?o 30,846 6,304 9,463 7,299 39,896 5,103 17,702 Gold Settlement Fund 17,602 106,390 25,119 5^,275 22,764 3,631 68,498 20,572 28,930 7,937 Gold with foreign agencies 3.675 18,188 > 6 .7 5 . . 4,725 .1,837 . .1,500 7 , 35c 2,100 2,100 2,625 Total gold held by banks 54,3?0 377,759 64,664 93,846 30,905 12,430 115,744 27,775 27,739 41,018 Gold with Federal Reserve Agents 22 ,U09 161,766 33,443 31,008 7,678 17,527 61,690 14,701 21 , 4oo 14,727 GoM Redemption Fund 500 ...-5J59 450 ,_J 342 235 2J273. 279 340 1,337 ^■Tctal gold reserves 77,279 5]^ , 775 98,557 127,827 39,369 30,299 177,669 42,755 49,479 57,082 - 67 u 3*+, 248 ..... 985 Legal tender notes, silver, etc-- jjy1H 274 216 640 2,302 . 422 3,367 99 •*” ~ Total reserves 80,353 579,023 99,542 128,101 39,585 30,939 179,971 46,122 49,578 57,504 Bills discounted - Members 15,585 32, 21U 12,055 6,585 1 3 , 650. 4, 248 16, 258 8, 323 7,586 10,674 Bills bought in open market 16,069 96,668 10,508 9,855 1,636 860 12,151 4.. 060 1,273 29,045 Total bills on hand 31 , 65U 128,882 22,563 16,440 19,286 5,521 45,303 11,646 11,53*+ 20, 474 U .S .G vermnent ong-term securities 5 U9 5,853 530 1,305 2,241 8,844 1,152 699 14,532 1,857 U-S *Go vernm nt sho rt e rm securities 2,194 6,060 2,548 2,968 1,969 1,910 1,524 1,420 1,784 3,556 Municipal warrants • • • 36b 158 . .1,263 _ .. 15 * « « 212 153 51 Total earning assets 34,378 136,613 25,818 26,524 22,422 8,130 63,544 15.623 14, 811 31,153 Due from other F.R. Banks - Net 1°,U39 . . . 4,681 5,198 3,64?. 5,810 3,082 4, 248 8 , 3^0 4 , 3314 Uncollected items ■a, 839 5 2,672 2b,718 22.466 14.444 13.512 36,574 lb ,086 6.533 11^476 Total deductions from gross deposits 41,278 52,672 30,365 27,147 19,642 21 ,352 42,384 19,168 10,781 21, 810 5$ Radeiupt-Fund a g !st F*R,Bank Notes 4&0 All other resources • * ♦ « # e • « * 106 81 119 115 27 50 95 TOTAL RESOURCES 156,609 768,308 155,725 181,911 81,755 61,002 285,926 81,008 75,285 110,917 B I 1 I T I E S a paid in Capital 5 , 1*2 12,063 5,276 6,365 3,265 2, 481 3,168 3,438 2,389 7,408 Gove rnment derjo s it s 39,579 60,018 21,584 38,073 17,167 10,261 49,757 8, 232 14,5-36 8,3 3^ ..Due to members - reserve account 70,521 388,613 63,739 86,218 30,797 23,062 140,172 42 ,568 35,784 58,884 Due to nonmember banks-clearing a c !ct . . . ' *6,847 • / Collection items 15,434 32,2411 23,’ 538 15,079 12,950 8,402 5,760 20*528 5,081 7,004 Due to other F. R. tanks - Net t « . 52,786 * * •* * * « « * * « Total gross deposits 125,534 540,508 108,861 139,370 60,914 39,083 210,457 59,304 49,097 80, 474 I\R.Notes in actual circulation 25,704 2111,368 4 i ,395 36,176 17,403 19,530 68,061 18, 439 23,707 25,315 F-R.Bk. Notes in circulation,net liab. All other liabilities including foreign 86 0 0 1 -1 . . Gcveraaent credits ' _ 259 1 < n ............................. _ TOTAL LIABILITIES 156,609 768, 3O8 155,725 181,911 8 1, 755 61,002 285,926 (a; Difference between net amounts due from and net amounts due to other F- R. Banks. . ._____ . 8i,008 75 , 285, 110 , 91? X 278 13, I 917. Total Dallas S -F ran • 13,363 7,923 19,372 20,712 1,838 23,124 2,888 42,972 15,866 168 26,123 39,158 1,155 ^ 313 4,707 2,586 7,293 3,970 1,446 20 12,729 • « • 12.757 12,757 100 471,492 388,353 14,504 52,501 912,346 ’ ^28, 338 12,637 1,353,371 47,545 1,400,916 140,163 194,937 335,100 2,429 43,961 27 69,122 163 69,235 8,278 6,226 2,980 203 30,359 2,441 20.116 411, 861 1,855 (a) 7,005 13.0-5 254,172 14,950 261,177 * • » % * % - m 500 66,072 104,351 786 2,075,240 3,966 57,681 2,750 10,633 29,332 3, ^39 . 843 44,297 19,025 22,648 300,872 49, 9 3 2 1 , 019,672 6,847 ^,35^ 153,813 . . « V 4 « 76,934 1,481,204 23,385 5 32,508 . . 1,960 66 1,887 66,072 104,351 2 , 075,240 15 917 Released for publication Sunday morning July , I . Hot earlier. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JULY vIn thousands of dollars) ' Federal Reserve Notes; Received from Comptroller Boston $55,680 N. Y. 44°;040 Chargeable to F. R. Agent In hands of F. R. Agent I s sued to F.R. Bank loss amount returned to F. R. Agent for redemption 44 ,909 358,366 120,100 n r 57,21+3 45,948 14,500 _ 7 >94o -LIJ.. . cju N __ _______ _ y, 20,333 30,403 101,870 23,678 32,486 2,230 9,805 28.180 4,420 6,690 238,266 42,74^ 38,008 1 8 ,K H 151,974 9 ,7 9^ 4,220 9,021 Returned to Comptroller Collateral held by F- R* Agent as security for outstanding no Gold coin and certificates on hand Gold redemption fund With Federal Reserve Board Commerc ial paper, minimum required TOTAL Amount of commercial paper de livered to F. R. Agent 12,500 Q1 Phila. 66,900 1 2 ;o-c 13, 1917. Clevel. Richm. Atlanta Chicago St. Louis Minn's Kas.Cy. Dallas 52,000 31,720 37,180 104,500 38,6UO 42,720 29,500 20J59 8 73,690 19.258 36,920 _Jb . S-Fraa. 23,660 35,206 27 , 65 8 9,440 : 8,461 25,796 25,766 19,197 3,365 14,102 796 1,048 10,540 6,250 2,370 1,297 11,110 11,060 996 3,760 .jjj ji. _ Total 965,460 - -„ 26,123 804,223 224,266 26,123 579,957 1 18,660 1,749 2,000 2,283 26,940 1,987 20,000 3,296 678 7,000 1,151 13,080 61,210 10,425 , 3 , 0 7 1 12,000 4,557 4, 396 11.0-59 3, 331 .480 218,118 933 25,190 23,159 187,030 10,000 16,500 32,1409 238,266 42,743 38,008 18,103 20,598 73,690 19, 258 25, 796 25,766 19,197 26,123 579,957 10,118 77,036 9,306 7,085 16,124 3,078 12,197 4,559 4,396 11,115 3,459 : • • 158 ,473 19,197 172 26,123 579,957 47,449 7,000 151,618 M E M O R A N D A Federal Reserve Notes outstanding and in actual circulationF. R. Notes outstanding F. R. Notes held by banks 32,1409 238,266 Within 15 days Bills discounted and bought Municipal warrants 42,743 6x105... 23,898 _ 1,348 . 25,7014 2114,368 4 1 , 395 116,730 1,117 38,008 1,832 36,176 18,103 700 17,403 20,598 1,068 73 ,690 5.629 19,530 68,061 19,258 819 25,796 2,089 18,439 23,707 25,766 451 25,315 19,025 Distribution of Bills and Warrants by Maturities. 15 to 30 days 31 60 days l to 90 days Over 90 days 59,380 222 6 80,995 1,079 • 73,367 20 4,628 3 Total 335,100 2,441 2,738 23,385 532,508
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