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i'3l-;asei for publication Sunday morning July 21, 1918.

Mot earlier.

STATEvENT FOE THE PRESS.

X-IO77

July 20, 1918. •

Aggravate gains of 1 5 .4 millions in gold reserves accompanied by an equally
large increase in investments and a Slightly larger gain in Federal Eeserve note
circulation are indicated in the Federal Reserve Board's vreekly bank statement
issued as at close of business 0.1 July 19, 1912 ,
INVESTMENTS: Discounted paper on hand shows an increase for the week of 43.5
millions mainly at the Chicago, Kansas City and Philadelphia banks. Of the total
discounts shown, 601.U millions, as against 606.6 millions the *veek before, is rep­
resented by war paper, i .e ., member banks' notes and customers1 paper secured by
U.S. war obligations. Acceptances on hand indicate net liquidation of 12.5 Million
for the week and of 122.9 Millions since March 22 when tne maximum holdings of this
class of p a p e r , r e p o r t e d .
Redaction by the Government of 15 millions of cert if
icates held by the New York bank on June 12 accounts largely for the decrease in
Government securities shown. Total earning assets increased 15.4 millions.
DEPOSITS: Government deposits show a decrease of 24,6 millions, largely at th
Cleveland, Chicago and Atlanta banks. Members' reserve deposits increased
millions, all the banks except those at St,Louis and Dallas reporting gains for the
week. Met deposits increased about 1 millions.
}
R5SSBVES: Transfers of Government funds from other F.R. banks resulted in con­
siderable concentration of reserves at the New York bank, which holds at present ■
43.5 per cent of the total cash reserves of the System as against 32 per cent the
week before. The ratio of reserves to aggregate deposit and F.R. note liabilities
shows a slight decline from 59,9 to 59.8 per cent.
—
F> R, CIRCULATION: Daring the week the Agents issued 18»9 millions net of F,R>
notes. The banks report an increase of 15.6 millions of F.R. notes in actual cir­
culation besides a slight increase in their liability on F, R. bank notes in
circulation.
CAPITAL: Payment by aewlyradmitted members for F.R. bank stock accounts large­
ly for an increase of $59#000 in paid-in capital, chiefly of the Chicago and New
York banks.
CONDITION OF MEMBER BANKS, JULY 12, 1918
Substantial gains in deposits accompanied by somewhat sr/all er increases in
loans and investments are i n d i c a t e d t h e weekly statement of condition on July 12
of over J00 member banks in leading cities.
Notwithstanding the largernumber of reporting banks the holdings of U.S. bonds,
other than circulation bonds, show*,' a decrease for the week of 4.5 millions. On the
other hand, certificates of indebtedness, notwithstanding the redemption by the gov­
ernment on July 9 of the outstanding balance of the April 10 issue, increased 122. f'
millions, of which over 80 millions represents the increase under this head for t u .
lbanks in the three central reserve cities. Other loans and investments show an in­
crease of i^O.U millions though for the central reserve city banks a decline e^ual^y
large is noted. As a result of the week’ s developments the share of U.S. war obli­
gations in the total loans and investments shows a rise from 13,3 to l 4.1 per cent.
For the central reserve city banks a rise from 15 to 16.3 per cent is noted.
Government deposits decreased during the week 99*2 millions, largely at the
banks outside the central reserve cities.
demand deposits went up about 271
millions, of which 152.6 millions represents the gain at the central reserve city
banks. A gain of 23.1 millions in time deposits is confined largely to country
banks. Total reserves show an increase of 62.3 millions, chiefly for the central
reserve city banks, while cash in vault - e t up 15 •3 millions.
.v n
Owing to the slightly larger gain in deposits the ratio of aggregate loans ar.d
investments to deposits declined from 123*6 to 123*1 per cent. For the central r:serve city banks this ratio shows a decline from H 5.3 to 113.3 per cent. The raJ
,iof combined reserve and cash to deposits shows an increase from 14.2 to 14.? per
cent 1 or all reporting banks, and from 15«1 to 15«7 per cent for the banks in the
central reserve cities. Total aatcess reserves, in the calculation of which no a c ­
count is taken of government deposits, increased from 38.9 to 69.9 millions, by i?i
the larger part of the increase falling to the share of the central reserve ciJ
:y
banks.




......... .. ';r-

i\

;

; ' J - ■ J rooming July _a., Xy•±J r^
,.
.i i‘
.e
LIAB 1LIT
1 ii.o vj' Tn.u
j?
!
^ .'FDSRA.L RESERVE
’
E E
July 19 , 1913
G o l d in-vault a $ i in tr-vrsit ■
•,. >
428,853 ,00G
Gold settlement fund, F. K, Board
555.154.000
^old ''Vith foreign agencies
Votal gold held by banks
1 , 000 , 503,000
Gold with Federal Reserve Agents
940 . 290.000
Gold Redemption Fund
Total gold reserves
1.975.448.000
Legal tender notes, silver, etc.
___ 55,647,000
Total reserves
2.031.095.000
Bills discounted for members and F.R. Banks
1,203,346,000
Bills bought in open market
- 2Q 5u 3i2*m
Total bills on hand
1.409.278.000
U» S. Government long-term securities
40.259.000
U. S. Government short-term securities
16. 355 .000
All other earning assets
9£ jm
Total earning assets
1 >465,993 ,000
Jncollected it inis IDeduct e frora gross deposits)
.'
658, 588,000
5 /v Redemption fond against i'
s'.E. Bank notes
751.000
All other resources
— 9 ,. a5 JQQQ.
6
TOTAL RESOURCES
4.166.122.000
L I A B I L I T I E S
Capital paid in
76 . 3 s3 .OOO
Surplus
1 . 134.000
Government deposits
144,828,000
Due to members - Reserve account
1,488,047,000
Collection items
400,01# ,000
Other deposits including foreigh government credits
112,0^2.000
Total gross deposits
2.225.268.000
F. R. ‘
notes in actual circulation
1.829.045.000
F„ R. bank notes in circulation - net liability
11,000,000
All other liabilities
,___23,. 292,000
TOTAL LIABILITIES
4.166.122.000
Patio of gold reserves to net deposit and
F. R. note liabilities combined
5S-2$
Ratio of total reserves to net deposit and F. R.
■
"note 1 iab 11 it ies c om ined
b
oiAxjuivliLfi^ o i CO.viLJ^Sj R E S O U R C E S A M D
5 0 D F C S 5

—

/■ vr
'

rn ’
July 20 , 1917
4£3*i;$ ,000
403 ,821 ,000
5?, 500 ,000

344,4140 ,000
423,889 ,000

1 . 960 . 052.000
55,932,000
2.015.984.000

1,159, 882,000

. ,11,031 J & O
1-380,020 ,000
50,301 ■
000
1,430,321 ,000

161,386 ,000

218.464,000

1.378.346.000
4 0 .2 7 3 .000
31.923.000
72,000
1.450.614.000
640,410,000
735,000
____ a , 979,000
4 . 1 1 7 . 722.000

______________

169.393.000
1,439,346,000
4 77 . 526.000
107. 80Q .000

59*8%

(a) Includes amount formerly shown against items Due from or Due to other Fi R. Banks



CLOD'S OF-

July 12, 191 8
42g,73S,OOC
524 ,225 >
C'CC
15,529.000
962.492.000
963.147.000
3 4,413, GOG

_____
436.842.000
(a)
247,080,000

76 . 324.000
1 , 134,000

57,723,000

359,111,000
42.265.000
33.050.000

500,000
1.381.000
2.116.124.000

184.631.000

1.164.995.000
2 . 194 . 074.000
1.813.425.000
10,800,000
r__, 2 1 .96 5 .000
4 . 1 1 7 . 722.000
58.2
5

9

. 9

165.284.000
____ 5,767.000

1.520.677.000
534.226.000
2.306.000
_____ 1, 19?. 000
2.116.124.000
7 6 .3 $
7 9 - 1 J S

W '

w^ juvLY

norning July

21 , 131s,

i^Oo earj. ier

b P i.T ^ .^T OF RESOURCES AND LIABILITIES FOE. EACH OF THE FEBERA.L RESERVE La ^Xd iiT uLOoE OF xfuSliNESo JuLl - ^,
1

R E S 0 U SCES
Gold in-vault and in 'tr a n sit :
Gold settlement fund, F.R.Board
uold with foreign agencies
Total gold held by banksGold with Federal Reserve Agents
Gold redemption fund
Total gold reserves
Legal tender notes, silver, etcTotal reserves
Bills dis.for members S F.R,Banks
c
Bills bought in open market
Total bills on hand
U-S.Government long-term securities
U.S.Government short-term
f
f
All other earning assets
Total earning assets
Uncollected items (deduct
from
^gross deposits)
’
5f Eedenp• fland against F.R.Bk.notes
o
All other resources
TOTAL RESOURCES
LIABILITIES:
Cap ital pa id in
Surplus
Government deposits
Dus to members, reserve account
Collection items
Other dep*incl.foreign Govt.credits
Total gross deposits
F.R. notes in actual circulation
F.R.Bank notes in cire.,net liab.
All other liabilities
TOTAL LIABILITIES




Boston
s ,=596
41,480
,1 ,0 8 4

New York

51,160
56,651

545,513
280,282

1 ,0 3 5
1>U*«46
,2,953
113,799
86,173
,24.683

14,754
840,549
44,420
884,969

305,419
234,747
5.^47

409,170

104,561
110,856 513,731
1,129
1,559
i,4 l 6
3 , 17s
__ ________________ 51
113,401
518,519

cusanas of dollars*)
^In tn
Phila, Clevel. Richm, Atlanta Chicago St.Louis iVinn. Kans-Cy. Dallas San Fram. Total
428 853
,589 3 9,,186 6,440 6,793 27,530
8,536
6..17- 17,537
1 *781
’2^£ 12,435 27,796
556 ,’154
51,029 35.965 i6,6iU 11,188 54,923 25,910 1 5 , 3 1 1 28,756
.15,426
852
542
1,085
620
620 ____ J-I5542
465
2.169
29,803 19,151 46,185 1,00Q 503
52,703 76,546 23,596 18,446 84,622 28,311 24,467
100,778 106,672 33,115 30,872 139,597 31,553 23,718 33,588 14,010 89,454 940,290
34,6.55
1.251
1.040
3.500
444
2,121
2.226
1,900
32534,412 135*639 l
156,981 184-, 193 57,155 51 , 439227,628 62,090 50,085 64,431
211
695
373
610
588 2.618
897
220
308 _JLi-I54
36,166 135,350 2 ,93**095
157,676 184,566 57,765 52,027 230,246 62,987 50,305 64,739
71,909 90,514 57,761 33,749 191,461 57,150 51,399 68,860 31,852 53,348 1 ,203,346
205i912
2.491
410
129- 1,550 19.162
12,157 1 5.556
1.221
1.64-2 18.16 8
33,402 72,510 1 ,409,278
84,066 106,070 60,982 37,391 209,829 59,643 51,809 68,989
3,461
40,259
3,979
730 7,090
2,234
8,877
1,317
1,747
6,903 1,233
901 1,004
16,358
891 1,218
1,182 1,660 1,510
2,112
321
965
J2_
28
JL5
86,995 114,633 63,725 39,101 219,031 62,198 54,017 79,084 38,314 76,975 1.465,993
1 . 2 3 5 -

u .
rn

5

* 5,545
+
--

144,889
-

71,137

772
273,517

1.668
1,550,045

1.212
317,020

6,474
75
l§,532
93,439
34,773
143,744
121,466
-1.758
273,517

19,967
649
31,339

5 , 9 7 5 , 4 4 8

-

6,939

64,436

37,112

15.687

3,604

2,830
-38
1.578
37.568
19,506

53,167
4l6
100
14
413
729
526
629
.514.
1.167
_24n
364-,209 l69,3r 124,447 549,049 162,823 120,254 197,819
66
8,604-

16,921
661,336 100,609 110,019
4,886

47,147 32,676 98,505

3,399

116
10,861

3 ,H 5
4o

9,919

216
3,200 20,321

43,795 40,082 184,316
115,369 46,192 58,01+3 32,208 20,901 58,338
„
___
105,606
6
2x113
_____ 310 .
913,’ 65O 151,687 185,293 86,864 64,189 265,108
607,890 157,340 168,717 77,316 56,366 268,790
-110
2,000
7,889
1,054
1,595.
1,171
Szl ■3,016
1 ,5 5 0 ,0 4 ^ 3 1 7 ,0 2 0 364,209 169,366 124,447 549,049

8,887
44,686
35,067
210
88 , 87O
69,314

10,295
65,773
30,480

6,561
3 3 64l
13,246

930

162,823 120,254

,

22
8,000

1x025.

658,588
33,085
84
137
751
Q
31£ 1,244
?./6g5
90,335 247,238 4,166,122
2,9 98

5 5 .

.1,-292
197,819

, 6 4 l

15,202

3,541

5 8 ,707 106,548
57,7 49 77,938

5

4,453

76,383
1,134
144,828

14,44-7
47
72,783 1 , 488, 0 -

16,218
- 2 , ,6 9 f i .

480,341
112.052

537470 107,138 2 , 225,268
32,984 133,175 1 , 829,045
890
11,000
1,542
2J_, 29,2
m
90,335 247,238 4,166,122

j .e
-j

^

1 Ox"

oii.c-i.ticn Sox day morning July 21, 1918

D'lIO

ict earlier.

STATEMENT OF FEEERAL RESERVE AGEWTS* ACCOUNTS AT CLOSE OF BUSINESS
(In thousands of dollars.)
"PUERAL RESERVE NOTES
' ew York Phila- Clevel. Richm.Atlanta
Received from Comptroller
^ p p n ’ cf?
222 ’ 7pO 114,720 96,740
Returned to Comptroller
Chargeable to F.R.Agent
P7 ’ 800
,
l Pi *linn
s9>537 76,978
In hands of F. R. Agent
6,905 is,775
Issued to .e'.R.Bank less amount
returned to F.R.AgSnt for
redemption

JULY 1 9 , 1918
Chicago St .Louis, Minn.
370, 580 102,800
3*48,111

U9. 3U0 n A o

.____^f®’^ _ _ _ ^ .0 9 9 ^ i 7 0 ,3 ^ 5 1 ^ 8 5 2 ^ffi.632 58, 203293,771

COLLATERAL SECURITY FOR OUTSTANDING
NOTES:
Gold coin and certificates on hand
Gold redemption fund
7,151
Gold Settlement Fund, F.R.Board
49 ,500
Eligible paper, minimum required
69,940
Total
126,591

Total

71,380 109,700

08 ,500 l -< 930 2 742,660
< ,
4 ^ ^ 6 2 3 isifeo ti:$ ’ d : ™
I
63,219 90 , 677 " 51,670 l4 c M 5 2 , 2S2 .533
7
& .6 2 0 1 7 J r
,
_|iJ o

73,356 55,264 34,057 33 , 79511*5, 6 3 8 1 , 982,603

11 i'i II i'S mii 1:S „*» “:S ,5§! is
331 1^9,174

^

AMOUNT OF ELIGIBLE PAPER DELIVERED
TO F. R. AGENT
110 ,856

18: 12^

84, 676

Kans. Cy. Dallas San Fran

513,730

74,509 103,495

82,632

58,203 298,771

60,226

29,642 202,533

Ul ,,803__ 15,546
73,356 59.264
495

47,756

50,469

19,785

84,057

3 3 , 79 5 14 5 ,6 38 1 , 932,603

s 6,184 1,042,313

62,989

33,402

62,093 1 , 356,726

M E M 0 R A N I) A
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION.
F. R Notes outstanding
F. R. notes held by bank
F. K. Hotes in a o t ^ l circulation

126,591

6S'?no
S2,SiZr 5Z,2°3 29S'771 73,356 59' 2 & 8“
*'°57 33,795 1 *5.638 1,982,603
1
- 5025
___ 6 n 9
6,119
811 12^ Q J 153,558
153 , 55s
I i T % 6 M r 8 q 0 l ^ f i E T f e 7 f ? - ^ f ^ - E H i f 3 S 4 l ^ ^ ? ^ - i ^ — ^
811 12 .U 6
507 , 8 9 0 1 5 7 , 3 4 0 1 6 8 ,7 1 7 77 ,3 1 6 56,366 2^ 8,790 6973! ^ 5 7T 4T ^ 7T 938 ~ T 27 ^ ^ I 3 J 7 I 7 5 X ^ 2 ^ 4 5
T
DISTRIBUTION OF BILLS, U.S. GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS
BY MATURITIES. '
Within 15 days

Bills discounted and bought
U-S. Government short-term securities
Municipal warrants



797,513

16 to 30 days
220,406

1,675
5

31 to 60 days

208,306
750
51

6l to 90 days
142,630
M 3 5

Over 90 days
49,373
9,798

10

Total

1 , 409,278
16,358
66

^'

. ou*iuay morning July

2 ±

1B4£“T SH° fiSG PBI" ° IPAL

«

l^iP'

-Vli
cg f «
^ K3
^
b b ^ , HI i i i J l i v L GJ.1j-.Jj.
AS
CLOSE OF BUSINESS JULY 12, 1918.
(In thousands of dollars.)
u llC
St.Louis. Minn. Kans.Cy. Dallas San Fran.
34
95
72
32
42
45 -

,L_GiEL

1 * Bata f or ili_X3ESl;tMl. banks in

-,

-Boston
iT . reporting banks
o
Total
J»S. bonds to secure
70S
c irculat icaa
Other U.S. bonds including
IS776 17 417
6,.319 14,023 17.629 34,539
271,138
Liberty bonds
U. S. Certificates of
75, S67 21,959
9,551 16,484 15,516 21,631
556,744
indebtedness
37,577
392,21+5 32,359 47,078 16,158 17, 7U
Total U .S. securities
32,929 26,861 18,036 21, 397 11,169 30,674
735,194
65,224
704,646 67,632 145,150 66,828 52,269
Loans secured by U .S.
177,572 66,237 33,906 52, 4o4 44 ,314- 86,894 1,563,076
bonds, etc.
Us,219 21(7 ,025 38,93 6 3 4 ,025 17,772
6, 2S9
All other loans and
53,552 14,731
4,962
4,744
5,94s
s /714
484,917
investments
Beserve with F,R. bank
Iz'.lll
^ ' 1 , 1 97 7 'o ^
7
^ ’ f 5 l '3S5’ 5lt5 377 , 69* 252,761 466 , 945 165,063 587,530 10,572,556
Cash in vault
27!790 K
S t 1,
1
3^
, 1^
4o,726 i 4 , 574 i l k 7 1,141,555
Net demand deposits
662, 208 4, 337,625 568,486 704 049 262*868
i
icn
f>7,s99 16,355 11,284 21,609
370,925
Ti«e deposits
m .m
15,765 2 2 9 ■*? 4<:aio
• ? S , U l 25S, Z i!
331,237 9 , 021,521
GovernRient deposits
___
>0 61,820 25,901 108,936 1,406,614
2 . Data for banks in each Central
2 M 7 & — 6 , 8 8 9 - , ^ 7 ..... . m s , 614er reporting be____
i'few York
Chicago St.Louis Total Cen.Res.Cities
Reserve Cities
Country Banks
July 12- July 5 July 12 July 12
Total
July 12— July $
No* reporting banks
July 12- July 5 July 12 — -July 5
6s
68
July 12-Ju ly 5
40
14
122
122
U.S. bonds to secure
423
421
163
153
70S
696
circulation
37,-633
37,736
1,469 10,392
49,499
Other U S. bonds including
171 ,928
49,597
•172, 836 49,711 1+7,49].
271,133
269,954
Liberty bonds
234, 21*3 229,923 46,232
296,050
15,575
294,622
212,057
U* S. certificates of
217,593 48,637 49,021
556,744
5ol, 23b
. indebtedness
377,208
310,075 45,390 20,790
443 ,388
364,103
Total U,S* securities
249,226
214,652 42,530 33,354
577,734 93,091
649,089
735,19^
708,322
46,757
738,937
633,211
Loans secured by U. S.
605.111 1 4 0 ,9 2 8 i f t j g 1 , $ ; ^ , , 612,609
^
“ 9
bonds, etc.
223,181
225, 6 3 7 ; J S , 909 11 , 91)9 274,039
271,013 182,161
All other loans and in­
1 8 4 ,5 2 4 28,717 2 3 ,2 4 1
4 s4 ,9 1 7
77#
vestments
Reserve with F* R, bank
39a858
5 '662,'to
^ ’ ^ 4 vS’ * 1 10572-556 10,532,131
Cash in vault
Net demand deposits
4, 038:568 3.898; 195 6?6,'o^6 1 ^ 4 7 2 4 s & l l t “ 74°’ 509 3
*
3
o c3 ®'615 35’ ^
Ti^ie deposits
Gov erncient depos it s

I




S

S

-

8

W

9

S

S

S

:

S

M

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■ Released for publication Sunday morning July 28,

19IS.

Not earlier.

STATEMENT JOE THE PRESS.

X-10S9

July 27 , 191S.

Substantial increases- in discount activity, also considerable gains in Government^deposits by the Reserve banks outside of l 'e / York and Boston, are indicated ill
-v
the federal Reserve Board's weekly statement iss’
aed as at close of business on
/ July 26, 191S,
IiWESTiJSLfTSAll the banks, except . Hew York report net additions to discoun­
ted bills on hand, Chicago, San Francisco, Philadelphia and Kansas City showing the
largest gains. Of the total discounts on hand, $675 , 665,000 as against $601,403,000
tho week before is represented by war paper, i .e ., member banks' notes secured by
ovemment war obligations and customers' paper similarly secured. No appreciable
changes are shown in other earning assets, including acceptances and U.S. securities
DEPOSITS; Government deposits at all banks, except Boston and New York, show
considerable increases, the total gain for the week being S3.2 millions. Members'
reserve deposits fell off 52*9 millions, all the banks except
Xansas City report­
ing net reductions in reserve balances, apparently as the result of payment by mem­
ber banks for Treasury certificates of the more recent issues. Net deposits show an
increase for the week of 56.2 millions.
RESERVES: Gold reserves decreased by 1.2 millions and total cash reserves by
l.o millions. The amount of gold held with foreign agencies shows a further reduc­
tion to 11.6 millions, as against 5^*5 millions held during the first half of the
year. ^The ratio of total reserves to aggregate deposit and Federal Reserve note
liabilities declined from 59*2 to 5S.I per cent.
•
—
CIRCULATION: During the week the Agents issued 16.9 millions net of Feder­
al eserve notes.^ The banks report an increase of 4- .8 millions of Federal Reserve
1
notes in actual circulation besides a snail increase in their liability on Federal
Reserve bank notes in circulation.
Payment by newly admitted members for Federal Reserve bank stock ac­
counts^ largely for an increase of $ 53,000 in paid-in capital, Richmond, Minneapolis
and Chicago reporting the largest increases for the week.
CONDITION OF MEMBER BANKS, JULY 1 9 , 1913 ,
tion ht*?* r®^uctions in the holdings of Treasury certificates following the redemp­
tion by the Government on July IS of the balance of the A p r i l 22 certificate i s s u e
accompanied by slightly larger withdrawals of Government deposits are indicated by*
the weekly statement of condition on July 19 of 717 member banks in leading cities.
g res or the Dallas district for the latter date were not available and July 12
figures had therefore to be repeated in the consolidated statement.
U.S. bonds, other than circulation bonds, on hand increased 33.9 millions, apt ific a t L af el i eof?SSn^ f
inStallnEnt
d*e on July IS. Treasury certll
™ } xonsl
n
150 millions representing the decrease for
Z Ci\y banks* Loans sec^ d V u - «
s
obligations show a de­
crease for the week of 1 1 .2 millions, while other loans and investments increased .

i L n t ' t J f ! ? ’ F^ r a11 reP0rtinS tenfes th® ratio of U.S. war obligations and
' iT L n t 1
< o b l i g a t i o n s to total loans and investments works out at 12-9
^

city oanks.

Wet demand deposits of all reporting banks fell off m o 7 n » n « ,

t r i M l i l V *6
‘ he 03,ltral
c « i ^ a i 2 30
S S’
slight decreases are shown for time deposits. Total reserves increased IQ 4 mill
*°

t o o s l t t V a l w / f ? - lTei y iargf

°utslde Greater lfew ^

4ecllne

0ash ln

sh0»=

111 d"P0.its, the ratio of investments to
For thu

deposits of all reporting banks shows a rise from 122.3 to 124.7 per Cent.

«t T

Z eZ l i l l % =ant s V isa of this r a t i “ frM1

the

from 14 M n
^
combined reserve and cash to deposits shows a further increase
from 14-7 to 15.3 per cent for all reporting banks and from 15,7 to 16.3 per cent
for the central reserve city banks. Total excess reserves, in the calculation of
vU
aCC°
1S taken of Governmant deposits, increased from £9.9 to 102*7 mill­
ions, the greater part of the gain falling to the share of the banks outside the
central reserve cities.




P le a s e d for publication Sunday morning July 28, 19I 8- Not earlier.
STAOHffiNT OF COrffiDJED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BA1CCS AT CLOSE OF BUSINESS JULY 26

Gold in va-ult and in
Gold settlement fund,

¥
Beard

Gold with°F r
i
SA
4
.
Gold with Federal Reserve Agents
G o W Redemption Fund
reserves
I . ^ender notes, silver, etc.
reser! e®
^
i-Us discounted for members and j?.R. Banks

1Total 0 i n s 1^ ° h ^ Barket
b
II

S

C

rvo

? ?

+

•

4

U. S. Government long-term securities
U S.Government short-term securities
Ail other earning assets
xotal earning assets
Lnco.lected items (Deduct
from gross deposits)
"
f ! ,
K

p

a

l d

1918

y 26*

•

3“ *

1,028,417.000

910,420,000
_Jlti^000_
1,974,200,000
55 , 129,000
2 , 029, 329,000
1 , 302, 151,000

“

,

551647.000
2 , 031 , 095,000
1 , 203,346,000
205,932.000
1,409,278,000
40,259,000
16 , 358,000
qg .000
l',465,993 000
658, 588,000
(a)
^
X

■
1,134,000

76

,

t

o

,

000

1,134,000

27, 1917

76.383,000

919,003,000
434,193 COO
9,0g7 ,000
1,362,263,000
51 , 789loQQ
1 , 414 *052,000
138, 459, 000.
195,097,000
333,556,000
41,135,000
3 5,818,000
1.769.000
412 278 000
650!000
JESLOQQ
2, 021, 237,000

57,825,000

2,225,268,000
1,829,045,000
1 1 , 000,000

ll+ 032 000
3
1,135 1*56’ 000
137 SI1 ’ 000
;
Q Rk7 nnn
1 . 4 2 5 ^ .000
534,015,000
2 459 000

4,166,122,000

233>040,0C0
1,1*35,196,000
1*01,186,000

llflgglooo
2,021,237,000

144,828,000

1 , ItSS.Ol^OOO
1*S0,3U1,000

111.840.000

112 052 000
2,181,262,000
1,870,835,000
11,084,000
_

2L . a 2, PQ0

4,165,403,000
56-5$

58-2$

77 1^

5 8 .1%

53*8$

. go.ijg

(a) Includes amount formerly shown against items Due from or Due to other F. R„ Banks




340,290,000
_ _ 3 4 , 655^00
1,975,448,000

I

2^ I , m
Ratio of ^
*
* *
.*
m t io of gold reserves to net deposit and
F, R. note liabilities combined
Ratio of total reserves to nefr deposit and F, R»
note liabilities combined

1,000,503,000

:? K

r , s

191*

U60,764,000

— §05x214^000
1,507,425,000
40,090,000
16 , 922,000
_______ 1 ^ 0 0 0
1,564,540,000 552,392,000

notes

uuiplus
overnment deposits
fee to members - Beserre accost
Collection items
Other deposits including foreign government credits
Total gross deposits
p p* w
8 1f actl3 l .cil‘° lllati 0"
a
F. R. banknotes in circulation - net liability

^

X-intfct,
1918.

nst.

Released for publication Sunday morning July 2?, 1918 .
Hot earlier.
•
X-1089b
WEEKLY STATMENT OF RESOURCES A ID LIABILITIES FOB EA.CH OF THE FEDERAL RESERVE BAHKS AT CLOSE OF BUSINESS JULY 26, 1918.
i(in thousands of dollars.)
R E S O U R C E S
Boston Uew York
Phila. Clevel. Richm. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total
Gold in vault and in transit
g,088
299,344
1,104 35,230
6,330
6,898 27,419
1,693
8,710
337
6,229 16,130
418,012
Gold settlement fund, F.R.Board
38,787
253,326 49,728 46,791 19.2*18 19,616 50,1+77 22,26l l6,34l 37,438
13,153 31,611
598,777
____ Slit--- 4,012..
8lU....1 ..C46.______4G?______ 3 U9
1,628
Ufa
r
.Ei
U07
ftfO
II a6?f
t
Gold with foreign agencies
Total gold held by banks
47,689
557,182 51,646 83,067 25,985 26,863 79,524 24,419 25, 51$ 38,356
19,789 4 8 ,3 8 1 1 ,0 2 8 ,4 1 7
Gold.with Federal Reserve Agents
56,445
279,859 99,389 110,629 32,950 26,339 118,392 31,496 23 ,596 33,497 13,980 83,848
910,420
Gold redemption fund
-3-165____ ^ 5 ® ________________ 965— ' __3 0 5
_ --___ 2
___ 3^556 . 2 r40?
?,039
1 ,0 35
l , 2g0
—
35,363
Total geld reserves
107,299
851,866 154,535 194,661 59,24o 55,473 201,472 58,317 51,151 72,938 35,019 132,229 1 ,9 7 ^ 2 0 0
Legal tender notes, silver, etc.
2,564
44,197
687
357
697
629
2.913
918
139
295
1,524
209
55.129
Total reserves
103,863
896,063 155,222 195,018 59,937 56,102 204,385 59,235 51,290 73,233
36,543 132,438 2 , 029,329
Bills dii-.fer members & F.R.Banks
91,174
396,395 81,391 99,025 59,810 38,262 238,44l 59,666 55,690 78,255
3 8,216 65,826 1,302,151
Bills boMght in open market
24,297
104.033 13.430 15,776
4,118
3 ,5 63 17.284
2.373
4l0
129
1.320 18.541
205.274
Total tills on hand
115,471
500,428 94,821 114,801 63,928 41,825 255,725 62,039 56,100 78,384
3 9 , 536 84,367 1 , 507,425
U *s. G
crve.- iteiit long-term securities
m
1,122
1,557
1,747
6,704
1,233
771
7,090
2,233
1,317
8,876
3,979
'3.461
40,090
U.S.Government short-term
"
l,4l6
3,548
1,232
1,690
1,510
983
2,112
321
946
1,259
901
1,004
16,922
All oth^r earning assets
------ 51--- -- - --- - ----- 15_________ _________
___ ______ ___ _______ 37
------- 103
Total earning as nets
118,009
505,584 97 , 800123,195 66,671 43,594 264,927 64,593 58,363 88,519
44,453 88,832 1.564,540
Uncollected items (deduct from
33,930
Il4 ,l4 4 64,902 50,957 38,457 28,645 83,002 34,032 n , 66l 52,420
13,269 32,973
558,392
grocs deposits)
5$ Eedempvf-und against F.R.Bk.notes
-----14
94
--372
137
84
7 OI
All other resources
7 80_____ 3.060
1 .2 64______57 2
1.383______ 663
1 .514______514_____ 236 0
157______524
1.574
12.44l
total resources
262,582 1,518,851 319,188 369,742 166 , 44s 129,018 553,922 158,374 121,550 214,901
94,926 255,901 4 , 165,403
L I A B I L I T I E S
Capital paid in
6,474
19,967
6,939
8,610
3,917
3,117
9,929
3,6o4
2,846
3,542
3,001
4,495
76,44i
Surplus
75
649
—
—
116
-0
4
216
—
38
—
—
—
1 , 131*
Government deposits
15,178
7,539 17,783 20,956 11,156 14,246 38,782 16,756 15,347 30,035
16,963 28,299
233,040
Due to members, reserve account
86,021
660,176 81,124 103,970 42,920 34,923 177,731 42,330 35,869 70,847 30,669 68, 6l 6 1,435,196
Collection items
27,24s
98,039 49,356 56,494 28,285 18,675 45,483 .21,623
8,293 21,828
10,571 15,291
4 01 ,1S6
Other dep. incl .foreign Govt.Credits
103.625
--- - 393______rrr________ 5___ 4^785
234_______ 5 4 _____ - - _______ 28
? r7 l 6
l l l rS40
Total gross deposits
128,447
869,379 148,263 181 ,813 82,361 67,849 266,781 80,943 59, 563122,710
58,231 114,922 2,181,262
F.R. notes in actual circulation
125,759
620,439 162,918 177,616 78,819 57,237 271,777 72,726 58,0g£ 78,761
32,750 133,945 1,870,835
F.R.Bank notes in circ-,net liab.
-----110
1,998
--7,990
-986
11,084
All other liabilities
1.827
8.417
1.068 . 1 .703___ U 3 5 ______6£5_ -1..221___ 1, 101
_
1,015.___1 . 898
944
1.553
2 4 r6U7
TOTAL LIABILITIES
262,582 1 , 518,851 319,188 369,742 166,448 129,018 553,922 158,374 121,550 214,901 94,926 255,901 4 , 165,403




Released for publication Sunday morning July

2S4 191S

Not earlier.

x

- i o

s 9

c

STATEMENT OF FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS JULY 26, 1918(in thousands of dollars.)
Kans.Cy. Dallas San Fran.
Total
Boston
New York Phila, Clevel. Richm. Atlanta Chicago St.Louis Minn
FEDERAL HESERVE NOTES:
Received from Comptroller
186, 640 1, 012, 080 230, 240 230, 000 116, 820 96, 740 372, 860 102, 800 78, 580 111, 700 68, 500 156, 980
2, 763,940
151,685
22,800

785,755 189,996 210,509
121,400 14,540 20,800

91,319
6,365

76,695 349,467
17,735 50,900

84,020
7,050

63,697
4.555

92,463
8.220

51,432 145,032
18,225

2,292,070
292.590

128,885

664,355 175,456 189,709

84,954

58,960 298,567

76,970

59,142

84,243

33,207 145,032

1,999,480

COLLATERAL SECURITY FOR OUTSTANDING
NOTES:
Gold coin-and certificates c n hand
s
--.
Gold redemption fuiia
6,945
Gold settlement fund, F^R.Board
49,500
Eligible paper, minimum required
72,440
Total
128,885

.163,740
11,312
16,119
8,655
9,317
100,000 90,734 90,000
384^496 76,067 79,080
664,355 175,456 189,709

450
32,500
52,004
84,954

2, 504
2,265
549
21,570 117,843
32.621 180.175
58,960 298, 567

1,866
29 , 630
45.474
76,970

13,102
994
9,500
35.546
59,142

2/137
31,360
50.746
84,243

11,581
8,747
1,815
584 75,101
19.227 61,184
33,207 145,032

202,239
59,859
648,322
1.0 89 .06 0
1,999,480

AMOUNT OF ELIGIBLE PAPER DELIVERED
TO F. R. AGENT
115,471

500,428

61,784

32,744 243,859

54,296

51,812

78,384

39,536

73,253

1,453,246

33,207 145,032
457 11.087
32,750 133,945

1,999,480
128.645
1,870,835

Chargeable to F.R.Agent
In hands of F.R* Agent
Issued to F.R. bank less amount
returned to F.R. Agent for re­
demption

87,415 114,264

M I M O R A N D A
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. notes outstanding
F* R notes held by bank
F.R.notes in actual circulation

128,885
3,126
125,759

664,355 175,456 189,709
43,916 12,538 12,093
620,439 162,918 177,616

84,954
6,135
78,819

58,960 298,567
1.723 26,790
57,237 271,777

76,970
4.244
72,726

59,142
1,054
58,088

84,243
5.482
78,761

DISTRIBUTION OF BILLS, U.S.GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS
BY MATURITIES.

Bills discounted and bought
U.S.Government short-term securities
Municipal warrants



Within 15 days
884,111
2,045
4

16 to 30 days
200,758

31 to 60 days
240,900
350
51

6l to 90 days
141,331
4,155
1

Over 90 days
40, 325
10^372
10

Total
1,507,425
16,923

66

I
Released for publication Sunday morning July 28, 1918.
Not earlier.
X-1089d
STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BASKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER
SELECTED CITIES AS AT CLOSE OF BUSINESS JULY 1$, 19IS.
1. Data for all reporting banks in each district. _________ (In thousands of dollars.)
Boston New York Phila. Clevel. Richm. Atlanta Chicago St,Louis Mirm. Kans.Cy. Dallas San Fran* Total
No- reporting banks
42
101
1+
9
85
42
73
43
32
3U
95
4s
717
73
July 1P
.
U. S» bonds to secure
figures . „
circulation
lk , 621
12,776 17,^17
51, 92612.970 *±3,539 24,565 15,590
6,469 14,051 17>629 34,655
272,268
Other U. S. bonds including
Liberty bonds
258,304 25,905 57 , 1+22 31,030 27,434
1^,991
82,322 23,^96 12,649 18,817 15,516 23,243
591,729
U, Si certificates of
indebtedness
29,799
255,329 26,070 37,245 1^,375 12,717
69,712 17,217 12 , 29s 18,624 11,169 25,555
530,170
Total U, S» securities
59,411
565,679 64,945 132,206 69,970 55,7^1
170,870 5s, 130 131 ,
1,39^,227
Loans secured by U. S»
bonds, etc.
45,905 230,153 42,584 37,530 12,625 5,385
53,39*+ 14,733
5,975
^,381
5,948
9,151
473,824
All other loans and
. investments
GlS’ S3k S13’ Sl}
2 7 4 , 8 1 4
4
, 7 4 3
3 6 7 , 6 5 4
2 5 3 , 1 9 8
4 7 1 , 7 7 2
1 6 5 , 0 6 3
5 1 5 , 7 6 2
10 ,531,3^7
Reserve with F.R* bank
6 6 , 6 5 4
6 1 ^ , 2 0 0
6 5 , 7 1 7
7 9 , 9 0 4
2 7 , 1 8 6
2 5 , 2 0 4
1 3 5 , 7 3 5
3 0
212 1 7 , 8 7 3 4 2 , 2 8 7
4 4 , 6 5 5
1 , 162,111
Cash in vatiJ t
2 6 , 6 9 5
1 2 2 , 0 3 0
2 0 , 8 8 0
3 6 , 2 0 7
1 7 , 1 7 9
5 2 , 5 2 2
1 2 , 3 2 6
8 , 2 0 7
1 5 , 7 0 6
1 1 , 2 8 4
2 0 , 2 8 5
364,387
Net demand deposits
6l’ ;4 b 6 4 2 5 2 , 9 3 7 5 6 1 , 6 5 2 6 9 9 , 5 1 1 2 6 6 , 3 5 2 1 9 5 9 ^ 7 1 0 1 6 , 8 5 5 2 5 0 0 2
9
1 6 0 , 1 3 5
3 5 9 , 1 0 4
1 3 7 , 0 6 5
3 7 3 , 6 1 1
8, 922,663
Time deposits
9 3 , 8 3 2
2 6 5 , 6 1 9
1 5
3 4 0 2 2 6 , 0 3 5
4 7 , 0 1 7
8 2 , 9 8 3
3 5 6 * 7 6 6
7 4 , 4 0 7
4 4
2
6 2 , 0 9 2
2 5
9 0 1 1 1 2 , 4 6 2
1,408,734
Gov ernment d 3-osits_____ _
0
G2+3 M
3 2 1
2 4 0
1 5
2 4 7
2 1 . 1 1 0
1 8 , 9 7 6
1 2 . 9 9 9
6.889 1 1 . 4 7 0 ____ 6.03.^55
2 . Data for banks in each Central Reserve city, banks in all other reserve cities, and other reporting banks.
Hew York
Chicago St .Louis Total Cen.Res.Cit ies
Reserve Cities
Country Banks
Total
July 19- July 12 • July 19 July 19 July 19--July 12
—
July 19--July 12 July 19--July 12
July 19--July 12
Eo. reporting 'banks
6s
68
40
14
122
122
430
428
165
163
717
713
U*S. bonds to secure
3

5 1

. 9

9

8

l

,

l

i

,

1

,

4

, 3

4

1

,

,

,

^

—

,

3 - Q j - 5 3 2 _ . 3 6 -j. 3 5 1 —

l & l f X

Q . .......

,

, 5

7

4

s

,

—

4

6

—

1 4 & . S

g o

*

,

0 3 _______

'

circulation
Other U-S* bonds including
Liberty bonds
U.S* certificates of
indebtedness
Total U-S* securities
Loans secured by U*S.
bonds, etc.
All other loans and in­
vestments
Reserve with F*R* bank
Cash in vault
Net demnd deposits
Time deposits
Government deposits



37,643

37,63 8

1,46^9

10,392

49,504

49,499

172,883

173,553

49,881

^9,711

272,268

272,763

55,722

48,637

591,789

557,892

35,336

42,580

530,170

230,717

234,243

47,55^

16,497

294, 76s

2$S,c 2$

841,233

213,205

242,396
510,756

377,208
649,089

39,191
88,214

11,627
32,576

293,274
637,5^6

443,328
722,937

201,560
615,676

249,816
636, 57^

206,522

223,181

38,303

11,966

256,791

274,039

187,580

182,304 29,453

4 , 008,026 4 , o 4i ,478 259,926
590,612 96,552
522,713
108,961 114,798 34 ,662
3 ,9 ^ ,3 7 3 4, 038,568 692,770
216,711 139,070
215,771
299,812 419,927 32,077

277,293
22,564

17^,015

177,136

178,182 1
53,359

28,717

473,824

735,784

1 , 566,439

485,060

!

6,487

16,918

141,005 140,928 1 , 39^,227

----- ^

150,110
408,200
348,807

1 ----- ~

155,732
0^ 0, ixo
408,715
508,061

^

806, ;666
246,415

JL ,

JLXJL

40,262 38,615
364,387
371,^83
b5 i ,b 5b b5l ,835 8 , 922,663 9 , 032,371
205,311 193 , ? 6s 196,322 1 , 408,734 1 , 410,345
263,113 38,633 44,705
603,855
815,879

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