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• Released f o r p u b l i c a t i o n Sunday morning J u l y 2g, 191S, Not e a r l i e r * X-10S9 STATEMENT FOR THE PRESS, J u l y 27, i g i g . S u b s t a n t i a l increases, in d i s c o u n t a c t i v i t y , a l s o c o n s i d e r a b l e g a i n s in Government^deposits by the Reserve banks o u t s i d e of New York and Boston, a r e i n d i c a t e d in the f e d e r a l Reserve Board 1 s weekly statement issued a s a t c l o s e of b u s i n e s s on / J u l y 26, i g i g , INVESTMENTS: A l l the banks, except ; New York r e p o r t n e t a d d i t i o n s t o disco-rated b i l l s on hand, Chicago, San F r a n c i s c o , P h i l a d e l p h i a and Kansas C i t y showing the largest g a l a s . Of the t o t a l discounts on hand, $675,665,000 a s a g a i n s t $601,140], 000 t h e week b e f o r e i s r e p r e s e n t e d by war p a p e r , i , e , , member banks 1 n o t e s secured by oveminent war o b l i g a t i o n s and customers 1 paper s i m i l a r l y secured* No a p p r e c i a b l e changes a r e shown in o t h e r earning a s s e t s , including a c c e p t a n c e s and U,S. s e c u r i t i e s BE^QSITS; Government d e p o s i t s a t a l l banks, except Boston and New York, show c o n s i d e r a b l e i n c r e a s e s , the t o t a l g a i n f o r t h e week being 83*2 m i l l i o n s . Members1 r e s e r v e d e p o s i t s f e l l off 52*9 m i l l i o n s , a l l t h e banks except Kansas C i t y r e p o r t ing n e t r e d u c t i o n s in r e s e r v e b a l a n c e s , a p p a r e n t l y a s t h e r e s u l t of payment by member banks f o r Treasury c e r t i f i c a t e s of t h e more recent issues* Net d e p o s i t s show an i n c r e a s e f o r the week of 56.2 m i l l i o n s , RESERVES: Gold r e s e r v e s decreased by 1 . 2 m i l l i o n s and t o t a l cash r e s e r v e s by * m i l l ions» The amount of gold h e l d with f o r e i g n a g e n c i e s shows a f u r t h e r reduct i o n t o l l • 6 m i l l i o n s , a s a g a i n s t $2»5 m i l l i o n s h e l d during the f i r s t h a l f of the year. ^The r a t i o of t o t a l reserves t o a g g r e g a t e deposit and Federal Reserve note l i a b i l i t i e s d e c l i n e d from 59 t o 55*1 p e r c e n t . CIRCULATION: Curing the week the Agents issued 16*9 m i l l i o n s net of Federa l e serve notes# ^ The banks r e p o r t an i n c r e a s e of 4 l , 8 m i l l i o n s of Federal Reserve notes in a c t u a l c i r c u l a t i o n beside# a small i n c r e a s e in t h e i r l i a b i l i t y on Federal Reserve bank n o t e s in c i r c u l a t i o n * CAPITAL: Payment by newly admitted members f o r Federal Reserve bank stock a c counts l a r g e l y f o r an i n c r e a s e of $52,000 in p a i d - i n c a p i t a l , Richmond, Minneapolis and Chicago r e p o r t i n g the l a r g e s t i n c r e a s e s f o r t h e week. CONDITION OF MEMBER BANKS, JULY 19, i g i g , f i g u r e s had therefore t o be repeated in the consolidated statement. 6g§WWSPS* crease f o r the week of 1 1 . 2 m i l l i o n s , while other loans and investments increased . piSBEillE. ions, the greater part of the gain f a l l i n g to the share of the bank's outside the central reserve c i t i e s . P l e a s e d f o r p u b l i c a t i o n Sunday morning JTaly 28, 1918Not e a r l i e r . R 1? q n ^ T ^ r OF COrffiDJED RESOURCES AND LIABILITIES OF THE TWELVE FEDEBAL RESERVE BA1CCS AT CLOSE OF BUSINESS JULY 26, 1312. lip:: 4 ^ j Gold Eedenption buu f o r memb3rs tai M d &tics «g 35.363,000 .,^,^,000 ,.s Government d e p o s i t s 2 '029i329'°00 1,^,^6,000 2 '031'095'000 S.oW.OCO w "i§I • . t57,OQQ 2,021,237,000 76.W.OOO 233,OUO,OCO E !Em 1 *:6^:000 '-'BE' SEFEB,,!r^L<r*-> Capital paid ia - If s a X-1080a 76,3^.000 144,828,000 ' ' 57,825,000 143,032 000 W 3 : ^ : g Other d e p o s i t s i n c l u d i n g f o r e i g n government c r e d i t s F TRtanoK°SS dSp°Si1tS . F, R. n o t e l i a b i l i t i e s combined R a t i o of t o t a l r e s e r v e s t o net' d e p o s i t and F, R„ n o t e l i a b i l i t i e s combined , lll.gU0.000 112 052 000 2,181,262,000 2,225,268,000 3ii 3ii 5 6 . 5$ ' 58.1$ (a) I n c l u d e s amount f o r m e r l y shown a g a i n s t items Due from or Due t o o t h e r F . R„ Banks c« ?<i 0 59-g$ nst. q RUv'onn 1,425,850,000 -t-> w '' * * 80.1$ Released f o r p u b l i c a t i o n Sunday morning J u l y 28, 1918. Hot ear? i e r . • X-1089b WEEKLY STATMENT OF RESOURCES Ai-TD LIABILITIES FOB EACH OF THE F3BEEAL RESERVE BAIBCS AT CLOSE OF BUSINESS JULY 26, 1918. (in thousands of d o l l a r s . ) RESOURCES Boston Uew York P h i l a . C l e v e l . Richm. A t l a n t a Chicago S t . Louis Minn. Kans.Cy. D a l l a s San F r a n . T o t a l Gold in v a u l t and in t r a n s i t 8,088 259,344 1 , 1 0 4 3 5,230 6,330 6 , 8 9 8 27,419 1,693 8,710 337 6,229 16,13 0 418,012 Gold s e t t l e m e n t f u n d , F.R.Board 38,787 253,326 49,728 46,791 19,248 19,616 50,477 22,261 l 6 , 3 4 i 3 7 , 4 3 8 13,153 31,611 598,777 Gold with f o r e i g n a g e n c i e s SlM k^Dl? glU l^CiiB. kC.7 3^5 l.f.PX 46q k6c; 5^ koj A.'iO n T o t a l gold h e l d by banks 47,689 557,182 51,646 83,067 25,985 26,863 79,5*24 24,419 25,51$ 38,356 19,729 48,381 1,028,417 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 f u n d 3J&5 L^S25—3^5-00 9^5— 3-0-5 2+Zp ? t 40? ?,0iq 1,085 1,250 3^,3^5 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 t e n d e r n o t e s , s i l v e r , e t c . 2,564 44,197 687 3 57 697 629 2.911 918 119 295 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 , 0 2 9 , 3 2 9 B i l l s d i s . . f c r members & F.B.Banks 91,174 396,395 81,391 99,025 59,810 3 8 , 2 6 2 238,441 59,666 55,690 78,255 3 8,216 65,826 1 , 3 0 2 , 1 5 1 B i l l s boMght in open ire,ricet 24.297 104.033 13.430 15.776 4.118 3.563 17.284 2.171 4l0 129 1.320 18.541 205.274 T o t a l b i l l s on hand 115,471 500,428 94,821 114,801 63,928 4 l , 8 2 5 255,725 62,039 56,100 78,384 39,536 84,367 1,507,425 U.S.Gcrve.-mitent l o n g - t e r m s e c u r i t i e s 1,122 1,557 1,747 6,704 1,233 771 7,090 2,233 1,317 8,876 3,979 ' 3 , 4 6 l 40,090 U.S.Government s h o r t - t e r m " l,4l6 3,548 1,232 1,690 1,510 983 2,112 321 946 1,259 901 1,004 16,922 Al] o t h e r earning a s s e t s 51 15 —37 103 T o t a l earning a s s e t s 118,009 505,584 97,800 123,195 66,671 43,594 264,927 64,593 58,363 88,519 44,453 88,832 1 , 5 6 4 , 5 4 0 Uncollected items (deduct f r o m 33,930 I l 4 , l 4 4 64,902 50,957 38,457 28,645 83,002 3 4 , 0 3 2 n , 6 6 l 52,420 13,269 32,973 558,392 grocs deposits) Jfc Eedempviund a g a i n s t F»R,3k»not es ——— ——— ——— ——— 14 94 ——— ——— 372 137 84 701 All other resources 780 3.060 1.264 572 Lt3.§3 663 1.514 5l4 236 0 357 524 1,574 12.44-1 TOTAL RESOURCES L I A B I L I T I E S Capital paid in Surplus Government d e p o s i t s Due t o members, r e s e r v e account Collection items 262,582 1,518,851 319,188 369,742 166,448 129,018 553,922 158,374 121,550 214,901 6,4?4 75 15,178 86,021 27,248 Other dep. i n c l . f o r e i g n G o v t . C r e d i t s Total gross deposits 128,44? F.R. n o t e s in a c t u a l c i r c u l a t i o n 125,759 F.R.Bank n o t e s in c i r c . , n e t l i a b . All other l i a b i l i t i e s 1.827 TOTAL LIABILITIES 19,967 649 7,539 660,176 98,039 6,939 8,610 3,917 — —— 116 17,793 20,956 11,156 81,124 103,970 42,920 49,356 56,494 28,285 103.625 393 869,379 148,263 181,813 620,439 162,918 177,616 8.417 1.068 1.703 82,361 78,819 L.23-5 3,117 9,929 40 216 14,246 38,782 34,923 177,731 18,675 45,483 3,604 — 16,756 42,330 21,623 2,846 38 15,34? 35.869 8,293 3,542 — 30,035 70,84? 94,926 255,901 4,165,403 3,001 — 16,963 30,669 21,828 10,571 5 4*ZS5———232#54 --67,849 266,781 80,943 59,563 122,710 57.237 2? 1,777 72,726 5 8 , 0 7 8 , 7 6 1 110 1,998 7,990 665 3,221 1,101 1,015. 1 . 8 9 8 4,495 76,44% — 1 , 1 3 4 28,299 233,040 68,6l6 1,435,196 15,291 401,186 28 2,%l6 lllrS40 58,231 114,922 2 , 1 8 1 , 2 6 2 32,750 133,945 1 , 8 7 0 , 8 3 5 986 11,084 944 1.551 ?4, ^4.7 262,582 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 f o r p u b l i c a t i o n Sxmday morning J u l y 28, 191S x-ioggc Not e a r l i e r . STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS JULY 26, 1918(in thousands of d o l l a r s . ) Total Boston New York P h i l a , C l e v e l . Richm. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . FEDERAL RESERVE NOTES: Received f r o m C o m p t r o l l e r 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 34,955 226,325 40,244 19,491 25,501 20,045 23.393 1 8 . 7 8 0 14.883 19.237 17.068 11.948 Chargeable t o F.R. Agent 151/685 785,755 189,995 210,509 91,319 76,695 349,467 84,020 63,697 92,463 51, 432 145,032 2,292,070 22,800 121,400 14,540 20,800 In hands of F*R, Agent 6,365 17.735 50,900 4.555 7.050 8.220 18, 225 292.590 I s s u e d to F,R* bank l e s s amount returned to Agent f o r r e demption 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 c o i n and c e r t i f i c a t e s on hand 6,945 Gold redemption f u n d 49,500 Gold s e t t l e m e n t f u n d , F^R. Board 72,440 E l i g i b l e p a p e r , minimum r e q u i r e d 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 58,9 60 298,567 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 1.089.060 1,999,480 AMOUNT OF ELIGIBLE PAPER DELIVERED 115,471 TO F . R. AGENT 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 87,415 114,264 MEMORANDA FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F, R* n o t e s o u t s t a n d i n g F« R. n o t e s h e l d by bank F . R . n o t e s in a c t u a l c i r c u l a t i o n 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. B i l l s d i s c o u n t e d and bought U.S.Government s h o r t - t e r m s e c u r i t i e s Municipal w a r r a n t s Within -15 days 884,111 2,045 4 16 to 30 days 200,758 31 t o 60 days 240,900 350 51 6 l t o 90 days 141,331 4,155 1 Over 90 days 40, 325 10,372 10 Total 1,507,425 16,923 66 R e l e a s e d f o r p u b l i c a t i o n Sunday morning J u l y 28, 1918. Not e a r l i e r . X-lOgQd STA.TMEHT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BASKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS JULY 1,9, 1918. 1. Data f o r a l l r e p o r t i n g banks i n each d i s t r i c t . (In thousands of d o l l a r s . ) Boston New York P h i l a . C l a v e l . Richm. A t l a n t a Chicago S t , L o u i s Minn. Kans.Cy. D a l l a s San F r a n . T o t a l No. r e p o r t i n g "banks 42 101 49 85 Up 43 73 32 95 34 717 48 73 J u l y " 12 U. S. "bonds t o s e c u r e circulation 14,621 51,986 12,970 *6,539 24,565 15,590 18,776 17,417 6,469 14,051 272,268 34,655 Other U. S. bonds i n c l u d i n g L i b e r t y bonds 14,991 258,304 25,905 57,422 31,030 27,434 82,382 23,496 12,649 18,817 15,516 23,843 591,789 U, S: c e r t i f i c a t e s of indebtedness 29,799 255,389 26,070 37,245 14,375 12,717 69,712 17,217 12,298 18,624 11,169 25,555 530,170 T o t a l U, S» s e c u r i t i e s 59,411 565,679 64,945 138,206 69,970 55,741 170,870 58,130 131,4*6:: £ , 492- W 3 1 4 L W 0 5 3 1,394,227 Loans secured by U. S» amr bonds, e t c . 45,905 230,155 42,584 37,530 18,685 5,385 53,394 14,733 5,975 4,381 5,948 9,151 473,824 A l l o t h e r l o a n s and . in / estments ^ , 9 3 4 973,611 351,998 274,814 1,411,743 367,654 255,198 471,772 165,063 515,768 10,531,347 Reserve with F.R. bank 66,654 61^,200 65,717 79,904 27,186 25,204 135,735 30,212 17,873 42,287 1 4 , 5 7 4 44,655 1,162,111 Cash in van] t 122,030 20,880 36,207 17,179 14,346 58,582 12,386 8,207 15,706 11,284 20,285 364,387 Net demand d e p o s i t s 6U 5 ; 4b6 4,252,937 561,652 699,511 266,352 195,947 1,016,855 250,028 160,135 359,104 137,065 373,611 8,922,663 Time d e p o s i t s 93,832 265,619 15,340 226,035 47,017 82,983 358.766 74,407 44,2g0 62,092 '25,901 112,462 1,408,734 Government d3-d o s i t s 6.egg 11.470 6 2 ^ 2 4 2 — 3 2 i x g k 0 — 3 - Q ^ 5 3 g - J 6 a - 5 L - i ^ 7 0 15,247 48.801 21.130 18.Q76 i2.qgg 603,855 2. Data f o r banks i n each C e n t r a l Reserve c i t y , banks in a l l o t h e r r e s e r v e c i t i e s , and o t h e r r e p o r t i n g b a n k s . New York Chicago St .Louis To t a l C e n . R e s . C i t i e s Reserve C i t i e s Country Banks Total J u l y 19 J u l y 12 " - - - - - - - - J-u l y 19 J u l y 12 J u l y 19 J u l y 12 J u l y 1 9 — - J u l y 12 J u l y 19 J u l y 12 No. r e p o r t i n g banks 68 68 40 14 122" 122 430 428 165 163 717 713 U.S. bonds t o s e c u r e circulation 37,643 l , 4 6 ' 9 10,392 37,63 8 49,504 49,499 17^, 883 173,553 49,881 49,711 272,268 272,763 Other U.S. bonds i n c l u d i n g L i b e r t y bonds 230,717 234,243 47,554 16,497 294,768 2$s, cm 241,233 213,205 55,788 48,637 591,789 557,892 U.S. c e r t i f i c a t e s of indebtedness 242,396 377,208 39,191 11,687 293,274 443,388 201,560 249,816 3 5 , 3 3 6 42,580 530,170 735,784 T o t a l U.S. s e c u r i t i e s 649,089 88,214 38,576 510,756 637,546 788,937 615,676 636,574 141,005 140,928 1,394,227 1,566,439 Loans secured b y U.S. bonds, e t c . A l l o t h e r l o a n s and i n vestments Reserve w i t h F.R. bank Cash in v a u l t Net demand d e p o s i t s Time d e p o s i t s Government d e p o s i t s 206,522 223,181 38,303 11,966 256,791 274,039 187,580 182,304 29,453 28,717 473,824 485,060 4,008,026 4,008,026 4,041,478 4,041,478 859,986 277,293 5,145,305 5,161,819 4,543,556 4,504,642 842,486 843,097 10,531,347 10,509,558 590,612 96,552 22,564 588,713 707,829 708,338 400,981 382,244 53,391 52,144 1 , 1 6 2 , 1 1 1 1 , 1 4 2 , 7 2 6 108,961 114,798 34,662 trn 6,487 150,110 155,732 174,015 177,136 40,262 38,615 364,387 371,485 3,944,373 4,038,568 692,770 178,182 4,815,325 4 , 8 9 6 , 1 1 6 3 , 4 5 5 , 6 8 2 3 , 4 8 4 . 4 2 0 651,656 651,835 8,922,663 9 , 0 3 2 , 3 7 1 216,711 139,070 53,359 215,771 408,200 408,715 806,666 805,311 193,968 196,322 1 , 4 0 8 , 7 3 4 1 , 4 1 0 , 3 4 5 299,812 419,927 32,077 16,918 348,807 508,061 216,415 263,113 38,633 44,705 603,855 815,879
@FedFRASER