The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Released for publication Sunday morning Juiw 1%, 1$1%* Not earlier, 3U214. STATEMENT FOR THE P R E S S , June 16, igiy. L a r g e d i s c o u n t o p e r a t i o n s , m a i n l y a t t h e New Y o r k B a n k ; i n c o n n c e t i o n w i t h t h e L i b e r t y Loan, and h e a v y g a i n s i n g o l d r e s e r v e and d e p o s i t s , a r e i n d i c a t e d in the F e d e r a l Reserve Board*s weakly bank s t a t e m e n t i s s u e d t o d a y as a t close of b u s i n e s s on J u n e 15, 1917* The s t a t e m e n t d o e s n o t f u l l y r e f l e c t t h e c o n d i t i o n of t h e r e s e r v e b a n k s a f t e r t h u r e c e i p t of t h e s u b s c r i p t i o n s t o t h e L i b e r t y Loan, s i n c e t h e w e e k l y s t a t e m e n t s t o t h e Board i n most c a s e s were d i s p a t c h e d b e f o r e s u b s c r i p t i o n p a y m e n t s m a d e d u r i n g J u n e 15 w e r e d e f i n i t e l y a s c e r tained. and e n t e r e d on t h e b a n k s 1 b o o k s . As e x p e c t e d , t h e d e m a n d f o r l i q u i d f u n d s w a s g r e a t e s t a t t h e New Y o r k b a n k , w h i c h r e p o r t s a n i n c r e a s e o f a b o u t 9 2 m i l l i o n s o f d i s c o u n t e d p a p e r , a n d o f a b o u t 2 1 m i l l i o n s of p u r c h a s e d p a p e r o n hand* T h e b a n k a l s o r e p o r t s g a i n s o f o v e r 5 3 m i l l i o n s i n g o l d r e s e r v e a n d of a b o u t 40 m i l l i o n s i n t o t a l r e s e r v e a s t h e r e s u l t of r e d e m p t i o n of i t s n a t e s by t h e F e d e r a l R e s e r v e Agent and of a d d i t i o n s t o Government and member bank deposits* Other Federal reserve banks report but l i t t l e serves, except Chicago, which l o s t over 9 m i l l i o n s New Y o r k o f G o v e r n m e n t f u n d s * O w i n g t o t h e r e l a t i v p o s i t s as compared w i t h t h e g a i n in t o t a l r e s e r v e , of t h e b a n k s shows a d e c r e a s e of o v e r 5 p e r c e n t * change in t h e i r cash r e . largely through t r a n s f e r to e l y l a r g e r gain in net dethe cash reserve percentages H e a v y d i s c o u n t i n g o f b a n k p a p e r fcy t h e New Y o r k R e s e r v e B a n k a c c o u n t s l a r g e l y f o r t h e i n c r e a s e of 104+8 m i l l i o n s i n t h e b a n k s f h o l d i n g s of d i s c o u n t e d p a p e r , though Boston, P h i l a d e l p h i a , Chicago, D a l l a s and San F r a n c i s c o l i k e w i s e r e p o r t c o n s i d e r a b l e i n c r e a s e s i n t h e amounts of d i s c o u n t e d p a p e r h e l d , Of t h e t o t a l shown $ 1 5 ^ , 3 7 9 , 0 0 0 r e p r e s e n t s t h e a m o u n t of m e m b e r b a n k s ' c o l l a t e r a l n o t e s , m o s t of t h e m m a t u r i n g w i t h i n I 5 d a y s , a n d o v e r 45 p e r c e n t t & i n g s e c u r e d by U. S• c e r t i f i c a t e s o f i n d e b t e d n e s s * The E a s t e r n b a n k s , a l s o C h i c a g o and K a n s a s C i t y , r e p o r t s u b s t a n t i a l i n c r e a s e s i n t h e i r h o l d i n g s o f a c c e p t a n c e s 1 New York a l o n e r e p o r t i n g a n i n c r e a s e u n d e r t h i s h e a d of a b o u t 2 1 m i l l i o n ? * O t h e r e a r n i n g a s s e t s show c o m p a r a t i v e l y s m a l l changes* U* S» c e r t i f i c a t e s o n h a n d show a d e c r e a s e of 5 * 6 m i l l i o n s f o r t h e w e e k , t h r e e b a n k s r e p o r t i n g s a l e s of t h e s e s e c u r i t i e s i n seme v o l u m e * W a r r a n t s on hand show a f u r t h e r d e c l i n e to about 2,5 millions* T o t a l e a r n i n g a s s e t s - 483*9 m i l l i o n s - shew an i n c r e a s e f o r t h e w e e k of o v e r 1 2 5 m i l l i o n s a n d c o n s t i t u t e a t p r e s e n t S4b p e r c e n t of t h e b a n k s 1 p a i d - i n c a p i t a l ; c o m p a r e d w i t h 629 p e r c e n t t h e week b e f o r e * Of t h e t o t a l , d i s c o u n t s r e p r e s e n t 4 1 * 9 P e r c e n t ; a c c e p t a n c e s 3 3 * 9 P a r c e n t ) II. S , c e r t i f i c a t e s o f i n d e b t e d n e s s 1 1 * 3 P 0 r c e n t ; ;U« S< b o n d s 7 *5 P e r c e n * ^ o n e - y # a r T r e a s u r y n o t e s 4*8 p e r c e n t , and w a r r a n t s 0*6 p e r c e n t , An i n c r e a s e # f a b o u t $ 1 7 1 * 0 0 0 i n t h e a m o u n t o f t h e r e s e r v e b a n k s 1 p a i d - i n c a p i t a l i s l a r g e l y t h e r e s u l t o f a d m i s s i o n t o t h e s y s t e m of t r u s t c o m p a n i e s and S t a t e banks i n t h e B o s t o n and St* L o u i s d i s t r i c t s * Government d e p o s i t s show a n i n c r e a s e of o v e r m i l l i o n s , t h e l a t g q r i n c r e a s e w i t h t h e New Y o r k bank b e i n g due t o t r a n s f e r s of Government f u n d s from t h e o t h e r F e d e r a l r e s e r v e banks. Member b a n k s 1 r e s e r v e d e p o s i t s show a g a i n of 9 3 + 8 m i l l i o n s , a l a r g e p o r t i o n of w h i c h i s , h o w e v e r , s u b j e c t t o i m m e d i a t e t r a n s f e r t o G o v e r n m e n t a c count» The w e e k w i t n e s s e d t h e i s s u e b y t h e K a n s a s C i t y b a n k o f $ j o 2 z . COO o f F e d e r a l r e s e r v e b a n k n o t e s , a p p a r e n t l y i n c o n n e c t i o n w i t h L i b e r t y Loan t r a n s actions, F e d e r a l r e s e r v e n o t e s o u t s t a n d i n g a m o u n t now t o $5^7J 9 7 1 / 0 0 0 , a n i n c r e a s e f o r t h e w e e k of $ 1 5 , 4 4 4 , 0 0 0 » A g a i n s t t h e t o t a l a m o u n t of n o t e s i s s u e d t h e A g e n t s h o l d $ 4 5 9 j 9 4 - 2 j 0 Q 0 of g o l d a n d $ 6 9 , 1 4 5 , 0 0 0 of p a p e r * The b a n k s r ^ p c ^ t a n a c t u a l F* R . n o t e c i r c u l a t i o n o f $ % 1 , G l S , 0 0 0 a n d n e t l i a b i l i t i e s t h e r e o n of $ 4 3 , 0 2 4 , 0 0 0 . .ieleased f o r p u b l i c a t i o n Sunday m o r n i n g June 17, .1917. H E S O T R T I °sF'roMBI8ED — E S Not e a r l i e r ™ T ^ V ™ — F ° V ° Gold r e d e m p t i o n f u n d w i t h U n i t e d S t a t e s T r e a s u r e r Total gold reserve Legal t e n d e r n o t e s , s i l v e r , e t c Total reserve .... ] F i v e p e r c e n t r e d e m p t i o n f u n d a g a i n s t F . R. b a n k n o t e s . " ' " . * I s d i s c o u n t e d - -Members i l l s bought i n open market * h i t e d S t a t e s bonds ] uno-year Treasury n o t e s . . . , U n i t e d S t a t e s c e r t i f i c a t e s of i n d e b t e d n e s s '** Municipal warrants Total earning assets F e d e r a l r e s e r v e n o t e s - Net * . *! Due f r o m o t h e r F e d e r a l r e s e r v e b a n k s - N e t " I,970,uv0 -—^55^000 590,948,000 ^|^5.1|x000 bl 5,466,000 400,000 202,824,000 164,525,000 36,400,000 2 3,344,000 ^4,384,000 —2^470,000 483,947,000 H,351,000 : : : : : : : : : f r , ™ f s . E . s . ; Capital paid i n v . t . , . , , . - , Government d e p o s i t s Due t o m e m b e r s - r e s e r v e a c c o u n t r bank d e p o s i t s - N e t . . . Federal (fold Cash Cash gold ^ . t t g i t M u n i 6 i p a l 0 ^ l y . M t U r i t i 6 S , U n 6 1 5 1 9 1 ? : : ' : : : : h°°° ^ ii B u s i r o s ^ ^ i w _ ^ °~s%l917' 205,886,000 —SJJO^OOO 538,617,000 .37,693,000 576, 310,000 400,000 98,021,000 135,270,000 3°,3^7>000 23,338,000 59,960,000 —5.^.24^000 358,500,000 2b, 2 0 8 , 0 0 0 201,661,000 2,119.000 559,318,000 16.176.000 575,494,000 400,000 17,234,000 97,002,000 29,155,000 19,368,000 177,]4l,000 1,541.000 435,302,000 7 • 907,000 44],209,000 420 000 37,748^000 ' 122,$18,000 42,648,000 11,167,000 16,029.000 1/8,788,000 21,991,000 1 1 , 1 9 ^ . QQQ 225,676,000 19,504.000 l 57,171/000 57,000,000 ^^9']J^UOOO(a)&28,125,000 870,734,000(^)775,771,000 ' o r ° ° Z 43,024,000 . : . ' o i o s e | 5 s i.XX ** a g a i n s t n e t d e p o s i t and n o t e l i a b i l i t i e s a g a i n s t n e t d e p o s i t and n o t e l i a b i l i t i e s a g ' s t n e t d e p o s i t l i a b . a f t e r s e t t i n g a s i d e 40# a g ' s t n e t l i a b * on F . R . n o t e s i n c i r c u l a t i o n B i n ™ ™ a ^ r ' 9 ::::::::::::::::: , e r e s e r v e bank n o t e l i a b i l i t y reserve reserve reserve reserve % B A m s i ; M M U M 8 6 ; ° 1 0 4 , 1 0 1 000 1 833^000 367 9 9 6 0 0 0 1 3 ' 6 2 2 ! 000 381,618,000 4^0 000 20 4 2 7 ^ 0 0 0 64^948^000 52^875^000 4^190^000 22 0 6 7 000 164^07^000 24^4:9^000 0 0 i&Mm 2 1 : 3 6 5 : 0 0 0 a # J 56,054,000 18,5^4,000 726,104,000 55,731,000 28,^62,000 ... 864 010 55^751^000 J ' 32,476,000 19,444,000 12,606,000 8 003 000 'i.y.ooo " " 7 ' ^ 16 - la iS°° hk 3- % c\ ^ 30 d a y s fiSiS 942,226,000 ^7-0^ 79-2^ 3 1 - V L y s onn 741,051,"000 68.3$ 69.6$ 6 l 597,897^000 70.8$ 73-4# CM rn m r4 tJUjesa w X-21 4 b SDSTNESS JUKE S t - L o u i s Mirm'ls 2937. 8,298 14,394 2qi 10,888 Kan,Cy. Dallas S.Fran, Total 8,059 14,934 8,535 365,020 22,088 9 , 7 4 ? 1 1 , 0 7 5 221,970 22,983' '23,569 m 30,486 142 18,424 8 30, 494 300 1.168 19,592 100 1,122 24,105 12,471 210 221 23,790 2,854 4,819 6,199 ,1,490 9.053 6.309 2,233 1,857 1,444 1,340 2,500 2,072 212 15,442 11,578 4,739 8,588 292 53,166 4,543 -718 5.261 3,970 1,430 31,494 3,613 6,994 3,393 2,034 300 42 47,507 2,864 9,152 12.016 202,824 164.525 367,349 -2L -5^211 3,960 14,880 43,754 4,343 2,245 57,171 259,130 870,734 179,875 43,024 43.305 362 115 2,047 67,052 1,412.343 2,755 10,363 23,471 4,471 362 72,888 26,166 1^258 590,948 24,518 615,466 400 19,735 2,467 2,651 15,935 2,000 193 10,285 454 43.305 3,166 6,770 50,325 6,436 5,829 - - 2 1 — 26,042 124 36,400 23,344 54,384 2,4% 483,947 11,351 (a)5,642 290,320 4,672 9,844 146 23L 47,507 72,888 JLL 12,060 31,657 17,284 633 8,069 14.255 8,842 1,784 2,500 27,4J2 2,468 7,776 53,166 6,186 20 12,681 3,243 7,659 i Released for p u b l i c a t i o n Sunday morning June 17, 191?• Not e a r l i e r . WEEKLY STATEMENT OF RESOURCES AND LIABILITIES O F EACH OF THE FEDERAI, RBSlKHVI; B s l T A f (In thousands of d o l l a r s ) Boston N. Y. Phila. Clevel. Richm. Atlanta, Chicago RESOURCES . 6,979 "jjj $14,654 202,014 27,208 20,961 6, Gold coin and c e r t i f i c a t e s in vault 34,354 21,049 41,153 1 0 , 1 2 8 34,513 1 5 , 9 8 3 Gold settlement fund 7,839 23,113 47 1,451 ISO 6 637 Gold redemption fund 208 Total gold reserve 35,750 244,620 37,686 55,480 23,599 14,634 57,675 j68_ 18.634 201 Legal tender n o t e s , s i l v e r , e t c . 806 1.260 J m . J i l Total reserve 36,118 263,254 38,125 55,647 23,800 15,440 58,935 ^Jredemption fund - F. R. bank notes B i l l s discounted — members 12,593 1 3 6 , 9 9 1 10,473 3,524 3,271 4,968 9,738 B i l l s bought in #pen market 13,291 73,248. 11.196 11.552 22.291 1,952 5,367, 25,884 210,239 21,669 15,076 15,105 Total b i l l s on hand 5,223 27.259 United S t a t e s bonds 1,306 530 1,152 549 672 5,853 7,007 One-year Treasury notes 2,194 2,788 2,548 1,871 1,491 1,969 2,985 U. S. c e r t i f i c a t e s of indebtedness 22,014 3,000 2,000 2,600 3,500 3,520 5,091 Municipal warrants 366 158 1,265 27 J5_ ML Total earning a s s e t s 31,608 236,713 28,424 27,585 20,241 10,013 42, 495 Federal reserve n o t e s - Net 1,464 2,332 5,088 Due from other F. R. banks - Net 10,056 5,556 9,171 1,362 1,485 1,593 Uncollected items 32,428 81,903 32,695 22,199 11,205 9,689 43,489 All other resources JQ_ 104 768 l,66o _50 JtlL TOTAL RESOURCES 111,744 583,029 105,137 117,038 56,889 37.272 153.152 L I A B I L I T I E S . Gaoital paid i n 5,112 12,063 5 , 2 7 2 6,24? 7,062 2,387 3,436 ^ y e rninent d e p o s i t s 11,264 126,559 17,204 21,538 4,086 7,318 23,713 Due to members - reserve account 56,226 364,992 48,686 75,602 25,078 18,822 100,627 C o l l e c t i o n items 38,996 36,196 27,649 1 3 , 6 5 1 13,035 6,342 21,750 Federal reserve notes - Net 6,163 11,211 6,145 2,403 Due t o other F, R. banks - Net 35,536 Federal reserve bank note l i a b i l i t y All other l i a b . i n c 1 . f o r e i g n Gov. c iixs mo 1.5ZO 181 *3 r TOTAL LIABILITIES , 111,744 583.029 105.137 117.038 56.889 37,272 MEMORANDUM . F. R. notes issued t o banks 25,760 219,851 39,624 32,506 17,411 19,548 62,044 F. g. notes Beia..by„b&ike. 1.464 18,837 2,152 2,332 . 668 5.088 730 F. ft. notes in c i r c u l a t i o n 18,880 37,472 30,174 Gold and lawful money with Agent 25.760 194.851 62.044 5,470 1 6 , 4 7 7 l i i 32,506 ; (a) Difference between net amounts due from and net amounts due to other 2,429 1,500 3,587 203 67,052 1,412.343 24,209 26,349 19,746 23,639 .1,097 561, 327 2,46 7 23,112 25,788 19,419 21,172 9.657 21^018 .J&L953. J d L l t i — 2 1 * 6 3 9 Federal- reserve banks 527,971 36,356 459,942 R e l e a s e d f o r p u b l i c a t i o n Sunday morning June I f , 191?. Not e a r l i e r . X-214 c. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JUNE 1 5 , ( i n t h o u s a n d s of d o l l a r s ) Federal Reserve Notes: N. Y. Phila. Clevel. $47 , 4 8 0 409,640 6l,]40 Returned to Comptroller 10,670 77,48$ C h a r g e a b l e t o F . R. 36,810 Received Boston from C o m p t r o l l e r I n h a n d s of Agent F . R. A g e n t I s s u e d t o F . R- "bank l e s s a m o u n t r e t u r n e d t o F . R. Agent f o r redemption Amounts, h e l d by F. R. fund With Federal Reserve poard As s e c u r i t y f o r o u t s t a n d i n g n o t e s : Commercial paper T O T A L Amount ef c o m m e r c i a l p a p e r d e l i v e r e d t o F e d e r a l Reserve Agent Richm. A t l a n t a Chicago S t , L o u i s Minnls. Kas.Cy. Dallas S.Fran. 48,000 30,100 36,380 81,060 27,340 36,640 42,720 36,920 27,060 884,680 8,756 5,854 10,749 6,427 2,276 5,196 5,741 6,831 8.913 3,421 152,323 332,151 52,584 42,146 19,351 29,953 78,784 22,144 30,899 35,889 28,007 23,639 732,357 11,050 112,300 12,960 9,640 1,940 10,405 16,740 4,860 6,690 9,540 8,261 25,760 219,851 39,624 32,506 17,411 19,543 62,044 17,284 24,209 26,349 19,746 21,910 183,914 4,223 11,808 3,365 14,077 2,370 11,110 1,850 10,937 2,094 1,698 470 1,500 574 542 1,261 1,529 1,034 1,049 24,538 25,010 19,000 5,000 12,080 61,470 5, 750 5/740 16,060 5,030 22,590 179,730 11,941 3,071 7,627 3,131 6,390 2,572 17,284 24,209 26,349 19,746 7,630 3,131 6,812 2,779 ~ — 23,639 %otal. 204, 386 527,971 Agent: I n r e d u c t i o n of l i a b i l i t y o n outstanding notes: Gold c o i n and c e r t i f i c a t e s ! on h a n d Gold r e d e m p t i o n 1917. 2,000 - — 25,760 — — - 25,000 8, 297 219,851 39,624 25,007 8,304 — — 32,506 2,897 i7,4ii 19,548 12,411 3,071 — — 62,044 255,674 — — 23,639 68,029 527,971 69,145
@FedFRASER