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 June 23, 191S.
Not earlier*
X-1016
STATEMENT FOR THE PEES S.
June 22 > ISIS
Liquidation in some volume of investments accompanied by corresponding reduc
tions in reserve deposits is indicated by the Federal Reserve Board’ s weekly
bank statement, issued afe at close of business on June 21, 1918.
INVESTMENTS: Discounted bills on hand show a decrease of 84.7 millions, the
larger^dggregate decrease under this head shown for the New York, Atlanta, Kansas
City and Dallas banks being offset in part by gains at the Chicago, Philadelphia
and Cleveland banks. Owing to redemption of Treasury certificates due on June 18
aggregate holdings of war paper decreased from 653*9 to 544.2 millions, consti
tuting 58*4 per cent of the total discounts as against 64.3 per cent the week be
fore. Acceptances on hand fell off about 10.5 millions, mainly at New York and
Chicago, But little change is shown in the amounts of Government securities car
ried by the Reserve banks* Total earning assets indicate net liquidation of 92.8
millions for the week.
DEPOSITS: Government deposits show an increase of 3.9 millions, while mem
bers '^Teserve deposits fell off about 90.4 millions. Net deposits because of the
larger "float 11 represented by items received in payment of taxes show a decrease
of 143.4 millions.
RESERVES: Failure to synchronize entries of gold transfers between Federal
Reserve Banks is largely responsible for the apparent loss of 22*5 millions in
gold reserves. Because of the large decrease in net deposits the ratio of cash
reserves to combined net deposit and Federal Reserve note liabilities shows an
increase from 61.9 to 63.4 per cent,
FEDERAL RESERVE CIRCULATION: Federal Reserve Agents report additional net
issues of 12*1 millions of notes* The banks show a total increase in actual cir
culation of 26.5 millions of Federal Reserve notes and a slight decrease in their
Federal Reserve bank note liability.
CAPITAL: An increase of $59,000 in paid-in capital is due largely to payment
for Federal Reserve bank stock by newly admitted members, the San Francisco bank
reporting the largest increase for the week.
CONDITION OF MEMBER BANKS, JUNE 14, 1918.
Substantial gains in net demand and Government deposits, accompanied by much
smaller increases in loans and investments are indicated in the Board’s weekly
abstract of condition on June 14 of 689 member banks and trust companies in about
100 leading cities.
During the week under review the reporting banks decreased their holdings of
U.S. bonds, other than circulation bonds, by 8.8 millions and their holdings of
Treasury certificates by 66.8 millions. Total loans secured by U.S. war obliga
tions declined about 4.1 millions. Other loans and investments show an increase
of 143.6 millions, mainly in the Eastern districts, where tax payments were
heaviest. Of the total loans and investments the share of U.S. war obligations
and loans secured by such obligations declined from 17.1 to 16.4 per cent,
Net demand deposits of all reporting banks increased 166.1 millions, the in
crease for the member banks in the four Eastern districts alone being 134.2 mill
ions r Time deposits fell off 37,4 millions, the decrease being especially large
for reserve city members in the Chicago district, outside Chicago proper.
The
week witnessed a net increase of 103.1 millions in Government deposits, this in
crease apparently representing tax funds redeposited in Eastern depositary insti
tutions, largely in New England and New York, Aggregate reserves show a gain for
the week of 80.7 millions, while cash in vault decreased 11,4 millions>
Owing to the relatively large gain in deposits the ratio of investments to
total deposits of all reporting banks shows a decline from 111 to 109,3 per cent.
For the central Reserve city banks this ratio declined from 107,4 to 106.5 per
cent. The ratio of combined reserves and cash to total deposits because of the
more than proportionate increase in reserve, went up froi 13.5 to 13.8 per cent
for all reporting banks, and from 14,9 to 15.2 per cent for the Central Reserve
city banks. Total excess reserves show a gain from 66,8 to 129*2 millions. For
the Central Reserve city banks a corresponding gain from 57.8 to 75.8 millions
is rioted.
Released for publication Sunday morning J-une 23, 1918
Not earlier
X-10l6a
STATEMENT OP COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 21, 1918,
R E S O U R C E S
June 21, 1918
June 1*. 1918
June 22, 1917
Gold coin and cert if icates in vault
*38,773,000
*32.-557,000
kQg.gLipjOOO
Gold settlement fund, F.R.Board
*81,023,000
489,610,000
I? m n r n n
Gold with foreign agencies
17. 008,000
4*. 08*, 000
5 ,5
>
Total gold held by 'banks
936,80*,000
966,251,000
813,252,000
Gold with Federal Reserve Agents
957,238,000
951.145,000
390,765,000
Gold redemption fund
30.331,000
29,507,000
____ 8 ,0 01,000
Total gold reserved
1 , 924,373 OGO
1,946,903,000
1,212,018,000
Legal tender notes, silver, etc.
”
5 6 ,738*000
58.. 360,000 _35,680,000
Total reserves
J-,9SI, 111,000
2,005,263,000
1,2*7,698,000
Bills discounted for members and F„R» banks
931,270,000
1,016,031,000
2*0,984,000
Bills bought in cnen irarket
2 )2 a472,000
2*2^923 ,,000
194,303 ,000
lVT,al-bills on hand
1,163,742,000
1,258,954,000
4j>5,287,000
U,S.;Gov ernment long-term securities
kb, SJJ ,000
*0,683,000
3 6,427,000
U. 0 ^Government short-term securities
3 i?>883 >000
3 3 ,^ 79,000
78,491,000
All other earning assets
100,000
___ 5ciJ>■
000
____ 2,585,000
Total earning assets
1,240,602,000
1,333,^10,000
552,790,000
Dus from other F.R. banks, net
(a) 4,705,000
(a) 19,350,000
2,561,000
Uncollected items
^88,859.000
529,6^3,000
195,826,000
Total deductions from gross deposits
584, 15 %,000
5^0,303,000
198,387,000
5ch Redemption fund against F.R.Bank notes
.
735,000
735,000
500,000
Ail other resources
_______ 9 0 ,000
’
_______________
_______ 267.000
TOTAL RESOURCES
3,806*6^2,000
3,849,711,000
1,999,642,000
L I A B I L I T I E S
Capital paid in
75,770,000
75,711,000
57,171,000
S u^lu s
1,134,000
1,134,000
Government deposits
159, *57> 000
155,532,000
495,807,000
Due to members - Reserve account
1,464,986.000
1,555,434,000
806,209,000
Collection items
287 , 769,000
264, 88?,000
1 3 7 , 581,000
Other- deposits including Foreign Gov 11 . credits
l^.'Si'-^.OGO
123. 221,000
1 ,0 0 0 .OGO
Total gross deposits
2 , 029 , 557,000
2,099,074,000
1,440,597,000
F..£„ notes in actual circulation
1,677,951,000
1,651,500,000
499,721,000
FcS. bank notes in circulation - net liability
9 , 9% ,000
10 , 001,000
776,000
All other liabilities
1P, 3 ^5,000
12, 201,000
____ 1,377.000
TOTAL LIABILITIES
3, 806, 6$2, 000
3 ,8 49 , 7 H ,000
1 , 999 ,642,000
Ratio of gold reserves to net deposit and
F.R. note liabilities combined
Sl.Gfo
60.1$
69 . 6$
Ratio of total reserves to net deposit and
F.R. note liabilities combined
63*4$
Sl.^%
(a) Net amount due to other F.R- banks.
1
Released for xrablication Sunday morning June 23, 1918
Not earlisr
WEEKLY STATEMENT OF EESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 21, 1918
X-10l6b
(In thousands of dollars.)
R E S O U R C E S
Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.
Total
Gold coitt and certificates in vault ,2,751
302,525
9,23} 31.291
6,431
6,75? 27,543
2,035
8,261 t 206
5,852 35,837
43S,773
1 40,617 32,074 26,948
4-31,023
17,510 24,194 68,465 22,409 16,138 40,716 10,858
Gold settlement fund, F .R . Board
^719
1.261
566
647
2,264
64?
435
Gold with foreign agencies
1 ,5 13
.5 ,5 7 9
1,132
1 ,45
___________________________
J329,
310.
448,721 42,439 59,694 24,511 31,432 98,277 25,091 25,046 42,183 17,276 51,495 936,804
70,639
Total gold held "by hanks
62,5^5
246,066 94,251 107,876 32,386 31,129 176,178 39,938 3 M 09 33,712 14,077 84-, 971
Gold with Federal Reserve Agents
2,303
12,500 3,000
855
363 2,311
2,595
1,671
2,543
.12Gold redemption fund
m i . .1 ,2 5.1
707,287 1397690 l6S,42f> 57,260 64,372 277,050 66,700 61, 693 76,812 32,607 136,485 1,924,373
1357337
Total gold reserves
,29 6____ 394
363
407
2,539
l4l___ 4,557
1,201_______ 253 M ___ 1,996____ _2£5____
Legal tender notes, silver, etc.
132, 026“ 751 , 1 3 3 1 ^ 0, 034163,788 57,667 65, 619231,607 67,901 61,793 77^200 34,603 136,640 1,931*111
Total reserves
45,844
383,303 55,015 54,420 50,435 26,045 112,916 46,357 34,376 56,612 28,752 37,145
931,270
Bills dis» for members & F.R.Bks.
20,336 123,458 19,944 12 ,384- 6 , 15s 4,474 21,631 3,775
250
1.170 13.102
232.1172
740
Bills bought in open c:arkat
"B 5 7 W
50677^1 74,959 66,304 56,643 30,519 134,597 50,132 35,116 56,862 29,922 55,247 1,163,742
Total tills on hand
616
1,860 8,877 3,981 3,461
40,377
1,549
1,747 7,499 1,233
730 7,090 2,234
U.S.Gov’ t, long-term securities
l,4i6
4,437 5,658 9,962 1,523
1,197
2,962
35,833
511
1,294 3,5SS 1,490 1,795
U-S.Gov’ t, short-term securities
100
3
8
57
32
All other earning assets
Total earning assets
68,212
84 ,265 59,399 32,503 144,631 52,330 33,273 69,327 35,393 60,503 1 , 240,602
512,797
Due from other F.R.Banks, net
-7,018
6,038 6,748
2,933 * U,705
Uncollected items
Total deduct.from gross deposits 32,055
175,420 49, 17s 60,519 45,294 36,464 73,491 37,643
9,627 35,203 23,500 33,202 5S4,1§^
-5^ Redemp.f'und against F.IUBk.notes
14
100
400
84
137
735
All other resources
-_9CL
-2£L
TOTAL RESOURCES
233,293 1 , 439,400 271,716 313,572 162,360 134,600 499,879 158,424 109, 69s 132,130 93,633 230,429 3 , 806,632
L I A B I L I T I E S
9,781
3,607 2,797 3,529
Capital paid in
6,474
19,7S6
2, 9S5 4,447
75,770
6,939 8,556 3,824 3,045
Surplus
116
40
216
—
38
649
1,134
75
Government deposits
9,oo4
15,659
11,627
23,503
9,369
5
,
7
H
15,532
159,457
3,774
553
6,375
55,073
3,277
Due to members, reserve account
636,720 89,963 116,446 41,741 ‘ 41,835 1S6062 &6,S£2 5S,1$6 63,431 $7,040 71,949 1 , 464,986
89,291
8, SOS 14,695
19,225 24,122 24,794 6,457
63,338 29,365 29,021 23,739
237,769
Collection items
26,727
16,97$
707 5,105
5 , 30s
1,266 4,366 7,675 1,253
Due to other F.R.Banks, net
1,762
--- ------- 12
3.740
417
Ul
--264
110.426
Other dep.incl.foreign Govt.credits
.£ J l45___ 1 1 7 ^ 5 Total gross deposits
121,057
866,057 123,102 146,284 86,447 73,965 242,293 89,077 51,628 95,140 57 , 32s 104,621 2, 029,557
F.R.notes in actual circulation
109,955 546,707 141,675 157,884 71,745 57,4-77 244,152 65,211 5^,693 7^,186 33,254 121,012 1,677,951
35 2,000
—
—
7,910
—
—
9,945
F.E-Bank notes in circ.,net liab.
-,
6.201
343
228
38.
1,437..... -529______ 542___ H 165______ 66______349
12,335
All other liabilities
7^2
238,293 1,439,400 271, 716313,572 162,360 134,600 499,879 158,424 109,698 132,130 93,633 230,429 3 , 806,692
TOTAL LIABILITIES
6 6 , 3 7 5
9
8 2 ,3 6 4 -
Difference between net amounts due from and net amounts due to other F. R. banks « Net amount due to other F.R. banks.
5
7
, 2
3
8
Released for publication Sunday morning June 23, 1918
Not earlier
STATEMENT OF FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS JUNE 21, 1918.
(In thousands of dollars.)
FEDERAL RESERVE NOTES
Received from Comptroller
Returned to Corrptroller
Chargeable to F.R.Agent
In hands of F.R.Agent
Issued to F.R.Bank less
amount returned to F.R.
Agent for redenption
COLLATERAL Tm,T> AS SECURITY FOR
OUTSTANDING NOTES:
Gold coin and certif. on hand
Gold redemption fund
Gold settlement fund, F.R.Board
Eligible paper, minimum required
Total
Boston New York Phila* 'Clavel. Richni. Atlanta Chicago St.Louis
159, 6^0 921,880 208,240 206,900 110,360 96,740 334,360 93,200
127,685
1 4 ,SOO
112,885
7,000
6,045
49,500
50,340
112,885
AMOUNT OF ELIGIBLE PAPER
DELIVERED TO F.R.AGENT
66,180
J r - J .X S J - J ....-
X-10l6c
Minn. Kans.Cy.Dallas
73,980 104,700
68,500
San Fran. Total
141,620 2 , 520,120
712,437
173,351 189,655
121,400 19,180 20.700
37,127
8.280
73,83 5 314,333
19,175 43.980
77,960
59,310
3,555
86,852
52,488 130,795 2,091,828
18,590
-286.^10
591,037 15^,671 168,955
73,347
59,660 270,353
69,020 56,255
79,142
33,398
166,740
14,326
8,021
14 , 51s
60,420 61,079
591,037 154,671 168,955
886
31,500
46,461
78,847
506,761
56,410
65,000 86,230
3,353
85,000
344,971
71,737
6 6 ,so4
2,504
2,405
8.940
13,102
417
2,018
37,920
29,082
26,220 175,761
28,531
7.710
94,175
1,507
19,500
22,146
59,660 270,353
69,020 56,255
28,700 128,243
42,170
30,490
130,795
1,305,513
215,445
11,581
2,352
31,360
45,430
79,142
1,912
584
19,821
33,393
6,340
73,631
45,824
54,537
637,206
843,280
130,795 1 , 805,518
52,126 29,922 48,254 1 , 127,797
M E 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
112,885
2*220_
109,955
591,037 154,671 168,955 73,847
44,330 12,996 11,071 7,102
546,707 141,675 157 , SS4 71,745
59,660
2,183
57,477
270,353 69,020 56,255 79,142 3 3 , 39s 130,795 1 , 305 , 51s
26,201 __3_,.3P2... .... L . 5.62.... .4,356..
644 . S*.783._.. 127, 567.
244,152 65,211 54,693 74,186 33,254 121,012 1,677,951
DISTRIBUTION OF BILLS, U«S,GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS BY MATURITIES.
Within
Bills discounted and bought
U.S.Government short-term securities
Municipal warrants
I
15
days
635,228
15 , 5^7
42
16 to 30 days
136,497
1,693
6
31
60
days
239,678
238
5
6l
to
90
days
110,420
Over 90 days
41,919
14,365
Total
1,163,7^2
35,383
53
Re lea se d^f or publication Sunday morning -June 23, 191S.
STA T £ £ E 2 O T
showing
p r i n c i p a l
r esource
a n d
Not earlier
liability
items
S ^ L EOijiD C I T I E S A S A T
o p
m e m b e r
blanks
l o c a t e d
CLOSE OF BUSINESS
JUNE
L - ^ ^ f o r j i l l j r g n o r t i n g banks in_.each d is t r ic t ______(in thousands of
H
o
/ r
^
o
r
t
’S
T
t
a
n
k
a *& - K ^ g '
""S T
s
U.S.Bonds to secure
O
t
h
i
M
W
r
S
t
^
T
y
^
n
d
s
i n c l u d i n g
t s a t o
1
c e r ; 11 i c a t e s
u~bv
U
, 3
2
5
2 6 9 , 4 4 3
5
' ®
2 4 , 3 3 7
>
5 S 5
5 9 , 6 4 1
2
3
2
7 , 7 2 s
^
29,910
o&2,4l5
59,356 1,003,755
s ; ^ r a f b “ u?s.
A Hr S h s r l ^ n s and in-
5l*’ 2ltS
v e i,r,fii£.nt.s
B=Ser.;o witnF.it. ten*
Ca&h m vaiilc
T 0 ,« >
2o,6S3
4-3,017
' 9 6 3
Atlf g ta
*
C h l o S
c e ntbal
r e s e r v e
f
°
“
l 7
3
7 a
2 1 , 3 1 2
t
o
.
K
a n
7
^
1
,
r e s e r v e
a n d
2 U
, 3 0 3
5 ,
f 2 g 5
s . C
y
fellaa
.
72
6 1 9
1
1 0 , 6 1 5
4
, 0
2
S a n
----r-p-411 ",i0^
2
1
1 7 , 6 0 9
7
, 5
7
1
5
Other^utsr^nds
16,192
32,426
21,344
10 005
80,329131,950
6 5 ,* *
51,289
i s * ,# *
63,0*16
261:259
281'° 57 38'V°2 5° ' ^ 9 17,380
6,816
H ~*.9l25— ZfLi£i— 2 L J 2 2 __ 17,674
i2 ,2 g 4
Ch^ago
St^Loais
9
3
1 5 , 5 9 4
37-553
37-553
37, 023
240,611
248,984
21+0,611
670,859
o f dS
Leans secured by U.S.
722,006
1
,008,013
949,023 1 , 003,013
9^9,023
A
253,685
1,Jnfe?TSq(mS!:E ...
253,685
^ S rl L s and
3
, 6
5
S
5
“
6S9
5
2 6 6 , 7 1 . 0
2 2 , 5 1 3
17 4^5
^
16 2^2
5 8 6 , 7 0 5
&0&
186
oIik ifip
l^ufl
1,79s,’ 607
32,977
gg.ggi
20,120 15*594 11 !3 44
19 ’ 645
iotal
Cen^Ees.Cities
Reserve
Cities
67
*
10,392
37,023
1,469
-
J -
Total
7
150
^
Us, 9 7 1 _ 169,802
49,414
’ 262*224
---- ~---
Country Banks
--June
67
in-
*
J
14,122
June 14—June 7
67
67
S S .
r a n .
47
1
28,726
t
^
F
41
Kat-a tor cants m eacn Centra^ Reserve City, banks to all other reserve cities and other report ing. banks.!
5
X-10l6d
o t h e r
29,1,23 1“ ' " S ‘*’ 66s ‘‘•U51 6' 5S5 9,450
51Z,U07
637,622 9 59 ,S63 350,744 242,074 1,285149 368,240 230,000 461,983 167,963 495,389 10, 189,202
649,757 59,90? 95,353 28,181 24,980
136,501 37,681 17,210 36,971 16 452 52 632 1 226 34s
120,641 20,179 33,635 15,783 12,484
57,481 13.572
{ 596 15 9 ^
10 532 i , ’, S
TOqo?
5? u " ° 3 1M-S5 / I P c dTj i
,34 c 4 18?
’ 017 7 b , 1" 7 28' !*79
2fe,:' 32 7 2159,366
363' 811 fil» t8eQ.a
« 6p373!591
9i,k2i ! , ’ 950
262,^41
SSx
2,y26
307,117
.3^0
^ 7 695
4
4
i m
t
to t
6S
'u S
93.h-^4-
' ~
2.
T
of
iiidaj.teoaess
i S
4
, 9
.)
in
l4, 1918 .
June 14--June
629
47,524266,740
1 7 1 , 147.794
77
7
688
267,942
50,877
526,705
595,470
52,395 17,258 310?26u 308>lk5 225’ 995 235,848
50,446
722,006 17,503 12,766 707, 12s 775,0S6 210,112 209,393
27 922
27,480
945,162
71,367 46,416 1 , 066,806 1 , 132,802 605,909 S l H i s i ^ U 126,151 1,792,607 1,011,959
1,875,371
2U8,9SU
251,295
251,895
1 8,033 1 2,262
283,980
285,151
2°3,515
30,788
206,589 30,914
518,407
522,528
3,249,994 3,703,725
618,192 583,759
s
?
S
l
t
H
d I
^
“
4
?
109,258
4, 170,796 4, 094,914
217,664 213,192
107,210
—
3
“
?
I
> O S i t S
*
’ ^
1
U
346,046
f
, 2 l 3
f
’ l o g
305,332
S
7 0 9 ,*
^
S
1 3 2
%
1
S
9
1
^
*
S
'
S
:
S
4 ,9 5 s ! 726
3
II:Ifu
*
«
«
N
K
8
3 , 530’ 4i4
376 M t e
•
*
»
3 , 4 9 3 798 64-5,*465
^
^
W
6
W
g
2
”
: 3
:
S
t
S
S
9,080 ^56
^
" I ; !
^
@FedFRASER