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Released for publication Sunday morning June 30, 193.8. Not earlier. June 29, 1918. X-1030. STATEMENT FOR THE PRESS. Gains of about 24*6 millions in gold reserves accompanied by increases of 84,4 millions in net deposits and of 44,3 millions in Federal Reserve note circulation are indicated by the Federal Reserve Board's weekly bark statement issued as at close of business June 28, 1918, INVESTMENTS: Net liquidation of discounted bills, amounting to 124 millions, is reported by tne New York bank. For the System as a whole a decrease of but 62*1 millions in discounts is shown, Chicago, St, Louis and Minneapolis reporting consi derable increases in their holdings of this class of paper« Of the total discounts on hand about 50 per cent as against 58.4 per cent the week before is represented by war paper> i . e . , members1 collateral notes and customers1 paper secured by U.S* war obligations. Acceptances on hand fell off 15*6 millions, New York, Richmond, Chi cago and San Francisco reporting the largest decreases* U*S» short term obligations show an increase of 183 millions, the New York bank holding 195 millions of Treasury certificates pending the collection of checks and other items received in payment of war taxes, No material changes are shown in other earning assets, DEPOSITS: Government deposits declined about 74«9 millions, New York and Chicago reporting the largest withdrawals of Government funds. Members1 reserve deposits increased 92 #6 millions, while net deposits r?hcw an increase of 84*4 millions. RESERVES; Total reserves show a gain of £5*1 millions, the week witnessing considerable c^oncentration of funds at the New York bank* The ratio of cash reserves to combined net deposit and Federal Reserve note liabilities shows a decline from 63 A to 61,7 per cent, FEDERAL RESERVE CIRCULATIONt Additional net issues of Federal Reserve notes during the week aggregated 43 <,3 millions* Federal Reserve notes in actual circula tion increased 44,3 millions# Four banks report an aggregate liability on Federal Reserve bank notes in circulation of 10*4 millions as against 9«9 millions the week before. CAPITAL: An increase of $ 88 >000 in paid-in capital is due largely to payment for Federal Reserve bank stock by newly admitted members, the New York bank alone reporting an increase under this head of $60,000# y CONDITION OF MEMBER BANKS, JUNE 21, 1918, Further reduction in-the holdings of certificates of indebtedness, accompanied by considerable withdrawals of demand deposits, is indicated in the Board's weekly statement,showing condition on June 21 of 695 member banks in about 100 leading cities, U.S. bonds with the circulation privilege show an increase for the week of about 2 millions, while other U.S. bonds, including Liberty bonds, went up about 6 millions. Redemption on June 18 of 4-1/2% Treasury certifi cates accounts apparently for most of the reduction of 224.4 millions in certificates held. Over 75 per cent of the total decrease is reported by the Central Reserve city banks and about 20 per cent by the banks in the other Reserve cities. Loans secured by war bonds and Treasury certificates show a decline of about 6.6 millions notwith standing a slight increase in such loans shown for the central reserve city banks• Other loans and investments of all reporting banks increased 139.4 millions largely at banks outside the central reserve cities. As a result of the large decrease in the holdings of certificates the ratio of U.S. war securities to total loans and in vestments of reporting banks shows the very substantial decline from 16,4 to 13,9per cent, For the banks in the three central reserve cities this ratio declined from 20.6 to i8*4 per cent. Aggregate net demand deposits fell off nearly 300 millions, apparently in con nection with the heavy tax payments due about the middle of the month. Time depos i t s of banks outside the Central reserve cities increased about 46,4 millions. Government deposits went up 18.3 millions, though the banks in the central reserve ' cities show a decrease under this head of 12.4 millions, Alongside with the reduc tion in depdsits there is shown a decrease of 78.9 millions in reserves, largely ft>r - the bank's inrthe central reserve cities. Cash in vault shows a gain of 21,5 mill ions . For all reporting banks the ratio of investments to total net deposits shows an increase from 119 to 1-21.3 per cent. For.the central reserve city banks this ratio owing-to the relatively larger decrease shews a smaller increase from 112.4 to 113,5 per cent. The ratio of combined reserve and cash to total net depos its shows a decline from 15 to 14,9 per cent for all reporting banks, and from 16 to 15.6 per cent for the central reserve eity banks. Excess reserves declined from 129»2 to 82.9 millions for all reporting banks, and from 75.8 to 46.7 millions for the bagks in,the central reserve cities< Released for publication Sunday morning June 30, 1913 Not earlier STATEMENT OF COMBINED E2SOURCES AND LIABILITIES OF THE TWELVE FEDERAL EESERVE BANKS AT CLOSE OF BUSINESS JUNE 23, June 21, 1913 June 28, 191 s R E S O U E C E S 438.773.000 419, 907,000 Gold coin and certificates in vault 431.023.000 Gold settlement fund, F.R.Board **91,1*25,000 17.003.000 Gold with foreign agencies 16.275.000 936 . 304.000 927,607,000 Total gold held by banks 957.238.000 937, 370,000 Gold with Federal Reserve Agents 33.544.000 3 0 . 331.000 Gold redemption fund 1.924.373.000 1 . 949. 021.000 Total gold reserves 56,738,000 57,178,000 Legal tender notes, silver, etc. 1 . 9 31 . 111.000 2 . 006 . 199.000 Total reserves 931 . 270.000 869, 175.000 Bills discounted for members and F.R. banks 232.472.000 2l6.g4g.000 Bills bought in open irarket 1 . 163 . 742.000 1.036.023.000 Total bills on hand 40 . 877.000 40,227,000 U .S. government long-term securities 35.333.000 218,339,000 U.S.Government short-term securities Loans on gold coin and bullion 100.000 _________23,000 All other earning assets . 1.240.602.000 1.345.112.000 Total earning assets (a) 4,705,000 10 , 632,000 Due from other F.R. Banks, net (a) 533.359,000 Uncollected items 530,719,000 534 , 154,000 520,037,000 Total deductions from gross deposits 735,000 735,000 5% Redenption fund against F.R.Bank notes _______ 90,000 All other resources 3 , 306 , 692,000 3,272,133,000 TOTAL RESOURCES L I A B I L I T I E S 75,770,000 7 5 , 353,000 Capital paid in 1 , 134,000 1,134,000 Surplus 159.457.000 Government deposits 34 , 53 5 ,ooo 1,557,527,000 Due to members - Reserve account 2 3 7 . 769.000 236,302,000 Collection items 121.4g2.000 117.345.000 Other deposits, including foreign government credits 2 . 029 . 557.000 2 . 049 . 906.000 Total gross deposits 1 . 6 7 7 . 951.000 1 . 722 . 216.000 F.R. notes in actual circulation 9 , 945,000 10 . 390.000 F.R* bank notes in circulation - net liability 12 .629.000 . , 0 0 0 All other liabilities 3 . 306 . 692.000 3 . 372 . 133.000 TOTAL LIABILITIES Ratio of gold reserve to net deposit and 61. 6$ F.R. note liabilities combined 59-9# Ratio of total reserves to net deposit and 63.4$ '61. 7 * note liabilities combined (a) Net amcrunt due to other F*R- banks • El 1 , 4 6 4 , 9 3 6 , 0 0 0 ■ . .. . 1 2 , 3 1 5 1913. x-1030-a June 29, 1917 434.126.000 345 . 345.000 52.500.000 882. 471.000 402.639.000 9.402.000 1 . 294. 512.000 39.340.000 1 .334 . 352.000 197.242.000 202. 270.000 399 . 512.000 36 , 426, GOG 34.302.000 21.350.000 2.583.000 494.673.000 1.443.000 221.705.000 223. 153.000 500,000 662.000 2.053.340.000 57 . 176.000 300,966,000 1.033.460.000 149.527.000 1.000.000 1 ,4 ^ ,9 5 3 ,0 0 0 503.753.000 934,000 1.524.000 2 . 053 . 340.000 73 . 1# 75*4$ Released for publication Sunday morning J-une 30, 1918 Not earlier X-lQ30-b TvEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 2S, 191S. (In thousands of dollars.) R E S Q U R C ES Boston New York phila. Clevel. Richm. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total Gold coin and certificates in vault 3,089 300,170 158 22,782 6,490 6,765 27,489 1,742 8,463 7° 6,007 36,682 419,907 Gold settlement fund, F.R.Board 6l,062 222,645 46,892 46,549 16,382 19,207 7,969 22,452 8,125 27,486 8,730 3,926 491,425 Gold with foreign agencies 1.1V2 1-455 570 485 2.263 647 647 910--- 566--- 3S9-- 3J L 2X5 i*li2____ _ 5„_579 Total gold held by banks 26,457 37.721 24,841 17,235 28,466 15,303 41,497 927,607 65,233 528,394 48,182 70,786 23,442 Gold with Federal Reserve Agents 33,202 182,279 39,004 26,012 33,679 14,045 89,250 987.870 62,348 265,795 93,053 116,916 32,287 Gold rederrgption fund 2.597 2 . 932. _li£5k___ Ixito_____ 962--U 252--- 2i£-- 32^544 _2j±5 3---15J2QD___ 3^500 .1,-091 236 Total gold reserves 130,084 809,189 144,735 188,793 55.965 62,256 222,932 65,499 44,891 6 3 .n U 30,600 130,963 1,949,021 Legal tender notes, silver, etc. ^3 1,996 409____ 57*118 746 4.433 I.O il_______86_ — 2*228-- k ^ 93k _ ___ 552___ _ 352 .......49.8. Total reserves 132,912 853,123 145,287 189,145 56,463 63,002 227,365 66,510 44,977 63,447 32,596 131,372 2 , 006,199 869,175 Bills dis.for members & F.K.Bks. 259,265 60,217 56,17s 53.904- 28,245 126,000 64, 24-1 44,550 56,396 27,166 4l,s 4o 51,173 P50 1.650 16.006 2l 6,.g4g Bills bought in open market Total bills on hand 72,811 375,078 73,321 70,15s 56,850 32,376 i4 4,4i4 67,362 ^ 5 , 34-5 56,646 2S ,S i 6 57 . 84-6 1 , 036,023 U.S,Gov’ t, long-term securities 1,747 616 7 , 4cU l .?33 "•..*730 7,0 95 2,233 1.339 ?.977 3,981 3.461 40,227 1,517 U-S-Govt. short-term securities 1,171 2,962 511 3,959 1.742 1,465 1,533 21 S.S 39 l , 4l6 1,643 2,929 1,513 197,995 All other earning assets n— — _______________4 — -________ .8--- = ---:-- 23 Total earning assets 74,84-3 574-,590 s i,711 80,491 59,596 34,288 154,U66 70,106 50,646 67,265 34,270 62,840 1 , 345,112 -2, 860(a) 10,632 Due from other F. R. Banks, net 14,334 6,166 4,Ul5 — — 1,136 — 340 2,513 Uncollected items 53.Q.JA9 27.634 103,687 44,808 47.121 ^6.^55 ^2.081 107-169 3U.0H S. 000 M tSSL _2L8Z3_ 24,985 520,087 Total deduct.from gross deposits 27.634 118,021 50,974 51,53 6 36,355 3 2,081 108,305 34,013 8,340 4.3,506 23.873 27.845 845$ Redenp.fund against F.R.Bk.notes 14 100 400 735 137 All other resources TOTAL RESOURCES 235,389 1,545,734. 277,972 321,172 152,414 129,3?5 490,236 170,629 103,963 174,618 90,876 222,141 3 , 872,133 L I A B I L I T I E S Capital paid-irr 4, 4Us 75. 35 s 6 ,,939 s, 561 3,,824 3. 045 9, 789 3, 607 2 , 802 3, 533 2 , 991 6,,474 19.,s46 Surplus 4o 1 , 134 116 216 38 649 75 34, 201 Government deposits 416 ,006 10 , 27 s 249 ,0S9 4, 6 , 21 , 736 1 .,392 2, 9, 393 535 6,,349 7, 094 6 . 5, 3, 832 Due to members, reserve account 82, 724 767, 013 36 ,805 110 ,,886 41,,868 35. 772 177 , 921 4s,,130 36, 998 65 ,723 36, 214 67 , 483 l .557. 587 Collection items 236, 302 20,,4 u 5. 857 17.,870 53, 191 35,,269 27, 206 22,,049 25,,239 35, 778 23,,630 T. 87 s 11 , 924 Dae to other F.R-Banks, net 617 4, 23,,530 3,,254 1 , 947 9, 04s Other dep-incl.foreign Govt.credits 1.1U, 0P5 P50 1 12 U, 351 2 ,-578 121 , 4S2 41 ?25 Total gross deposits 116, 015 955. 965 123,,466 l4s,,620 73,,520 70, 064 ;224,,299 100 ,,654 45. 312 87,,599 54, 910 91.,S73 2-.049,,906 F.R. notes in actual circulation 112 , 533 562, 84s 147,,430 162, 918 74,,525 56,-139 252,,639 65,,662 55. 213 74,,396 32,,626 125,,287 11, 722 ,,216 10,,390 340 F.R.Bank notes in circ-,net liab. 2 ,,000 8 .,000 50 1SS All other liabilities 7 O6 12 ,629 6,,426 429 598 349 ,091 2921 ,,293 137 47 1 ,,073 TOTAL LIABILITIES 235.389 1,545,734 277,972 321,172 152,414- 129,335 490,236 170,629 103,963 174,618 90,876 222,141 3 , 872,133 ($) Difference http://fraser.stlouisfed.org/ X' Federal Reserve Bank of St. Louis ----- — — ----- — , — — '■ • - ----- ----- — .— _ _ _ — ■ 1 ----- — ----- — 1 . between net amounts due from and net amounts due to other F.R.Banks = Net amount due to other F . R. Banks. - — —> Released for publication Sunday morning June 30, 1918. X-1030-C Not earlier. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JUNE 28, 1918. (In thousands of dollars.) FEDERAL RESERVE NOTES Received from Comptroller Returned to Comptroller Chargeable to F.R.Agent In hands of F.R.Agent Issued to F.R. bank less amount returned to F.R. Agent for redemption COLLATERAL 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. 160,640 _J>4» ocLL 127,973 11,300 116,673 7,000 5,s 4s ^,500 <±3i-LrT 722,286 Minn. Kans-Cy. Dallas San Fran 000 612,286 159,613 169,896 166,740 14,055 80,392 23 , 01s 8,898 7 S7 85,000 31,500 16.147 11.046 52,353 134,454 18,490 2,504 2,628 530 28, 07c 181,749 7 ,H 9 82,131 45.204 50, 5 6 3 1 , 031,612 13,102 30,446 375 , 07s 72,474 70 , 15s 56,185 25, 535134,511 54,570 39.342 51,569 43.105 247,195 33,863 134,454 1,848,823 3^122 85,107 66, 560 -52*330 439.802 2 ,,096,018 79,575 24,831. .34,175 85,000 7,946 Total 5 S, 033 276,454 71,126 56,458 11,581 1,880 2,319 31,360 584 45,89,6. 19. SIS r-,-7 72,311 Atlanta Chicago St.Louis yo( 17,704 _2L_S23__ 18,b82 20,806 ._16,1Z4. j y L 2 6 j _ 18.105 172,653 191,896 88,097 60,058 320,914 77,026 61,713 26,595 22, 5,900 2,025 44,460 7.020 7.705 5,255 110, 000 13,040 _54J25._. 346.491 nf AMOUNT OF ELIGIBLE PAPER DELIVERED TO F.R. AGENT Clevel. Richm. 1.9S4 37,020 1,410 11,500 £8, 316 223,945 55,404 70 S ,521 360*351. 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 116,673 4.140 112,533 612,286 159,613 169,896 49.438 12,183 562,848 1 4 7 ^ 3 0 6.978 162^918“ 80,392 58,033 276,454 5,i L.s6j -M g-3.4.. 23^ 81J 71,126 56, 45s 5,46 4 ____1,245 74 ’ 525 56,139 252,639 65,662 55,213 79,575 5,179 7^,396 33,863 134,454 1,848,823 1,237 9,167 126,607 32 , 626^ 25,287 1 , 722,216 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 15 days 548,813 200 241 6 30 days 136, 5 & 1.313 16 to 5 31 60 days 256,050 to 90 days 101,227 '965: 6l to Over 90 days 43,299 * 6,329 Total 1,086,023 218,359 . _u Released for publication Sunday morning June 30, 191S. Not earlier. X~1030d STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS JUNE 21, 1918. 1. Data for all reporting banks in each district. (In thousands of dollars.) Member banks Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Mirm. Xans.Cy. Dallas San Zr*a. Total 4S 40 No. reporting banks 42 98 49 S3 30 72 32 71 95 35 695 U.S.bonds to secure circulation 14, 621 12,970 43 ,528 24,268 19,256 17,867 5,869 14,023 17,P39 34,480 26& 7 O5 13,055 51,729 Other U.S. bonds including Liberty bonds 14,644 3 ,6 724,417 5 60,1019,795 17,800 15,220 23,600 9§3,703 21,171272,858 82,408 27,013 U.S* certificates of indebtedness 21,294 28,l6l 25,112 16,079 26,412 720,204 11,566524,162 9,141 12,717 12,107 24,774 9,279 Total U.S. Securities 50.559 848,749 64,806 128,741 60,560 45,792 128,076 58,363 24,805 44,540 44,366 82*854 1 , 582, 21-i Loans secured by U .S. bonds, etc.___________________________________________________________________54,375 38,793 44,390 17,446 4,581 7,565 38,631 5*913 4,745 14,733 5,989274,128 5 H .7 8 9 All other loans and in vestments______________________789 ,694 4 , 203,253 639,317 959,756 351,200 244,425 1,380,273 381,885 232,671 461,037 164,329 529*777 10, 328,617 Reserve with F.R. bank_________63,537 603 ,§07 57,659 84,297 26,112 22,713 137,446 30,318 16,331 41,887 16,320 46,794 1,11+7,421 cash in vault____________________ 26,291 122,982 20,174 34,519 15.367 12,071 58,011 13,706 7,052 34,787 10,591 19,84?. 375,428 Net demand deposits____________ 647,820 4,324,393 557,695 706,130 258,287 168,353 1,010,485 257,482 155 , 7 % 353,731 141,127 365,252 8, 947,098 Time deposits____________________ 93,963 262,617 13,820 228,439 44,196 72,452 345,911 74,465 38,100 60,799 23,625 1 1 $ ,lia? 1 , 369,809 Q^ernment.dgposits.______ _____1 1 9 J & 5 — 323,310- 77-»92Q JBZ.5&T ...2ZJSHL-J1+&&____ <33.466 3 7 ^ 2 3 . 962 26 . 599 6 , 658 . _13,4 95____ 886,62-5___ 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.Cities Reserve Cities Country Banks Total June 21— June 14 June 21 June 21 June 21— June 14 June 21— June l4 June 21— June 14 June 21—June 14 40 No. report ir^j banks 14 120 67 121 423 418 152 150 695 689 66 U.S.bonds to secure circulat ion 1,469 10,392 37,553 49,324 49,414 171,520 169,802 kl,86l **7,524 268,705 266,740 37,463 Other U.S. bonds in cluding Liberty bonds 245,259 240,611 51,503 16,883 313,645 310,264 229,757 225,995 49,300 50,446 592,702 526,705 U.S. certificates of 9,938 13,911 539,200 indebtedness 515,351 670,859 707,128 161,572 21C ,112 20,032 27,922 720,804 945,162 798,073 Total U.S. securities 62,910 4l,is6 949,023 902,169 1 , 066,806 562,849 605,909 117,193 125,892 1 , 532,211 1 , 798,607 Loans secured by U .S. 246,780 bonds, etc. 253,685 25,082 12,150 284,012 283,980 196,852 203,513 30,925 30,914 511,789 518,407 All other loans and investments 3 , 862, 6593 , 349,994 839,733 276,211 4,978,653 4,955,188 4,555,893 4,429,095 794 ,071 801,919 10 , 328,617 10 , 189,202 618,192 97,380 23,157 696,049 Reserve with F.R. bank 575,512 747,060 399,682 425,241 51,690 54,047 1,147,421 1 , 226,348 Cash in vault 107,238 107,810 34,613 7,301 150,845 188,420 167, 66s 37,856 35,390 375,428 353,903 149,152 Net demand deposits 4 , 025,307 4, 17.0,796 691,773 184,724 4,902,304 5 , 071 , 0 7 1 3 , 434, 6 2 3 3 , 530, 414610 , 171645,465 8,947,098 9, 246,950 Time deposits 217,634 130,208 53,415 401,572 799,580 749 ,0 1 4 168,747 172,837 1,369,809 1,323,423 401,482 217,859 Government deposits 346,046 53,048 31,637 449,758 389,810 366,142 59,490 52,384 886,625 868,284 347,590 437 3 2 5
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