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Released for publication Sunday

% r c h 17.

Net earlier,

X-SU

S T A T E D # # & # # PRESS,
March 16, # # 8 .
Gains aggregating over S MlSS$&s in gold reserves and of nearly
10 millions in total earning assets are indicated in the Federal Reserve
Board's weekly bank statement issued as at close of business on March 15* 1918*
The week saw considerable shifting of credits in the Gold Settlement/fr&K New
York to other cities, the former 1 s cash reserve shewing a decrease of 58.6
millions, Bill holdings of the bank* largely discounted paper, increased 21*7
pillions, while tf, g. short term securites, chiefly certiflertes nf indebted*
ness acquired for the temporary accommodation of member banks - shrw a gain
of 15.7 millions• Chicago reports a gain of 30*8 millions in cash reserve
largely through tr&nsferson the books of the Gold Settlement Fund,
Discounts on hand decreased 2.9 millions, all the banks outside of
New York and Kansas City reporting smaller figures than the week before, Of
the total held, 257,6 millions as against 264,5 millions was paper secured
by Government War obligations• Acceptances on hand show the record total of
323 *2 millions, an increase of 5.3 millions for the week, U. S. bond holdings were 3.8 millions less and U. S* short term securities - 11.2 millions
more than the week before. Total earning assets show an increase of 9.8
millions and constitute 75.6 per cent of net deposits as against 74 *5 per
cent the week before
Payment for Federal Reserve bank stock by newly admitted members,
mainly in the Boston district accounts for an increase of $262,000 in paid-in
capital. Government deposits went up 15.8 millions and member banks 1 reserve
deposits declined 17*5 millions• Federal Reserve Agents report a total of
1520,3 millions of notes outstanding an increase of 15,1 millions for the week *
Against this total they hold 869.6 millions of gold and 821,1 millions of
paper. The banks show an increase in actual note circulation of 22,2 millions,
all the banks4 except Atlanta and Dallas, reporting increases in their circulation for the week under review.
CONDITION OF MEMBER BANKS ON MARCH 8.
Net liquidation by 59,5 millions in the total of certificates of in debtedness held and reduction by 131.9 millions in other loons and investments
held by New York City banks partly through rediscounts with the Federal Reserve bank are indicated by the weekly statement showing condition of 682
member banks as at close of business on March 8• For all reporting banks
decreases of about 55 millions in the holdings of certificates of indebtedness
and of 65,8 millions in aggregate loans and investments are shown, Total
loans secured by U, S, War obligations show a decrease of 16,9 millions and
all other loans and investments - an increase of 4*2 millions *
Net demand deposits gained 30.0 millions, while time deposits and
Government deposits show an increase of 20.6 millions each. Aggregate reserves
with Federal Reserve banks increased 75,7 millions, while excess reserves
went up by 73,5 millions from 25.1 to 98,6 millions.
In the central reserve cities corresponding changes were as follows:
certificates of indebtedness decreased 61.0 millions and U* S. securities 63,3 millions• Loans secured by U. S. bonds and certificates declined 20.6
millions; all other loans and investments - 104.8 millions• All classes of
deposits held by these banks show decreases; net demand decreasing 39,7 millions, time deposits - 11*0 millions and Government deposits - 8*8 millions•
Reserve with Federal Reserve
• banks increased 43,8 millions, while excess reserves gained 49+3 millions, increasing from 6.6 to
55 .9 millions.
The ratio of loans and investments to total deposits declined in
central reserve cities from 102,5 to 102,1 per cent and for all reporting
banks from 107,9 to 106>8 per cent« Inversely» the ratio of reserve and cash
to total deposits of central reserve city banks increased from 13+4 to 14,6
per cent, and of all reporting banks from 13,0 to 13.7 per cent.




Released for publication Sunday morning &a.rch 17, 1918.
Not earlier .
X-8lxa
STATEMENT OF COMBINED RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL SESBBVE BANKS AT CLOSE OF B 0 S M B S S MARCH 15, 1918.
R E S O U R C E S
March 15,1916
March 8, 1918
March 16, 191?
Gold coin and certificates in vault
355,31#, 000
464,144,0.
477,521,030
Gold Settlement Fund - F. R, Boara
201,661,000
354,585,000
373,508,000
Gold with foreign agencies
52.500.000
52.500.000
TOTAL gold held by banks
556,979,000
871,229,000
903,539,000
Sold with Federal Reserve Agents
...
869,628,000
338,608,^00
896,702,000
Gold redemption fund
2.339.^00
20.267.000
TOTAL gold reserves
1,793,243,000
897,926,00J
1,788,19b,Ovv
Legal tender notes, silver, etc
58.950.000
16.176.000
59.685.wOv
TOTAL reserves .
914,102,000
1,847,883, w O
1.;852,193,000
Bills discounted for Members and F.R. Banks
517.484,000
17,234,0JO
520,340,000
Bills bought in open n&rket
323*248 000
97.o02.000
317.952.000
TOTAL bills on hand
838,292,000
114,236. 0 ^
WO,732,000
U, S, Government long-tern, securities
29,155,000
72,154.000
68,383,000
U, S. Government short-tern- securities
19,368,000
182,622,000
193,980,000
All other earning assets
4.064.000
16.180.000
4.040.000
TOTAL earning assets
1,097,332,000
178,939,0^0
1,107,135,000
Due frotti other F, R. Banks — net
609 000
3,379,000
6,113,000
Weollected iteas
357*14?! 000
337.283.000
155,976,,0,
TOTAL deductions I ron: gross deposits
1.59,355, w O
343,396,000
368,7 56,000
5% Redemption fund against F.R. bank notes
40v,vuO
537,0C0
537,000
All other resources
6,047.
761.000
1-452.000
TOTAt RESOURCES
3,289,909,000 1,25b,843,000
3,330,073,0^
L I A B I L I T I E S :
Capital paid in
73,886,000
73,624,.v0w
56,054,v^O
Surplus
^of
1,134,000
1,134,000
Government deposits
;\72,Old3>UvO
56,206,000
18,594,000
Due to Members - Reserve account
l,4y?,997,(
.,465,504,000
726,104,000
232,
Collection items „
216,986,000
121,550,000
M
Other deposits,including foreign Govt, credits...
77.137.000
TOTAL gross deposits
1,833,275,000
1,815,835,000
866,248,000
F.R.Notes in actual circulation
1,406,228,000
1,383,990,000
336,061,000
8,000,000
F.R.Bank notes in v - -. circulation,net liability
8,000,000
7,550.000
All other liabilities
7.326.000
480.000.000
3,330,073,000
TOTAL LIABILITIES
3,289,909,000 1,258,843,000
Ratio of gold reserves to net deposit ana
62,5^
F. R. note liabilities coc.bined
62,6#
86.1$
Ratio of total reserves to net deposit and
64.5#
F. R. note liabilities conjoined
64,7#
87. 6$



Bel,3aBed. for publication Sunday morning, March 1J, 191s.
Not earlier.
-.-7 X-Sll
T/EEKLY STATEMENT OF RESOURCES AIID LIABILITIES OF FACE OF THE FEDERAL RESERVE BA1KS AT CLOSE OF BUSINESS MARCH 1 % 1918.
(In thousands of dollars)
I S S 0 I I C E S
Boston
I . Y.
T
Phila. Clevel. Richra. Atlanta Chicago St.Louis Minn, Xans.Cy- Dallas San Fran.
Total
Gold coil* «»4 certificates in v^ult 10,856 324,577
11,282 31,298
6,430
6,807
28,907
3,578 15,819
204
8,982 28,721
477,521
Gold settlement fund F. R. Board
53,386
16,219
47,792 47,839 27,974 13,637
69,930 34,466 10,801 36,113 11,390 I4,j6l 372,503
Gold with foreign agencies
3,675
18,112
3,675
4,725
1.837
1,575
7,350
2,100
2,100
2,625
1,838
2,888
52,500
Total gold held by banks
5^,517 360,908
62,749 83,862 36,241 22,019 - 106,18? 40,144 28,720 38,942 22*210 46,0)0 902,529
Gold with Federal Reserve Agents
48,546 209,028
76,580 90,306 25,577 44,423 165,472 41,4-45 45,761 55,498 21,496 45,496
869,628
Gold redemption fund
1,994
10,000
2,000
388
376
812
1,166
l,)y6
892
882
1,108
72
21,086
Total & old reserves
105,057 579,936 141,329 174,556 62,194 67,254 272,825 82,985 75,373 95,322 44,814 91,598 1,793,243
Legal tender note*, silver,etc.
4,948
40,170
766
1.126
311
1,821
5,209
1,577
641
76
2,222
283
58,950
Total, reserves
110,005 620,106 142,095 175,682 62,505 69,075 278,034 84,362 76,014 95,398 47,036 91,581 1,852,193
24,290 50,669 28,654
9,711
33,847 .22,727
5,598 22,578 11,539 31,664
517,484
Bills, dis.for members & F.R.Banks 54,761 241,l46
i n o p e n r,iarket
9,477 182,11b
19,172 22,644 6,939 7,188 20,649 7-258 3,611 6,165 8,110 29,919 323,248
Total bills on X^nd
54,238 423,262 43,h62 53,313 35,593 16,899 54,496 29,925 9,209 28,743 19,949 61,583 840,732
L. S. Gov't, long-term securities
780
4,729
5,523
7,788
1,233
4,040
24,270
2,233
2,388
8,862
4,020
2,457
68,383
U . S . Gov't, short-term securities
2,199 137,46l
6,011 15,105 1,994 3,766 13,287 1,444 3,655 4,191 2,944 1,923 193,980
All other earning assets
^
...
...
305
629
388
748
...
1,781
189
4,040
Total ea-ming assets
67,217 565,452
55,056 76,206 38,820 25,010
32,6s2 34,050 16,000 41,736 28,694 66,152 1,107,135
Due troa Otner F. R. Banks - net
8,786
...
4,8^4
...
...
2,310
1 4,806
3,354
804
5,154
...
352 * 11,609
53,729 18,843 11,045 25,088 18,209 12,492
357,147
Uncollecte^items
22,064
84,690
3 8,426 26,368 26,156 20,037
Total deduct.from gross deposits 3 0 , 8 5 0 8 4 , 6 9 0 4 3 , 2 6 0 2 6 , 3 6 s 26,136 22,34)
68,535 22,197 11,849 30,242 18,20s 12,844
368,756
Redemp. fund against F.iLBk.notes ...
.,400
137
...
537
All otner resources
...
387
•
52
84
...
'
929
1,452
TOTAL RESOURCES
208,072 1270,248 240,738 278,256 127,533 116,516 439,251 140,609 103,86; 167,836 %4,0?6 171,806 3,330,073
L I A B I L I T I E S
Capital paid-in
6,327
19,645
6,864
8,356 3,756 2,927
9,290
3,454
2,734
3,447
2,823
s
™T?lus
75
649
116
40
216
...
38
Government deposits
5,685
8,660
5,942 11,944
2,943
3,721
7,190
6,256 3,573 5,108 4,780
Due to members reserve account
37,226 6l6,249
87,748 108,734 45,747 39,182 187,954 51,907 40,453 74,884 38,576
Collection items
18,0^3
59,6l4 32,650 21,486 17,523 12,287 24,389 1 5,756 4,099 9,530 5,560
Due to other F. R. Banks - net
...
24,009
...
2,627
1,085
...
...
1,070
Other depos-incl.for.Gov't.credits
75,163
- ••
200
5
2,565
127
15
18
...
Total gross deposits
110,974 783,695 126,340 144,931 67,298 55,194 221,898 74,046 48,140 89,540 49,986
F. R. Betas in actual circulation
89,932 461,719 107,594 124,392 56,363 58,355 207,284 62,706 52,854 66,300 41,150
F.R.Bk.nofcds in circxila.net liab.
...
...
...
...
...
...
...
...
. 8 , 0 0 0
...
All other liabilities
764
4,540
^
51%
565
403
97
549
117
TOTAl, LIABILITIES
208,072 1 270,248 240,798 278,256 127,533 n6,5i6 439,251 140,609 103,863 167,836 94,076




4,263

73,886
1,134
6 , 2 2 V f 72,023Z#)V

69,3^81,44?t957

'

11,260
232,SSlJ
... 0
3,155
81,048
89,964 1,833,275
77,579 1,406,228
...
8,000
7,550
171,806 3,330,073 '

* Difi erenqe between net amounts aue from ana net amomitu aue to otner Federal Reserve Banks-

Released for publication. Sunddy xaorning, March 1J, 1918.
Not earlier,
X-Sllc
STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MARCH 1J), 1918.
(In thou-sands of dollars)
EEBER6JL IQBSERVE NOTES
Boston Hew York Phila. CI aval. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran.
Total
Beceived from Comptroller
. Saturned to Comptroller
Chargeable to F. R. 'Agent
In hands of F. R. Agent
Issued to F. R. Banks less
amount returned to F. R.
Agent for reder.xption.

126,000
102,686

782,630

145,400 154,020 85,740 89,620 264,160 83,500 69,380

10,640

110,800

636,968

v f £-uU . 11,814 17.527
124,140 142, 266 68,213
13.240
12,940
5.455

92,046

526,l6S

110,900

129,326

62,758

13,111
76,505
17,005

10,493
253,667
35,060

10,33;
73,167
6,840

11,678
58,302
4,455

33>7to-.
14,425.
79,315
8,760

68,500
1;,94b

13,175

96,720 2064,120
7,501 , /Op,414
88,519 1758,706
238,410

59,504

218,607

66,327

53,807

70,555

41,379

88.919

1520,296

3,138
52,360
15,057

14,580
2,242
4,674
19.883
41,379

...
4,380
41,116
43,423
88,915

266,824
47,584
554,220
650,668
I520r296

27,600

19,9^9

55,914

821,052

5,4,554

—- mm mm mm

COLLATERAL HELD 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
AMOUNT OF ELIGIBLE PAPER DELIVERED'TO F„ R, AGENT

32,105 191,161
4,937 12,867
11,500
5,000

...
5,371
70,709

13,368
...
2,504
6,93 s
577 2,199
484 2,192
70,000 25,000 39,720 164,988 39,253

43,500

317,140

34,320

39,020

37,181

15,081

53,13 5

13,102
2,159
30,500
24,882
8,046

64,238

423,261

35,976

53,313

3 5,556

15,437

53,315

27,939

8,554

M E M O.a A N D A
FEDERAL
F. R. Notes outstanding
F. R. Notes held by banks
F, R. Notes in actual circulation




NOTES

OUTSTANDING

AND

IN

ACTUAL

CIRCULATION

§2,046 526,16s 110,900 129,326 62,75s 59,504 218,607 66,327 53,807 70,555 41,379
2,114

64,449

6,395

1,149

39,932 461,719 107,594 124,392 56,363

58,355

Within 15 days
Sills diseotmttid,J%id bought
U,S«Gov't short tern securit^rg
Municipal warrants

RESERVE

3,306

4,934

5,621

953

4,255

87,477

45

19

7,614

267,591
4,255-?"? 7
3

88,519 1520,296

229

11,340

114.068

207,284 62,706 52,854 66,300 41,150

77,579

1406,228

DISTRIBUTION OF BILLS, 0. S, GOV'T. SHORT TEEM SECURITIES
AMD HASWirS- BY MATURITIES.
16 to 30 days
31 to 60 d^ys
bl vo 9O cWys
Over 90 days

331,103

153^96- o>70

11,323

145,904
2,132
13

Total

8,657
840,732
2 1 9 3 , 9 8 0

457

541

f
Released for publication Sunday morning March 17, 1918
STATEMENT SHQVING- PRINCIPAL RESOURCE AND LIABILITY
SELECTED CITIES AS
1. jfeta for all reporting banks in each district
Tfember banks
Boston Naw York Phil a. Cleve.
9o.ra^orting banks
36
96
47
79
U.S.Bonds to sec.circ. 14,621
50,496 12,926 42,912
Other 0.0. bonds inc.
Liberty Bonds
10,496
162,767 11,191 37,711
U.S.certif.of indebt,. 20,325
729,243 40,176 46,605
TOTAL U.S. sec
45,442
962,506 64,295 127,426
Loans sec. toy U. S.
bonds, etc.......... 31,346
179,349 22,799 20,924
All other loans and
investments
712,572 4,008,702 597,347 918,9 59
Reserve with F.R.bank
59,039
600,600 64,116 82,527
Cash in vault
22,746
121,936 19,424 35,993
Net deii^nd deposits. . 593,488 4,243,281 578,497 694,835
Tin# deposits
. 60,684
298,223 14,963 217,337
Grovermr-ent deposits... 42,241
499,653 38,594 50,823

Mot earlier
X-8lld
ITEMS OF MEMBER BANKS LOCATED O CENTRAL RESERVE, RESERVE AND OTHER
AT CLOSE OF BUSINESS MARCH 6, 1918.
(in thousands of dollars.)
„
Rich. Atlanta Chicago St .leOuis Minn. Kan.Cy. Dallas San.Fran.
67
39
94
32
32
69
41
46
24,754 15,147
19,367 17,369
5,507 13,939 17,569 35,469

Total
682
270,058

19,250
12,763
56,767

13,462
14,694
43,503

41,364
53,231
113,962

11,229
34,oil
53,409

6,052
11,917
23,476

10,947
23,494
46,3o0

9,657
10,519
37,945

17,334
24,736
77,541

371,700
1,012,936
1,654,694

13,675

2,663

33,106

9,579

2,649

3,209

3,364

5,247

326,134

344,267 291,027 1,354,627 362,545 231,066 452,304 180,646 471,062
29,217 26,432
139,757 36,531 18,937 45,569 18,657 43,308
16,251 14,042
.63,148 13,225
8,532 16,813 11,843 20,211
273,358 213,945 1,014,072 261,961 176,746 403,755 170,037 354,117
45,653 78,617
355,289 77,126 45,270 55,570 24,170 102,365
10,711 10,360
69,500 28,928 16,770 17,342 11,733
0

9,945,544
1,164,890
364,174
6,958,092
1,395,667
796,855

2. Data ior banks in eacn Central Reserve City, banks In all other Reserve cities and other reporting banks

So. reportin_ banks..
U.S.bonis tosec.circ
"ther U.S. including
Liberty Bonds
U.S.certif.of indebt.
TOTAL U.S. sec
Loans secured by U.S.
bonds,etc
All other loans ana
investments
Reserve with F. R.
bank
Cash in vault.
Net decani deposits..
Tic.e deposits
Government deposits..

I




New York
Chicago St.Louis
March 8—March 1
March 8 karch 6
56
56
40
14
35,563
35,957
1,393 10,369

Total Cen.Res.Cities Res,Cities
Country Banks
Total
—toarch 1
March 8— -lvarch 1 March b— -fcarch 1 March 6—Ivarch 1
112
420
112
682
* 676
418
150
* 146
46,720
173,257
170,672 49,476
270,058
264,562
47,170

162,955
711,165
909,703

164,533
770,666
971,176

13,600
31,300
46,493

6,962
19,220
36,551

166,650
622,744
1,056,114

156,742
224,169
554,166

159 , 036 31,241
221,137 27,062
550,647 107,779

155,326

170,840

17,360

7,941

201,223

126,486

123,560

3,5o4,334 3,69o,762

625,346 272,971

560,675
517,166
106,058
104,809
3,859,439 3,895,742
244,485
256,160
471,704
486,067

97,223 28,130
39,145
7,676
686,505 199,787
138,688 57,137
53,021 24,618

Atuinudd. figures

4,767,431 4,531,016

686,028
642,268
152,879
149,324
,745,731 4,785,460
440,310
451,302
558,162

21,001

29,660
371,700
375,366
24,056 1,012.936 1,067,937
100,906 1,654,694 1,707,667
20,163

326,134

344,966

4 ,439,071 731,877

714,629 9,945,544 9,941,331

429,253
397,617 49,609
179,257
178,399 32,038
3,660,197 3 ,597,171 592,164
795,875
767,198 159,482
222,659
194,054

49,267 1,164,890 1,089,152
31,219
364,174
358,942
585,467 8,998,092 8,968,138
156,566 1,395,667 1,375,066
796,655
776,244

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