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Keleased, for publication Saturday afternoon Oct. 12, 191S. Not earlier. St. 13 j; STATEMENT FOR THE PRESS. Octobcr 11, 1918 Saturday, October 12, having been proclaimed a holiday in Washington, the Fed eral Reserve Board issued its weekly statement today as at close of business Thurs day, October 10. The statement indicates considerable activity of the Federal Reserve banks in financing the Liberty loan operations of the member banks, largely . through the discount of their notes secured by U. S. war loan obligations. The effect of such financing is seen also in 1' : increased deposits and note circulation. INVESTMENTS: Discounts on hand of war loan paper, including both member banks and customers1 notes secured by war obligations, show an increase for the week of 52.6 millions, largely at the New York Bank. Other discounts show a decline of 3*2 millions notwithstanding the increase under this head of g.U millions reported by the Hew York Bank. All the Banks show increased holdings of acceptances, the total on hand being 26 <b millions larger than the week before. Increases aggregating 9*7 millions in the holdings of short-term securities are composed chiefly of 2 per cent certificates deposited with the U.S. Treasurer to secure Federal Reserve Bank notes. Total earning assets show an increase for the week of 35*7 millions. DEPOSITS: Government deposits are given as 33*5 millions in excess of the total shown October U; members' reserve deposits show an increase of 11.5 millions and net deposits an increase of 31*9 millions. RESERVES: Gold reserves increased 5*2 millions, largely through the exchange of Federal Reserve notes for gold. The banks1 reserve percentage because of the con siderable increase in deposit and note liabilities declined from 51*5 to 50*6 per cent. NOTE CIRCULATION: The week witnessed an increase of 39*9 millions in the net total cf Federal Reserve notes issued by the Agents. The banks report an increase of U7 .U millions in their F.R. note circulation, besides an increase of 11.7 millions tn their aggregate liabilities on F.R. bank notes in circulation. CAPITAL: An increase of $53,000 in paid-in capital, largely cf the Chicago bank, is due primarily to payment for F. R. bank stock by newly admitted members. CONDITION OF MEMBER BANKS, OCTOBER 4, I 9IS. Largely increased holdings of Treasury certificates following the October 1 issue of these certificates, also gains for the first time since July 19, in the amounts of U.S. bonds on hand are indicated by the weekly statement of condition on October 4 of 7^5 banks in leading cities. Certificates on hand went up 297-6 millions, of which 179*7 millions represented the increase reported by the banks in the three central reserve cities and 159*2 millions the increase for the Greater New York member banks. Holdings of U.S.bonds, other than circulation bonds, show an increase of 3^*5 millions, mainly at the banks in tne central reserve cities. Loans secured by U.S. war obligations increased 17 .6 millions, while other loans and investments declined 110.2 millions, largely at the Greater l«ew York and Chicago banks. The ratio of U.S. war obligations and loans seeured by such obligations to total investments rose fran IS to 20.3 p^r cent. For the central reserve cities this ratio shows a rise frcm 19.3 to 22.5 per.cent. Daring the week total Government deposits increased about 258 millions, of which 177*8 millions represent the increase at the central reserve city banks. Net demand deposits declined 13*4 millions, the banks in the central reserve cities reporting a somewhat larger decline. Time deposits show a reduction of about 16.9 millions. Reserve balances with the Federal Reserve banks, fell off S.3 millions, while cash in vault shows a gain of 12.1 millions. For all reporting banks tne ratio of investments tc deposits mainly because of the large gains in Government deposits, declined from 127.6 to 127.1 per cent. For the central reserve city banks this ratio shows a corresponding dejline from I I 9.2 to 11S.4 per cent. The ratio of combined reserve balances and casii0deposits shows a decline from 1 5 .I to 1 4 .S per cent for all reporting banks and from I 6.3 to 15.6 per cent for banks in central reserve cities. "Excess reserves” of all reporting banks work ou0 at 77*7 millions compared with b3*<^ millions the week before. For the cen tral reserve city banks a decrease of this item fran 56.9 to 51.7 millions is noted. Released for publication Saturday afternoon Ccv-12, 1918. Not earlier. St. 14a STATEtlENT OF CCMBIKED RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BATIKS AT CLOSE OF BUSINESS OCTOBER 10, 191S. October lit-12,1917 R E S O U R C E S October 10, 1918 October 4, I 9 IS Gold in vault and in transit <j. ^ 2 ^ 2 qqq $ 482.716.000 ; 373 , 255, 0^0 Gold settlement fund., F.E. Board 321 . 778.000 419 , 665,000 44s’ 720’ ooo Gold with foreigi agencies 52.500.000 5.229.000 Total gold held by banks — 5a 8 2 ^ 0 0 0 256.994.000 792, T ^ , 000 227,^71[000 Gold with Federal Reserve Agents 580,73*+, 000 1,181,485,000 1 , 157 , 000,000 Gold redemption fund 45.200.000 . , 9,717,000 4 6 . 765.000 Total gold reserves 1,447,445,000 2 ,0 2 5 ,^ ,0 0 0 2. 031. 236.000 Legal tender notes, silver, etc. 48.113.000 51,937,000 52.122,000 Total reserves 1 , 49$ , 55s , 000 2, 077, 371,000 2 . 023. 352.000 Bills discounted: Secured by Gov’ t, war obligations (a) 1,30^,383,000 293.164.000 All other (a) ( 450.026.000 Bills bought in open market 185 . 775.000 3 i 3 ^ e ,o o o 332. 620.000 Total bills on hand 472.939.000 2,017,023,000 2.093.039.000 e>,tn U- S- Government long-term securities 5 4 . 878.000 28,289,000 22.214.000 U. S. Government short-tern " 4 8 . 517.000 56.514.000 66. 193.000 All other earning assets _____ 101.000 _____ 202.000 188/000 Total earning assets 522.435.000 2,102,022,000 2,127,634,000 Uncollected items (deduct from gross deposits) 332.352.000 704,046,000 723,^30,000 5/5 Redemption fund against F-R- bank notes 2,679,000 500,000 3,177,000 All other resources 1.000.000 13 262.000 r s.485.000 TOTAL RESOURCES 2 . 4 1 7 . 845.000 4,899,386,000 5.011.134.000 . L I A B I L I T I E S Capital paid in Surplus Government- deposits Due to members - Reserve account Collection items Other deposits, including foreign govt# credits Total gross deposits F* R. notes in actual circulation F* R. bank notes in circulation,- net liability All other liabilities TOTAL LIABILITIES Ratio of total reserves to net deposit and F.R. note liabilities combined Ratio of gold reserves to F.R* notes in actual cir culation after setting aside 35$ against net deposit liabilities , 78 903,000 1 , 134,000 78.956.000 1 , 134,000 197.359.000 230. 229.000 1,508,33^,000 514 . 110.000 102.256.000 1 , 496, 815,000 512 . 227.000 103.907.000 2. 361 . 529.000 2. 310 . 308.000 2. 431. 004.000 40. 305.000 61.104.000 74.167.000 1.265.309.000 173.225.000 5 2 . 377.000 1.565.678.000 7 7 9 , 225,000 2.478.372.000 52. 031.000 39.046.000 5 . 011 . 134.000 37.732.000 4 . 899. 386.000 8,000,000 ■ 3 i 178,000 2,4i7,s45,ooo 50 . 6$ 51 -5* 74 . 5^ 60. 9$ 62-3 $ (a) Amended figures- Jf Released for publication Saturday aftnraoor. -©ct.12, 1318. Hot earlier. _________________________________ , W T1EH2CLY STATE! lEiTT OF RESOURCES AL7B LIABILITIES OF EACH OF TIIS FEDERAL RESERVE BA15KS AT CLOSE OF BUSINESS OCTOBi^i 10, I 9ISSt. 14b (In thousands of dollars.) R E S O U R C E S Boston New York Phila. Clevel- Riclm. Atlanta Chicago St.Louis Minn. Kans-Cgs Dallas San Fran- _ Total Gold in vault and in transit 2,972 274,399 >146 30,065 6,210 6,948 25,672 2,219 2,199 ,13 5 5,396 3,3^9 Gold Settlement Fund, F.R.Board 51,714 72,448 63,160 37,543 32,374 11,3^5 66,595 10,713 36,552 24,324 4, o 5 37,137 44c, Gold with foreign agencies . 402 2,011 4-02 525______ 204 175______ Sip______ 233 233 231___ _^204— -321-- , Total gold held by banks 55,100 342,858 63,714 62,133 3 S J S S 18,468 $3,089 13,165 44,9^4 24,750 1G,S?5 47,4b7 “fj.*4 ' 1 GoId v/ith Federal Reserve Agents 62,267 225,627 ICS, 4l2 l4s , 366 50,967 45,244 200,880 44,992 J>1,232 52,3 22 25,215 34, &po 1, Ip i, Gold redemption fund 5,445 0.4, 8?! 6,000 645 437 3.212 6.029 2. S04 3 .0 6 l 1,237___ _ 2>l 6l -,-- §41Total gold reserves 122,212 649,306 172,126 217,164 90,19 2 62,130 300,052 60,961 79 , 277 72,309 3 8 ,^ 7 142,5°4 2,031,23b Legal tender notes, silver, etc. — 2 J & U -- .44,022______502______323 671______ 156___ 1 ,03 1___ 1 , 6l4---- 60--- 1°1--- 671 Total reserves 131,446 693,322 172,634 217,427 90,263 68,28b 301,029 62 ,5 /5 79,337 7 3,500 39,002 142,S0;> ^.,085,^26 Bills ) Sec .by govt.war obligations 75,205 529,217 90,362 55,626 49,945 47,644 193,575 52,122 22,57 ? 32,971 30,008 64,470 Discta)Ail Other Bills bought in open market Total bills on hand U . 3 .Gov't. long-term securities short-tern « All ether earning assets Total earning assets Uncollected items (deduct fran gross deposits) 5p Redemption fund against F*R. banknotes All other resources TOTAL resources ii^o io6,39l § > 7 1W V £9!579 59.I** 28.036 3>U09 Us,593 26,9>*7 to,59^ 1<_50, 0Z6 «%8 5 , 0?0 8,7-4? .. 3 7 ,0.63___ 4J+54___ l^QJO-- 1JHZ-- 1 32 5- J .J , (&* Jg8m , _§ 3^S 2§___ 112 ^ 0? . ?4, 22j _ 140,860 214,910 133,722 132,091 72,332 25,972 289,722 24,612 57,951 S3,117 58, 880 132, 8W8 2,093,089 537 x ogo 1>2^ ^ ^509 1,153 ll 6 8,267 3 , 977 3,459 22,21<+ 2^ X 5 29,276 4,321 11,222 1,510 1,99 1 7,112 3,321 922 1,111 1,672 1,259 blb»193 ________________ _________ _________ _________ _ ______fa_____ =_________ yi______=________ =________ r_________ 92----143,213 845 ,594 139,391 150,403 75,022 88,530 301,403 89,129 59,0^9 93,095 64,529 137,666 2, 127,624 5^,396 71 1 6 2 , so,^ 51,229 37,025 so,2^42 7^,337 19,521 55,525 20,611 3 i,SSU 723,^30 180 50 76 355 52 22 431 160 l4o 3,177 733 982 .831 1,415 .......6.S1--- 202--- 9&9--- ---- U Q f i---3JJ±^5 330,671 1 , 705,220 400,646 424,462 218,206 194, 7U6 624,504 226,841 158,262 222,520 125,155 313,901 5 , 011,134 _____qUr 1 , 37^ 55,659 200 1,987 L I A B I L I T I E S 3,108 4,527 3,600 3,108 2, 89s 3,600 Capital paid-in 6,520 20,124 7,362 2,808 4,010 3,149 10,996 3,734 2,898 ? S»95o 38 216 Surplus 75 649 116 4o - _ - __ ^ 19,441 7,514 Government deposits 22,319 42,240 24,924 27,030 7,372 10, l46 14,435 l4 , 563 3,673 3 4 ,613 61,290 Due to members, re serve account 91,228 641,429 97,229 102,139 42,999 32,399 214,326 50,402 47,175 12,030 12,905 30,719 Collection items 44,311 137,252 55,227 37,222 39,041 29,003 52,101 47,172 All other deposits including 165 foreign govt, credits -______ 103f042_____ =___________ 1 __-_________ 33 I. 873 192________ 24 24_____ -________ 1,6.5___ 2, g 20--^08,2j}o Total gross.deposits 164,452 924,575 177,440 172,392 95,412 77,581 282,735 112,341 62,902 111,450 55,197 119,106 2 , 301,589 F.R. notes in/circulation 155,320 727,384 211,234 237,403 116,401 111,640 375,749 107,506 84,272 103,135 b2,373 125,961 2 ,4 /8 ,3 7 2 bank notes in circulation, net , v . liability l,4os 12,119 2,571 3,069 498 1 ,148 9,642 1,706 747 7,995 3,174 1,954 52,^31 All other liabilities __ 2,830 __ 14.309 2.039 2 ,7 90 1 ,7 69 ___ 1 , 182 5 , 166 1,>54____ 1,405 2,^40 _ _ l , 3 p 3 _ _ .2,353-- iiJg^b - — - 4 R eleased for publication Srjfcnrcay afternoon'Oct.12, I 9I8 - Not earlier. St.l4d STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS OCTOBER 4, I 9I 8 (In thousands of dollars.) 1. Data for all reporting b a n k s in each district. Boston New York Phils- Clevel- Richm. Atlanta Chicago St.Louis Minn. Kans-Cy- Dallas San Fran. No. reporting banks 44 103 52 84 SO 4-5 100 32 35 73 ^5 52 7 0 U.S.bonds to secure circulation l4 352 50,923,. 4 ^ 186., 2^ 251- 15;,465 , 1 8, 2U7 17p677. 6, 369. 13, 710. 17,238 5^5 2b7, 0c5 Other TJ.S^ bonds including * . » Liberty bonds 13,657 243,337 29,950 48,308 3 0 ,0 2 3 .2 1 ,4 7 9 43,592 15.162 7,l*+7 13,513 12,979 22,477 501, o2£ U.S.certificates of indebtedness 126,313 S62,3l4 93,474 125,207 46,564 4 8,516 192,289 50,187 25,480 52,107 23,^92 93,702 Total U .S . securities 15*+,322 l, 162,574 134,916 215,701 100,232 85,460 254,728 83,026 38,996 79,330 53,709 150, 69^ 2 , 514 , 29^ Loans secured by u.s.bonds,etc. 4o,475 209,4i6 51,926 34,693 20 ,170 14,086 76,369 l4 , 514 11,327 4,784 5,686 9,l44 493,090 All other loans and investments 768,086 4,232,387 618,262 9 57 ,^ 373,221 305,131 1,412,895 376,928 287,283 461,057 185,082 533,132 10,510,90b Reserve with F. H- bank 72,065 616,026 59, M 81,773 3 2,53 5 27,373 l*+5,929 3^,926 22,279 4 3 ,i4 i 16,422 50,795 1 , 202, 79s cash in vault 25,397 123,939 20,243 35,978 16,839 1^,723 57,612 12,442 10,443 15,798 12,052 21,672 367,138 Net demand deposits 683,727 M 3 1*,285 627,087 747,888 322,233 220,213 1,063,784 264,230 210,100 375,295 153,559 416,040 9 , 5 1 8 , ^ 1 Time deposits 99>92S 263,4^2 23^,i?2 69,763 3/1*23# . 72,7^6 . U5 , 176 6 l .U w 2^,359 11^,212 l , j 4-7,130 Government deposits 68,815 384,262 32,5*+o 50,903 1^,393 7,892 66,125 21,643 15,467 l9>3*+3 5,757 “ 693,1 0 2. Data for banks in each central reserve city, banks in all other reserve cities, and other reporting banksNew York Country banks Total Chicago St.Louisi Total Ceni.Res.Citisis Reserve Cities 0ct-4 Oct.4 Oct. Oct. 4-— Oct. 4— Oct. 4— Sept.27 Oct. * 1 — -Sept.27 Sept. 27 -Sept-27 -Sept.27 451 No» reporting."banks 167 168 7*+5 7^7 14 70 452 70 127 127 *+3 U-S-honds to secure cir 267,025 266,819 170,324 culation 170,049 48,276 48,387 36,729 42,425 ^2,323 36,729 1 .119 10,577 Other U .S. bonds including 501,624 465,159 247,024 Liberty bonds $ 06,680 220,861 9,110 198,021 17,053 221,572 199,033 47,920 44,548 U.S* certificates of in 566,204 108,635 93,573 1,7^5,645 l,44s,o4s debtedness 824,365 962,011 782,271 665,125 105,034 38,612 662,999 935,286 204,831 186,508 2 , 51^ , 29^ 2,180,026 Total U* 3* securities 899,275 123,206 58,299 1,263,460 1 , 052,232 1,046,003 1 , 081,955 Loans secured by U-S* bonds, 493,090 475,496 199,268 26,554 26,048 250,120 206,063 etc* 191,320 260,473 185,9^5 57,829 11,264 All other loans and invest ment-s 3,893,572 3,939,676 271,102 273,369 5,038,043 5,110,723 **,621,455 4 , 661,262 851,408 849,098 10, 510,906 10, 621,143 425,324 1,202,798 1 , 211,095 Reserve with F<r R. bank *+24,533 58,859 59,935 726,627 712,615 592,687 103,551 27,197 537 , 267 3 67,13 8 3 55,075 176,101 149,940 Cash in vault 150,629 110,326 6, 05s 110,066 34,245 167,505 4o,4os 37,630 708,523 699,031 9,518,441 9,531,826 5 , 036 , 44 s 5,057,972 Net demand deposits 4 , 134 ,468 3,773,^10 3,77*+, 223 189,258 733 , 215 M 1 3 .9 7 5 1,447,180 1,464,107 244, 295 4o4 , 9i4 407,076 Time deposits 852,537 197 , 971192,494 211,482 210,33^ l 4i, l4s 51 , 92*+ 171,244 % ,094 27,750 693, 1^0 435,100 235,506 232,774 413,272 Government deposits 192,866 44, 200 16,550 352,522 Ratio of ccabined reserve and cash 14.8 1 5 .1 l4 . i 14.1 15.6 to total net deposits,per cent 15*5 16.3 17.0 16.2 15*3
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