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Released for publication Sunday morning A-ugust U, i 1913; not earlier, X-1105. STATEvIEtfT FOR THE PRESS, August 3 , 191 S, Gains of 6*7 millions in gold reserves and net liquidation of 30* 5 millions in earning assets, largely disco-anted bills, together with substantial withdrawals of Government deposits and further gains in note circulation are indicated by the Feder al Reserve board's weekly bank statement issued as at close of business on August 2, 191S* jjjYjSTxvigiTS: Discounted bills on hand show a decrease of 3 1 * 2 millions, the -aw lor^, boston and Dallas banks reporting the largest reductions for the weak* Of the total shown, 685*9 millions, as against 675*7 millions the week before, is repre sented by war paper, i .e ,, member banks1 notes secured by U.S. war obligations and customers1 paper similarly secured* Acceptances on hand went up about 3*9 millions) the hew ^ork, Cleveland and Richmond banks reporting the largest additions of paper oought in the open market* Redemption by the Government on August 1 of 1 9 0 2 - 1 9 1 2 bonds accounts for the reduction in the holdings of long-term Government securities reported by the itfew York, Philadelphia, Cleveland and Chicago banks. U<8 + short term securities on hand increased about 0*7 millions, largely at the New York -Sail::, -total earning assets indicate net liquidation of 30* 5 millions. Djj?QSlTS: Large net withdrawals of Government funds from the Western banks are snown, total government deposits being 7 I .S millions less than the week before* members1 reserve deposits declined 11*7 millions, and net deposits 64*1 millions, uold reserves show a gain of 6*7 millions ■ and total cash reserves a gain of 5 . 6 millions. Continued concent rat 10n of gold reserves at the -^ew York Bank is noted,^tae baric holding at present about 45 per cent of the system’ s gold, as against-3'5*4 per cent at the beginning of the current year. The ratio of total re serves to aggregate net deposit and Federal Reserve note liabilities shows a rise for the week from 5cM to 5 8 . 7 per cent. CIRC ULATlOnt During the week the Federal Reserve Agents issued a total of 22*7 millions net of Federal Reserve notes* The banks report a total Federal nese.rve note circulation of 1 9 0 6* 5 millions, a gain of 35*6 millions for the week, besides a small increase in their liabilities on Federal Reserve -Bank notes in circulation* CAPITAL: An increase of $77 -,000 in paid-in capital is due primarily to payment for federal Reserve bank stock by newly admitted members in the St, Louis and Dallas districts, CONDITION OF MEMBER BASKS,, JULY 26, I S I S , further additions to the banks* holdings of Treasury certificates in connect ion witn the third issue of these certificates, coupled with considerable gains m Gov ernment, deposits are indicated by the 'weekly statement of condition on July 2 : of 725 member banks in 1 eading cities, u .Zj , bonds, other than circulation bonds, on hand snow a reduction for tne week of 12.5 millions, notwithstanding the larger number of reporting banks. Treasury cer tificates increased 25^*9 millions, of which 15^*2 millions represents the increase for the central reserve city banks. Loans secured by U.S. var obligations show a gain of 13 *7 millions, while other loans and investments went up about 5 . 5 millions, -or all reportin0 banks the ratio of U.S. war obligations and loans secured by such obligations to total loans and investments works out at l4,6 per cent, compared with 12-3 per cent the week before- For the banks in the central reserve cities this ratio shows a rise from 14 to l 6«2 per cent. Government deposits increased during the week about 2 2 o*5 millions, of which 1C4.1 millions represents the gain at central reserve city banks, ^et demand depos its of all reporting banks fell off 42-7 millions, the central reserve city banks alone reporting a decrease under this head of 26*3 millions. Total time deposits show a gain of 1 7 * 5 millions, though for the central reserve city banks a loss of about 5 -allions under this head is noted. Total reserves fell off 10 millions and cash in vault about 1 0 . 8 millions *. For all reporting banks the ratio of investments to deposits shows a rise from 124.7 to 125 per cent, while-for the central reserve city banks, owing to the rela tively larger gain in deposits, a decline from ll4 ,$ to ll4<2 per cent is noted. The r^tio of combined reserve and cash to t otal deposits declined from 1 5 . 3 to 14.2 per cent for all reporting banks and from I 0. 3 to 1 5 *$ per cent for tne banks in central reserve cities. Aggregate excess reserves snow a slight decrease from 1 0 2 , 2 to 96*0 -allions. For the central reserve city banks an increase of these reserves from c5 * 5 to jG *2 millions is noted* Released for publication Sunday morning August 4, 1918. Not earlier. STATikvEST OF C0MBI2IED RESOURCES AIO LIABILITIES OF THE TWELVE FEDERAL RESERVE BAiKS AT CLOSE OF BUSINESS AUGUST R E S O U R C E S August 2, 191 s Jul^ 26, 1918 . Gold in vault and in transit 403. 470.000 418.012.000 Gold settlement fund, F. R. Board 623.119.000 593. 777.000 Gold with foreign agencies ____9.696.000 11.623.000 Total gold held by banks 1 , OUl,285,000 1,028,417,000 Gold with Federal Reserve Agents 902.793.000 910.420.000 Gold Redenpt ion Fund ___36.glgt000 ___ 35,363.000 Total gold reserves 1 . 930. 396.000 1 , 97^ , 200,000 Legal tender notes, silver, etc. 54.022.000 55.129.000 Total reserves 2 . 034. 918.000 2 , 029, 329,000 Bills discounted for members and F.R. Banks 1,270,919»0C0 1 , 302, 151,000 Bills bought in open market 20S.274.000 Total bills on hand i , 4go,io 4 ,ooo 1,507,^25,000 U. S. Government long-term securities 36.237.000 40.090.000 U. S. Government short-term " 17.573.000 16 . 922.000 All other earning assets 101.000 10^.000 Total earning assets 1,53^, 015,000 1.564.540.000 Uncollected items (Deduct from gross deposits) 531,55s,000 55S,392 ,000 5$ Redemption fund against F.R. Bank notes 496 ,,000 701,000 All other resources 12.441.000 lO-^gi^QGa-. TOTAL RESOURCES 4,111,533,000 4 . 165 . 403.000 L I A B I L I T I E S Capital paid in 76.513.000 76 . 441.000 Surplus 1,134,000 1 , 134,000 Government deposits 161 236,000 233. 040.000 Due to members - Reserve account 1 , 423, 532,000 l,435,196,OCC Collection items 390,911,000 401.186.000 Other deposits including foreign government credits 1 11 .340.000 Total gross deposits 2. 090. 397.000 2,181,262,000 F. R. notes in actual circulation 1 . 906. 465.000 1.370.335.000 F. R. bank notes in circulation - net liability 1 1 , 479,000 ll,0g4,000 All other liabilities ___ 2 ^ 5 ^ 0 0 0 . 24.647.000 TOTAL LIABILITIES 4 . 1 1 1 . 533.000 4.165.403.000 Ratio of gold reserves to net deposit and F. note liabilities conibined 57 . 2^ 56.5$ Batio of total reserves to net deposit and F. R» note liabilities combined 53. ic; 5S-7a — , (a)- Includes amount formerly shown against items Due from or Due to other F. R. Banks net. 2, X-llOjja I 1913. August 3, 1917 399, 7S5, 000 *+3S,i53, 000 5? ,5PO, 000 390,43 . 000 467,845, 000 .3 , 39.0, 00Q. 1 , 367 , 673, 000 .53,70.9,, 000 1,421,332, 000 1 3 0 ,9 ^ , 000 .... 17 b, 133 , 000 305, 131 , 000 42,422, 000 25,^64, 000 000 (a) 3 7 ^ ,5 H , 000 201,804, 000 500, 000 -2kk .000. 1 ,9 9 3 ,^ ,0 0 0 57,881,000 56, 765,000 1 , 192 , 837,000 132 , 053,000 . 14,269,000 1,395,97 ^,000 540, 785,000 2,828*000 1 , 99s ,444,000 73. g^ si. 9^ j Released for publication Sunday morning ™ *LI 1913 Hnf OF RESOURCES « S i• ffiSEOTi mch 2, BA3XS AT CLOSE OF BUSINESS AUGUST r e s o u r c e s ^old Boston in. vatilt a n d in transit silver, s p 2 , i 0 A 2 6 1 9 _ 6,474 Government deposits Collection items O t h e r dep.incl.foreign Govt.c r e d i t s ^ J-otal gross deposits 1 5 , 6 2 3 , 7 2 6 1 1 1 3 1 1 i 7 5 4 3 2 9 ^ 6 6 9 38 8 9 0 , 2 4 3 1 , 8 5 7 " 1 9 , 5 7 U 3 1 , 4 9 1 5 , S2,9S1 s , 1 *- 6 H 9 7 , 0 l»ty?6 4 , 0 5 s 0 7 1 1 2 , 0 5 0 L 5 6 9 , 2 9 6 1,34? 5,959 1 , 2 1 , 7 5 2 3 9 1 , 4 4 99 5 1 0 9 , 0 9 5 , $ 8 6 5 5 , ^ 1 1 9 3 1,511 i,a 0 7 9 7 2 , 0 44,593 6 9 -1*151 19,W , 7 3 4 2 4 0 1.263 45 4 6 730 i 382 2 -573 ____________S & 2 2 , 6 2 0 2 , 3 9 1 6 , 0 1 6 ' . ^ 65 725 6 ' 15,428 91 ,574 30,267 137,269 12S,S44 4 0 , 7 0 5 " 6 5 0 6 6 , 3 7 5 1 3 _2,l40 7 ? , , 2 23,352 6 1 6 2 4 0 , 8 6 7 37 7 5 5 86 , 583 2.347 _____ , S S . S 5 9 4 6 , 3 6 s 4 , 5 0 9 2 , 1 1 2 6 1 , 2 3 3 2,233 3 2 1 6 0 28 94 s 2m . 2 9 , 3 3 , 4 8 0 1 9 1 I S a ® _ l 6 1 , 2 9 7 906 z , 6is 3,917 -LlS S 27^; 5 * n . 5^ x ; s i S5:.9S2 3 6 9 , 1 9 6 2 3 , 1 1 9 , 1 , 2 5 0 2 9 , 0 0 7 ' 0 , 4 5 5 1 2 4 , 3 6 1 1 , 5 1 2 4 , 5 5 0 2 , 8 , 0 3 0 4 2 7 c , 3 , 9 9 6 1 s 9 1 9 1,277 63,?S 7 62,329 67 »399 901 1,127 17,573 ---- §2____ . . • 101 35,970 93,39S 1,534,015 76,462 35,212 1 3 ,COS 42,236 17,275 _6aa 94 3,117 IjJaOiL 9 , 9>» 17,a3 _ ^ ’^ 2 i s | 24,124 167 s4 1.37 y-f®--- 263--- f c S - J u I s — 3,622 ^ ’ p°? 2 f L ib 5,296 lffi,s69 51*7,167 165,900 116,1133 1 9 5 , 3 9 5 ~ ® 13,777 13,980 2 9 , 9 4 1 , 1 2 408,470 1,088 64,386 332 _ . l A o _____ 189 54.02P 64,724 77,592 69 959,1 1.120 M J £ 1 ^ 2 0 a J s i i 5 77,751 31,061 So, 810 l,4S0,f104 * -71 3,979 3,4Cl 36,3*7 2.SK9 3,542 14 ,88 S '7 ? 7 Total 14,438 “ “ 44,167 1 041,285 so,194 902,793 331. - 3- 62- 6,940 osa l59i 6,289 7,149 3 , 7 8 8 2 £*llas San Fran. 36S , X-H05b ISIS. 21 ^7,149 252,989 25,951 14 3 3 , 3 6 3 1 3 g 4 9 , 0 6 3 , si 4 1 5 R K — J-4t02£— izlli_2___ 6^021 4 8 5 , 8 0 0 , 7 7 0 6 53 p7c 95 9U 93g s 2 ,75 Du-e to members, reserve a c count £.R. notes in actual circu l a t i o n .R.Ban£ notes in c i re.,net liab. All other liabilities TOTAL L IABILITIES , 6 _________4 1 9 27>*,5ltl 1,523,706 JloTsjs L I A B I L I T I E S Capital p a i d in Surplus 2 1 , 1 1 3 153,997 191 7 5 3 2 369>15S 1,12^ Total earning a s s e t s 107 644 nc o l l e c t e d items (deduct f r o m g r o s s deposits) 5/“ ^ederrtp.ftmd against *K^i5k*notss 49,170 -11 other resources T OT A L RESOURCES ? O S 1,416 " , 926,4i 0 k f k j O 5 , 1 0 1 6 Minn. Kim s , C y . 8,zkl 6,584 388 i >g00 1 9 3 ros"fo6— 1 0 , 7 2 114,467 2,508 3.16,975 U.S. Gov eminent l o n g - t e r m securities 6,788 27,123 6,3*7 3 133k. B 36,428 1 3 , etc. l,36o 294,005 43,377 ^2,313 _____,679 373 4 2 9 ______gsi_ _ i , 3 5 7 588,204 50,416 79,614 20,442 279,023 99,031 110,497 23,312 4,000 1,002 M & 5. 2,692 3,812 153 44 53 24 4 3 550 54 84 56,22 B i l l s dis.for numbers & F.R.B a n k s ills bought in open market Total bills on h a n d u.o.bcvernment sho r t - t e r m A 11 other earning a s s e t s £90,854 - -- 6za_ Total g o l d reserves Legal tender notes, Total reserves N e w Xoric 8.394 **5.776 G o l d settlement fund, F.R, B o a r d u o l d with for e i g n a g e n c i e s T o tal gold h e l d b y b a n k s G o l d w i t h Federal Reserve A g e n t s G o l d redemption f u n d (In thousands of doll oars.) Phila. Clevel. Richm. A t l a n t a Chicago St. L o u i s 2U' sB 6 85, 1 3 6 2>0 ,32l 3,027 4,49s 3,096 14,132 53i,55S 4 96 3XL55L M n 75 J 76,513 1,134 161,236 63,372 28,630 70,702 1 , 423,532 ___ 9,670 22,536 10,884 10,810 390,911 _26_ iLSSO 114 . 71 s 1918. Released for publication S-unday morning Aug-ust 4, Not earlier. X-1105c STATIMEUT OF FEDERAL RESERVE AGEt-JTS1 ACCOSTS AT CLOSE OF BUSINESS AUGUST 2, 1Q12. „ FEDERAL RESERVE NOTES: R e c e i v e d f r o m R e t u r n e d t o C o m C o m C h a r g e a b l e I n h a n d s - i- s s u a d F F . R r e t u r n e d d e m F . R . R . A . b a n k t o F ( I n N e w Y o r k P h t h o u s a n d s i l a . C o f l e v e l . d o l l a r s , ) R i c h m . A t l a n t a C h i c a g o S t . L o u i s M i n a . Kans.Cy. D a l l a s S a n F r a n . T o t a l p t r o l l e r , A g a n . R . A g e n ‘ i 76 H p t r o l l e r t o o f t o B o s t o n 5 M ° S u s ’ 020 99, 5^0 378,300 105,630 73,550 111,700 623 25 ,938 20,072 23,931 1 s ,791 15,127 19,295 196,079 211,977 92,082 79, 56s 355.369 86,339 63 ^ 5 3 92,405 — 20,350— 22, 000— 5jJZZ5__ lihJZ3.5. 59,620 7.750.... 3^gR5__ -6 _ 1 Ll3*5 So Jn’ cn? t t l e s s g e n t a m o u n t f o r 6 3 , 5 0 0 1 6 2 , 3 3 0 1 7 , 1 3 2 1 2 , 1 0 2 5 1 , 3 6 0 1 5 0 , 2 7 3 2 , 7 3 9 , 7 0 0 4 7 3 , 4 7 0 2 , 3 1 1 , 2 3 0 2.lX . 050 r e p t i o n - - . ^ V . ^ _ . . ? I 3. l ^ S i I 51099_lS9 , ^ 7 _ 59, 59s 85, 51,5 S6L307 ^ 59,733 30U ,71*9 79,11*9 33,333 150,27s 2 ,0 2 3 ,iso COLJATSML SECURITY FOR OUTSTANDING NOTES: S ; : l : ^ “ i lcatss “ hana Gold M U laneat fund, F.K.Soard p per- mini™ r 7* l% i t ri* to '.500 100 ^00 W j h “ f * 9 o ’, 0 0 0 m u l r '5d 131,164 AMOUNT OF ELIGIBLE PAPER DELIVERED TO F. R. AGENT 105>1q6 673, 19 s 175,099 139,977 485,330 -- ^ 35,854 111,450 3W ' S -U 92 ^ ' ^ «.!«.■ 9 - 3f 3 g ...3 6 :S i 1 ^ , 1 % 86,307 59,733 304,749 ht’M ° H w , 79 , 1 % 59,593 67,510 36,749 241,831 43,303 54,174 ----- 1 1 , 5 3 1 1 . 8 1 2 0 1 , 2 3 9 5 8 , 5 9 3 5 3 4 7 1 , 6 0 1 59,351 6 4 1 , 7 0 3 _l i, 503_ 35,545' 3 3 , 3 3 3 A xi_25^J,?j_ 1 5 0 , 2 7 s 2 , 0 2 3 , 1 3 0 1 , 4 2 5 , 4 3 7 77,751 3 1 , 0 6 1 7 9 , 2 1 3 M E M 0 R A IJ D A FEDERAL RESERVE HOTSS OUTSTANDING AND IN ACTUAL CIRCULATION f . R. notes held by bank F .R . n o t e s i n a c t u a l ^ S * 7qf ^ ^ s ls s o c i r c u l a t i o n i S W i & 'B W " ’ "o* 1 ?p’ I S Sh’^ n _____________3 6 3 b2c,402 167,206 177,291 81,563 59,733 304,749 79,149 59,598 35,545 33,323 150,272 2 , 02a,ISO 58,553 279.752 75,926 53,346 30,353 33,020 137 , 69917906 ^ 1 2 5 7 9 . * 1 2 1 DISTRIBUTION OF BILLS, U.S.GOVSRNifENT SHORT-TER.J SECURITIES AND T&EBANTS BY MATURITIES W B i l l s d i s c o u n t e d a n d i t h i n 1 5 d a y s 9 0 1 , o g U $ . S , G o v e r n m e n t s h o r t - t e r m s e c u r i t i e s 2 , 5 6 0 M u n i c i p a l w a r r a n t s 1 6 t o 3 0 b o u g h t 1 6 6 , 6 0 3 d a y s 31 to 60 days 2 3 3 , 1 0 0 3,4^5 51 6 l t o d a y s 9 0 1 3 3 , 9 2 2 1 , 9 S 5 O v e r 5 0 9 0 , 3 9 Total d a y s 5 9 ,6 o U 17 1 , 4 3 0 , 1 0 4 17,573 72 7 1 5 Released for publication Sunday morning A-ugust 4, lQlg, STATBQUT SBOOTG PBMCIPAL , j.,. Hot earlier I W p. „ . . iJata for all reporting banks in each district. _______ No. reporting banks » M W B R E K K 3 L0CATED *» ® B » ‘,'e^ 0rk ^ la* C lW . AtLsmta i ic n a ?W j- l£ o* 1 1 % 55.355 2 »% > 27,525 55,551 30,573 25,247 79.371+ 21 , 15 s 12,4s4 13,5re3 15,637 24,420 530,221* ,^ .7 5 5 f .W w toi’w S ’H? i S ' S i I ’? S J H 50 46*153 ^ 4?*571 kk io*n- - iJ a 732*219 4 355*896 601%71 xkn^Ii 7fc S I I S ’S ? 5o‘ o'n I? ’? F 5 ? '* £ 26,757 23.397 Net demand deposits Tir^ deposits GOTemnent deposits 2. n . u - S T f e . in each 642*030 4 \fAti c « * ? S S * S gag ’ S ’pU? S ’ L k o l^O R n ’ f^o In ’nhh r ttsi Ho. reporting banks U.S.bonds to secure circulation Other U.S.bonds including U . s 'c e r t i f S j s of * 3^*^^7 93 265*976 01*?«7 7 7 79,763 Time deposits Cot eminent deposits *5,206 i S ’n ^ IH ?n « '? $ ^ * 2 * ? *5*15° 6 24,857 57,672 4,510 50 0 23O.7I7 1*5,675 15,579 282,665 3,938 110 216*1^^ 474*537 ^^087 3 oSl’ I S loo’ glp 2 S9.812 10,605 43,336 5>H6 J6(5» • 736,331* 93,339 1,640,338 3,4/3 437,364 526,300 10,540 13,852 a {7 ' S o 1 7 ,3 3 2 294,768 235.105 26 242,23* 19 56,511* 55, a * To+al July 26^-July J 725 718 273,720 272,366 1 530, 22!* 592,890 238,625 198,916 50,11,6 35,271 5* 7 , 1*1 7| ? '1|J 63 I*5 “6 697,600 614,637 156,5X1 141,034 1.640,33* 1,393 M T 2® ' 253, 256,791 194,441 187.320 29,670 29,505 1*87,364 S ' Sf? 5,1 5’3^5 4’ 569.500 4,51*7,622 533,241 342,270 10;540,667 10, 535,197 713,243 707,829 383,064 1*00,939 54,615 53,099 1,150 922 1161 867 ll’f a ^>7s5i°17 41*0^ W . 025 ^ 470,965 167,651 667 ,606 45,330 43,470 1150 9 , J?*m I12’241 ,8'P8 15,327 10’ 53U 20’ 3°5 352,910 ’^ 3 ’ ^ 2^ , S 2S l 6l , 671 353,220 130J10 373,703 2, 576.509 32?>?lo 73,916 44,905 62,320 26,026 117,506 1,426,697 135 26 Total I n s e c u r i t i e s 64o '?63 ™ ’ 7« ; i m ’ ^ n k l 'f ? Loans secured by U.S.bcaids.etc. iw o 96 ^ t ’ ESS All other leans and investments I, C 10 6ll 1* m ' S J ' S Reserve with F.a. bank "^9L*’6l7 ’ 5sa’ 7i? o*'nn 7 s C e f i Cash in vault iJo’K 35,007 2 3 , 6x9 Hat demnd deposits 2 17.170 3o,123 * ,349 6,120 373,355 257,079 30,373 17,724 Ti-ii^oC ° t\ Chicago St.Louis Total Cen.Res.Cities Reserve Cities Country Banks 6j fe 1& ll ^ 19 ^ — July 19 July — July 38 163 37 643 1 U6o ,o , 0 , I? W Ujl, 166 165 ’ ^ 10,39, <? 49,504 173.S10 173,433 49,381 49,379 227,1*11 T otal'- > $17 75^6 s San Fran. 18’ ” 6 Tot“ f S ? s dnsI=urities Loans secured by U.S.bonds, etc. All other loans and investments Reserve with F.R. bank Cash in vault ^ Kans.Cy, Dallas 15-590 25**, 997 s S t. Louis Minn. * ’< * ll* '055 r Chicago ' * ' 6S) O .S .e a r t if iS t s s of ! . u y 11(Kd *-1105d * ' ■ *'»* » n S H T S AM) OTHER thousands of dollars.) 1“ , 6 a S ® H I , ^LECiED CITIES AS AT CL0 S2 OF BUSINESS JULY 2$, 191.?. , 15° ' 110 ^,315,325 ! ? ’? ^ 3 ,2 0 0 532,944 343,307 167•‘‘3 s ^ .3 6 4 So^K 3^810 363:715 321,365 250,596 307, l 60 201,60*3 193,352 2 15 ,2 9 4 45,209 3 3 ,7 0 2 1,426,697 329,349 1,409,*212 So l^t 36,398 3, 429,396 3, 452,422 657,596 65l , 4gg 3, 376,509 3,919 235