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 16, 1918.
Not earlier,
STATEMENT FOR THE PRESS
a -1005
June 15, 1916.
Large gains in member banks deposits, accompanied by substantial isrithdra^a
Of Government deposits and considerable .increases in gold reserves are indicates
in thy Federal Reserve Board's weekly bank statement issued as at close of busi
ness on June 14, 1918.
INVESTMENTS; Discounted bills on hand show an increase for the wee!: of ?l.i
millions, all the banks except Kansas City reporting moderate gains in their
holdings of discounted paper. Of the total on hand - 64.3 per cent as against
63.7 per cent the week before, is represented by War Joaa paper, a ^ . , member^
banks’ and customers’ paper secured by Government long and short ,en.. v<ur obli
gations, Acceptances on hand declined about. 5,6 milliOAs, New Yor k , Phi lade l p h and Chicago reporting the largest decreare^ for the week in the hcli-ings of pur
chased b ills. U. S, bonds on hand show a decrease of 23.8 millions, the New
York bank having disposed of certain temporary holdings of Liberty bonds^ includes
in the June 7 statement, Total investments show an increase for the week of 2
millions.
DEPOSITS: A net decrease of 24.3 millions in Government deposits is indi
cate d”7~besxdes considerable shifting of funds between banks. Member dames de
posits, apparently as the result of heavy tax payments, increased by 105,9 mil
lions. Other deposits, largely because of the opening of a deposit account by
the War Finance Corporation with the Hew York bank, show a gain of 13.7 millions
Net deposits, owing to the large increase in "float" mainly uncollected items,
which are treated as a deduction from gross deposits, show an increase of but
12.4 millions.
RESERVES: Gold reserves increased 27.6 millions, both the NewYork^and
Chicago banks reporting large gains. Total cash reserves for the first time ^ro
shovm in excess of 2 billions. The ratio of total reserves to aggregate note
and deposit liabilities shows an increase for the week from
to § f p e r
cent,
FEDERAL RESERVE CIRCULATION: Federal Reserve Agents report net additional
issues of 23.5.miIf'£cns"of~Federal Reserve notes, The actual note circulation
of the banks increased by 12.3 millions, of which about 0.4 million represents
the increase in Federal Reserve bank note circulation of three Reserve Banks.
CAPITAL: An increase of $49,000 in paid-in capital is due largely to pay
ments for Federal Reserve bank stock by newly admitted me-.nbers, largely in the
San Francisco and Atlanta Reserve districts.
CONDITION OF KEMB3R BAMS, JUNE 7, 1918
Substantial withdrawals of Government deposits from banks in both central
and other reserve cities accompanied by somewhat sfcaJULiect gains in. net aemansd.
deposits are indicated in the Board's weakly statement of condition on June 7
of 688 member banks and trust companies in about 100 leading cities.
During the week under rev lev/ reporting banks decreased their holdings of
Treasury certificates of indebtedness by about 30 millions, the Greater l:ew
York banks alone reporting a decrease under this head of over Sg millions. U.S,
bends, other than circulation bonds, show a decline of 14.6 millions, though
the New York banks report a gain in their U.S. bond holdings cf 5.1 millions.
Loans secured by U .S . war obligations went up by 9.6 millions, while other
loans and investments show a gain of 41.5 millions. Of the total loans* and in
vestments shown the share of U .S . war Obligations and. loans secured by such
obligations was 17.1 per cent as against 17,4 per cent the week before.
Net demand deposits of all reporting banks increased 55.4 millions, while
time deposits declined about 5 millions. For the central reserve city banks an
increase of' about 30.5 millions in net demand deposits and a decrease of 5.9
millions in time deposits is ncted. Net withdrawals of government deposits
aggregated 144.2 millions, 56.4 millions representing net withdrawals from
centaralreserve city banks, and 74.6 millions net withdrawals from banks in
otlfers3cilfie8. Aggregate reserves sh«w a gain of about 25 millions, this gain
being confined to banks in oentral reserve cities. Cash in vault increased by
about 5.9 millions.
As a result of the decrease in government deposits the ratio of investments
to total deposits of all reporting banks shove-an increase from 110 to 111 per
cent, while for the central reserve city banks this ratio increased from 106,9
to 107.4 per cant. Similarly the ratio of combined reserves and cash to total
deposits of all reporting banks went up from 13.1 to 13.5 per cent, and from 14,4
to 14.9 per cent for the banks in central reserve cities* Total excess reserves
show a gain from 50.4 t# 66.8 millions. For the New York city banks a more than
corresponding gain from 26.1 to 45 millions &# noted.
. •.
-r/*-:■j j ca-i, ion br,-via v turning June lo, xno-
^ot earlier
5TA^T,C?3I? OF nQWUWT) ^SOURCES AND LIABILITIES 0* THE TWELVE FEDERAL ES3EEVB BA13KS AT CLOSE OF BUSINESS JUNE
June 7> 1918
K L S' 0 U H C E S
J u n e 14, 1 9 1 8
463
.
622.000
G.-i a cc o n a n d c e r t i f i c a t e s in v a u l t
4 3 2 >557 .-000
417. 675.000
Gc i-1
t J:l jirert f u n d , F, Jl, B e a r d
4(39,510,000
G o l d w i t h f o r e i g n a&enc-,i^s
44.084.000
51 , ago.000
966,,751,ooo
932. 577.000
mc^ai gn]d h-id "by ban)~s
951, 145,000
952. 255.000
3 o I l *vibh F e d e r a l ^Reserve A g e n t s
Gold r e d a c t i o n tuna
29. 507.000
2 8 . 4 3 1 ,’0 0 0
1 946 ^ 03,000
1 . 919. 263.000
Total gold reserves
’ 58 ,*360,000
58.461,000
Legctl t e n d e r n o t e s , • s i l v e r > etc.
1 . 977. 724.000
Total reserves
27005, 263,000
Bills
discounted
Bills
bought
in
To t a l . bills
f o r s^rnbers
open
and
-2&2*325jm.
jr3.a:.et
1 . 233. 034.000
assets
___ ___ 594 ,000
3 2 . 601.000
694 .000
s „-t s
1.333.410.000
1 o n g ~ 1 e r "; ? -■c u r i t i e s
short- •o
other
-Due i T o m
earning
other
-
m
F^K/Ciiir.s..
ne'w
(?)
(a)
Fst
amount due
64.484.000
40 . 683.000
33 . 179.000
seo u r i ties
Unr
Hrw
IVtal
nu Jror. ^.id s s depos its
5>- Redemption fund a.gavusi F.R.Bank botes
ill other resources
T0 IA.L RESOURCES
L I A B I L I T I E S
Capital peid in
Surplus
Government deposits
Lae to members - Reserve feecount
Collection items
Other deposits including foreign Govt, credits
Total gross deposits
i\ R. notes in actual circulation
F..R.Earik notes in circulation - net liability
All otiier liabilities
TOTAL LIABILITIES
t!atio cf gold reserves to net deposit and
F.R. note liabilities combined
Patio of total reserves to net deposit and
F.R. note liabilities combined
248.542.000
1 . 252. 954.000
Ur S* G o v a ^ m e n t
T o tc.l e a r n i n g
984.492.000
on hand
U.3*Governr>:r;fc
All
016 , 031,000
F* IL B a n k s
1.330.813.000
1, 605,000
19,350,000
$Z3J $ X ,0W .
402. 529.000
637.000
510, 303,000
735,000
3 , 711, 703,000
37849,711,000
75, 711,000
75 , 662,000
1 , 134,000
1 , 134,000
179, 276,000
1,449,486,000
239. 971.000
109 . 560.000
1 5 5 >532,000
1 , 555, 434,000
2 64 . 827.000
123. 221.000
2 . 099. 074.000
1 . 551. 500.000
10, 001,000
1.639.579.000
9,580,000
6,8.55^000.
3 . 711. 703.000
- ............
.3,849,711,000
L* -rt&ftr
526.990.000
459.942.000
___ Jb.95 2 ,OQQ.
1.050.890.000
24.518.000
1.075.408.000
202.824.000
i&USg&J&GL
367.349.000
36.400.000
77 . 728.000
____ 2 , 578-^0484.055.000
5,642,000
a9Q,320.,0QQ.
2957962,000
400,000
5 , 109,000
1 , 860, 934,000
57. 171.000
262. 581.000
270. 734.000
176. 424.000
1 000,000
1 . 310. 739.000
491. 615.000
362,000
,
1.972.393.000
12^201,000
1Q18 .
June 1 5 , 1917
3 6 5 . 020.000
221 . 970.000
14,
.1,047,000
1 . 860. 934.000
60 . 1$
{ •)
59. 7 $
69. 8^
61 . 9#
(t ) 61 .$%
71-4$
*R. 1
rJcs
(, )
sn
f i."vires
-
' ' ■ ..-' ■ 1?r t
^' ^ ^'y morning June 16, 1$13
Not earli(=>T.
.-.lAT^JEJT OF SO U R C ES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE l4, I 9I 8 . X~100 5b
T j i r q ^ i T o p -p c .
o
T ,
thousands of dollars.)
(--•6
V
i
n
Vani*rArffir.-t
•
14
York
phila'
Clevel,
Richm.
Atlanta
Chicago
St.Louis
Minn. Kans.Cy. Dallas San Fran. Total
uoxo. j o i n a n a c e r t i f l c a o e s ± n v a u l t
o ion
or- n
r
i, ^
r
^
r \
,
Z \
*
$ 4
? ? $
8
£ iR
13
ll:o il
33 ,’S t
J :;II
» .i S
fcfi
B s s
f s l 'M
a
.
.
.
;
S
f
c
m
» .E S ” K i “
S
K
&
J a
x
s
r
* "
^
f
§
g
1
<
'•£
7
*
1
2467 769
i F -
* ?
'5 - -
--—
2
H
£
™
^^TOTA^LIAMLITIES6°
!
5
r
*
*
8
»
g
«
§
I
I
M
t
*
“ •«
* •* >
,:,? i
* •*
> :»
—
' | | g
^
. £
7
3
9*555
--I
____“ I
B
j
’« ;!
T 3
8
. 6
%
3 >
1“
s^- 6
16,736
9S,23 8 128,023
35,012 22,261
—
---191
3 '2 E
5,560
4,691
s
e46,7^9 1478,103 284,230
a
«
331 . % o
1
:
8
1
44,579
20,281
—
-
s
*
»
f
S
:
*
g
g
S
*
:
g
S
l
3
S
, 7
§
5
57,682
jZ^
™°
7
«
5
, a
&
3 ’ 5g0
|
1 4 5 ,^ 8 1 3 4 ,9 ^ 489:^
3
31>^ 6
3 'fe7
14,597
54 ,267
23,373
«
g
l
M
l
-1 6 7 ,^ 8
. 7
8
9
5
. 1
5
’:S
0
, . S ;g
?3
l6^ k2
*00
137
, U
7
1 . 3 3 3
6 5 , 6 2 5
2S«015
2*
510,303
735
109,430 172,476 92, 255~23i ‘,697 3 , 8* 9 , 71 *
2' M
3,384
37,400
8 020
Vz§>
g
%
3 ' 527
6 201
2,973
8 204
35^935
6 6 ,0 0 9
M n
75,71i
^ 2 1
i«w’ S ?
79! I 51 1 555*434
6 877
13 770
4* non
___
|
g
s
s
109, lo 2 172^76
* Difference between net amounts due from and net amounts due to other F,B* banks = Net amount due to other F.R. banks
t
!i“
l t U
27>?7S
i
M
— _____ U fo ..
7
g
4
»
S
S S
™
5 4l?
*£
7
S’5°3
--
*S 9 , W i b 7 ,oos
3 '0^
9*S I
12,185 16,023
33,352 192,627
l6 ,l6 4 24,286
7 062 1 1 0 7
s
'» ■
5 5 ------ J » f L ---------- 3----------- a ...
1 2 8 ,
" "
6>^
a
8
fcfr
—
5
«
S a
1* 72 , 6o3~2S4 ,230 331,690 145, 79s 134, 9*5
s
^
paidil,i‘ ^
6 ' “ ?5
l 9 ,S ?
Government deposits
6,705
48,325
Due to members, reserve account
96,615 o?3,738
Collection items
27,441
54,345
Due to other F.R.Banks, net
930
12,283
Other dep. incl.For’ n .G o v t .c r e d it s ____ — - 115,501
£$
*
f
--------------------------
Jj, Redenjj.ftmd against KS-2kActes
All other resources
'
f
£
'’■si
n o t
Y
j
g
^
a
’
i
51
s
ZSk’ S&
^
a
^
?
92,254
Xfc
i i’ .r- pvrr:.lic.Ai-ion ^un-iay morning June l6, 1918
Not earlier
W FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JUNE 14,* 1918
FEDERAL RESERVE NOTEy
aeoeiv ea fro m C o n t r o l lo:.
"Returned to Comptroller
Ch^-gdc.bl 3 t F .R. Agent
In hands of F .u r g e n t
Iscued to F B * Panic 1ess amount
returned to F«K.. Agent fr.r re~
deration
(In
Boston New
York
thousands
Phil&,
Clevel.
of
dollars)
Richm,
Atlanta
159,640 907,480 208,240 205,420 109,860
J A , c ^ _ „ 205,6.?3 34.209 16.822 22.294
128,396
. 11,596
Chicago
St*Lcmis
23.000
8.280
96 , 7 4 0 3 2 7 , 0^0
17.661 18.894
79,079 308,146
18 ,6 75 41.280
593,657 150,^51 165>593
79,236
$ 0 , kok 266,866
701,857 174,031 188,598
-W-t-gQ0_10gJ200
23.180
A-1005 c
87,566
93,200
15.185
68,625
78,015
9.390
Minn.
Kans.Cy.
Dallas
S a n Fran*
Total
6S ,500
73,980 104,700
13.992 17.651
59,928 87,049
4.1S5
8.010
138>020 2,1+92,820
15^150___ 10 , 752 ._ 4 a D , 0??
52,750 127 , 26s 2,072,7^3
IS , 560
279,350
55,833
3 ^ 370
79,039
127,268 1,793,393
CGLLATEEAL ESDI) 'AS SEr.HUTY
FOR 0UT 3TAi®iiJG NOTES;
Cold coin and o0 rt i f .. on hand
Cold redemption fund
Gold se'ttl.j/nen4* fund. F* JwBoai d_
E lig ib le nauei . ; i.iai^iu^ rjv^.:.io d
Tot -1
’
^
A^DUIm! OF i & J G I B L E FAfFIt
L I V E R E D TO F« H. AGENT
8,000
.5,35 6
M9 , 5pO
48,740
111,596
169,740
11,725
65.000
--•••
7,6 34
84,797
E47.192 ^8.420
593.657 150,851
—-
2,504
----- 1 3 , 102 '
— -11,581
--225,444
1,032
2,650
311
2,059
1,685
2 , 4ll
1 ,9 3 7
6>4l3
51,994
31,500 2 3 , 5 2 0 1 7 2 ,3 2 1 37,9 34 19,500 29,360
524
74,631
6 73,707
S I .^00 Ufi.7^U ^ 1.7^0 qLl i 7 U
n^P
pi h.7 p68 pd.pAj?
Ufi P?k
s±lp pIl#
165,598 79,286 6o,4o4 266,866 68,625 55,233 7 9 ,039 34,370 127,268 1 , 793,393
20,517
8,781
85,000
D E
69,359
596,501
70,321
61,897
55,382
M
E M
0 R A IT
c !:a n d in g
F ~ P . notes
out
held by
B*
F*K,
noteo
noton
in a c t u a l
Lark
circulation
111,596
3,788
V vithia
57.704
IN ACTUAL
15
750,382
12,737
499
days
O F BILLS,
16
to
30
104,181
5,901
6
U.
days
S.
GOVERN.vM'IT
31
to
60
32,179
51,413 1,219,848
CIRCULATION
593,6^7 150,851 165,598 79,286 6o,4o4 266,866 68,625 55,233 79,039
.5.5,739....11,535 10.5 66 . 2,2.43.. _2,3.3P. 28,057 _ 3_,Z94_.. lxl£ 2 _ _ 5,412
DISTRIBUTION
Bills discount od and bought
U * 3 . Gov f t * sfcort-t erm s 3cur it las
i-iinicipal warrants
29,646
D A
FEDERAL RESERVE NOTES OUTS TANBING AND
F*
45.254
32,^56 111,736
SHORT-TEEM
days
6l
to
SECURITIES AND
90
247,652
116,472
175
i,4 i6
days
Cvar
34,370 1 27,268
612 10 .14s
WARRANTS
QO
40,267
12,950
days
1,793,393
141.893
B Y WIA.TURITIES.
Total
1,258,954
33,179
505
f c '-rVi icat ion bv-nao.y morning June lb, IMi*
Not earlier
STATE/iHJT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CSTTRAL RESERVE, RESERVE AND OTHER
X-lGQ|>ii
SELECTED CITIES AS AT CLOSE OF BUSINESS JUNE 7, 1918.
?at'a .for all reporting batiks in each d i s t r i c t ,________ (In thousands of dollars.)
__________________________
Member bank
Boston New York Phila. Clevel, Richm. Atlanta
Total
Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.
jio. reporting banks
4i
47
42
29
688
92
32
72
93
S3
67
35
U-!-. bonds to secure cirCulatiui
1 4,621
5,344 14,012 17.579 35*355
51,367 12,975 43,462 23 f220 1 3 1,§25
267„942
17,392
12,,93Q
Other U.S.bonds including
Liberty bonds
278,419 24,527 61,709 27,383 22,169
24,720 10,023 18,680 16,059 23,363
14,736
73,682
595,470
U .S . certificates of in
debtedness
20,864 9,046 16,279 16,034 29,879 1,011,959
31,186 733,399 38,607 . 31,055 13,136 a m l ; 55,124
Total U.S. securities
60, 51+3 1 , 063,185 76,109 136,226 63,739 53,144 1^7,796 .62,976 24,413 48,971 49,672 88,597
1,375,371
Loans secured by U.S,
bonds, etc.
52,816 278,913 32,238 54,442 16,976 6,304
33,214
18,102 4,509 4,625 6,138 7,651
522, 528
All other leans and in
vestments
771 . 65$ 4 , 038,385 628,529 953,472 335,230 246,631 i,3 4 i,2 i£ 366,126 224,894 461,288 167,738 510,433 10,045,636
Reserve with F.R,Bank
63,152 609,698 59,773 76,642 25,856 20,802 135,364
32,295 15,769 42,813 15,237 47,038 1 , 145,645
Cash in vault
26,533
123,000 20,986 34,773 15,491 12,785
62,134
14,045 9,166 16,510 10,369 19,535
365,327
Net denand deposits
666,094 4,399,524 578,464 707,756 256,341 177,006 1 , 006,030 256,041 158,525 353,728 135,002 331,345
9 .080.856
Time deposits
93,373
257,522 13,799 231,93 7 41,841 77,229
344,239 73! 123 36,235 60,482 22, 15&
107,753
1.360.856
Government deposits
92,753
40,819 1 8,287 14,105
I 4 q 6 l 22,108 ..... 765,144
25.xO.2g___ 334,336 59,054 52,664 17,437 12,390
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 Citias
Country Banks
Total
June
7
—May
31
June
7
H^a.y-31:
June
7”
-May
31
June
7—
■'■wfeiy 31
Jisne
7—
June
7—'
J u n e 7~
No- reporting banks
92
66
32
120
120
•
147
422
418
150
6ss
689
^7
U .S, bonds to secure circulat ion
37.023 12,930
37,023
48*971
48,858
17*392
172,547 47 ,’794 45,209
1 71 37 7
267, 9f e
,266,524
Other U.S. bonds includ
ing Liberty bonds
248,584
2 4 3 ,866
73,685
24,720
307,827
252,588
308,745
235,248
595,470
610,048
50,877
U .S , certificates of in
debtedness
722,006 750,071 5 5 , 1 8 4
20,864
801,569
213,436 27,480
7 7 5 , 036
26,873 1 , 011,559 l,0 4 l,S 7 8
209,393
Total U.S,securities
1,008,013 1 , 030,960 1^7,796
62,976 1,132,802 1 , 152,254 616, 4l8
63s, 481 126,151 12 1,715 1 , 875,371 1 , 918,450
Loans secured by UvS.
bonds etc.
259,889 33,314 IS, 102 ■285,151
194,418 30,788
251,355
229,355
206,529
29,129
522, 52s
512,962
All other leans and
3 / 703,725 3 , 676, 0781341,210 366,126 4,732,055 ^.756,493 4 , 471,563 4,486,467 792, 01s 761, 20210 , 045,636 10 , 004,162
inv estment s
Heserve with F.R.bank
523.759
56l, 886 135,364
681,442
351,162
32.S95
704,501
391,917 49,922 49,305 1 , 145,645 1,1 22 ,66 4
Cash in vault
109,258
106,766 62,134 14,045 154,945
152,034 173 , 6s6 1 7 3 ,H 3 36,696 34,306
365,327
359,453
Net demand deposits
4 , 054,914 M70,9S6ioo6> 030 256,041 4,959,736 4,929,211 3 , 493, 79s 3 ,4 8 4 ,3 3 4 627,272 611,950 S , 080,856 9, 025,495
Time deposits
213,152
213,467 344,239
402,971
753 , 25s
73,123
397,037
796, 127170,351 166,724 1 , 360,856 1,3 65 ,82 2
Government deposits
305,332
362,136 92,753
40, sis
413,567
469,965
309, % 3
324,625 -41,584 54,722
765,144
909,312
@FedFRASER