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 May Sp, 1P18* 1 Not earlier. X-967 STATEMENT FOR ifiE P%ES3. May 25, 1918 Conoidex^able gains in *ohe holdings of discounted pcper, accompanied by in creases in net deposits and in Federal Reserve note circulation, are indicated in the Federal Reserve Board's Weekly Bank Statement issued as at close of business on May 24, 1918. . INVESTMSNTS ♦ Discounted bills on hand show an increase for the week of over ; ‘ 81 millions 3 the New York bank alone reporting an increase under this head of 73*5 millions* Of the total on hand about 65 per cent as against 63 per cent the week before, is represented by war paper, i ce a by member banks1 notes and customers* s paper secured by Liberty bonds and certificates of indebtedness• Aggregate hold ings of acceptances declined about 1*7 millions* p.lthough the New York bank reports an increase of 8«5 millions in its holdings of purchased paper. U« S. bonds on hand increased about 1 million# while U. S. notes and certificates on hand show a decrease of 40*6 millions, practically all at the New York bank# Total earning assets show an increase for the week of 39,5 millions* DEPOSITS« Government deposits shew an increase of 73*6 millions, while members1 reserve deposits fell off about 25 millions, 1 RESERVES: The week witnessed a further gain of 3.6 millions in the gold re serves and of 3*3 millions in the banks 1 total cash reserves* Considerable shift ing of credits in the Gold Settlement Fund between individual banks on the one hand v and between banks and Agents on the other are a notable feature of the week*s de velopment* The banks1 reserve percentage shows a decline from 63*1 to 62*4 per ! ^ cent, largely due to the increase in Government deposits. ^ FEDERAL RESERVE NOTES: Additional net issues of 14,4 millions of Federal Rei serve notes are report,ed by the Agents* The actual note circulation shows an in| crease of 9,2 millions, Cleveland, San Francisco and Philadelphia reporting the ; largest increases for the week. ; CAPITAL: Payment for Federal Reserve bank stock by newly admitted members largely accounts for a total increase of 0150,000 in the paid-in capital of 8 banks * St* Louis reporting an increase under this head of 0100,000* CONDITION OF MEMBER BANKS M Y 17, 1918* » I Decreases in the holdings of both U. S. bonds and certificates of indebtedness, i accompanied by a slight increase in the total loans supported by these securities [ are indicated by the weekly Statement showing condition of 688 member banks in about 100 leading cities. U, S, bonds on hand, exclusive of circulation bonds, show a decrease of 41.4 millions, the banks in the three central reserve cities reporting a decrease of about 12 millions and those in other reserve cities - a decrease of over 26 millions. Of the total decrease of 12.2 millions in certificates of indebtedness about 6.4 millions is reported by the central reserve city banks and about 4 millions by banks in other reserve cities. Loans secured by U. S 3 War obligations increased by about ; 17,8 millions, largely at central reserve city banks. Of the total investments the share of Government War securities and loans supported by such securities is 20.3 per cent as against 20,5 per cent the week before. Net demand as well as time deposits of all reporting banks show but little change, while Government deposits increased about 457 millions. Corresponding j ‘changes at banks in central reserve cities include decreases of 11.3 millions in m net demand deposits and of 7.8 millions in time deposits as against an increase r«-of 313.7 millions in Government deposits. Total reserves declined about 75 millions and cash in vault about 6.3 millions. For the central reserve city banks corresponding decreases of 62 57 millions are ghown. Owing mainly to the large increase in Government deposits the ratio of invest ments to total deposits of all reporting banks shows a decline from 113»4 to 108.8 per cent. For the central reserve city banks this ratio shows a corresponding de cline from 111.1 to 105.4 per cent, The ratio of combined cash and reserve to total deposits declined from 14.4 to 13 «5 per cent and for the central reserve city banks from 16.1 to 14.2 per cent. Excess reserves of all reporting banks decreased from 161,5 to 88.3 millions. For the central reserve city banks these reserves are cal culated at 49.2 millions, or 60.3 millions iess tnan the week before. ■* 1 T Released for publication S-anday morning May 26 , 1918 Not earlier. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAY 24, lgig x-96ya R E S O U R C E S May 24, 191S May 17 , 1913 May 25, 1917 Gold coin and certificates in vault 472.460.000 479.529.000 33 4,2f5 ; coo Gold settlement fund - F.R. Board 407.767.000 418.337.000 183.590.000 Gold with foreign agencies ... 52,500.000 1 'm 52.500.000 ,_____ Total gold held by banks 938. 727.000 950 ^ 6 , 0 0 0 5 1 7 . 355.000 Gold with Federal Reserve Agents 930.181.000 915,536,000 456. 611.000 Gold redemption fund 29.115,000 . 23,502,000 2, 905,000 Total gold reserves Legal tender notes, silver, etcTotal reserves Bills discounted for members and F.R. banks Bills bought in open maiket Total bills on hand U.S.Government long-term securities U.S.Government short-tem securities All other earning assets Total earning assets Due from other F.R. banks, net (a) Uncollected items Total deductions from gross deposits 5$ Redemption fund against F.R. bank notes All other resources TOTAL RESOURCES L I A B I L I T I E S 923,299,000 1.394.404.000 1 . 956.056.000 342.265.000 P P 1 . OOP ^*^'banl?s *n ac'*;'ual circulation F. R-/.notes in circulation - net liability All other liabilities TOTAL LIABILITIES Ratio of gold reserves to net deposit and F.R. note liabilities combined Batio of total reserves to net deposit and F.R. note liabilities combined- 32.476.000 .-- PQQ. 1,277,214,000 (a) 1,832,000 332, 509,000 550,000 3 , 585, 303.000 -Xk-OQO 3 , 573, 555 ,000 75*465,000 1 , 134,000 75,315,000 1 , 134,000 1 , 436, 234,000 242.4S&000 — 107,901-000 1 . 909. 025.000 1 . 573 . 621.000 48,753,000 1,461,133,000 232,475,000 -114, 596,000 1 . 906. 962.000 1 . 569. 445.000 7 , 373,000 3.573.555.000 61. 2$ 63 . 1$ (b) Amended figures. 339.420.000 4oo,ooo _____ ^ 273,000 1 , 647, so4,000 56, 991,000 (h) ___ 12^.321,000 3,585,303 »000 Net amomt due other F.R.Banks. 107,377 .-000 154.964.000 36.513.000 31.145.000 14.326.000 287.443.000 10 . 641.000 41.041.000 73.043.000 1.492.000 1 . 237. 727.000 351 , 407,000 537,000 7 , 764,000 (a) 1 , 014, 263,000 47 . 537.000 1 . 122. 151.000 42.067.000 122, 350,000 36 892.000 1 . 952. 712.000 279.336.000 1 , 201, 520,000 14,033,000 4&§,.44q,0QQ 977. 371.000 53,308,000 ____ - g 9.000 Capital paid in Surplus Government deposits Bue to members - Reserve account Collection items Other deposits, including foreign Gov’ t.credits Total gross deposits 1 . 393. 023.000 76,114,000 813.326.000 170. 151.000 - i6x m o o o 1 , 135, 591,000 454, 402,000 , *• * — ■ — -• •»' • - u r Released for publication S-unday morning ^ay 26, 1913 tt * i• _ r oC-r-J m i STATBffiOT OF BESOMBES AW, LIABILITIES OF a C H OF THE « « rajEML H s S v f ^ S ' A T CLOSE OF BUSIffiSS mY 2l), „ l g R E c»OTTT?f, 7t’ c>'T v ■ • — >. thousands of dollars.) Gold f>oin anr) nortif ioat • . os on aew one hila. Vlevel. fiichm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total ^old com and certificates m vaul-t 2,879 351 319 q tc.t oc c-zi c>rr, r-,-, ~ Gold settlement fund F.R.Board 60 927 39 5g? iin S Sch?. i 'S ,63? 28,276 1,906 8,371 360 5, U05 32 ,lU2 1+78.U60 Gold with foreign agencies ^ ’g 7 23,221+ l 5, 22l+ 81,869 23 ,7SU 18,520 23 , 3 ^ 8, 1+38 17 ,773 *07,767 Total gold held by banks tog m l S K S 2S £ r i £ ~ ~ L£ “ : r : - • Bills dis.for nenibers & F,R.baiiks Jl ’ I S l l h jS l ? q2 ' 100 3 :g g g g g g ! ”; § - * & 277 kh2 17^ lin fion th’ mtf hl’ n** 5 ’ 10P ™ g : g % : g S ;g % g g ig y o 1? : % ^ 6U^ ^ g g a g g g 276 , 8l 6 72,k0J 65,780 6k,k]>$ 39>°12 1 26 ,U60 1 , 956,056 Bills bought in open mricet S ’ u?2 £ ' £ ? 2? ’ 8^ f0’ 771 f y 0?1 71,577 2S,l 60 39,89* 923 299 Total bills on hand ■ # ^l 4 ^ 5 " 6,955. K l ^ 1 , 1+1+6 770 20.669 278.221 U.S.Govemment long-term securities 616 2*7^6 t \hrt -r’lrin 121,782 37,769 28,796 73,023 28,930 60,563 1 , 201,520 U.S.Gov't short-term securities , g° H * ^ 7 , SCO 1.2JU 730 7,200 2,233 1,845 8,861+ 3,981 3,U6l »I2 0S7 All other earning assets 3 ,_75 2,321 9,822 1,523 1,205 3,189 511 1,314 4, 39s 1,750 1 , 51+7 32 , 1+76 Total earning assets Ce coa cat 7 m--T-.' ^ v/---- ^ 2 -- :— 55--- :_9Q.--- 52______ Sit______ 23______823 ______ 20_____ 1.151 Due from other I . S. banks, net ? ’S ? 587,389 f l ’S F ® ’ * 7 51.309 30,371 132,261 40,571 32,039 86,308 35,484 65,591 1,277 216 Ohcollacted items 2 ’73 t<,7Z I ? " ® j,„ “ “ oC ~ — l 2.S?7 5,959 2,263 1,570 — --- 4 14,033 , M ,338-^ q | 6 . 23,, 558 1+1 , 269,, 30,190___ 9.*599 22.*2lg 17 . 86U 17.1+8P! Total deduct.from gross deposits £6'ill ' Eedenp.fund against F.B.ac.notes ^ ™ ^»353 ^2,338 &6, 1^£ ^^,558 5 M 6 £ 3 & M l l , ^ 23,788 17,861+ 17,1+88 351 , 1+07 -1+00 137 537 All other resources ‘ — TOTAL EESOUECES 7~~-7 --- = = --:-= _____ =—_________________________________________________ era 227, 2331367, 1+18 262,569 318,996 11+3 , 078 117 , 91+0 1+63, 21+3 11+9,127 109,681 17I+,93U 92, i+97' 209,539 3 , 585,303 ^ l i a b i l i t i e s ■ S S ^ I“ id-1“ Go^ernrent deposits C to members, reserve account 6' ^ 1%76% u , 72g 12,HiE * 7 ,S30 628,517 S-?_t 10,696 19,19>* 88,711108,184 f t * °T o — j ^ r i d f t f ins f0raign Total gross deposits F iR it o 'n o L r ir c u r c 1;!0Z e i n a b . Al1 3,S J 3 ’ 0J? ^ , 2^7 U,©2 17.362 V 117,292 832,668 127,217 158,629 10e* 5 5 9 ° ^ 128, ^ 190,95 3 ’!f! ^ S 00 ^ 17 70,7^9 6 8 ,2 ^ “ '” 2 9,*t9S 12,615 9,879 9 ,a 8 7,717 >f7.6* 3S,6lU 66,701 36 S76 iU.377 22,563 21,374 U.09U » i U UZ.SUS 37,398 185,287 27,_810 28,728 - %7H 3,154 35 19 - 75.X65 9 92U i s i 'i m 68 23^ I M B Z& l » '$ 4,192 S g S S 107,90} 57, 096220,502 81,708 52,606 90,163 55,666 95,681 1 909 025 57,780 231,690 63,276 53,887 72,299 33,557 109. & 0 I ’M : 6215, — — 502-8^005...... .... -p--- ^ ______ 121,... „^ - .5. .! >&sg______ 5ep 368 llgQg 307 ^6 l ^ 2Qk . . , 227,233 1367’ Ulg 262,569 31 s ,996 1^3,078 117,SUO 1163, 21+3 11+9,127 109,681 17 ^ 931+ 92, 1+97 209, 5391;585 30? erence between net amounts due from and net amounts due to other F»R. Banks = Net amount due to other Federal Reserve Banks ’ ^^L IA M L IT IK * D iS ^ t L ^ w Released for publication S-on&ay morning May 26 1 Q1 S W A W M m 0P HDtasL FEDERAL RESERVE NOTES Received from Controller Returned to Conptroller Chargeable to F.R.Agent In hands of F.R.Agent Issued to F.R.banks less amount returned to F.R. Agent for redemption B st H 12S, |1t Y AG5HTS1 ACCOUNTS AT CLOSE o / ^ s S ^ & Y V *> hile,,..Clevel. lgq’llu 1?o’ S S fq ’ q S H n ’pon 15*940— 110,200 lOT. si? thousands of dollars.) Richm. Atlanta Chicago St. Louis Minn. \SH S 20,792 p?’a S 1 ! c , nl° gr ’ 2i,o4o 15,020 6,200 ^ 8,281 159,250 %~S6jc1918. 24, Kans.Cy. Dallas San Fran. Total 92,740 317,520 92 200 73,980 101,700 68,500 130,340 2 ,382,660 1 6,896 16,974 14,047 13,30 7 17,026 15,394 9,519 3%9.-075 7 5 , 8W 300,546 72,153 60,673 84,674 53 ,io F ~ 120,821 1.993,585 16 ,125 44,120 9,590 4,655 6 ,710 19,300 ---268^900 79 , 861; 59,719 256,1126 68,563 56, 01s 77 , 96^ 33 ,so6 120, sai 2', 503 2,415 112 32,920 152,139 2,182 38,949 13,102 1,^57 31,500 2,070 19,500 2,576 34,360 46,911 21,881 104,175 27,432 21,346 159,250 79.868 59,719 256,426 68,563 64,845 *+7,867 22,675 29,424 1 , 7211.685 COLLATERAL HELD AS SECURITY FOR OUTSTANDING NOTES: Gold redemption fund Gold settlement fund F.R.Bd. Eligible paper, minimum re quired Total AMOUNT OF ELIGIBLE PAPER DE LIVERED TO F. R. AGENT is-, 000 5,663 45,500 1 6 9 ,7 ^ 12,757 65,000 19,51S 6,957 76,704 44,650 318,654 5'4,620 107,813 566/156 138,281 63,591 5S1.15S 5S,959 8,112 80,000 51,620 ll4,o4o 11,581 228,449 53,080 1,998 5,584 6,781 66,496 4 l ,028 14,643 56, 01s 77,964 33,806 4 7 ,5 ^ 120,821 1,724,685 25,385 6s , 476 28,930 50,527 1 , 155,877 56, 01s 77,964 5,665 72,299 33,806 249 120,821 1,724,685 2,131 53,887 643,652 794,504 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 banks F.R.notes in actual circul. 1 0 7 ,S13 ^,915 102,898 566,156 59.S14 506,342 13s , 2S1 3,86i 159,250 8,263 128,414 150,937 79,868 11,587 68,281 59,719 1,93 9 256,426 24,736 68,563 5,287 57,780 231,690 63,276 33,557 DISTRIBUTION OF BILLS, U. S, GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS BY MATURITIES. Within Bills discounted and bo-ught U.S.Gov't.short-term securities M-unicipal mrrants I 15 days 713,043 l 6 to 30 days 31 to 60 days 2,292 118,118 204 191,411 32 455 44 15 ,6 15 6l to 90 days 1 48,054 3,397 Over 90 days 30 ,894 10,968 Total 1 , 201,520 32,476 531 11,611 146,064 109,210 1 , 578,621 CD j *eli Released for publication S-unday morning May 26, 1918 Not earlier. STATEMENT SHOWING PRINCIPAL RESOURCE AlO LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS M A Y 17, 1 9 1 8 I. Data for all reporting “banks in each district. (In thousands of d o lla rs.)______________ . , - .. . . . ... ■-- ,T. X-967d 2 •> 4 O £ <! Member tanks Phila. Clevel. Boston Atlanta Richm. Chicago St.Louis Minn. Kans.Cy. Dallas' ' San'laran No. reporting hanks r nf 42 93 81 4$ 64 32 30 41 37 72 95 41 b° £ U.S. bonds to secure 21,599 14,621 12,978 43,016 266,765 l4,oi4 circulation 19,142 5,642 50,917 14,735 17,559 35,055 17,437 Other U .S . bonds includ 304,658 21,241 ing Liberty bonds 19,940 81,226 21,692 16,993 23, 75s 73,719 22,891 22,465 635,731 9,499 U .S. certificates of 29,089 814,876 45, 47s 37,826 16,334 22,853 32,622 11,721 27,920 18,857 40,320 1 , 153 , 04s indebtedness 55,152 1 , 170,451 Total U.S. securities 82,214 154,561 60,824 60,103 155,520 26,862' 61, 874 53,414 96, 6l 6 2, 055,544 71,751 Loans secured by U.S. 6,244 501,556 60,223 280,334 34,795 44,166 15,551 5,088 26,857 14,103 3,461 bonds etc. 6,403 4,331 All other loans and in vestments 4,024,953 627,410 937,H5 324,293 271,680 1,346,945 375,443 230,591 462,436 173,426 484,511 10,051,62s 46,728 l , i 4 s , m 32,241 17,401 39,744 15,9H 62,794 Si,4i6 Reserve with F.R. bank 66,564 25,531 25,081 139,171 595,479 ll,46o 15,546 13,403 Cash in vault 19,219 373,135 63,937 3,943 27,909 126,896 20,727 35,622 14,845 14,628 998, 2^4 251,343 162,583 356,247 141,965 378,627 8,922,611 4 , 271,156 533,079 670,096 243,175 194,964 Net demand deposits 347,362 74,610 44,936 62,433 •£4,84o 102,282 1,386,698 Time deposits 97,017 270,524 13,903 227,753 39,136 81,902 119. 2h0 65,904 _ 2 5 u_226_ 30.202 18.898 21,168 1 , 284,081 Government deposits____ 114,355 650,035 83,851 104,044 20,629 29,759 , Data for banks in each Central Reserve City, banks in all other Reserve Cities, and other reporting banks. , Count ry„ banks Reserve Cities Chicago St.Louis Total Cen.Res.Cities New York May 17- -(&!aylO May 17— May 10 May 17-‘fey 10 May 17 -May 10 May 17 "fe-y 17 ^ y '17“ - ky I® 154 688 693 146 422 419 No. reporting banks 66 120 120 40 l4 66 U.S. bonds to secure 48,119 266,765 268,482 172,254 172,054 46,103 4s,4os 48,309 circulation 36,573 36,473 1,443 10.392 Other U.S. bonds in 279,211 635,731 677,090 51,531 cluding Liberty bonds 268,676 48,296 253,082 275,527 50,875 14,802 334,353 346,348 39,323 i , 153,o4s 1 , 165,267 262,235 U.S.certs.of indebtc 798,990 37,409 357,346 363,709 258,293 805,879 30,006 28,350 133,973 2 , 055 , 5442 , 110,539 713,500 131,80S 683,629 Total U.S.securities^#][04,239 1 , 117,879 82,324 53,544 1 , 240,107 1 , 258,366 Loans secured by U-S. 187,031 28,445 28,574 501,556 483,736 bonds, etc. 257,273 188,968 242,321 15,671 11,199 284,143 263,131 All other loans and in 7 80,221 811,172 10, 051, 62810,065,23 5 vestments 3 , 687,226 3 , 700,416 821,154 269,025 4 , 777,405 4,785,917 4 , 494,002 4,468,146 51,126 52,595 l,l4s,lll 1 , 223,127 408,816 420,396 Reserve with F.R.Bank 567,161 623,574 q6^ 22 24,686 688,169 750,136 36,009 36,997 373,135 379,413 178.383 173,017 Cash in vault 113,430 116,927 37,650 7,663 153, 7^3 , 164,399 621,220 625,935 8, 922,611 a,935,572 Net demand deposits 3 , 968,140 3 , 960,888 668,880 182,857 4 , 819,877 4,-831,210 3,481,514 3,478,427 179,182 181,266 1 , 386,698 1 , 393,264 795,158 796,319 Time deposits 226,jUj 234,825 130,899 54,712 412,353 420,179 66,914 53,382 1 , 284,081 326,989 473,021 342,627 Government deposits 593>74l 352,707 96,221 54,184 744,146 430,480
@FedFRASER