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Released for publication Sunday morning Nov. 10, 19IS; not earlier. St .60 STATEMENT FCB THE PRESS. November 9> 1913* Increases in the holdings of war paper* in Federal Reserve note circulation and j.n member tanks * reserve deposits, accompanied b y somewhat smaller withdrawals of aoveiTiiienu deposits are indicated by the F e d e r a l R e s e r v e Board’ s w e e k l y "bank s t a t e m e n t issued'as at close of business on Nomaoer g , 191 S , Holdings of war paper, i «e *, discounted bills secured by Liberty bonds^a n d t r e a s u r y certificates s h o w an i n c r e a s e f o r t h e w e e k of 64**1 millions and c o n s t i t u t e at present 57*^* per c e n t of the .Reserve banks{ total earning assets, as against 5 5 * 5 p e r cent the w e e k before* Other discounts on hand fell off 12 .g mill ions, N e w Y o r k and Minneapolis reporting considerable liquidation of this class of paper* Bills purchased in 6pen market show a decrease of 2*5 millions, while Gov ernment short-term securities on hand show a net gain of 3*2 millions, three banks reporting the acquisition of 1-year Treasury certificates to secure Federal Reserve banknote circulation* Total investments increased about 52 millions* S^QSITSJ Net withdrawals of 89 *1 millions of Government funds account largely for the increase of 103*5 millions in members1 reserve deposits, all the banks* except Dallas, showing substantial increases under the latter head* Net deposits show a slignt decline of 1*9 millions* 1SSERVES: Gold reserves declined 5 millions, while total cash reserves fell off 4**8 millions* The banks 1 reserve percentage because of the deduction in re*serves and of the increase in note circulation shows a decline from 50*4* to 4*9 *8 per cent * ^RCULATION: Federal Reserve Agents report the issue during the week of about 3 3 millions net of notes* The banks show an actual circulation of 2,558.2 millions of Federal Reserve notes, an increase of 42:7 millions for the week, be sides aggregate liabilities of 68*9 millions, as against 63*3 the week before, on Federal Reserve bank notes in circulation* CAPITA^: Payment for Federal Reserve bank stock, following the admission of new members and the increase in capital stock of member banks, accounts for an in crease of $4*64^000 in paid-in capital, New York alone reporting an increase under this head of $397 ,000 < CONDITION OF MEMBER BANKS, NOVEMBER 1, 1918 > Substantial liquidation of Liberty bonds and Treasury certificates offset in part by increases in loans supported by such securities are indicated.by the weekly statement of condition on November 1 of 750 member banks in leading cities* Treasury certificates on hand at all report5.ng banks fell off 50*5 millions, and U*S* b'jnds5 other than circulation bonds, - 3 7 * 5 millions# For the central reserve city banks corresponding reductions of 24-*8 and 14-.2 millions are shown % Loans secured by U*S. war obligations went up about 7 7 millions, the Greater New York member banks alone reporting an increase under this head of 57*1 millions ♦ All other loans and investments show a total increase of 15*3 millions, notwithstanding a decline of 1 2 *6 millions shown for the item by the New York members* The ratio of U<S> war securities and loans supported by such securities to total loans and investments shows a sligh't decline from 22*3 to 22*2 per cent* For the central reserve city banks this ratio, because of the relatively larger increase during the week in loans secured by U*S» war obligations, shows a rise from 23*3 to 23*6 per cent * Government deposits show an increase for the week of ^18*6 millions, of which 303'7 millions represents the increase at the centre! reserve city banks* Inversely net demand deposits show reductions of 184*6 m i l l i o n s at all reporting banks and of .129*6 millions at the banks in the three central ro serve cities* Time deposits show a gain of 29 .7 millions* Reserve balances with the Federal Reserve hanks de clined 187*4- millions, both the banks in the central reserve and in the other re serve cities reporting 3arge reductions in their b a l a n c e s with the Federal Reserve banks* Cash in vault also shows a decrease of 10-4 millions* For all reporting banks the ratio of investments to deposits, because of the large gain in Government deposits, shows a decline from 130 ♦.£ to 126 »8 per cent* Jor the central reserve city banks this ratio declined from 121*1 to 117*6 per ;:ent . The ratio of combined cash and reserve balances to deposits, because of the ■;.arge reduction in reserve and the considerable increase in deposits, shows a rela tively larger decline from 16,3 to 13'9 per cent* For the central reserve city janks a decline in this ratio from 17*9 to 15*2 per cent is seen. "Excess reserves" of all reporting banks declined from 232*6 to 67 millions. For the central reserve city banks a decrease of this item from l4-g *5 to 4-8*9 millions is noted* Released for publication Sunday morning November 10, 1918; not earlier. St.60a STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 8, I 9I 8 . R E S O U R C E S November 8, 19 I 8 November 1, 19-1S November 9,1917 Gold in vault and in transit $ 386 , 437,000 $ 383,833,000 $ 507,4-03,300 Gold settlement fund, F. R. Board 435 , 1+52,000 3 8 5 .7 2 4 .0 0 0 449.248.000 Gold with foreign agencies __ S,829J)00 5 2 .5 0 0 . 000 5.829.000 Total gold held by banks 827,712,000 945 . 627.000 838.910.000 Gold with Federal Reserve Agents 1,11+5,640,000 6 1 6 . 254 . 000 l, 149,859,000 Gold redemption fund ___ 7 3 , 233,000 ____ 1 11 496 , 000 63.460.000 Total gold reserves 1,573,377” 000 $2,046, 591,000 ?2 ,C 52 , 229,000 Legal tender notas, silver, etc. 52.208.000 5*+, 248.000 53 •. 456,000 Total reserves 1,625,585,0002,100,839,000 2,105,685,000 Bills discounted:Secured by Govt.war obligations l,252,904/)00 1 , 316 , 967,000 510 . 154.000 A H other 4-93,04^, 000 i+go, 271,000 Li11s bought in open market 181.001.000 ,..37 ^ 52 2.0 00 377.0~fr2.000 Total b^'lls on hand 691 , 155,000 2 , 1 7 1 , 760,000 000 2 , 123 , 019 , U .S . Uo?fc>ri!nD>.3ttt long-term securities 53,743,000 29. 479.000 COO 29 , 472 , U.S. Governaont short-term " 42,367, Cw 91 . 956.000 C>(o 88, 750, vCO All C'ther earning acsfits _________ 2S,_oqo 000 ___ 1 , 273 ,0 00 15x Total earning assets .241,2(6, 2 , 2 9 3 , 2 2 3 ,0 0 0 7SS, 53£, ^00 Tineo'lletted items ^dea.net from gross deposits) 279 . 521,000 6S7,46 S, coo GOO 6s4,3l55r> Red'-raption fund against F.R. bank notes 537,000 3 , 924,000 3,763, oco All ocher resources 18. 790.000 17.075. 000 .2 , 989., .PPQ TOTAL RESOURCES 5, 104, 244, GCC 2 , 69( , 1 (0, wOO 5 , 052, 114,000 A L I A B I L I T I E S Capital paid-in Surplus Government deposits Due to nenbers, reserve account Collection items Other d e p o s i t , including foreign govft. credits Total gross deposits F* Jfl* no'oes in actual circulation P, R« bank rotes in circulatio n - net l ia b ilit y A ll other l i a c i l i t j e s T o m LIAB I HiTIES Ratio cf total reserves to net deposit and F .R . note l i a b i l i t i e s combined Ratio of £olcL reserves to F*R« notes in actual circulation after sotting aside 3 5 f° against net deposit l i a b i l i t i e s 79 , 360,000 1 , 134, COO 7 9 ,8 2 4 ,0 0 0 1, 134,000 16c, 256,000 L, 5^5, 396,000 527,796,000 Ii4 .o 4 i.o co , 5? ,198,000 24-9,3 9 7 , 0 0 0 i,»Y42,493,ooo 543,975,000 ~ H I . 827.000 2 .348. 989.000 2. 558. 196.000 0 5 . 864.000 47 . 237.000 5 .1 0 4 .2 4 4 .000 4 9 . 8^ 59.4f0 65 , 345,000 2 . 3 4 7 . 692.000 2 . 515 . 504.000 6 3 , 332,000 1+5. 086.000 5 . 052 .114 .000 50.4 fo 6 0 . 6 $ 1 ,4 0 0 , 982,Ouo 187 ,0 , 0\j\j ___ 34 , 800 , OOvj 1 ,6 8 8 .0 6 8 ,oOO 932 , 512,000 S ,000,000 .245^000 2 , 697, 170,000 69 • ¥ released for publicat:- on. Sunday rooming November 10, 1918; not earlisr. St.60b WEEKLY STATEMENT OF RESOURCES A1TD LIABILITIES OF EACH OF USE FEDERAL EESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 8, 1918. (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. Cy • Dallas San FranGold in vault and in transit 3,491 277,226 346 38,073 6,226 7,70S '£4.979 1,252 8,310 123 6,122 I t , 581 380,437 Ck-Id settlement fuz'd F.ruBcard 51,928 71,893 *K>,171 32,876 9,074 12,655 78)177 30,571 26,585 29,977 12,370 39,175 435,452 Gold, with £oral go. agencies _____408_____ 2,011 4o8 525 * 204 175 816 233 233 291 204______ 321______5,829 Total gold hexd by berks 55,82? 353,130 40,925 717474 157503 207538 103,'972 32,056 35,128 30,391 20,696 50,077 827,718 Gold w »n federal Reserve Agents 67,261 283,856 82,212 140,880 60,384 45 ) 315 190,989 4S,790 53,007 4S,044 24,129 100,773 1, 145, ^40 Gold redemption fund 6,Oc.4 2 4,992 7,500 554 6,244 4,385 10,729 3,24-6 3,^39 3,759 , Total gold reserves 129,182 659,978 130,$3*7 212,908 ’827132 707238 305 ,690 84,092 91,574 8 2 ,195? 46,981 150,385 2,04b, ?jl Leg®-! t-nd^r notes, silver, etc. __ 3, 9^3 43. 483 637 434 66l 185 1 , 3 3 5 ' 2, 0 5 4 _____ 64 } 2S 1' YtS 2£2 Toxal reserves 133,125 703,461 131,274 213,3^2 82.793 70,423 307^025' 86, lW ~ 91/638 82,322 48.083 1^1,20/ 2,100,839 Bills Jrjocrby Govt< •war obligations 11 S , $43 574, 655123,571 73 , 2i4 65) 3*48 Us, 89U 15'8,336 „ 5U, 26*+ 9 , 9^3 29,999 l4,394 ^7 ,>06 1 , 31 b , 967 D5 3r t d /;.U 1 . :ther ‘ 11 ,616 103,678 15,239 19,3714 20,197 36.556 93, stfT7 31,255 28,405 53, 5^2 28,955 37,537 48C , 271 Bills ij01,rh.j in open market 30. 710___ 134. 0U5 4?t343__ 60,597___ 9,660 12 .560 32 6Sh 3,399 3.843 7, 442 _ 2,340__ 2 U 2 9 -Total M i 1? on hand 159,169 812,373 181*153 1537X5 95?205 $8,010 284,857 88,318 ~U2,191 90,983 46,329 119,3^2 2,171,760 U«3 .G.;v: t . long-term securities 1,760 1,400 1)358 1,088 l)234 520 4, 509 1,153 126 8, So? 4,003 3,4ol 29,479 u. S- lr^v’ t-short-cer.u securities 4,4l6 37,089 6,318 10,825 2,785 3 , 96? 10,612 5,070 3,066 2; 9S6 1,902 2,920 91,556 All cthc’ eiurni-ag assets -____________________ ________ _________ ____________ 2S ________ -________ -________ -________ r________ 3_____________ §? Toti.1 oaKiing assets 165,345 850,867 188,829 165,098 95,224 102,525 300,018 95, l4l 45,383 102,836 52,23*+ 125,723 2,293 , 223 Uncollected items (deduct frcm h" -' deposits) *+7,108 1 ^ 3,350 6l , 8is 57,494 54, SOI 45,203 80,621 61,526 15,783 67,868 20, 5^8 31,348 6 87,468 i-ed^!..:'c j.cri fund against F.R. •br,-> r.o^e-2 121 1,309 225 275 135 1U9 537 151 88 471 2l 6 207 3,924 777______ 2 l 6___ I,J 2 4 -- 1 J 3 1 --— 18,.79.0 All ct:,;-r re ■ ;<,ureas qQ6 3 130 4 6l7 730 1,3 5*5 __ 811___ 1.986 TOTAL REdU^kCSS 3^ 0, 035 1,702,117 386,763 U36 , 939 233,308 219,171 690, 186 2U3 J S I 153 , 10s 254,621 122,278 3 10 , 277 5 , 104,244 L I A B I L I T I E S Capital paid-^n 6,599 20,711 7,391 8,368 4 ,0 4l 3,171 11,084 3,785 2,909 3,610 3,118 '4,537 79,824 Surplus 75 _ _ 116 Uo 216 - 38 Govensneut deposits 33,090 28,274 3,268 8,565 8,824 23,070 1,605 22,261 *13 6 21,707 _ 6 , 1 S6 3,542 lpO, 256 :\.rr te jxr.bers., reserve account 102,764 641,278 90 3^1 121,736 50,155 43,033 205,724 55,513 50,377 69,985 3 1,647 83,243 1,545,996 Collection i <,c&& 44 ,161 132,954 56)163 39)627 *+1,350 30,005 60,051 U7 ,326 9,718 36,251 1^,278 15,912 527,796 Ail other foreign dspo-^its including ' -________ 108, 9 ^ 5 _____ __________ _H§ gr*vc-rnrx»e?.it c r e d i t s Total gross deposits F.R. not38 is actual circulation Jvit* b a n k n o h a s in circulation, liabjlAty Ail otasr liabilities TO-.'-L LIABILITIES \ 180,015 153,267 net , _ Z - _____________ 19 2 ^3 & . 2 ______ 2 7 ? ________ 20_________ 2 _________ 911,480 1 U9 , 772 169,973 100, 329 ’ 96,127 269,742 125,378 730,483 222,SUO 24-9,764 130,770 115,450 391,325 109,188 59,979 127,945 87,171 H I , 558 2 3>230 114^9^1 52,313 105,927 2,348,989 62,192 193,748 2 , 558,196 ^ 21,404 4,079 5,03 1 984 2,871 11,389 3.592 1,550 8,277 3,160 3,258 68,8o4 _ 1J,J81 _ 2,681 3,303.. 2 ,068 1,512 6,430 1,838 l,4 6 l 2,791 -1,495 2,807 47,237 346,695 1,702,117 386,763 436',939 238,308 219,171 690,186 243,781 153,108 254,621 122 , 27s 310,277 5,104,244 3,269 3,470 ^Overdraft~ .r x t r7* r -^ r i Released for publicati.cn Svmday morning November 10, I 9I 8; not earlier. STATEMENT OF 21SliH.lL EE SLRYE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS NOVEMBER 8, 1918. (in thousands of dollars.) Boston PjI ^ E Y E NOTES: E e 0 3 ;v - o :;>a^ C a - p tv oiler Eo va-'-iJod to Carptrcj l e r C h a r g e d le to 1* .E, agent In bandc- ul Y \ V . * Ag'bri; New York Phila. Clevel. Richm. Atlanta Chicago St-Louis St.60c Minn. Kans.Cy. Dallas San Fran Total *PrfT!TC2P/J. I s s-j^d t'j i .,Eo b a r k 2 2 9 •;o?.o ,2 0 b £J7 is! 0 ^ 0 ,996 loss aiuouno r c t u n e d to F*E-Agent for redemption ___ S18.0J3 252,179 260,103 lUo,6qr) 118,727 Hll . 124 11^, gl7 88,563 r o ^ -P'. 62.850 208,797_ 2 .7^3 . 6S6 OOI-L/luJ,RAL S^OURiTY i'OH 0CTCL7:u"L)j;>!^ N O U S : G-ld cv:iu a;.d eor tif '.Cd uG3 0^1 ilc^nCl 5 >OCO Ov i 0 i,\: djr: ct xor1 f-und 10, Pol G-cle /:?:■ : fvJ) -.1, ?\E3eard f-P COO Eiig'.K •0 pa^or. ]T;1 n1 m i repaired \'• JkvCb. »VTO Ur=*-Jl ‘i .^7 b n ” s. ^0 158, 7U0 2, i >o.^n p &4? 15 . 1.16 1 2 . ^ 9 1}S ■<-.50 2, CT 660 ■*' p :r ^C* 077 110|000 , 0U0 )l;-;' 17 u ibn; 7oc kb[ IbO , —i^ 118, coo ).;:••7 7 J J 7 a 4.;-,. bfb). 1 ^ 217 . 1j j . i# 3 _ ?r; 1 *i z V 1 ■ 81!?, 073 2 3 2 . 17° ?br-, 103 j -IQ . ^3r lib. / P 1 in *_i" *> -rnx : -DLL' AAPPR *7./r*'lTTvru jrUaJvi^ vhi. 'l v.J.OP bO -R -A. Jibb 812,372 168,347 152., 253 — — 13 , 10? 10, 081 2 ’,603 0'-JV-^ *T* 7 c 3«!,-.00 *■0,3^ 30 g.S'4 V'i ^0C> _\u7 c c ,_563_ J-I 9 > 1Q8,176 3J12 I S .j S G V} ■ . 7 i H cpO /-Yfp V ,W J; -'.’ 159; 1-9 9 1, 530 S5; 761 2SP. 692 SI, 938 36 . 6 q4 9 0 n9 S3 U6; 529 M E M 0 R A IT D A FEDERAL RESERVE NOTTS OUTSTANDING AND IN ACTUAL CIRCULATION if- IU n c ^ s ctitstanding T\ K- hjld hy bank J .L notes in &«;tual circrlafeion -m Lis d-U-.oomr.ed snd bou.ght U. ih v-t t.2rai sacoJ itiss Mltti i.0JLpcd/**- V/cU’/ cilit^ Digitized \ for FRASER l 6 ?, 8.lU S.1 8, 073 252,179 260,103 ■lUo. 695 1.18, 72? '411 IpJj- U S ?\( gg, 563 1 1 9 .^ 1 62, 850 .208.797 2 . 7*17.686 -i ’i & 2 _____............_ °_3 3 a _J 0 L 3 79 Q, ^ 3 . 27? i q > ~o____£jQ£3___ I J & L ___X-5:'£_____ 6>>g ..J 153,267 730, s’83 222, sUo 2^ 9, 7 64 130, 770 j.lp, '*50 391 , 3 £S 109,188 8 / f 17-1 -U-l,9^8 62,39.-: 193.748 2,558, \°6 D'CSTRI3UTIOF OF BILLS, U. S-GOYERMOTT SHORT-TEIK Within 15 days, lu to 30 days 51 to 60 days 1,35^.520 1/6,019 304,6.15 15,701 10.1 10 , oS’4 7 — ^3 SECURITIES AND HaBRAFi'S BY MATURITIES. Over 90 d?ys Total y L % S73 16,835 2, 171,760 3,557 61,915 91,’ 956 — ^ 2S 6l to 40 days Relaased for publication Sunday morning November 10 1> 1912* not earlier. ^ ^ St STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER SELECTED CITIES AS AT CLOSE OF BUSINESS NOVEMBER 1 , I 9IS. (in thousands of dollars,.) Data for all reporting banks in each district._____ __ , , No. reporting banks U.S.bonds to secure circulation Other U.S- bonds including Boston 44 14,402 New York 104 49,950 Phila. 53 11,492 Clevel. Richm. Atlanta Chicago St.Louis S5 SI 44 101 32 42,773 24,253 15,065 IS, 876 17,671 * * 60d Minn. Kans.Cy. Dallas San Fran. 35 73 45 53 6,369 13,710 IS ISO 34 505 Total 75O 267 , 246 Liberty bonds 28,817 386,815 79,992 117,27 1 50,649 44,290 144,545 37,097 11,757 26,384 21 , 73 s '31,562 920,917 U.S.certificates of indebtedness 77,311 3^6,155 54,700 64,426 3^,51^ 42,332 91,758 30,132 17,150 37,748 14,546 68,126 898,904 lotai U .S. securities 120,530 50 2,520 i46,is4 224,470 109,416 101,693 255,179 84,900 35,276 77 , S42 54,464 134,193 2, 147,067 Loans secured by U .S. bonds, etc. 116,826 670, 417152,563 82,129 3 2,569 20,668 101,559 20,445 10,37 2 9,130 7,419 12,629 1.242,726 All other^loans cc investments 784,349 4 , 202,156 64o,S73 JWE&2 9 0 J S 7,257 312,240 1, 438,33 2 387, 6o4 275,501 466,567 1G7,325 550,450 1C'. 65c, 5o4 Reserve with F.R. bank 66,73 2 606,842 57,075 20,362 30,725 29,S6l l4l,673 33,684 22,884 40,212 15,608 48,682 1, 174,340 Cash in vault 27^55 123,875 20,004 35,481 17,364 J7/156 5^,565 12,202 9,994 16 , SOI 12,088 21,263 372,248 Net demand deposits 682,006 4,397,744 598,326 725,890 308,946 214,746 1,045,085 250,888 210,66/ 356,563 144,011 4l4 , 470 9 , 349,342 Tame deposits 94,580 260,307 15,214 257,677 57,762 92,908 364,638 73,493 45305 59.491 24,881 121,808 1,468,664 _ __i53,24o 520, 223160 , 3 7 7 1 1 2 , 79s 38,864 39,022 106,574 47,827 13,753 45,117 21,339 27 , 2 7 1 1 , 236,455 Data for banks in each central reserve city, banks in all other reserve cities, and other reporting banks. New York Chicago St.Louis Total Cen.Res.Cities Reserve Cities Country Nov. 1--Oct.25 Nov. 1 Nov. 1 Nov. 1-- Oct.25 Nov. Nov. 1-— No. reporting banks y0 70 44 l4 12 8 128 452 452 170 170 U*S* bonds to secure circulary Ul • 1 I 0 0 -P'ct- 2. 36,51S 36,728 1,119 10,556 its,193 u , Lsbe2 t i f i c a t e s of indebt- 326»121 336,351 91,169 27,425 fkiess Total u. s. securities Loans secured by U-S- bonds, 347,423 710,062 366,066 33,641 739,145 125,929 ®tc< All other loans and invest„ m3nts Reserve with F. R. bank 622,535 579, 62s 79,779 t\°n Ctner U. S. bonds including > 110' 551 Net danand daposits 4,087,003 Time deposits ^ 209,144 Govermen* deposits 462,902 Ratio of war paper to total loans & investments, per cent 25-0 \ 687,502 99,468 18.7 750 170,719 170,773 48,334 ^s,33U U s, 33^ 48,334 z&7,zk6 267,246 267,510 444,715' 458,917 445,970 46s, 234 468,234 90,232 ,282 90,232 91 91,288 980,917 920,917 1 , 018,439 23,391 6l,372 4o4 , 455 897,363 429,253 420,275 444,265 74,174 75,913 936,573 1,036,964 l,OS3,272 1 , 023,272 212,740 2l5,535 215,535 15,182 717,496 656,664 25,457 707,375 823,922 , 116,719 33,670 6,377 150,598 152 , 45s 4 ,is i,io o 709,063 178,107 4, 974,173 5 , 103,791 205,034 130,71753,415 393,276 398,519 225,400 S3,Sl4 38,934 585,650 281,980 24.7 Oct. 25 170 170 Total Nov. 1-— 750 750 48,403 445, 101 3 , 352, 50 53 , 371,086 893,493 280,369 5 , 032,367 5 ,o 4i , 34i 522,450 banks 18.5 23-6 23«3 77,414 63,973 898,904 949,431 S98,904 2 , 147,067 2,235,380 2,147,067 1,242,726 4 , 707,432 834,257 480,909 131)700 182,449 is2; ^ 9 3 , 679,070 3,7^5,107 3,7^5,107 875,443 844,596 844,596 6l0,9l6 3 98,876 398,876 21.0 21.8 21.8 226,412 10 , 650,984 1 ________ , . __ 5 6 ,S73 1 , 174,340 55,583 ____ 3 9 ,'950 41,695 6 )6 9 5 * ’ 372)248 372,248 * ’ 382)602 39,950 696,099 685,116 685,116 9,9,349,342 349,342 9,533 914 696,099 199,945 195,834 195,834 1,468,664 1,468,664 1 , 438,992 199,945 89,899 86,982 1,286,465 767,838 29,899 86,982 1,286,465 21.5 21.5 19-8 19.8 2?-2 22.2 22.^ Beleassd for publication Sunday morning 17, 19.1S; not'eariier. , STATEMENT POE THE PRESS. g f.? ! November 16, 1918, *' Farther increases in the holdings of war paper, practically offset by decreases in other discounts on hand, also considerable gains in government deposits acccm panied by a larger decline in members* reserve deposits are indicated in the Federal Reserve Board’ s weekly bank, statement issued as at. close of business on November 15, 191S. INVESTMENTS: Holdings of war paper, i . e ., discounted bills secured by U.S. war obligations, show an increase for the week of Ul.6 millions and constitute at present 59.1 por cent of the Reserve banks' total earning assets, compared with 57 per cent the week before. Other discounted bills on hand decreased about Hi millions while holdings of bills purchased in open market went up 3 millions and of Govern ment short term securities - 1 . 5 millions. Total earning assets increased about 5 ’^ millions for the week. . ^POSITS: Government deposits show considerable increases in the U Eastern tanks, with a total gain for the week of 86.1 millions. Almost corresponding de creases at these banks are shown in members' reserve deposits, the total decline for the week being 96 millions. Net deposits show an increase of H .2 millionsRESERVES' Gold reserves increased during the week about 10.2 millions, while total cash reserves went up 9 millions. The banks' reserve percentage shows a slight rise from 1+9,8 to ^9*9 Per cent. NOTE CIRCULATION: Federal Reserve Agents report the issue during the weak of . *8.1 millions net cf notes. The banks show an actual circulation of 2,562.5 mil lions of F.R. notes, an increase of k.} millions for the week, besides aggregate liabilities of 72*9 millions, as against 68.9 millions the week before, on F.R«bank notes in circulation. CAPITAL: An increase of $79,000 in the total of paid-in capital is due in part to admission of new members, also to increases' in capital or surplus by members of the system. Increases under this head are shown by all the banks except those at Boston and St. Louis. CONDITION OF MEMBER BANKS, NOVEMBER 8, I 9IS. Substantial withdrawals of Government deposits and somewhat smaller increases in other demand deposits, also reduction in some volume of the bank holdings of U.S. securities are indicated by the weekly statement of condition on November 8 of 751 member banks in leading cities. Treasury certificates on hand show a decline of about 12*3 millions, indicating that the bulk of the 75^ million certificate issue due on November J had been de livered by subscribing banks in payment.for Liberty bonds. At the central reserve cities the increase in the certificate holdings is apparently due to a large extent to investment by these banks in the most recent issue of per cent tax certifi cates. U.S. bonds other than circulation bonds show a reduction of 62.9 millions, of which 23*3 millions represents the decrease in the holdings of the central re serve city banks. Loans secured by U.S. war obligations fell off U3 .7 millions at all reporting banks, and 50*6 millions at the banks in the central reserve cities. All other loans and investments show a decline of 2 8 .U millions, notwithstanding a gain of about U6 millions in this item reported by the Greater New York banks. The ratio of U.S. war securities and loans supported by such eosiiritiaa:to total loams and investments declined from 22.2 to 21.6 per cent for all reporting banks and fran 23.6 to 23 per cent for the banks in the central reserve cities. The week witnessed the net withdrawal of 2 3 9 millions of Government deposits, 7 O .9 millions representing withdrawals from central reserve city banks. These with drawals are accompanied by an increase of 173*5 millions in net demand deposits of all reporting banks, and of 88.5 millions in the net deposits of the central reserve oity banks. Time deposits declined 18.7 millions. Reserve balances with the Fed eral Reserve Banks increased 92*8 million^, and cash in vault - 10.2 millions. For all reporting banks the ratio of deposits to investments, because of the relatively larger decrease in investments rose from 7S .9 to 7 9 '2 per cent. For the central reserve city banks this ratio shows an increase frcrn 85 to 85 "per cant. The ratio of combined cash and reserve balances to deposits went up from lU to 15 per cent for all reporting banks and from 15*2 to l6 per cent for-the central reserve city banks. "Excess reserves" of all reporting banks increased from 67*2 to lUl.2 millions. For the banks in the central reserve cities an increase of this item fran ^ 8.9 to 7 S .9 millions is noted. Released for publication Sunday morning November 17, 1918 ; not earlierSTATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE November 15> 191S R E S O U R C E S Gold in vacult and in transit $375 , 527,000 Gold settlement f-und, F- R. Board *+33 ,885,000 Gold with foreign agencies ____ 5. ,829 ,000 815 ,21+1,000 Total gold held by banks -1,166 , 579,000 Gold with Federal Reserve Agents Gold redemption fund J 2,056,777,000 Total gold reserves 55,059 .000 Legal tender notes, silver, etc. 2,105,816,000 Total reserves Bills difieounted: Secured by Govt .war obligations 1,358,558.000 « a n All other 377.877,000 Bills bought in open market 2,175,685,000 Total 'bills on hand 29 ,.4 ys,co0 U -S * Gover»iiiant long-term securities 93 ,1+liy ,000 U .S . Government short-term securities 28,000 All c oner earning 3.s se vs 2 , 298 , 6 ^ 0^000 TotaJ earning assays 7 17 ,7 ? 5 ;000 Uncollected items (deduct from gross deposits) 4 ,00o ,000 5fo Redemption fund against F-R. "bank notes 18,169 -000 All other resources 5,1^8,^3.8,000 TO^AL RESOURCES L I A B I L I T I E S Capital paid in Surplus Gove^nriient deposits Due <-o members, reserve account Col?, act ion items Other deposits, including foreign govt- credits Total gross deposits F. R. notes in actual cii^eulation F* R* bank notes in circulation - net liability All other liabilities TCTa L LIABILITIES Ratio of total reserves to net deposit and F - Rnote liabilities combined Eauio of geld reserves to F..R- notes in actual circulation after setting aside 35$ against net deposit liabilities S fc.j BANKS AT CLOSE OF BUSINESS NOVMBER 1 5 , 19 .1 s. November l6, 1917 November 8 1918 $526,792,000 $386,1+37,000 363 , 710,000 1+35 ,1+52,000 52 . 500.000 ____ 515 2 9 .coo 9U3 ,002,000 827 ,718,000 629, 906,000 i,ii+5,6i+o,ooo ___ 1 1 .1+20 .000 73.233.000 1,584,322,000 2 , 01+6 , 591,000 Ej2.5?5.000 r)U ,248. 000 — 2 , 100, 839,000 1 , 636, 853,000 1 , 316 .967,000 jl+87,850,000 , 1+8 0 ,271,000 5 ?4. 522.000 2 ,1 7 1 , 760,000 25 ,1[75,000 9-! .-000 2" 000 2 , 295, 223 , 0C0 687,'-'68 -000 3 , 924,000 18 .790 >000 5,104,244,000 79,824,000 1 , 131+,000 75 , 903,000 1,131+,000 246.401.000 1 ^ 9 ,9 1 + 9 ,0 0 0 573.727.000 113 .385.000 5 9 - 6 $ 66 . 691.000 6s,s6U,ooo 4 7 .257,000 5 ,1 04 ,24 4 s000 1+9 .8$ 65.8$ 527,796;000 lllJ ' Ql+1,000 1+9.9$ 537,000 3 .7 36,000 3 .012 .406.000 218.387.000 1.480.498.000 240.4.37.000 21.925.000 1.961.747.000 972,58^,000 8,000,000 3 .585 .000 3.012.406.000 160 , 256,000 l , 5 ^ 5 > 5 9 6 ,000 .2,383,1+62.-000 2 . 562. 517.000 72 , 930,000 1+8.1+72 .000 5.145.415.000 195-8 69.000 6Sx, 71'J ,000 54 , 002,000 187 ,904 000 1 /c'l7, \ooo 524 . 858.000 446,382^000 2 , 31+8 , 989,000 2 , 558 , 196,000 59 ‘ l Released for p-uol ieation Sunday uorning November 17, 1918; not earlier. St.71b WEEKLY STATEMENT OF EE SOURCES AND LIABILITIES OF EACH OF THE lETSRAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 15 , I 9.IS (In thousands of dollars.) RE S O U R C E S Boston New York Phila. Cleve3. Ri-tei- Atlanta CMaa/ro St. Louis Minn. ’Kans.Cy. Dallas San Fran. Total Geld in vault and in transit 3,773 277.615 US £6 , £4-2 6,278 7. 515 2» 111 8,3^5 ,165 2,115 10,581 375,527 . Gold settlement fund, 36,818 46*075 47,321 9 ; y+i 15 , 6x5 111,469 29,236 27,691 18,938 12 ,823 3b,74S 1+33,885 41,-187 j’tGold with foreign agencies 4os 40S 131 J-L011 ?oH _aa_. ,0 13,394 10j4 sQM- 2i ,'^ 2 ^ 6 so *-i;; 815,241 Total gold held by banks 45,374 316,444 46,6oU 74,0813 16,4-23 23,303 136,380 3 -',ao 0 ‘.'■J 56,24-9 — Gold with Federal Reserve Agents Hb 1 •:73 5 66,878 282,983 80,314 151 , 4 ^ 60. 'jz-) 44,924 x Q / S 12 46. >73 / 7 ;'^ 4/ /hSJ 24 .102 106*037 1 , 16b, 579 , i f 2 4-7 5/ ? X ■ z .' Gold redemption fund J1 > 7.1..._ —6^271____ 2.4,392 7,700 i 21 7 __ 5 (133__ J.'is_______________1^312____I9x _______________2 J J & ______Iris1 7 ,3 2 — 1 Total gold reserves , -.jU.Qij 2 , 05 b ,777 i.69 US, ‘ " j J. ilcO, J. . ,J os618 3) , 581 717 82, il70 ? 2 ,; 70 3 - 5 ,^ 5 4b_ ___ 225 S3.039 Legs.i t321.der r-.cte JrS_7 __ 7.!' / L_ __ 2 , o 63_ f a> 1( '.•>j7i ;-V "1 " ‘ 7; i o;a*^ r 3S?rV2S 1 2 ’.. ISo _s7 «Cq ~7~, — i 5s'^ -l?7.; ?'-Vi! ? "3 rv15- 24c®^ic9,8i6@\ r<V. * ? \. I r>,r"*7 13 . o C 7 f ^ ^ d $ , y j S '& e b \£Go i...? :;03 31,057 Bill b ) VJ *• ooG i ( j 134 *813 31, ' V? 133, K ’3 7 Uo 23, 7h |-frf, '42'^r 43 9, C}0-J 37 905 t J order D- ciH id. rrtT^s 36 53a 3 1. b;;o 24 239 25,019 11.472 J J C!i l i r )f y B i l l c* T)on "hi/ in o~ 7 225 377. S77 JL6£,.$3 S.._ 3 3 . .23 ?_.. 3-!.7i ___ -S— 1r— ao 1 . * ! Tc- >p2 >;I l l s 0:1 j 1 1S ' 6?5 &yi '7 o / i vl:;t , 0?Q 23/. 99 lfl, 4 ■; •■'Vs, 00s z 1 ;x i C3S ) •*'’ r u .. S , G-o v :i.rcnt J.o: 478 i:6 i 126 £ 3.57 52f.i 4 , 003 .; J 4 , ^no 1 0 < ' i6 U .S. r- t ' 2 i TrliC'P’t s: =' R 021 070 449 733 2, l, 902 3 j,372 10; 612 -* f425 2S ey earn-Uig AIx 0 v_ _CC-;s r'>;;; O lt P q O 00 QO "470' .194 T o til 6 arnins a '100; , 603 516” 164740T S'20 272, giTs" , S?2 125, 160, 352"7 7 7 , 51; *> 3 U n c o *1 *; C 3ed itras (deduct from ' o p o s i is.) f c ."‘if"'62,061 357 56, 39;,710 86, 681 64, 93 S 15, 541 69;,580 22, 703 33 , 871 u ,t c ia * t * hi-_ p. ■ -I 54 0 88 442 221 e c~* 2U1 207 4,008 156 TSb 2? 8 175 1,179 275 n f, ^ 0 1 q •i 3. 16 3: ’ 1. 520 I 1, _4Jv:.2___ A l l rfv/r'rr‘ r0303;r*C(e s _j . 7',V. s _2.:l 3~£.7i ri __ 1 . r a . r •;i1 rr.O'Tii KESOlrj^E' " 3 r ^ . V 1 ' < ; ’ ; 1 1 ' 24 r ) T 23 , 70s; b /! 0 032 343,345 476, 049 157, y 1 *• ; *- J — >39 315’, 6? 7 "il3 , Li a . £ Z (—U r.xo % ■'.Ur> , Si J'- i t —1 iT\ L I A B i L I T T E S C ap!tal paid-in n_. OL U.j> *,v_ii Go verm^n & dep osi t s net A ll in a o i a a i ci r e a l a t i o n l ln s i'l it ie s TCTJJj LIABILITIES . 182,605 152,380 20,725 649 .4s, 756 5 ^ 7 319 153,385 7,398 8,881 26,726 24,892 74^31.6 113,'152 64, 43$ l^ o S o 4,0^4 1]6 1.3,922 50’ f?3 41,329 3,174 11,091 3 , 7 S5 4o216 24.033 7,198 17,4-58 3 3. 2",:J 2n'4Jr'^,2 51,61.5 26,432 (3,44-2 49,003 17 1.5':-6 10?;053 217 915,713 1?5,978 ISO, 140 lOo,040 8S f1 W 'd t ( Y L s 1 1 8 . 2 9 3 7 23,355 223,022 248,204 132,122 H o , 9:,0 396 231 3.11,636 2,911 3s 7.430 46’ 057 11,334 1! 3,^32 3,123 4,54o 79,903 -* 17,843 8.347 4 , 4.18 246.4oi S5-!l0? 32,337 • 81,057 3,449,949 33,408 i4,o65 19,109 573,727 20 3.479 113.3jZD i i 6 , 6 & 6 . 5 4 ,7 *6*9 "los. 0 6 3 " 2 ,3 S 5".4o2 sr..1.31 111’ t53 61,063 196.210 2,562^517* O T s y S circulation, liability other 87,93-9 49,724 C.CCattS grc?;fi depos-. Us I ’» E , l a : ± no^e-3 i n 6,599 45.372 foreign go.’? F*R~notos J-O 75 Due to cambers, reserve account Collection i veji& A ll other deposvi ts including Pn 21, 6.15 4,557 5,475 1,162 2, £78 12,866 4,292 1,580 8,479 3,149 3,363 72,930 3,514 _________1 . 57.1 6,35 ___1, 3 0 1.4/8 2, Sfrl____l ._535___2, Sj-/____ 4 s, 472 IS. 126 2 ,7 63 3 ,34q 2jf> 3.573 3% ; 34^ 1 , 69^933 405,718~ W To49 2^5,637 2 1 3 7 3 ^ * 7 0 ^ 5 5 9 239,s76 1 5 7 ^ 9 7 4 : ^ ^ 1 123*,63S 3 i5,032'5,i^8V 4is J J x r St// 1c Released.for publication Sunday morning November 17, 1918; not earlier. STATEMENT OF FEDERAL RESERVE AGENTS’ ACCOUNTS AT CLOSE OF BUSINESS NOVEMBER 15, 19IS. (In thousands of dollars.) Boston FEDERAL RESERVE NOTES: Received from Comptroller Returned to Comptroller Chargeable to F.R. Agent In haitds of F. R- Agent Issued to F.R. bank less amount returned to F. R. Agent for • redemption COLLATERAL SECURITY FOR GUl’SmTDING NOTES: Gold coin and certificates on hand Gold redemption fund Gold S?ttleraent Fund, F.R-Board Eligible paper, minimum required To^ al New York Phila. Clevel. Richm. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total 229,020 1 , 189,44o 309,780 300, 4oo 182,580 183, 6U0 497,060 1 ^ 9,800 112 , Ugo 150,700 99,920 224,320 3 ,6 2 9 ,l4 0 43.589 259.843 54.718__ 2S.074_ 32.1^2 2Ui_060_ J 8 . 2 2 , 9 ? . 5 __ lY.Upg 23.082 1 9 , ___ 3.5,759 580,183 185, U31 929,597 255,062 272,326 ‘150,43 s 159/530 U58,216 126, 8?5 95>072 127 , 61 s 8O J .75 208, 564. 3 , 048,957 17.500 167,93 1 104,800 21.900 12. 820 8.500 39.350 Up. 2^0 9,085 824,797 23.3,162 _??)%506.Jl^l._93S_lgQ. 2303 17 9/6 137.790 6.750 8,420 17,780. 88.328 119.198 _________28.7_.145 62,395 208,561 2,761,812 210,176 10.081 13,102 2,503 20,750 15s,? 4o 9,878 l 4 , 2U3 12,793 12,73^ 2,089 -2,251 1,518 2,542 2, 8/ 0 2, b2l 3,337 11,476 78,352 52,000 110,000 6 7,5 2 1 1 1 8 ,0 0 0 58,000 *10,170 196,32U ^3,631 41,800 45,360 10,684 94,561 878,051 101,0535 4 i. 814 152.848 108,022______ Si, 3 4 - } _ ;so5 220.134 71 ,6 17 3 0 . 556 71,217__lS.29U - 02i.52JLL525i£ EL 167.931 824",797 233.~l62 259,506 liL^ 9?H A ^ ^ 2 3 0 j n 7 ij 7 6 317.796 _88 J 28 119,1.98 62,3 9 5 ,20g.u5£l_2.761. 812 5,000 mor.:H OF ELIGIBLE PAPER D^L.lTEREI) TO F- R- AGENT__________ 158.203 841,930 177.074 151.185 9S.4qi_ £ 2, !.^ £ J ^ 7 JL4g 74. S?4_ 38. n p _ S9^ 0 9 _4f^565 106, 218 2,120, 2g£. M E M O R A N D A FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. F. R^ Notes outstanding 7. R* notes held by bank F-R.notes in actual circulation Bills discounted and bought TJ S* Govarnrrsnt snort-tsrxn securities Municipal variants 167,931 3.4.951 152,980 824,797 233,162 259,506 141,938 120,230 417 , 976 .117,790 88,328 119,198 101.442 g[ 1.40 31.302 9. 83.6 3.320 21.745 6,154___ 1,197 7 <545 723,355 225,022 248,204 132,122 116,910 396,231 111,636 87,131 111,653 62,395 208,561 2,761,812 1 ,3 ? 2 _ 1^ 3 51 ___ 192*22561,063 196,210 2 , 562,517 DISTRIBUTION OF BILLS, U .S . GOVEENI/DENT SHORT-TERM SECURITIES AND WARRANTS BT MATURITIES. Within 15 days .16 to 30 days 31 to 60 days 6l to 90 days Over 90 days 1 , 353,310 168,765 301,760 334,095 17,755 18,481 73 9,132 2,194 63,569 7 15 6 Total 2,175,685 93,449 28 ?i d R e l e a s e d fcr p u b l i c a t i o n S u n d a y m o r n i n g N o v e m b e r 17, 1 9 1 8 ; n o t e a r l i e r . STATEMENT SH O W I N G - P R I N C I P A L R E S O U R C E A N D L I A B I L I T Y I T E M 8 O F i m J Z E m CITIES AS AT CLOSE BANKS OE BUSINESS LOCATED NOVEMBER S, IN C E N T R A L RESERVE, ^ RESERVE . AND OTHER lMT^ SELECTED 1913. (in thousands of dollars-) 1» Data for all reporting banks in each district Boston r ;0^ o, » u. I,c A 1 '* d / j a r Ht- oO'C’v o r\- 1 -/cns vviih V. and L a t a for 81 45 14,402 50,311 11,492 42,832 24, 253 15,465 23,824 372,408 69,823 106,434 49,169 39,042 8?-, 277 121 30"; 398,079 47 ,015 82w.. 1^6 3 28. 330 164*3 69 62 , io4 31,105 211,370 io4 527 81,039 37 ,*4?3 36.176 90.683 21 , 0 V: 6 27.;33-7 9 7 7 ; 578 3 9 1 ,8 1 4 ft. b a n k La n lc s in UC;H 72 ,35 3 t>44} 0 0 0 21; 151,7->9 140. 2'~)& 27.5 35 73 . ^5 . Total 53 7 51 3 8 J .8 8 I 21,637 each central 1^4 iOJ .4-95 reserve city, Nov* o-— Nov* 1 •oanKis U.S.. bondo to ’secure circulati-'n Other U .S . hoods including L? h e r irV b o/ ids U -S..certificates of indebtediyo * r e p o n . m g ne 33 ^etal U..S- securities Leario secured by *0,, £ abends, etc . A.lI other loans & investments 3 Reserve with F<* R<- bank Cash in vault Net demand deposits 4 banks in all Chicago Nov. G-overrs^eiit- ueposi ts Ratio ox war 'oaper to total loans & inv;;s c e n t s , per cent other St.Louis Nov. 2 reserve Total cities, and other Cen.Res.Cities Nov* 2 --- N o v - I reporting Reserve Cities banks Country Nov. 8— -Nov. 1 Total banks Nov. S-Nov. 1 751 751 -Ntftf. 1 170 Nov- .v l4 128 128 ' 453 453 170 36,879 10,555 48,553 48 ,3 93 171, 205 171,119 48.319 48,334 268,077 267,646 314,306 25,927 421,3^5 444,715 4io, 794 447,013 80,879 90,232 919 ; 05 S 981,960 380,88*5 732 067 572. 935 23,043 5/,525 16 , 7?3 436,237 906,175 4 o 4,455 29 i -j''jj >-'20, ^7 5 64.847 '74,174039! if07 200i<Vo z i^ T ^ O u*b .->/ ;7J 7r: i^ r 2 ^ ni if* i.pU '* 827.253 2, 074. 353 1 " ? icq ‘ ry . 1J 'zop '' 2b,337 6,757 742. 253 53,5-19 26,293 402,899 514,784 393,276 535,650 i s .3 23 .0 23-6 70 70 44 717/196 666,910 275.^26 5 , 062, % o 5 ,032 .367 707 ,3 ;'5 1 ro KQf? 160,247 182,281 5 , 062,628 4 , 9 f M 7 3 depocp.t^ 3 3 7 . 4^6 J , 4 ^ 3 , 32 Dallas San.Fran 62^.529 4 , 463,905 625,570 ? g , 5yS 253,^0 26,359 Ycr i Time 101 85 .ooi?as, e t c -. xliH Go?*-r:3;'yr i d ‘.';o?it.p. 2* Chicago St-Louis Minn. Kans-Cy- 53 i n v e s t m e n t s /85. 4 0 5 4, 242. je.'os: ts , ue.:'0i,to Atlanta d e v e l. Ri chm. io4 '.vi vavi", R-t Phila. 44 No* reporting-banks U .S . bonds to secure circula tion Other U.S*bonds including Liberty bends U*S.-uertifjCettes of indebtedtTt^ York New 24.4 25.0 17-9 7 <Z% > ’>169 969 fiGs 456 . -«■ > 4,697. 459. 008 120 ^ 82 3 , 7 / 5 ' 380 1 m3 45 s; 4 /2 20.5 # - - \ \ . ^ . ^ .y ~ 696,099 ____ ~ -n ... ? i 19.8 21-5 ^ «' * - ss' 9 , 528, (320 9 , 3> •, 5iS IS9 . ' • 1 , 4 5 0 895 89*S99 1 , 047,074 21-0 299,6c4 2 / :' S ; 2,0 \“5 pJ** . nS7 v ^• 21-6 576 1 , 226,465 22.;