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Released for publication Sunday morning September 30) n °t earlier. a Ui 3 STATEMENT FOR THE PRESS. September 29 , 1917* The Federal Reserve Board made public today its weekly statement showing condition of the Federal Reserve banks as at close of business on September 28, except of-the San Francisco Bank* For the latter fig ures of the week before are given, no telegraphic data for September 28 having been received by the Board in time to be consolidated with the figures for the other banks. Higher money rates prevailing during the week apparently caused a larger demand for accommodation at the New York Bank, which reports large increases in member bank*s collateral notes on hand secured mainly by Liberty Loan bonds and United States Certificates of indebtedness, be sides considerable purchases of acceptances in the open market, The Bank disbursed during the week 112,5 millions of funds advanced to the Allied Governments, *40 millions going to the French, 35 millionsto the British, 15 millions each to the Italian and Russian Governments and 7*5 millions to the Belgian Government, These operations called for h e a v y withdrawals of funds from local depositary institutions in addition to transfers to New York in some volume from other Reserve banks. The Bank reports a de crease of 1+9,6 ittillions in total reserves together with increases of 62 millions in total investments, of 5 millions in net deposits and of 7*3 millions in note circulation. A decrease of about 24 millions is shown in the banks* combined de posit reserves. Aggregate note reserves increased about 19.6 millions during the week, while total cash reserves show a decline of 4 .4 millions. Of the total of 29*1 millions of Federal Reserve notes placed in circu lation during the week, 19*2 millions are secured by gold, the remainder having been issued against commercial paper. As a result the banks1 note reserve shows a decline from 81*4 to 8 0 .S per cent. Their deposit reserve shows an even larger decline from 7^.6 to 7^-5 Per cent. Discounted paper on hand shows an increase for the week of 49*6 mil lions, practically all at the New York Bank. Of the total d i s c o u n t s , over one-half, or 122*5 millions, is represented by member banks’ collateral notes, About 64,7 millions of these notes had as their collateral Liberty Loan bonds or United States certificates. Large open-market purchases Dy the Boston and New York Banks are mainly responsible for the increase 0115,7 .. ' millions in the amount of acceptances on hand. No substantial changes m other investments are shown. Total earning asset-; increased 65*3 millions for the week and consti tute at present 851 per cent of the bankls paid-in capital, compared with per cent shown the week before. Of the total, discounts constitu e 46*2 per cent, acceptances 3 5 Per anc^ United States s e c u r i t i e s 7 U1 18.8 per cent. *f l owing to the heavy withdrawals of Government funds from deposi ^ y banks, Government deposits show an increase of 38*6 millions, the ew or and Chicago Banks reporting the largest gains for the week. Mem er a reserve deposits fell off l 4.2 millions, while non-member banks clearing deposits gained 15*9 millions. Nearly all the larger local State banics and trust companies, not in the system, have opened clearing accoun s the New York Reserve Bank, _ , , r. Federal Reserve agents report a total of $754,088,000 0 oco berve notes outstanding, secured by $555>239>000 g an v 1 v of paper. All the banks report additional issues of notes during the weOr. Federal Reserve notes in actual circulation total <699,31(3,000 again $67 0 , 2U6 ,000 the week b ef or e . Released for publication Sunday morning September 30, 19'lf • Not- sarli-r. X4l3a STATEMENT OF COMBINED RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 28, 1917 . R E S O U R C E S (k) September 28, 1917 September 21, 1917September 29 , 1916 . Gold coin and certificates in vault .............................. $443,162,000 Gold settlement fund ........................................................ 338,027,000 Gold with foreign agencies ........................ .................... 000 Total gold held by "banks ........................................ 833,689,000 Gold with Federal Reserve Agents .............................. . 555,239,000 Gold redemption f u n d ........................................................ ,?.>8<” , Q00 Totalgold reserve ................................................... 1,398,737,000 al tender notes, silver, etc...................................... . 49,084,000 Total reserves ...........-............................................. 1,447,821,000 Bills discounted — Memhers ................................. . 233,335,000 Bills "bought in open market . . ..................................... . 176,756,000 Total bills on h a n d ................................................. 410,091,000 U. S. Government long-term securities .........................* 55,179,000 U* S. Government short-term securities ................... . . . 39,771,000 Municipal warrants ........... * .............................................. — Total earning assets ............................................... 505,265,000 7,933,000 Due from other F* R» Banks — Net ................................... Uncollected items *.............. . 2321849,000 Total deductions from gross deposits ................... 240,788,000 5$ redemption fund against F. R. bank n o te s ................ 500,000 _ Ail _other resources .............. ......................................... 423,000 TOTAL RESOURCES 2,194,791,000 I A B I L I T I E S ® £ it a l paid i n ........................................ ....................... 59,379,000 Government deposits ........................................................* 63,651,000 Dae to members - reserve account ................................... 1,137,491,000 Due to nen-member banks - clearing account .................. 66,657,000 Member bank deposits - Net ................................. . ... Collection items ............................................................... 157 >364.000 Total gross deposits ....................... .............. . 1,425,163,000 F. R. Uotes in actual circulation............................. 699,343,000 F. R. Banknotes in circulation, net liability ........... 8,000,000 All other liabilities including foreign Govt, credits. 2r50ft.QQ0 ‘ TOTAL LIABILITIES _ 2,194,791,000 Gold reserve against net dep0Q|^.^|j|j(^ities .......... 70.3$ Gold and lawful money reserve &ga.inB% n e t deposit liab's 74.5$ -Gold .reserve against F. R» notes in actual circulation 80.8$ (a) Corrected figures (b) Figures for San Francisco as of September 21. http://fraser.stlouisfed.org/ t Federal Reserve Bank of St. Louis $^30,979,000 -■...-3 7 3 , 3557,000 -5pji5PO,,000 856 , 866,000 536,009,000 -<L.lf e p O P . , 1,1*02,317,000 ___ U9 1 ^,tPPP, 1,1*52,251,000 9 3 183,758,000 l 6l , 012,000 3 ^ ,7 7 0 ,0 0 0 53,929,000 14-1,070,000 ____ 21^000 *+39,983,000 (a) 2,247,000 (a) £36,794,000 239,041,000 500,000 4o4,000 2,132,179,000 59,35^,000 25,030,000 1,151,704,000 ... l64, 449 .000 1,391,962,000 670,246,000 8,000,000 2,617,000 2,132,179,000 74-3$ 7 8 . 6/S 81.4$ $260,81+5,000 12U,U2l,000 --- ^ -385,266,000 197,572,000 ..USfLfiPQ 58^,767,000 — i.QQQ 592,578,000 25,953,000 .*.6?5x629 106,578,000 4 6 ,5 ^ ,0 0 0 6,927,000 _2.!j:xP28.L0p0 lgl+,077,000 31,365,000 ..., „ ,♦ 31,365 ,000 500,000 7»543.OOP 816,063,000 55,393,000 38,985,000 ... 5°,779,00° 521,7^0,000 _____»»»_____ 560,725,000 196,538,000 3,033,000 374.000 8l 6 ,063,000 72.8$ 7^-3$ lOl.§$ j ~S leased for publication S-cnd-u.-; mor-: ^rT...,Tr^ v qr0p T>T'C'T r e e so u rc .es Boston 0. iO 25,032 63,632 17 1+36 69,191 ii;i7 * ? ^ACT; ’ nt earlier. OF / F ^ r TT°AT. V , T r ^ V ^ "?A ‘::'OS A T (In thousands oj: i o ^ j a r s ) Phila. Cleveland Richm. Atlanta GVJS O OF B U S I 01 !■; 17 • Kans. C] J-'xA. J— L c-i St. Louis . ..inn. Chicago JLJ SEPTR-'.BT3-: 28 Sept. 21. S. Oran. Total ll+,322 19,812 1 7 , 41+2 8,011 : 12,510 41+3,162 18,736 26,831 6,256 6 , 19 s' 40,854 33,337 £ id coin and certificates in vault 338,027 i +,845 38,573 36,586 40,119 26,578 2,055 54.3S3 19,490 8 , 9 5 9 , Id settlement fund 2,888 52,500 1,838 2.100 2,625 3,675 4,725 1,837 1,575 7,350 2^100 3,675 18,112 Id with foreign agencies 37,022 " 833 , 689" 1+9,209 28,501 19,193 9,829 102,527 24,927 4 6 , 1U3 350,935 53,997 71,675 34,671 Total gold hold by banks 22 1+71 20,748 23,591 555,239 21,965 88,537 17,270 25,623 212,300 40,418 36,244 15,955 30,117 ild with Federal Reserve Agents 15 9,809 518 828 611 290 M l 50 c 4 ,000 950 _5IX _ZSL _4l >ld Redemption Fund 60,628 1 3 9 2 , 7 3 7 42,352 72 , 2 66567 , 2 3 5 1 0 0 , 365107,952 51,413 40,557 191,414 42,770 51,294 70,475 Total gold reserves 49,084 93 ...... 5 1 1 1+.185 39,681 1.104 316 127 364 1,029 1,221_______________ 342______ ig ^^e n d e r notes, silver, etc. 60,721 1 ,447,821 42,932 76,451 606,916 101,469 108,278 51,540 40,921 192, 41+3 43,991 51,641 70,512 Toral reserves 9,6 l4 8,298 233,335 15,214 75,619 11,120 10,616 15,696 8 ,344 33,243 16,827 10,289 17,255 fils discoimted - Members 9 , 01s 176,756 4,3.13, ......... 4,569, 22.666 72,534 16,905 22,383 3,486 1,872 1 0,912 4,820 3 ,2 1 8 ----- --- ^ .11s bought in open market ,091 18 ,X 32 410 22,424 12,671 21,647 19,182 10,216 13,507 44.755 Total bills on hand 37,280 ll+8,153 28,025 32,999 2,512 55,179 2,236 3,969 888 1,161 1,259 8,849 562 7,948 21.756 , S* Government long-term securities 6l0 2,S29 3,722 39,771 2,210 2,089 2,317 5,724 4,647 2,364 1,793 3,206 3,312 . S. Government short-term securities 2,6s6 5>5&9 22446 10 10 _____ 22. 126 inicipal warrants -------------7 1 , 1 5 2 2 5 , 6 7 6 3 3 2 3 1 9 , 0 0 3 2 4 . 9 3 2 5 0 5 2 6 5 iT o fc a li e a r n i n g a s s e t s - n *: ^ 1 , 1 7 6 156,551 31 >919 44,297 22,707 2 , 6 9 7 1 , 6 2 7 3 , 0 9 2 2 , 2 0 0 7 , 9 3 3 2,970 2,139 le from other F. R. Banks - Net .529 13,332 17,215. .1 0 7 2 5 xcollected items __ 5jsLi.55.Z-. ..?,?,iQl.Q. 167850 21+0,782 15,422 9,940 14,501 32,649 14,156 Total deductions from gross deposits Ip,644 58,557 28,010 20,185 13,338 12,864 500 100 4oo t Redemption Fund ag’ st FrR.Bk. notes . «... 423 i4i _____ 99 80 1Q3_ LI other resources 102,602 ^ 1 94,791" 134,271 822.024 l 6 l ,398 172,760 87.585 70.763~ 296.250 83,823____ 79■149.1.2,902 7.7.>.59.2.. TOTAL RESOURCES L I A B I L I T I E S 2,723 3,927 59,379 2 , 5 6 7 8 , 0 0 6 3,269 6,459 3,478 5,270 2,503 Paid in 5,463 12 , 22*+ 2 , 51+6 142 63,651 647 15,764 2,072 2,262 635 5,549 ovSRnent deposits 2,138 27,578 33,319 61,124 1137,491 156,043 3 9 . 0 7 9 6 9 , 7 2 2 ae to members - reserve account 75,495 424,103 71,506 97,270 39,144 27,326 1,875 66,657 300 37 4,507 550 ae to non-member V k s - clearing acct ... 59,381 4 ,i4 i 6,570 157,364 3,529 8 , 5 1 9 10,089 17,080 7,481 11,340 12,283 25,664 37,341 13,327 ollection items 2.284 3,198 1,477 ae to other F. R. Banks - Net - 5x 315 4o ,006 69,711 1 ^ 25,163 4 5 . 6 9 3 7 9 , 5 4 1 1 9 3 , 3 9 4 5 4 , 0 7 3 91,393 551,601 104,807 116,696 54,840 35,742 Total gross deposits 34,809 28,904 699,343 30,289 27,931 9 4 , 8 3 3 2 6 , 4 7 1 . R. Notes in actual circulation 36,915 256,399 51,027 49,490 29,157 3 2 , 51 s 8,000 8,000 m1 ~ *•» . R. Bk. Notes in circulation, net 1 iab *>m* • 11 other liabilities including for2,^06 6 0 10 110 11 2qi+ ign Government credits JL15. 134,271 822.*024 l6l,398 172,760 87,585 70.763 296,256 83,823 _____ 79.xl4.9 118,9Q2— T L 3 3 3 -- 102,602 2,194,7g L TOTAL LIABILITIES (b) Aaenddd figures. (Difference between net amounts due from and net amounts due to other F. R. Banks; , , 16,898 1 7 , 4 6 5 , ^ 1 2 q j. . . q s 2 1 2 6 , 8 4 8 1 3 , 0 7 8 , 6 . 4 6 2 , 8 5 5 3 , 3 7 0 1 , 2 4 0 - 4 3 , 3 0 0 7 ... 1 3 , 2 2 2 ( b ) 3 , 8 ( b ) l % 9 , 6 ( a ) 9 5 4 2 3 2 , 8 ^ 4 9 Released for publication S-unday morning September 30, 1 9 1 7 . - Not earlie* XUl3c STATEMENT OF FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER 23, I 917 . (In thousands of dollars) Federal Reserve Notes: Received from comptroller Returned to Comptroller Chargeable to F. R. Agent In hands of F. R. Agent ^Bsued. to F. R. Bank less ^^mount returned to F. R. Agent for redemption Collateral held as security for outstanding notes: Gold ocin and certificates on Land Gold redemption fund With Treasurer of U. S. Commercial paper, minimum required TOTAL Amount of couriercial paper de^^ered to F. R» Argent Boston $69,680 13.606 56,074 15.400 n. y. 492,960 98.340 394,620 112.320 Phila. 74,500 12.382 62,118 8.800 Clevel. 71,000 7.316 63,684 11.440 Richm. Atlanta Chi<ja.go St, Louis Minn’ s, Kas Cy. 47,600 49,980 133,480 38,900 46,640 49,720 13.409 8.622 4.083 6.973 7.949 9.678 34,191 41,358 129,397 31,927 38,691 40,042 2.820 6.930 29,900 3.610 5,930 9.880 Total Dallas a S., Fran. 54,600 38,260 1,167,320 197,957 4,765 10,834 43,766 33,435 969 , 363 8.745 215.275 40.674 282.300 53.318 52,244 31,871 34.428 99.497 28,317 32,761 30.162 35,021 33,495 754,088 21,660 1,963 2,000 200,884 11,416 ♦• « 4,220 2,819 33,379 13,517 2,727 20,000 955 15,000 3,459 1,408 25,250 3.72 88,365 2,953 957 13,360 13,102 1,363 7,500 2,370 1,118 17,260 14,480 1,817 6,174 1,325 22,266 276,645 28,040 250,554 15,051 70,000 12,900 16,000 15,916 ....4,311 10,960 11,047 10,796 9,414 12,550 9,904 198,849 40.674 282,300 53.318 52,244 31.871 34.428 99.497 28.317 32.761 30.162 35.021 33,495 754.088 15,069 70,822 12,906 16,012 19,182 4,329 11,178 11,054 11,139 9,992 12,647 10,137 204,467 30,162 2,231 27,931 35,021 212 34,809 33,495 4.591 28,904 754,088 54.745 699,343 M E M 0 R A N D A Federal Reserve Notes outstanding and in actual circulation. 40,674 F.R. notes outstanding 3.759 F.R- notes held "by "banks F.R. Notes in actual circulation 36,915 282,300 25.901 256,399 52,244 2.754 49,490 31,871 2,714 29,157 34,428 1,910 32,518 99,497 4.664 94,833 28,317 1.846 26,471 Distribution of Bills and Warrants hv Maturities Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Bills discounted and bought 178,321 Municipal warrants 146 for S<a.n Francisco as of September 21. a Figures 53,318 2,291 51,027 63,663 ... 97,025 ... 69,614 5 32,761 1,872 30,889 over 90 days 1,468 73 Total 410,091 22U
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