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!> Released. f r r publ i ca t ion Sunday morning June 9 , 1918 Not e a r l i e r .
June 8, 1918,
STATEMENT FOR THE PRESS.
Gains in discounted b i l l s held, o f f s e t in part by l i q u i d a t i o n ®f Government s e c u r i t i e s and acceapanied by s l i gh t increase in the Banks' gold reserves are indicated in the Federal Reserve Board's weekly bank statement issued a# close of business on June 7, 1918.
__ INVESTMENTS. Discounts on hand show an increase of 87.1 m i l l i o n s , New Yvrk, St.Louis and Phi ladelphia shewing the largest gains fJT the week. Of the t o t a l en hand -63.7 per cent , compared with 62 .7 per cent the week b e f e r s , i s repre-sented by member banks' c o l l a t e r a l notes and customers7 paper suppoMed by U.S. war s e c u r i t i e s . Acceptances en hand show a further decrease ef 7.Q mi l l i ons , mainly at the Chicago and rev- Icrk banks, U.S. secur i ty holdings decreased 49.6 mil l ions due c h i e f l y to the redemption during the week of 60 mi l l i ons of Treasury c e r t i f i c a t e s held by the Mew York bank. Tetal investments went up 29 .4 mi l l ions during the week.
DEPOSITS: Government deposits increased 13.7 mil l ions ,and member banks' re-serve deposi ts - 9 . 1 m i l l i o n s . Net deposi ts show a decl ine of 10.2 m i l l i o n s .
RESERVES; Gold reserves increased 1 . 4 and t o t a l cash reserves about 2 m i l l i o n s . New York reports large gains in reserves , mainly through transfers for Government account of cred i t s in the Gold Settlement Fund.
FEDERAL RESERVE CIRCULATION: Federal Reserve Agents report addit ional net i s sues ef 33.3 m i l l i e n s of Federal Reserve Motes. The actual note c i rcu la t ion cf the banks increased 39.9 m i l l i o n s , of which 1.2 mi l l ions represents the increase in Federal Reserve Bank note c i r c u l a t i o n reported by the Chicago and Kansas City banks.
CAPITAL: Payments f o r Federal Reserve Bank stock by newly admitted members accounts large ly for an increase cf $116,000 in paid-in cap i ta l reported by 11 banks.
CONDITION OF MEMBER BANKS MAY 31, 1918 Substant ia l gains in iaffifridual demand depos i t s , accompanied by nederate
withdrawals ef Government depos i t s , are indicated in the Board's weekly statement showing condit ion en May 31, of 689 member banks and trust companies in about 100 leading c i t i e s . Treasury c e r t i f i c a t e s of indebtedness on hand show a further ce c l ine of almost 100 m i l l i o n s , the banks in the central reserve and in other re-serve c i t i e s reporting about equal reductions in the ir ho ld ings . U.S.bonds en hand (exc lus ive of c i r c u l a t i o n bends, which show but s l i g h t changes from week to week) increased abeut 17.4 m i l l i o n s , though the banks in the central reserve c i t i e s report a decrease under t h i s head of 2 .9 m i l l i o n s . Loans secured by U.S. war obl igat ions went up by 20.5 m i l l i o n s , about 70 per cent of t h i s increase being the share of the Central reserve c i t y banks. Other loans and investments of a l l reperting banks gained about 10.5 m i l l i o n s . Of the t o t a l loans and investments,
the share of U.S. war s e c u r i t i e s and loans supported by such s e c u r i t i e s was 17.4 per cent as against 17.8 per cent the week before . For the central reserve c i t y banks t h i s rat io werks out at 22.5 per cent , and for the New York City banks at 25 «2 per cent.
Aggregate reserves , a l l w i th the f .R.banks, decl ined 9 .5 m i l l i o n s , the banks in the central reserve c i t i e s showing a decrease of 6.75 m i l l i o n s , p r a c t i c a l l y nc change i s shown f e r cash in v a u l t .
Owing to the decrease of t o t a l investments and the simultaneous increase cf t e t a l depos i t s the r a t i e ef investments to t c t a l deposi ts ef a l l reporting banks shews a decl ine fram 111 to 110 per cent . For tne central reserve c i t y banks a much larger d e c l i n e ef t h i s r a t i o frem 109.2 to 106.9 per cent i s noted. Similarly the rat io ef cembined reserve and cash to deposits of a l l reporting banks declined from 13.3 to 13.1 per cent , and f e r the central reserve c i t y banks from 14.8 to 14 .4 per c e n t . T*tal excess reserves went down from about 80 m i l l i o n s to 50 .4 m i l l i o n s . For the central reserve c i t y banks a corresponding dec l ine frem 55 .1 mi l l ions t«p28.5 m i l l i e n s i s shown v
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
IP *
tor publ icat ion Sunday morn Ins: Jnn% Q - r *
l L f f f f l ' B E S O m , u £ ^ A S D " m - . w * M m a , C O M OF b u s i e s J M T , 1 9 W * 9 * * . v?0?.d CO.In and c e r t i f i c a t e s in vault ur, 1 9 1 8 , . ^ 31, 1913 June g, I917 Jc- 1 settlement fund, F.R. Board S v t ^ ' 2 5 456,177,000 . 330,001,000 trcxo With fore ign agencies c l ' ^ ' 2 2 425,237,000 205,886,000
Xotal gold held by banks 52,500,000 — uold with Federal Reserve Agents 953*2t5cs'000 ^33,914,000 535, 887,000 Gold redemption fund 2K U ^ n n n 955,919,000 475,201,000
Total gold reserves ' 5 , Q1Q n . , r SL22LOOO 2,730,000 Legal tender notes , s i l v e r , e tc . l « k £ ' r > ™ 1,917,826,000 1 ,013,818,000
Total reserves T q # # # % 57,883.000 37,693,000 B i l l s discounted f o r members and F.R. banks 984,492,000 ' go? 0 0 0 1*975,709,000 1,051,511,000 a i T ^ T i a
h i s ^ nn r r k e t U S _ J I S °
U.S.Government long-term s e c u r i t i e s i h h s h " ™ ? 1,153,730,000 233,291,000 U.S.Government short-term s e c u r i t i e s w 54,842,000 36,387,000 Al l other earning a s s e t s ^ Z S 92,082,000 9 , 2 9 8 , 0 0 0
Total earning a s s e t s 1 n o g l ^ o o o nr.n tonks'net ' ' ' w 19.19u.oco 1 , 3 0 1 ' 3 9 0 ' ° 0 0 3 % : %
Total deductions from gross deposi ts hn? c?q n n 0 ±g|»331,000 304.730.Qfin 5^ Redemption fund against F.R. banknotes A77 nnn ^08,137,000 309,541,000 A l l other resources 62$,000 400,000
TOTAL RESOURCES fog.QQP 5 , 4 7 6 . 0 0 0 L I A B I L I T I E S -«711 > f 03, ^oo 3 ,686,300,000 1,725,54O!OOO
Capital paid in 7 c n n n
Surplus i '134'ooo 75,546,000 57,oco,coo Government deposits 179,876,000 ' ' 1 f - , i n . . . 1 ,134,000 Due t o members - Reserve account 1,449,486,000 j ^ ' i 228,125,000 Col lect ion items 239,971,000 775,771,000 Other deposits including foreign Govt, credi t s 109,560,000 181,321,000
Total gross deposits 1,978,893 000 y^.vyO- 1,000.000 » »• ^ . a ° ^ 1
Jc i r f u ? a t i o n ^ ^ . s r s i o o o I , i . i s 6 , a 7 , o o o
F. B. bank notes in c ircu lat ion - net l i a b i l i t y 9!580!000 1,600,968,000 ' 4 s i ! 469*000 Al l other l i a b i l i t i e s 6,355 000 - 8,324,000 7 , _ „
TOTAL LIABILITIES 3,711,703/000 3 — S 5 K 4 D 0 Ratio of gold reserves to net deposit and F.R. note 7 ooo,3uu,000 1,72*5 s4o nrn
l i a b i l i t i e s combined 59-2f ^ ^ Ratio of to ta l reserves to net deposit and F.R. ^ 7k.6*
note l i a b i l i t i e s combined 6l.<D^ 62" ^ (a) Net amount due to other F.R. banks r /» 77-4$
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
f o r p u b l i c a t i o n Sunday morning Jtaie 3, IQlg WEEKLY STATEMENT OF RESOURCES AMD LIABILITI
R E S O U R C E S Boston "old c o i n and c e r t i f i c a t e s in v a u l t . 2 909 Gold sett lement f und, F.R.Board 72*502 Gold with f o r e i g n a g e n c i e s 3*675
Tota l go ld he ld by banks 79 ogg Gold with Federal Reserve Agents 6 3,037 Gold redemption fund 2 ,000
Tota l go ld reserves Legal tender n o t e s , s i l v e r , e t c
Tota l reserves 146,612 B i l l s d i s . f o r members & F,R»Banks 47 ,013 B i l l s bought in open market 21 .f i l l
Tota l b i l l s on hand 68,824 U.S .Gov' t . long-term s e c u r i t i e s 616 U .S .Gov ' t . shor t - t erm s e c u r i t i e s 1 , 5 4 1 A l l o ther earning a s s e t s
Tota l earning a s s e t s Due f rom other F.R. banks, ne t Unco l l ec ted items 25.031 Tota l deduct.from gross d e p o s i t s 2 5 , 0 3 1 5$ Redeqp.fmd a g a i n s t F.R.Bank
n o t e s A l l other resources
TOTAL RESOURCES
Not earl ier OF EACH OF THE FEDERAL RESERVE BASKS AT CLOSE OF BUSINESS
(In thousands of d o l l a r s . ) ew York P h i l a . C l e v e l . Richm. A t l a n t a Chicago. St .Louis .Minn. Kans.Cy.
L I A B I L I T I E S Capita l pa id in Surplus Government d e p o s i t s Due t o members, reserve account C o l l e c t i o n items Due t o other F.R.Banks, net Other d e p o s i t s inc luding f o r e i g n
Government g r e d i t s Tota l g r o s s d e p o s i t s F .R .no te s in a c t u a l c i r c u l a t i o n F.R.bank n o t e s in c i r c u l . , n e t l i a b . A l l other l i a b i l i t i e s
tet„8en n e t a & f N t m m t s m w z b W M i s a d P • e ? 1 j ? u , » s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
i or p u b l i c a t i o n Swiday rnorrung June Q, j STATE 32!jT OF FEBEBA1
FEDERAL RESERVE NOTES ?ceiv ed from Comptroller sturned to Comptroller ihargeable to F.E.Agent t hands of F.R.Agent (sued to F.E.Banks less amount returned to F.R, Agent for redemption
(LLATERAL HELD AS SECUEITY FOR OUTSTANDING NOTES:
>ld coin and cert i f . on hand >ld redenpt ion ftmd i l i settlement fund,F.R.Board igible paper, mimimum req.d. Total
CUNT OF ELIGIBLE PAPER DELIVERED TO F.R. AGENT
R. notes outstanding R. notes held by banks F.B. notes in actual circul.
FV2 AG2IrT3' ACCOUNTS A1 CLuSJ ( In thousands of d o l l a r s . }
Boston New York Phila. CI ev e l . Richm. Atlanta. 157,440 888,480 197,360 197,260 109,260 92,740 30,583 199,741 32,128 16,24? 21.728 17.176
Ox BUSINESS JUNE 1918.
i26,«57 165,232 i s i .013 16,600 105,400 18,900 15.240
87.532 7,110
75,364 16,325
Chicago St .Louis .Minn. 323,380 92,200 73,980
18,219 14,623 13, 305,161
44.320 77,577
8,590 60,401
J h l m .
X-990C
Kans-Oy. D a l l a s San F r a n Total 104,700 68,500 135,420 2,440,720 17,459 15,682 9,799 407.164
DISTRIBUTION OF BILLS, U.S. GOVERNMENT SHORT-TERM f iCURITIES AND WARRANTS BS MATURITIES
Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 90 days
l i s discounted and botglit S.Gorf t . short term securities nicipal warrants
729,429 3,043
%6
103,734 13,655
43
198,720 1,536
162,771 1,660
1
33,330 12,707
Total
1,233,034 32,601
500
i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
'.fi: C: I obligation Sunday morning Um.e 9 1-1% Not earlier SxAT^.i^.T SnOv/IrJ.j PRIICIPAL IxESQUSQE AND LIABILITY IT1&I3 OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER
SELECTED CITIES AS AT CLOSE OF BUSINESS MAY 31, 191s, (In thousands of d o l l a r s . )
X-990d
1. ' Data f o r a l l re-port in.?, "banks in each d i s t r i c t . Member banks
No-reporting banks U.S.Bonds to secure
c i rcu la t ion Other U. S.bonds includ-
ing Liberty bonds U . S . c e r t i f i c a t e s of
indebtedness Total U.S. s e c u r i t i e s Loans secured by U.S.
bonds, e tc . A l l other loans and
investments Reserve with F> E. bank Cash in vault Net demand deposits Time deposits Government deposits
—— = Trz. L .'..T. c y w _ - r t f tW* 0^.144 . <ZH*Udi5 A 2. l a t a f o r banks in each Central Reserve City, banks in a l l other reserve c i t i e s and other reporting banks.