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Released for publication Sunday morning, July 16, I 916. Not Earlier. STATEMENT-FOR THE PRESS. July 15, 1916. Large gains in earning assets, considerable withdrawals of Government deposits, only partly offset by gains in bank deposits, and a consequent decrease in total reserves, are some of the salient features of the weekly bank statement made public today by the Federal Reserve Board, as at close of business on July 14, 1916, The figures for July 7 in the consolidated statement are all as at close of business on that date, and differ, therefore, from the figures given in last week’ s state ment, Boston and Philadelphia report considerable increases in their gold holdings, mainly through the withdrawal of balances due from other Federal Reserve Banks. The New York Bank shows a gain of 5,2 millions in gold, accompanied by decreases of 26,5 millions in reserve, other than gold, of 12.6 millions in the amounts due to other Federal Reserve Banks and of 6,2 millions in Government deposits. This Bank reports also an increase of 6.3 millions in the aggregate of acceptances and municipal warrants held, as well as gains of about 4 million in bank deposits and of $315,000 in paid-in capital , apparently in connection with the ad mission to membership of the Corfc Exchange Bank. St. Louis and San Fran cisco both report gains of about one million each in gold and in earning assets. Discounted paper on hand increased almost 2 millions, of which over 1 million represents a gain of the Chicago Bank. Of the total discounts on hand nearly 20 per cent is agricultural and live-stock paper maturing after 90 days. Acceptances on hand show' an unusual gain for the week of almost $11,000,000, For the first time the weekly statement shows a total of bills on hand inaS-cess of 100 millions, a gain of nearly 60 per cent for the past three months. Nearly 35 per cent of all bills, including acceptances, mature within 30 days, and about 34 per cent - after 30 but within 60 days. Warrants in the hands of the Banks show an increase of 2.2 millions. The New York Bank reports large purchases for the week of New York City warrants, while the St. Louis Bank reports a considerable investment in short tern gold notes of the State of Missouri. There were no transactions during the week in United States bonds or notes. The total earning assets of the Banks increased over 15 millions, and constitute now 344 per cent of the total paid-in capital, compared with 318 per cent the week before* Of the total earning assets, acceptances represent at present 42,8 per cent., United States bonds 27,7 per cent, warrants -» 14,5 per cent, discounts— 12,6 per cent,, and Treasury notes— 2,4 per cent. Richmond and Atlanta report the return of'the special deposits of 5 millions each made last September by the Government for crop-moving purposes. There were in addition withdrawals in some volume of Government deposits from the New York and Chicago Banks, Net member bank deposits show an increase of 9.1 millions , all the banks, except Philadelphia and Dallas, reporting larger figures than the week before. There has been a slight decrease in the circulation of Federal Reserve Bank notes. Federal Reserve Agents report a total net amount of Federal Reserve notes issued to the"banks of $179,358,000, or $425,000 less than the week before. Against this total they hold sold and $13,441,000 of paper. The banks show a total of $157,579,000 of Federal Reserve notes in circulation and aggregate net liabilities of $10,098,000 on notes issued to them by the Federal Reserve Agent©, A W ^ Iw a s e d lor pucaxca^ion Sunday Hom ing July lb, 1916. Mot earlier, J3TATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESEB R E S O U R C E S . Gold coin and certificates in vault........................................ Gold settlement f u n d ........... ......................... 118 6^1 000 Gold redemption fund with United States Treasurer......... Total gold r e s e r v e .............................................................. Legal tender notes,, s ilv er etc......... ....................................... Total reserve............................................................... ’ .! ! ! ! Five per cent redemption fund against F . R. bank notes......... Bills discounted and bought: Maturities: Within 10 dafs.......................................... From 11 to 30 days...................................I ' . " " . : ' : ................................................. lk <t0rQ lglg l" 970*000 3901^000 iq 27 9 000 400% 82 000 V n 'n n n * in non 35 28,730,000 Total 90 days ...................................................... . _ _ I | ^ ^ gqq i0Zsa............................... *........................................................ 105,098,000 Investments: United States bonds.................... .........., ................ 539 000 4^546^000 One-year United States Treasury notes.*............. Municipal w a r r a n t s 27 424 000 Total earning a s s e t s . . . . . . ................................................. 189,657^000 Federal reserve notes - H e t......................................................... 20,760 000 Due from Federal reserve banks - N e t . . . . ................................... 20^056*000 All other resources......... .......... . . .............. ........... , 8^244'>000 total r e s o u r c e s ................................................. . . ! ! ! ” !! ! $639,649,000 l i a b i l i t i e s . . Capital paid i n . , .............................................................................. 55,176,000 Government deposits................ . ...................................................... 97,476 000 Reserve d e p o s i t s * - ..U © i ,,. ................................ ...................... 474^942^000 Federal reserve notes — B e t . . . * .................. ...................... 10,098,000 Federal reserve bank notes in circulation .............................. 1*720*000 All other liabilities.................................................................... 217*o6o ; TOTAL LIABILITIES ................................................................. $639,649*000 Gold reserve against net deposit and note!liabilities ( A ) . . . 69, 4$ Cash reserve against net deposit and note liabilities (A ). . . 71.2$ Cash reserve against net deposit liabilities, after setting aside 40$ gold reserve against aggregate net liabilities _on Federal reserve notes in_circulation_(A)JL.J_._L.J_.^.^._;_ . ^ ______£1.8$ (A)^Less items in transit between Federal reserve banks,viz $2bjb56jb00' » g Jul 61 to 90 days................................................. 7^6 a* BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS JULY l4, 1916, July 7, 1916 261, 232,000 123, 611,000 2.011.000 386.854.000 36.902.000 ^23,756,000 * 450,000 7.970.000 20.688.000 32, 002,000 27.090.000 4.421.000 92.173.000 ✓ 52,58o;ooo 4.546.000 25 . 216.000 174. 544.000 24.111.000 20. 273.000 1.979.000 647. 113.000 54. 858.000 114.460.000 465.840.000 9. 992.000 1. 721.000 242,000 647. 113.000 67. 9$ 74.3 $ _ _ 1 5 * 0 $ ____ 20, 273,000 . April 14, 1916 245, 71^,000 75, 690,000 -1,495,000' 322. 899.000 ii.5o4,ooq 334. 403.000 350.000 January 14, 1916 260, 855,000 85. 630.000 1.215.000 3^7, 700,000 14.281.000 361. 983.000 40,000 7 . 232.000 15. 905.000 23. 574.000 17. 605.000 7.399.000 13. 291.000 16. 961.000 14. 195.000 1,954.000 66. 270.000 44. 924.000 3 . 234.000 35, 706,000 150. 134.000 22. 159.000 16. 825.000 -3,671,000 527. 544.000 | 12, i46,ooo 12. 103.000 1.910.000 55. 756.000 17. 613.000 9.399.000 1.992.000 37.640.000 7. 923.000 19.484.000 92. 853.000 29. 943.000 12.995.000 9 , 765,000 507. 579.000 14.191.000 59. 954.000 9.953.000 5.855.000 4.416.000 3^7,878,000 5^ , 899,000 26. 879.000 ^ 13, 719,000 54. 135.000 • • «• « « a 54.845.000 34. 732.000 426. 507.000 9. 511.000 1. 423.000 526.000 527. 544.000 71. 1/, 11.948.000 * « » « • Jk* ii4.ooo 507. 579.000 79*1$ 82.4$ 73-7$ _ 74_.4^ _ 16, 825,000 July 16, I 9I 5 . 213. 472.000 46.680.000 1 . 016.000 261. 188.000 26 . 492.000 287.680.000 - ______ 12,995,000 * * ♦ ♦ • • 297. 616.000 14.242.000 • • *% ** ♦ 1.885.000 367. 878.000 85*3$ 94. 0$ _ 96-6$_ _ 5,855,000 Hfeleased for publication Sunday morning July 16, 1916. ear2ier WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVEBANKS AT CLOSE OF (In thousand# of dollars) R E S O U R C E S . Boston N. Y» Phila* Clevel. Sichxn. Atlanta ChicagoSt.Louis Minnls. Gold coin and certif.in vault $6,675 162,823 11,222 12,9611 5 , l4l 5,968 36,561 5,672 6,021 r°™ se^tle^ ent 20,193 K 36 7 16,200 11, 898' 10,538 1,504 ll,o i 6 6,197 5,657 Gold redemption fund 5 250 50 59 407 200 QO Total gold reserve 2b,873 1 6 7 ,^ 0 27.4J2 24,918 16,086 7,925 ^7,777 11,353 11,708 Legal -tender notes,-silver,ate. 15____ b j i z ______ lUl 1,097 182 1,002 7^7 l .T O TO BUSINESS JULY 2 , 1916, Kas.Cy. Dallas S.Fratt TOTAL 4 , 15!+ 5,237 7,167 269,602 11,539 1^850 85 9,759 9,763 118,631 “1R7prqin ' i Q7n 15,255 l6,9HO 390,*203 800 2^; 10.279 rtf - I f63! 1^ 9!? n v v + — ^--88 ^ 2 , 2 0 2 27,613 2 6 ,01§ 16,268 8^927 48,514 13,094 12,008 15,915 16,055 l 6 .q6l 400*482 yfo redempt*fund - F.R.T>ank notes -7 7 7 7 T7T TZ 7 ^ ~1------ 7 7 7 -- IT--kOO--- 50 " — --Bills discounted - Members 181 325 823 5U6 5,505 2,707 3,633 644 1,219 1,943 5,892 55O 23, 968bougnt m open market .12,105 28,109 11,507 5,96l 1,624 1,448 5,4l9 4.658 2,211 798 ' 7,248 81,110 Total M i l s on hand ^12,286 28^,434 12,330 6,509 7,129 4,155 9 , 0/2 5,102 1,450 2,741 5 , 8Q2 7,798 105,098Investments: U* S. bonds 3 , 0 8 2 3 , 4 8 2 3 , 1 8 2 6, 7 5 6 1,605 1,6&4 9,753 2,959 3,513 9,853 3,111 3,609 ^P/589 One-year U. S. Treas.notes 250 1,532 818 -456 35O -38O 35O 4l0 -" 45)46 Municipal warrants _2*525___ ,7,500 2,527 4.900 86 -4,596 1,670 1,011 455 -2.062 2 7> ?4 Total earning assets 18^,213 40,948 1 8 ^ 5 7 18,165 9,276 6,189 21 .U21.. 10,1118,l46 l T T W j ........ 9~,001... Federal reserve notes - Net 820 11,554 %1 ^ 4 -17533 1^678 I / 39I 1,365 - - ---- ----- l M t ~ 2 0 ^ ^ b 0 Dm from other F. R. banks - Net 1,921 - 1,595 2,537 1,609 1,001 5,639 2 ,% 4 1,018 1,446 100 l'.75l(a)20*056 ____ 38____ 4,134 48 421 197 1,012 902 178 106 182 545 -'261 8.244 All otner resources TOTAL RESOURCES 47,880 228,838 48,574 47,112 27,150 18,782 80,354 27,668 22,84l 11,422 25,751 l4,108~ ~ 6l9T6W L I A B I L I T I E S . Capital paid in 4,925 Government deposits 8,061 Reserve deposits - Net 3^,799 Federal reserve notes - Net -F. R. bank notes in circulation -Due to other F. R. banks - Net — All other liabilities ______95 TOTAL LIABILITIES 4 ^ ,880 11,596 34,169 5,2l6 10,692 5,966 3,550 3,357 3,985 182,018 32,616 37,816 15,771 _ __ __ 4,14-8 ___ __ _ _ __ 1,055 - ------- 5 0 ___ _______ 89 228,838 48,57447,332 ~27,150 2,468 6,669 5,097 9,348 64,137 11,214 _ _ 1 18,782 M E M O R A N D U M . F. R. notes issued to the banks 10,606 70,731 7,982 9,762 9,578 13,998 F. R. notes in hands of banks 820 11,554 46l iq4 472 1.611 f i n circulation . - ^ 7 8 6 , 53,1X L .. 7, 521 9, 56.8 ,9 , 106 . 12,365 C-oid and lawful money with Agent 10,606 ; 70,73 1 7,982 9,7625,958- 13,998 C^rr^d to net assets 820 11,554 46l 194 -1,633 Carried to net liabilities ______) h M ____ - (a) Items in transit i« e* total amounts due from less total 2,792 5,884 18,992 — 2,576 670 19,597 — 2,999 3,297 22,088 1,318 1,720 _ 80,154 2 7 ,668~ 22,84l 3,625 6,738 1.678 1.191 12,808 l,l65 1,947 5,147 11,541 3,625 6,738 12,808 2,679 6,906 11,536 4,632 --- 3,933 5,817 24,358 — — - ~ 55,176 97,476 474,942 10,098 1,720 U ~ 4~22 ____ 25^751 l4~108 6iq.64q 9,482 152 14,319 ^q5 17Q X58 21 77q 9.110 ' 11,924 97292 87012 -- 9,72q 3 664 8.065 ~?xt i s 7 ^ 7q 9 729 168 241 1,678 1,391 1,365 -1 664 20*760 ---1,118 4,6l2 m OQR amounts due toother Federal reserve "bmks* Released for public gition Sunday morning July 16, 1916 . Wot earlier. 736 c* STATEMENT OF FEDERAL RESERVE AGENTS’ ACCOUNTS AT CLOSE OF BUSINESS JULY l4, 1916 * (in thousands of dollars) Boaton Federal Reserve notes: Received from the Comptroller 15,160 17,000 20,400 9,380 9,600 19,000 13,000 23,580 13, 32c 297,5^0 3,55>+ 32,709 3,778 1,898 4,022 2,306 874 1,100 362 1,035 2,672 791 55,101 16,826 88,531 11,702 13,262 12,978 18,094 8,506 8,500 18,638 11,965 20,908 12,529 242,439 6,220 17,800 3,720 3,500 3,400 4,096 4,881 1,762 5,830 2,483 6,589 2,, 800 63 .,081 10,606 70,731 7,982 9,762 9,578 13,998 3,625 6,738 12,808 9,482 14,319 9,729 179,358 9*700 63,817 4,090 9,250 2,850 10,820 4,050 8,040 906 6,91^ 332 512 Issued to F. R. bank less amount returned to F* R. Agent for redemption A Amounts held by F« R« Agent in redemption cf liability on outstanding notes: On hand; Gold coin and certificates Credit balances: In gold redemption fund With Federal Reserve Board * TOl/L 15,480 In hands of F. R. Agent Amount of commercial paper de ^li^ered to Federal Reserve Agant Atlanta Chicago St.Louis Minnls. Kas.Cy. Dallas S^Frarw 121, 240 Chargeable to F. R, Agent TOTAL Phila* Clevel. Richm. $ 20,380 Returned to the Comptroller As security for outstanding notes Commercial paper N. Y. - 3,560 112,617 358 998 315 338 638 462 822 379 12,97^ 4,6oo 13,000 3,310 3,550 1,350 3,500 430 9,350 42,650 1,470 5,027 9,482 1^,319 1,570 5,564 * 4,620 10,606 70,731 7,982 9,762 9,578 6,307 13,998 3,625 6,738 12,808 — 9,729 — 11,117 179,358 13,441
@FedFRASER