The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
> ^ , 870 Released for publication Sunday morning, November 5, 1916. ^ Not earlier.. STATEMENT FOR THE PRESS. November 4, 1916. Liquidation on a large scale of municipal warrants, also of coranercial and bankers1 paper, accompanied by corresponding gains in aggregate gold re serves of the Federal resen/e banks, is indicated by the weekly bank sta te ment of the Federal Reserve Board made public to-day as at close of business on November 3, 1916. Large transfers of gold through the Gold Settlement Fund mainly from New York and Boston to Philadelphia, St*Louis, Kansas City and Dallas, tooic place during the week. The Boston bank reports a decrease of 2«2 m illions in total reserves, together with a decrease of 3 ,2 m illions in deposits and an increase of 0 .8 m illion in the balance due from other Federal reserve banks, offset in part by the liq uid atio n of 1 .9 m illions of earning assets. New York shows a decrease of 2<7 m illions in gold and of 3 ,3 m illions in other reserve. The decrease of 6 m illions in total reserve is accounted for large ly by a considerable increase in the amount due from other Federal reserve banks and a decrease in deposits. P h ila d e lp h ia !s gain of 5 .1 m illions in reserve is accompanied by a change' of a favorable balance of 1*5 m illions to an adverse balance of 1 .4 m illions in account with other Federal reserve banks, also by the liquidation of 1*9 m illio n s, net, of acceptances and war rants and some increase in d ep osits, Gains in reserves reported by the other banks result chiefly from p artial withdrawals of balances due from other Federal reserve banks, the liq u id a t io n of earning assets, and, in the case of some banks, from increased net deposits. Discounted paper on hand shows a decrease for the week of about 1*4 m illions* The larg er decreases under this head shown by the Richmond, Min neapolis and Dallas banks are offset in part by a gain of 0*6 m illion re ported by the Atlanta bank. Included in the total discounts is an amount of $ 1 ,2 1 9 ,0 0 0 of member bank collateral notes discounted for 8 banks. Ac ceptances on hand show a decrease of about 1 m illio n , notwithstanding the fact that the New York bank reports a gain for the week of 1*4 m illions in the total held. Of the total b il l s , including acceptances, on hand 3 3 .7 per cent mature w ithin 30 days, and 3 9 ,6 per cent after 30 but w ithin 60 days. Transactions in United States securities are reported by 3 banks, re sulting in an increase of $ 7 1 ,0 0 0 in the amount of United States bonds and a decrease of $ 6 6 ,0 0 0 in the amount of Treasury notes on hand. A decrease of 5 .8 m illions is shown in the amount of municipal warrants held, the week w itnessing the liq uid atio n of considerable amounts of matured New England city notes. Total earning assets - $ 1 8 0 ,7 7 0 ,000-show a decrease iot the week of about $ 8 ,2 4 0 ,0 0 0 and constitute at present 325 per cent of the to tal paid-in cap ital, compared with 339 per cent the week before and 294 per cent about 6 months before* Of the total earning assets, acceptances repre sent 4 7 .1 per cent;* United States bonds 2 2 .4 per cent; warrants 1 3 .3 per cent; discounts 10*9 per cent; and Treasury notes 6 .3 per cent* Government deposits declined about 1 .3 m illio n s, the New York bank re porting considerable withdrawals of Government funds for the past week# Net member bank deposits show a s lig h t gain, Boston, Atlanta and S t * Louis being the only banks where net bank deposits do not show increases for the week. There has been no change in the amount of Federal reserve bank notes out standing, Federal Reserve Agents report the issue of $ 2 4 0 ,5 3 4 ,0 0 0 of Federal reserve notes, secured by $ 2 2 5 ,0 6 0 ,0 0 0 of gold and $ 1 6 ,0 6 5 ,0 0 0 of paper. The banks show a total of $ 2 1 9 ,9 3 8 ,0 0 0 of Federal reserve notes in circulation, an increase of $ 5 ,3 1 6 ,0 0 0 for the week, and aggregate l i a b i l i t i e s of $ 1 2 ,6 2 7 ,000 upon notes issued to them by the Agents, 870 a Not aarjiiBi earlier teased for publication Sunday morning November 5 , :i9lf>. box P a TEMEHT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF EUSINESS NOVEMBER 3, S . November 3 , 1916 Gold coin and ce rtific ate s in v a u l t . . . ............................................ $278,157 >000 1 2 7 .6 4 1 .0 0 0 Gold settlement f uno........................................................................ Gold redemption fund with United States T r e a s u r e r ....'... _ _ i , 1 9 4 3000 Total gold re se rv e ...................... ......................................... ^ 07, 192,000 6 .8 8 4 .0 0 0 Legal tender notes, s ilv e r , e t c .......... .................... ................ 4 1 4 . 076.000 Total rese rv e .......... ........................ ...................................... Five per cent redemption fund against F. R. bank notes. 4 2 0 .0 0 0 B ills discounted and bought: M aturities: W ith in 10 d a y s ...................................................... 12 , 030,000 From 11 to 30 days.................... .......................... 2 3 ,2 7 8 ,0 0 0 4 1 ,^ 7 3 ,0 0 0 " 31 to 60 days............................................... 26. 719.000 " 6 l to 9° days............................................... 1 . 261,000 Over 90 days........................................................... 1 0 4 .7 6 3 .0 0 0 T o ta l..................................................... .................................... 4 0 .5 4 0 .0 0 0 Investments: United States bonds............................................. One-year United States Treasury n o te s ........ 1 1 . 367.000 2 4 .1 0 0 .0 0 0 Municipal w arrants.................-— --................. 180 770.000 Total earning a s s e ts ........................................................... 1 7 ,^ 4 9 ,0 0 0 Federal reserve notes - N e t . . ................................................... 3 4 .7 7 8 .0 0 0 Due from Federal reserve banks - Net..................................... 1 .0 7 1 .0 0 0 A ll other resources........................................... ............................ $ 650 , 864,000 TOTAL RESOURCES..................................................................... L I A B I L I T I E S . 5 5 . 709.000 Capital paid i n ................. • ............................................................ 2 8 .6 8 6 .0 0 0 Government d e p o s i t s ............................................................. .. 5 5 2 ,3 8 6 ,0 0 0 Member bank deposits - N e t ......................................................... 12 , 627,000 Federal reserve notes - N e t....................................................... 1 . 031.000 Federal reserve bank notes in circulation-..---.............. 4 2 5 .0 0 0 A ll other l i a b i l i t i e s # 6 5 0 ,8 6 4 ,0 0 0 TOTAL LIABILITIES- ................................................................... Gold*reserve against net deposit and note lia b il it ie s (a) 72-9f6 Cash reserve against net deposit and note l i a b il it ie s (A ). 74-1$ Cash reserve against net deposit l i a b ilit ie s after setting ^aside 40^ gold reserve against aggregate net l ia b il it ie s _ * n Federal reserve notes in £iEcula'ki0I?L’_.(A)_^._;_.j_-— j _ - ______ _74_-9$ — (A) Less items in transit between Federal reserve banks, v iz: $ 3 4 ,7 7 8 ,0 0 0 . October 27, 1910 2 7 4 .0 0 1 .0 0 0 1 2 2 .5 8 7 .0 0 0 1 .3 9 1 .0 0 0 3 9 7 .9 7 9 .0 0 0 .91.97.6*000. 4 0 7 .9 5 5 .0 0 0 4 2 0 .0 0 0 16 ,808,000 20. 513.000 39 . 062.000 29. 620.000 1 , 211.000 107 . 216.000 August 4, lg l 6 2 5 6 ,4 3 7 ,0 0 0 106 , 811,000 _ 1 ^ 15,000 365 , 163,000 1 1 ,6 9 9 ,0 0 0 376 , 862,000 4 5 0 ,0 0 0 15 , 271,000 23 , 863,000 2 9 .8 9 0 .0 0 0 1 8 9 .0 1 0 .0 0 0 1 6 .8 4 6 .0 0 0 3 3 .1 9 7 .0 0 0 3 .7 0 8 ,0 0 0 651 . 136.000 4 2 ,5 6 6 ,0 0 0 25, 228,000 1 , 006,000 1 0 9 ,9 3 4 ,0 0 0 4 8 ,0 3 7 ,0 0 0 7 , 925,000 2 7 .V 7 5 .0 0 0 1 9 3 ,2 7 1 ,0 0 0 2 0 ,4 2 6 ,0 0 0 1 9 ,9 4 7 ,0 0 0 4 ,4 1 1 .0 0 0 615 , 367,000 5 5 .7 0 3 .0 0 0 55,1*48,000 29,98 2 ,,000 56 , 607,000 490, 625,000 1 1 , 029,000 1 , 692,000 266,000 615 , 367,000 67 . 7$ 70 - 0$ 4 0 .4 6 9 .0 0 0 1 1 . 435.000 5 5 1 .9 1 8 .0 0 0 1 1 . 966.000 1 , 031,000 5 1 6 .0 0 0 651 , 136,000 7 1 . 0$ 7 2 . 8$ _ 3 3 ,1 9 7 ,0 0 0 _ 70 . 6$ 19 , 947,000 May 5 , 1916 2 3 2 ,2 8 4 ,0 0 0 72 , 621,000 1 . 692,000 3 0 6 ,5 9 7 ,0 0 0 10 x25.9^.000 316 , 856,000 362,000 9 , 623,000 13 , 623,000 27 , 568,000 1 4 ,4 8 7 ,0 0 0 2 ,6 4 6 .0 0 0 67 , 947,000 50, 137,000 3 ,8 4 0 ,0 0 0 3 9 ,1 5 4 ,0 0 0 1 6 1 ,0 7 8 ,0 0 0 26, 309,000 17 , 328,000 1 .7 6 1 ,0 0 0 5 2 5 ,6 9 4 ,0 0 0 5 4 ,8 6 2 ,0 0 0 4 0 ,4 l 4 ,0 0 D 419,943,000 8,573,000 1916 November 5 ,1 9 1 5 * 232, 678,000 60, 810,000 1,227., 000 2 9 4 ,7 1 5 ,0 0 0 3.1j.56J.x QOO 326, 282,000 * « a « 1 « 5 , 863,000 10 , 436,000 15 , 606,000 8, 498,000 ... 2 ,7 2 4 ,0 0 0 4 3 ,1 2 7 ,0 0 0 10, 533,000 » «* * * »• 2 2 .1 4 8 ,0 0 0 7 5 ,8 0 8 ,0 0 0 1 5 ,1 8 4 ,0 0 0 1 2 ,4 8 3 ,0 0 0 2 , 962,000 4 3 2 ,7 1 9 ,0 0 0 54,848,000 15 , 000,000 - 346 , 063,000 13 , 661,000 1 ,6 9 4 ,0 0 0 208,000 5 2 5 ,6 9 4 ,0 0 0 Gl-.9fo 70 . 2$ ________________ 7Q>2$ _______ 17 , 328,000 1.147.000 432,719,000 81.4$ 90. 1$ 92 . 0$ _______ 1 2 ,4 8 3 ,0 0 0 1 1916. leased for publication Sunday morning November 5, 870 b. Wot earlier. 'TEEKLY* STATEMENT OF RESOURCES ATO LIABILITIES OF EACH OF THE TELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 3 , 1916 . R E S O U R C E S . Gold coin and certif. in vault Geld settlement fund Gold redemption fund Total gold reserve Legal tender notes,silver, etc. Total reserve redempt. fund - F. R. bank notes Bills discounted - Members Bills 'bought in open market Total bills on hand Investments: U. S. bonds One-jrear U. S. Treasury notes Municipal warrants Total earning assets Federal reserve notes - Net ^D ue from other F. R. banks - Net All other resources TOTAL RESOURCES Boston $10,798 12,290 23,088 424 23,512 IT- Y ' , Phila- f Clavoi: 1 166,584 1 7 ,3 1 7 1 5 ,4 1 3 8 ,6 54 9 ,1 5 1 1 2 ,1 9 5 250 50 '6 6 175,488 26 ,518 27,6 74 398 1 ,1 3 0 1,89^ 177,381 2 6 ,9 16 28,804 _ 288 1,085 332 6 ,2 1 2 25.975 1 1 ,6 6 2 6,500 27.060 11,994 2 ,1 7 6 1,413 5,737 1,174 718 1,205 6.84^ 3,968 2.170 36.521 17.514 16,923 390 11,0 5 8 599 4,237 5,6 76 176 ~l66 193 230,812 45,195 50,547 _ 410 10,080 10,490 2 ,1 3 2 1,000 2,262 15,88^4 1,3^1 1,9 4 5 208 42,890 _ Riohm At lant a Chicago St *Louis Iiinnls. Kas. Cy. Dallas S .Fran. Total 5,440 3,726 10,909 278,157 " 5,750 4,360 4 ,1 7 6 29, W 9 ^ ,2 3 5 1,463 127,641" 11,694 13,0 0 5 5,285 19,490 4,188 22,129 8,097 10 1,394 " 120 156. . .... 30_ 2^0 215 200 67 12 ,38 2 1 1 ,0 6 5 13,604 17,3 6 0 15,576 U07„192-' 24,080 8,579 51,778 6,884'' 8i _ 207 _...... 5 1 . 974 - 1,097 348 48 -2 1 1 17,411 414,076 ■ 15,807 ' 12,465 24,128 8,927 52,752 14,701.. 11.272 _ _ _ _ —— 50 420370 245 808 1 9 , 682^ 3,062 2,671 2,176 1,757 3,193 3,655 ....8^120.. 1,894 8 5 ,0 8 1 " 6 .16 2 1 ,6 0 1 4,446 4,_7_93_.. 2* m _ ... ..J27 ...JLI02 4,496 9,224 10 4,763 4,794 8 ,1 0 1 6,969 . _3U 92 ... 9.,.035 2,720 2,633 40,5409,270 2,348 2,867 7 ,5 H 523 1,2 10 600 700 891 824 1,0 70 705 963 11,367." 1,517 1 ,1 1 0 _ lJ*62L 465 ... . _^0_. ....2i3Q5._ 24/100 61 294 3,109 6^87J ._ . 1 ?+,3.7.3... 180,7-70*' 9,526 13,400 6,44s 10 ,429 2 1 , 3 6 1 * 1 1 ,3 1 8 -— — 1,30 6 .1,164 — 1 ,8 9 1 17,749 2,904 1,643 5,218 8,443 1,0 27 ^,532( a) 31*, 7 78' 796 168 ... -,-.53.8.,. 260 37 3.071/ 42 599 ... 271 .. 4l3._. 31,414 19,955 84,133_. 3l,i£L 24,903 . 12^ 2_ 24,295 ..3.1J1I4_ 650,864 ........... ........ - _ . L I A B I L I T I E S . Capital paid in Government depooius Member bank. deposits - Net Federal reserve notes - Net F. R. bank notes in circulation Due to other F. R. banks - Net All other liabilities TOTAL LIABILITIES H E M O R A I D U M F. R. notc-s issued to the banks F. R. notes in hauids of banks F. R- notes in circulation Gold and lawful mon~y with Agent Carried to net assets C^rriod to net liabilities 5,024 1,358 36,342 11,909 2,517 216,358 -_ 5,224 4,015 3 4 ,4 13 —_ 5,994 1 ,460 *+3,093 -- 3,340 4,309 20,650 3,097 6,681 2,794 2,479 2,886 3,574 2,218 11,3^9 75,234 22,000 - 2,272 3 ,8 17 —_ 166 42,890 —— 28 230,812 1,408 135 45,195 — —— 50,547 —18 =51.414 235 —46 19.955 84,133 -_ 31,497 3,044 2,606 949 816 21,348 27,062 - 1,039 1 ,0 3 1 2,694 1,709 17,490 2,402 - --24,903 _ _ 3 2 ^ 2 -24,2^5. .3 3 ,8 1 ^ 3,920 2,875 27,047 - - 55,709 28,686 552,386 12,627 1,031 425 650,864 16,606 22,540 3,170 14,797 16,593 18,234 24,952 11,014 240,534 44 1,249 1,306 . _ 5 3 0 _ 1.164 501 20,596 1.891 523 1,-64 ._ i .5 ^ 2 9 24,908 21,291 14,267 16,083 17,733 .9,123 219,938 .... 12,986 19,019 3,170 10,450 16,593 16 ,6 9 4 22,506 11,014 225,060 1,306 1,164 ---- 390 1 ,8 9 1 17,749 11,058 599 — ... 12, 627 2,2 72 2,402 3,817 1,039 3,097_ (a)) Items inl transit i . s> total amounts due from less total amounts due to other Fsjderal reserve banks. 11,071 1,341 9,730 1 1 ,0 7 1 1,341 83,904 11,0 5 8 72,846 83,904 8,939 599 8,340 8,939 8,714 390 8,324 8,71^ - __ _ _ — _ _ — ‘ Reused for publication Sunday morning November 5 . 1916- 870 . c. Not earlier. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS NOVEMBER 3 . 1916(i n thousands of dollars) Boston Federal Reserve Notes: Received from the Comptroller Returned to the Comptrc-'.-.er $ 2 4 ,8 8 0 N. Y . 148, 400 6,329 47.336 C level. Richm. 1 5 ,4 8 0 5 .3 6 1 15,160 3 ,1 4 6 Atlanta Chicago St.Louis Minnls. K as.C y. Dallas S.F ran. Total 25,000 5.844 29,4 2 0 3 ,3 9 5 10 ,119 1 2 .0 1 4 19,156 26,025 7 ,4 8 0 17,160 1 ,1 8 0 3.300 2 ,5 5 0 3 ,4 8 5 Issued to F . R* Banks less amount raturned to F. R. Agent for x'edempiion 1 1 ,0 7 1 8 3 .9 0 4 8 ,9 3 9 8 ,7 1 4 16,606 22,5 4 0 Amount held by F. R. Agent in reduction of .liability on outstanding notes: On hand: Gold coin and certificates 10,500 8 1 ,2 1 5 3 ,8 2 0 8, l40 571 2,689 439 574 In hands of F . R. Agent Credit balances: In gold redemption fund ,-'ith Federal Reserve Board As sectirity for outstanding notes: Commercial paper Total -- 4 ,6 8 0 - - - - 1 1 ,0 7 1 Amount of commercial paper delivered £0 Federal Reserve Agent - - - - 83,904 8 .9 3 9 8 ,7 1 4 9,380 1 8 ,5 ^ 0 2,203 1 .3 2 9 101,064 Chargeable to F. R. Agent 13,551 Phila* 8,051 21,000 687 23,220 1 .7 7 3 35.320 3 ,8 0 7 14,4 40 1,526 380,260 82.736 16/357 20,313 21,4 4 7 3 1 ,5 1 3 1 2 ,9 ^ 4 ,8 8 1 1,560 3 ,7 2 0 3 .2 1 3 6,561 1,900 56.990 3 ,1 7 0 14,797 16 ,593 18 ,2 3 4 24,952 1 1 ,0 1 4 2 4 0 .5 3 4 5,165 1 2 ,730 4 ,2 7 0 10,340 - - 14 0.74 0 4,560 297 , 524 486 1 ,4 0 9 220 775 913 924 1,2 86 444 1 0 ,7 3 0 12>500 13,050 2 ,9 5 0 4 ,5 1 0 2 ,9 5 0 11,500 1 0 ,8 8 0 1 0 ,5 7 0 7 3 ,5 9 0 3,620 3 ,5 2 1 -- 4,347 -- 1 ,5 4 0 2 ,4 4 6 - - 1 5 ,4 7 ^ 16,606 2 2 ,5 4 0 3 ,1 7 0 14,797 16,593 1 8 ,2 3 4 2 4 ,9 5 2 1 1 ,0 1 4 2 4 0 ,5 3 4 3,796 3 ,5 2 3 1,5 5 6 2 ,8 4 2 - - - 4,348 - - -- 16,065
@FedFRASER