The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
f \ Released f o r p u b l i c a t i o n Sunday morning February 27, 191b* Not e a r l i e r c 5 5 6 # STATEMENT FOR THE PRESS. February 26, 1916 # The Federal Reserve Board made public today i t s regular weekly bank statement as at c l o s e of "business on Friday, February 25, 191&* The s t a t e ment i n d i c a t e s i n c r e a s e s of 2 , 1 m i l l i o n s in the combined gold reserves and of 1 . 5 m i l l i o n s in the t o t a l reserves of the banks, The t o t a l e a r n i n g a s s e t s show an increase of about 2#7 m i l l i o n s , mainly the r e s u l t of a d d i t i o n a l purchases during the week of United States bonds. The gains i n gold noldings reported by the New York and St $ Louis banks, are due l a r g e l y to tne r e t i r e ment of Federal reserve notes outstanding, while in the case of Chicago tne larger gold reserve shown i s accompanied by gains in deposits and a reduction in the t o t a l due from other Federal reserve banks % Considerable net withdrawals of gold are shown f o r the Kansas City bank, which reports the purchase of 2#15 m i l l i o n s of United S t a t e s bonds, and f o r the Boston bank, whose outstanding claims against other Federal reserve banks show an increase of 1*3 m i l l i o n s since the end of the preceding week. The t o t a l of discounted commercial paper on hand declined over 0*8 m i l l i o n s , a l l the banks, except D a l l a s , reporting smaller f i g u r e s than the week before# P r a c t i c a l l y no change i s shown in the amount of acceptances, 75 P e r cent of which i s held by the New York and Boston banks• Of the t o t a l b i l l s on hand about 37 per cent was paper maturing within JQ days, and over 32 V e r cent paper maturing a f t e r 30, but within 60 days. The holdings of municipal warrants increased about 0*5 m i l l i o n s during the week. Additional purchases of United States bonds are reported by four banks 6 The t o t a l earning a s s e t s of the system stand now at 106 «9 m i l l i o n s and c o n s t i t u t e about 195 per cent of the t o t a l p a i d - i n c a p i t a l , compared with 163 per cent 3 months e a r l i e r and 142 per cent 6 months e a r l i e r . The l a r g e s t p e r c e n t a l : of productive investments, v i z : 27 »7 i s represented by United States bonds,. Bankers* acceptances c o n s t i t u t e at present 27*2 per cent of the t o t a l earning a s s e t s , warrants - 23*7 P 0 r cent and discounted b i l l s <- 21*4 per cent• Government d e p o s i t s show an increase of about 3 m i l l i o n s , a l l the banks except Philadelphia reporting larger f i g u r e s under t h i s head than the week before. No appreciable change i s shown in the t o t a l of net member banks 1 d e p o s i t s , Chicago being the only bank which shows a s u b s t a n t i a l increase of deposits• Federal Reserve Agents report a decrease of almost 10 m i l l i o n d o l l a r s in the t o t a l amount of notes outstanding, mainly the r e s u l t of note retirements shown by the New York, Atlanta and St• Louis Agents# Against the t o t a l outstanding they hold at present 1S5«8 m i l l i o n s of gold and 13 *1 m i l l i o n s of paper* The banks report a t o t a l note c i r c u l a t i o n of 171*4 m i l l i o n s and a net l i a b i l i t y thereon of about 9*4 m i l l i o n dollars» B s l ^ s e d f o r p u b l i c a t i o n Sunday morning February 27, 1916. Not e a r l i e r . ^ 1n1(STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS FEBRUARY - 5 , 19-Lb' RESOURCES . coin and c e r t i f i c a t e s i n v a u l t Gold s e t t l e m e n t fund Gold redemption fund with United S t a t e s Treasurer Total gold r e s e r v e . . . . Legal tender n o t e s , s i l v e r , e t c : Total r e s e r v e . B i l l s discounted and bought: M a t u r i t i e s : Within 10 d a y s . . . . From 11 t o 30 days » 31 t o 60 days " 6 l t o 90 days. Over 90 days motal Investments: United S t a t e s bonds Municipal warrants ^ Total earning a s s e t s - . . F e d e r a l reserve n o t e s - N e t . . . Due from Federal r e s e r v e banks - Net A l l other resources TOTAL RESOURCES Gold February 25, 1916 February 18, 1916 November 26, 1915 August 27, 1915 February 26, 1915$262,491,000 255,369,000 245,986,000 211,145,000 248,255,000 76,435,000 8*1,648,000 73,830,000 55,93?,000 •• • • • • 1.512,000 1,300,000 1.252,000 1,,104,000 654,000 340,438,000 338,317,000 321,068,000 268,179,000 248,909,000 17,678.000 18,274,000 17.212.000 19,878,000 29,085,000 358,116,000 3 56,591,000 358,280,000 288,057,000 277,994,000 . 7,477,000 11,750,000 16,758,000 13,630,000 2.266,000 51,881,000 29,632,000 25,403,000 106,916,000 23,793,000 13,274,000 11,401,000 $513,500,000 5,987,000 13,115,000 18,224,000 13,060,000 2.428.000 52,814,000 26,422,000 24,964,000 104,200,000 28,576,000 12,255,000 7,929,000 5 0 9 ,5 5 1 ,0 0 0 6,164,000 11,129,000 18,325,000 9,524,000 1,831,000 48,973,000 12,919,000 27.108,000 89,200,000 19,176,000 14,053,000 4,613.000 485,342,000 $54,897,000 32,501,000 416,566,000 9,386,000 160.000 $513,500,000 5^,886,000 28,946,000 4l6,490,000 9,0*89,000 l40,000 509,551,000 54,846,000 15,000,000 397,952,000 13,385,000 4,159,000 485,342,000 4 ,4 4 5 ,0 0 0 10,658,000 17,209,000 8,582,000 1.945.000 42,839,000 25,808,000 77,483,000 12,491,000 6,990,000 4,962,000 3^9,983,000 8,836,000 ( qqq ( IjJ.' 7,102,000 ( c -ji.1 000 ( 20,469,000 5,406,000 12,011,000 37,886,000 3,215,000 8,088,000 4,550,000 331,733,000 %4,689,000 36,069,000 L I A B I L I T I E S . C a p i t a l paid i n Government d e p o s i t s . . . Reserve d e p o s i t s - Net Federal r e s e r v e n o t e s - N e t . . A l l other l i a b i l i t i e s TOTAL LIABILITIES ••-• Gold r e s e r v e a g a i n s t net d e p o s i t and note l i a b i l i t i e s ( A ) . Cash reserve a g a i n s t net d e p o s i t and note l i a b i l i t i e s ( A ) . Cash reserve a g a i n s t net d e p o s i t l i a b i l i t i e s a f t e r s e t t i n g a s i d e 40$ gold r e s e r v e a g a i n s t aggregate net l i a b i l i t i e s on^Federal reserve notes in c i r c u l a t i o n (A) f£)for Less items i n Digitized & FRASER t r a n s i t between F. R. banks - v i z : I : 76.5^ 80.4^ 76.5$ 8 0 8 Sl«3$> $13,274,000 : ' * 316,989,000 16,738,000 1 ,.567 >003 389,983,000 . . . . . . . 290,336,000 5,328,000 —:—u-:— 331,733,000 77-3$ $ 82.1# 88-2$ 86.6^ 96-7r 81-5$ 88.5$ 90*8% 97-7/ 12,255,000 14,053,03- 6,990,00^ 6 . 9 " )'>8> m-j l Released f o r p u b l i c a t i o n Sunday morning £eoruary 27, I91S, Not e a r l i e r . jO b . WEEKLY STATEMENT OF RESOURCES MID LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS FEBRUARY 25, 1916. (In thousands of d o l l a r s ) RESOURCES . Boston N. Y. P h i l a . C l e v e l . Richm. Atlanta Chicago St.Louis Minnls. Kas.Cy. Dallas S.Fran. TOTAL Gold coin and c e r t i f . i n vault $13,259 160,212 6,376 11,168 4,67s 5,631 33,203 5,231 3,193 3,225 4,022 6,727 2b2,491 Gold s e t t l e m e n t fund 3,344 6,499 6,239 11,193 10,580 5,776 10,769 2,621 4,049 2,575 9,501 3,239 76,435 Gold redemption fund ili. 50 - 120 119 200 1 10 93 245 10 : 1,512 16,606 166,953 13,215 22,361 15,57S 11,726 44,177 Total gold reserve 7,903 7,277 10,39s 13,763 340,43 s 9,576 Legal tender n o t e s , s i l v e r , e t c . 4,312 -131. 7,657 1,665 1,337 .121 104 131 453835m .5- 17,67s Total reserve 16,739 174.610 18,027 2 1 , 7 4 3 15.697 11.851 45.842 3.207 7,710 11.081 l 4 . 6 0 l 9 . 9 8 1 153.116 B i l l s discounted - Members 133 167 6,646 4,432 217 199 802 1,984 2,070 4,741 915 421 22,827 B a l l s bought in open market 3.654 12,556 1,544 -l^OOg, 325. 160 1,955 225_%6o_ 29,054 .539. -52L .50. Total t i l l s on hand 8,837 12,723 1,743 l,2d6 6,821 4,842 3,939 1,527 1,454 2,597 4,791 1,381 51,881 Investments: U. S. bonds 986 1,286 3,465 3,621 43 6,252 3,339 1,797 4,513 1,295 3,035 29,632 1.461 Municipal warrants 2,989 9,629 6q8 31_ 2.587 1,115 902 470 1^469 25,401 11.234 Total earning a s s e t s 22,352 3,197 8.190 4.835 12,773 7,962 5,564 4.151 7.580 6.036 5.835 106.916 1,124 Federal r e s e r v e notes - Net 13,230 135 1,806 563 386 976 5,573 2 3 , 7 9 3 Due from other F. R. banks - Met 2,977 684 5,143 1,923 571 4,394 1,529 4,445 1,370 1,290(a)13,274 A l l other resources 169 169 3,941 l4o 4*258 .546 _52_ 1,094 .112 -258. 281 159 11.401 TOTAL RESOURCES 14,291 214,131 11,671 11,2.97 25 . 869 13.401 65,166 19.944 17,421 20.289 2 0 . 9 7 8 22.888 511.500 -A L I A B I L I T I E S . Capital paid in Government d e p o s i t s Reserve d e p o s i t s - Net Federal reserve notes - Net Due t o other F. R. banks - Net A l l other l i a b i l i t i e s TOTAL LIABILITIES 5,158 977 23,158 - - 14,291 11,092 7,936 134,817 10,288 r ~ 214,111 5,257 302 5,945 674 4,653 2,4i6 6,l64 8,358 1,358 45 - 105 3,341 6,500 26,112 26,678 11,33° ~~ 11.671 11,297 25,869 18.401 6,652 2,786 2,555 2,999 2,752 3,944 54,897 700 2,232 412 306 5,130 1,068 32,501 58,014 14,876 14,456 15,567 10,024 17,876 416,566 - - 1,117 2,258 - 9,386 - - 65,166 -- - 19.944 -- - - - - -764 - - 17.421 20.289 20.978 - - . - „ 150 22.838 511.500~ MEMORANDUM . F. R. notes i s s u e d t o the banks 9,592 77,635 8,097 11,200 14,200 15,696 4,379 F. R. n o t e s i n hands of banks 1.124 11,230 4lZ_ 1,117. 1,806 -561 F, R. notes i n c i r c u l a t i o n 3,468 64,405 7,962 10,617 11,781 14.59 2,573 Gold and lawful roney with Agent 9 , 5 9 2 77,635 8,097 11,200 9,130 13,201 4,379 Carried t o net a s s e t s 1,124 13,230 1,306 135 563 Carried t o net l i a b i l i t i e s - 4,651 1,358 (a) Items in t r a n s i t i . e . t o t a l amounts due from l e s s t o t a l 7,838 >86 13,200 10,205 13,880 11,070 196,992 88 189 5.571 25.624 10,117 11.691 5,497 171.168^ 9,000 9,000 11,433 11,433 11,070 135,775 - 5,573 23,793 Q 1.117 2.258 ,386 amounts due t o other Federal reserve banks. 7,452 7,838 386 976 12.224 13,200 976 976 Reteased f o r p u b l i c a t i o n Sunday morning February 27, l g i b . 556 c . Not e a r l i e r . STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS. AT CLOSE OF BUSINESS FEBRUARY 25, 1916. ( I n thousands of d o l l a r s ) Federal reserve notes: Received from t h e Comptroller Returned t o t h e Comptroller Chargeable t o F. R. Agent In hands of F» R- Agent Boston Boston N. Y. Y. N. Ph h ii ll aa •. P $19,320 108,240 15,480 C l e v e l . Richm. A t l a n t a Chicago S t , L o u i s Minnls. Kas.Cy. D a l l a s S.Fran. TOTAL 5,600 19,000 13,000 19,580 11,360 275,420 28b 1,043 16,605 1,290 18,337 91,635 14,190 5,745 14,000 6,093 9,59= 77,635 8,097 11,200 14,200 15,696 4,379 7,83* 13,200 10,205 13,8m 5,910 73,958 3-530 10,640 - - - - - - 2,350 10,200 2,003 9,540 682 3,677 46? 560 240 - - 1,102 120 290 20,97b 57,452 I s s u e d t o F. Rc "bank l e s s Z Z M T T e l l L u « *" 11,070 19^992 f o u n t s h e l d by F. R. Agent: In r e d u c t i o n of l i a b i l i t y on outstanding n o t e s ; " o c l T c o l n and c e r t i f i c a t e s C I n 4 g = i S " ™ P t i o n turn With F e d e r a l Reserve Board As s e c u r i t y f o r outstanding n o t e s : Commercial paper — TOTAL 9,592 Mount of commercial paper d e l i v e r e d t o Federal Reserve Agent - - 751 619 44s 650 500 703 290 9,847 12,450 3,760 4,5-40 2,350 6,500 1,19° 10,780 54,300 i 205 2,447 4,100 - - 8,630 - - - ~ - - 2, / 8,097 11,200 14,200 15,696 4,379 7;638 Oj D . t j __ _ ~ _ _ — lcl,62S 500 - - 77,635 - - , R , >2 . - 13,200 , 10,205 13,880 1,215 4,171 - - 11,070 11,217 196,992 13,140
@FedFRASER