Full text of H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks : August 27, 1916

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A

V

RELEASED FOR PUBLICATION SUNDAY MORNING, AUGUST 27, 1 9 1 6 .

778
Not e a r l i e r .

STATEMENT FOR THE PRESS,

August 26, 1916,
The F e d e r a l R e s e r v e Board made p u b l i c to—day i t s r e g u l a r weekly
bank s t a t e m e n t as a t c l o s e of b u s i n e s s on F r i d a y , August 25, 1916.
s t a t e m e n t i n d i c a t e s an i n c r e a s e f o r t h e week of o v e r 2 . 4
m i l l i o n s i n t h e t o t a l e a r n i n g a s s e t s of t h e b a n k s , a d e c r e a s e of about
5 , 8 m i l l i o n s i n t h e b a n k s ' a g g r e g a t e cash r e s e r v e s , and of river o n e - h a l ^
m i l l i o n i n t h e i r combined gold r e s e r v e s . Of t h e t o t a l d e c r e a s e i n r e s e r v e
a c o n s i d e r a b l e p o r t i o n was t r a n s f e r r e d t o t h e T r e a s u r y and t o F e d e r a l Res
®fy® Agents t o redeem F e d e r a l r e s e r v e n o t e s and t o d e c r e a s e t h e b a n k s ' l i a b i l i t i e s on n o t e s o u t s t a n d i n g . The amount of p a i d - i n c a p i t a l shows an i n c r e a s e of o v e r $ 2 5 0 , 0 0 0 , l a r g e l y t h e r e s u l t of i n c r e a s e d c a p i t a l i z a t i o n of
member banks i n t h e e a s t e r n d i s t r i c t s ,
P h i l a d e l p h i a r e p o r t s an i n c r e a s e of $873,000 i n i t s cash r e s e r v e ^
ue a r g e y t o l i q u i d a t i o n of commercial p a p e r , An e q u a l g a i n i n r e s e r v e
own y t h e San F r a n c i s c o bank i s accompanied by s u b s t a n t i a l i n c r e a s e s i n
Government and bank d e p o s i t s . New Y o r k ' s d e c r e a s e of 5.2 m i l l i o n s i n t o t a l
1S
ca ed a
^
P P a r e n t l y by n e t w i t h d r a w a l s of Government f u n d s and bank
J
d e p o s i t s and t h e t r a n s f e r of g o l d t o t h e Agent t o d e c r e a s e t h e b a n k ' s l i nf i F
f e d e r a l reserve notes issued to i t .
Atlanta reports a decrease
. m i l l i o n s i n i t s t o t a l r e s e r v e , t o g e t h e r w i t h a g a i n of o v e r $600,000
n + w * ? 1 ! ? 6 a f S 6 t S 321(1 a c h a n S ® o f an a d v e r s e t o a f a v o r a b l e b a l a n c e w i t h
other Federal reserve banks,
" '
About 1 / 4 m i l l i o n has been added d u r i n g t h e week t o t h e amount of
th6 banks
u%r
' a 1 1 t h r " s o u t h e r n banks showing g a i n s
u n d e r t h i s h e a d . A c c e p t a n c e s on hand show an i n c r e a s e f o r t h e week of
of
P h i l a d e l p h i a a l o n e showing s m a l l e r h o l d i n g s of t h i s c l a s s
W
on S
q? 321
!
? 6 f 0 r 6 ' 0 f t h e t ° t a l b i l l s - including acceptances -

p r a c t i c a l l y no changes a r e shown i n t h e h o l d i n g s of m u n i c i p a l w a r r a n t s .
.
' E a ™ i n g a s s e t s a g g r e g a t e a t p r e s e n t over 192 m i l l i o n s , or 347 p e r
e
. , , ° t a l p a i d - i n c a p i t a l , as a g a i n s t 344 p e r c e n t t h e week b e f o r e ,
n A t , °
,
^ o;°:
e a r n i n g a s s e t s , a c c e p t a n c e s c o n s t i t u t e 4 2 . 8 p e r c e n t ; U. S«
Trp!! :
? e r °®o t J w a r r a n t s 1 4 . 5 p e r c e n t ; d i s c o u n t s 1 4 . 1 p e r c e n t ; and
•treasury n o t e s 4 , 3 p e r c e n t ,
^

? 9 r e h f S b e f n - a n 6 t i n c r e a s e by about $400,000 i n t h e amount of
i^i ,.
< . ® P 0 S 1 G, a l l t h e w e s t e r n banks and Richmond r e p o r t i n g l a r g e r
v ®
vernment f u n d s t h a n a t t h e end of t h e p r e v i o u s week. Net
s h o w n f d e c r e a s e d about 2 , 7 m i l l i o n s , Boston, New York and S t , L o u i s
showing t h e l a r g e s t d e c r e a s e s u n d e r t h i s h e a d ,
n

+

T

in? thp w O J u d e r r J " J r 0 S ? I T e b a n k n o t 6 S i n c i r c u l a t i o n decreased s l i g h t l y dur$179 ftqp n n h ' f®
Reserve Agents r e p o r t t h e i s s u e t o t h e banks of
thP
° 0 0 , n e t % o f F e d e r a l r e s e r v e n o t e s , an i n c r e a s e of $ 3 , 2 1 8 , 0 0 0 f o r
000
t h i s t o t a l t h e y h o l d $ 1 6 3 , 8 3 4 , 0 0 0 of g o l d L d $ 1 7 , 0 4 8 , 6
^ *
banks r e p o r t $ 1 5 6 , 3 4 5 , 0 0 0 of F e d e r a l r e s e r v e n o t e s i n
ap+ i
i s s u p j !!r51!
a g g r e g a t e n e t l i a b i l i t i e s of $ 1 3 , 7 3 3 , 0 0 0 on n o t e s
i s s u e d t o them by t h e Agents >




,-..j,a

io,' p u b l i c a t i o n Sunday morning August 27, 1916.
Mot e a r l i e r .
778. a
OF COMBINED RESOURCES AND LIABILITIES OF THE TT7ELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS AUGUST 25, 1916

R
G-old
3cId
Gold

L
i
;

E S O U R C E S .
August 25, 1916 August 18, 1916
c o i n and c e r t i f i c a t e s i n v a u l t .
$259,799,000
260,926,000
settlement fund^
110,951,000
110,001,000
r e d e m p t i o n f u n d w i t h United. S t a t e s T r e a s u r e r
1.617.000
1,991,000
Total gold r e s e r v e
372,387,000
372,918,000
Legal t e n d e r n o t e s , s i l v e r , e t c
12.265.000
16,998,000
Total reserve
384,652,000
389,916,000
F i v e p e r c e n t r e d e m p t i o n f u n d a g a i n s t F. R. bank n o t e s , , .
500,000
500,000
B i l l s d i s c o u n t e d and bought - :
M a t u r i t i e s : W i t h i n 10 d a y s . .
12,955,000
8,163,000
From 1 1 t o JO days
27,507,000
29,267,000
" 31 t o 60 days
42,781,000
42,400,000
" b l t o 90 days
23,548,000
24,584,000
Over 90 d a y s .
2.187.000
2,480,000
Total.
109,178,000
106,894,000
I n v e s t m e n t s : U n i t e d S t a t e s bonds
46,796,000
47,029.000
One-year United S t a t e s Treasury n o t e s . . . . . . .
8,205,000
7,885,000
Municipal w a r r a n t s . . .
2 7 . 8 6 l , 000
27,788,000
Total earning assets
192,042,000
189,596,000
F e d e r a l r e s e r v e n o t e s - Met
21,222,000
19,887,000
Due from F e d e r a l r e s e r v e banks — N e t .
21,654,000
21,068,000
All other resources
1.541.000
3,226,000
(TOTAL RESOURCES.
$623,611,000
624,193,000
L I A B I L I T I E S .
Capital paid in
$55,363,000
55,110,000
Government d e p o s i t s . . .
50,099*000
49,717,000
Member bank d e p o s i t s — Net
....
502,421,000
505,090,000
F e d e r a l reserve* n o t e s — N e t . .
*
13,733,000
12,295,000
F e d e r a l r e s e r v e bank n o t e s i n c i r c u l a t i o n .
1,690,000
1,691,000
All other l i a b i l i t i e s
105,000
290,000
TOTAL LIABILITIES
$623,611,000
624,193,000
Gold r e s e r v e a g a i n s t n e t d e p o s i t and n o t e l i a b i l i t i e s (A)
68.4$
68.3$
Cash r e s e r v e a g a i n s t n e t d e p o s i t and n o t e l i a b i l i t i e s (A)
70«6$
71*%
Cash r e s e r v e a g a i n s t n e t 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 a g g r e g a t e n e t l i a b i l i t i e s
71-liy^
72.1$
_on F e d e r a l r e s e r v e n o t e s i n _ c i r c u l a t i o n _ ( A ) _ l • _l - jl •
(a) Less items i n t r a n s i t between F e d e r a l r e s e r v e b a n k s , v i z : $21,654,000
21,068,000




May 26, 1916
242,985,000
91,991,000
2,161,000
337,139,000
21,972,000
359,111,000
450,000

F e b r u a r y 25, 1916
262,491,000
76,435,000
1.512.000
340,438,000
17,678.000
358,116,000 .
50,000

August 27, 1915
-211,145,000
55,930,000
1,104.000
268,179,000
19.878.000
288,057,000
...

9,471,000
18,064,000
24,748,000
17,122,000
3, 668, 000
73,073,000
51,9^2,000
3,840,000
44,946,000
173,801,000
26,433,000
16,512,000
, 9,0^3iPOP
585,350,000

7,477,000
11,750,000
16,758,000
13,630,000
2,266.000
51,881,000
29,6)2,000

4,445,000
10,658,000
17,209,000
8,582,000
1,945.000
42,839,000
8,836,000

25,401,000
106,916,000
23,793,000
13,274,000
11,151,000
513,500,000

25,808.000
77,483,000
12,491,000
6,990,000
4,962.000
389,983,000

54,875,000
44,131,000
476,680,000
7,706,000
1,732,000
226,000
585,350,000
.
65.8$
70.1$
20.6^
16,512,000

54,897,000
32,501,000
4l6,566,000
9,386,000

54,689,000
• ... ...
3^-6,989,000
16,738,000

150,000
513,500,000
76-5$
80.4$

1,567.000
389,983,000
82.1$
88.2$

81-3$
13,274,000

2.0.8^
6,990,000

^^-oa.s jd t o r p u b l i c a t i o n Sunday morning August 2~J, l $ l 6 . Hot e a r l i e r .
778 b«
WEEKLY STATEMENT OF RESOURCES AMD- LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 25, 1916.
"—r( I n t h o u s a n d s of d o l l a r s )
R E S O U R C E S .
Boston
H. Y.
P h i l a . C l e v e l .Richm. A t l a n t a Chicago S t . L o u i s M innI s . Kas.Cy. D a l l a s . S . F r a n . TOTAL
G-oDd coin and c e r t i f . i n v a u l t
$9,3°3 147,557 10,833 14,359
5,055
5 , 8 5 5 35,67#
5,425
6,276
4,210
5,366
9,886
259,799
Gold s e t t l e m e n t fund
16,466
11,077 1 7 , 2 5 1
9 , 2 1 8 11,637
1,058 16,579
4,343
3 , 4 3 1 10,446
4,4-24
5,021
110,951
Gold redemption f u n d
5
£52
50
20
451
125
200
19
10
ll4
34l
10
Total gold r e s e r v e
2 5 , 7 7 4 158,884 28,134 23,597 17,143
7 , 0 3 s 52,453
372,387
9,787
9 , 7 3 7 14,790 10,133 14,917
Legal t e n d e r notes^, s i l v e r , e t c *
208
762
61
1,101
617
5,625
52
12,265
426
163
1.144
l , 20'7,
903
Total reserve
25,982 164.509 28,896 24.698 17,306
8 , 2 4 1 53,356 10.931 10,163 1 4 , 8 5 1 10,750 14,969
384,652
— —
J/o rederr.pt % f u n d - F.R+bank n o t e s
400
100
500
B i l l s d i s c o u n t e d - Members
664
869
290
1,918
7,188"
274
27,032
3,660
883
1,855
519
6,037
2,875
B i l l s bought i n open market
29.422
10,390
9,969
1,005
82,146
7.001
549
3,109
6,954
5,586
5,683
725
1,751
T o t a l b i l l s on hand
11,259
30,086 10,259
4,964
2,923
7,277
6,762
6,469
7,473
5,411
7,737
8,558
I n v e s t m e n t s : U. S . bonds
2, 220
2,681
2,992
2,890
2,634
9,647
2,724
46,796
1,129
1,508
5,579
3,399
9,393
One-year U. S* T r e a s . n o t e s
2,282
818
250
616
820
684
760
8,205
529
526
350
570
Municipal w a r r a n t s
2,890
1,044
7,276
2,550
4,§91
1,822
166
2,334
27,863
4,755
336
399
Total earning a s s e t s
4 1 , 8 6 4 16,517 1 8 , 3 7 1
17,391
192,042
8,911
7 , 6 l l 22,242 11,585
9,757 13.585 10,947 1 3 , 2 6 1
F e d e r a l r e s e r v e n o t e s ~ Net
910
14,015
1
,
4
8
4
426
21,222
1
,
7
0
4
384
1,300
999
Due from o t h e r F . R. banks - Net
4in
3,287
(a)21,654
1
,
9
8
1
568
196
320
1, 278
1,789
3,194
7,815
3,H5
All other resources
116
362
101
123
196
228
4ll
167
390
544
518
383
3,541
TOTAL RESOURCES
- 4 4 , 8 1 1 224,037 45,920 47,079 26,580 17,648 8 5 , 1 2 4 27,174 22,293 3 0 , 8 2 1 22,500 31,923
623,611
—

•mm-

s
y
CO

- —

—v

—-

L I AB I L I T I E S .
C a p i t a l paid in
Government d e p o s i t s
Member b a r k d e p o s i t s - Met
F e d e r a l r e s e r v e n o t e s - Met
FN Ro bank n o t e s In c i r c u l a t i o n
Due t o o t h e r F . R. banks - iMct
All other l i a b i l i t i e s
TOTAL LIABILITIES
H E M0 R A MD U H
F. R. n o t e s i s s u e d t o t h e banks
F, R., n o t e s i n hands of banks
F* K, n o t a s i n c i r c u l a t i o n
Oolti and l a w f u l money w i t h Agent
C a r r i e d bo n e t a s s e t s
Carried to net l i a b i l i t i e s

I




5,023
3-, 246
36,429
^

—

11,596
12,877
199,564
—

-

—

—

113
44,811

224,037

10,158
910
9,248
10,158
910

69,3^5
14,015
55,330
69,3%5
14,015

—»

—

—

5,221
b,6l5
31,719
—"

5,995
2,064
39,020

—

2,299
66
45,920

47,079

7,410
9,438
426
384
7,026
9,012
7,410 ' 9,438
426
384

3,363
3,662
14,865
4,577
113
26,580

2,490
3,071
10,708
1,366
13
17,648

6,675
5,731
72,718
—

—

2,791
4,446
19,937
—

—

85,124

*

•—

V"

27,174

2,589
992
18,712
—•

—

—

—

22,293

6,257 12,885
1,704
999
"5,258 1 1 , 1 8 1
6 , 2 5 7 12,885
—
—
—
—
1,704
999
1,366
—
—
—
•—
—
—
— —
'r~ ~~
4,577
( a ) Items i n 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 amounts due t o
—

—

—

—

9,419
693
8,726
4,149

13,236
634
12,602
11,236

3,358
1,300
2,058
3,358
1,300

3,007
1,342
23,504
1,278
1,690
—

—

2,691
2,227
11,070
6,512
w

—•

—

—'

3,922
3,826
24,175
—*
mm

mm

—

30,821

22,500

31,923

12,864
502
12,362
11,084

15,930
442
15,488
8,976

9,538
1,484
8,054
9,538
1,484

55,363
50,099
502,421
13,733
1,690
305
623,611

179,838
23,493
156,345
163,834
—
—
21,222
—
—
1,278
6,512,
13,733
other Federal reserve tanks.

dead f o r p u b l i c a t i o n Sunday rooming August 2 7 , 1916.
STATEMENT OF
Boston
Federal reserve notes:
Received from the Comptroller

$20,380

FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS" AUGUST 25, 1916
( I n t h o u s a n d s of d o l l a r s )
Phila,

Clev.

17,000

20,400

9,380

9,600

19,000

16,620

25,080

13,320

302,660

4,402

38,595

4,350

2,422

4,831

2,838

1,141

1,581

485

1,383

3,187

982

66,197

15,978

82,645

11,130

12,738

12,169

17,562

8,239

8,019

18,515

15,237

21,893

12,338

236,463

5,820

13,300

3,720

3,300

2,750

4,326

4,881

1,762

5,630

2,373

5,963

2,800

56,625

10,158

69,345

7,410

9,438

9,419

13,236

3,358

6,257

12,885

12,864

15,930

9,538

179,838

9,700

64,816

4,090

8,840

-

2,850

10,920

4,270

7,940

458

4,529

430

598

Credit balances:
In gold r e d e m p t i o n f u n d
W i t h F e d e r a l R e s e r v e Board

2,890

10,158

Amount of commercial p a p e r d e l i v e r e d
t o F e d e r a l R e s e r v e Agent

(

69,345
~

7,410
~

~

1,370

-

114,796

449

1,466

278

357

615

714

806

438

11,138

3,700

8,400

3,080

3,050

1,350

6,100

230

9,100

37,900

5,270

2,000

1,780

6,954

-

16,004

9,438

9,419

13,236

12,864

15,930

~

6,001

2,003

1,850

7,194

-

-

As s e c u r i t y f o r o u t s t a n d i n g n o t e s :
Commercial p a p e r




TOTAL

15,160

. Amounts h e l d by F« R. Agent
i n r e d e m p t i o n of l i a b i l i t y on
outstanding notes:
On h a n d :
Gold c o i n and c e r t i f i c a t e s

TOTAL

Richm. A t l a n t a Chicago S t . L o u i s M i n n l s . Kas.Cy. D a l l a s S . F r a n .

15,480

In hands of F . R. Agent
I s s u e d t o F , R. Bank l e s s
amount r e t u r n e d t o F . R,
Agent f o r r e d e m p t i o n

778—c

121,240

Returned to the Comptroller
C h a r g e a b l e t o F , R, Agent

N. Y.

Not e a r l i e r .

~

3,358
-

-

6,257
-

-

12,885
-

-

9/538
-

-

179,838
17,048