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' 821
R e l e a s e d f o r p u b l i c a t i o n Sunday mbrning October 1, 1916.
Not e a r l i e r ,
STATEMENT FOR THE PRESS.
s e p t , 30, 1916,
. A d d i t i o n s of over 8 3 / 4 m i l l i o n s t o t h e gold r e s e r v e s of t h e F» R.
banks, due l a r g e l y t o l i q u i d a t i o n of e a r n i n g a s s e t s , a r e i n d i c a t e d by t h e r e g u l a r weekly bank s t a t e m e n t of t h e F e d e r a l Reserve coard made p u b l i c today as
a t c l o s e of b u s i n e s s on F r i d a y , September 2$, 1916* A l l t h e banks e x c e p t
New York, Chicago and San F r a n c i s c o r e p o r t s u b s t a n t i a l g a i n s of g o l d , m a i n l y
t h r o u g h t r a n s f e r s on t h e books of t h e gold settlementV^-^^ew Y o r k ' s s l i g h t dec r e a s e i n gold r e s e r v e i s more t h a n o f f s e t by i t s g a i n of s i l v e r ,
The bank
r e p o r t s t h e l i q u i d a t i o n during t h e week of 3 , 9 m i l l i o n s of p a p e r and U. S.
s e c u r i t i e s , a l s o t h e change of a f a v o r a b l e t o an a d v e r s e b a l a n c e i n account
w i t h # t h e r F e d e r a l Reserve banks as a g a i n s t net w i t h d r a w a l s of almost 10 mi1l i o n s of d e p o s i t s , Philadelphia's gain of $660,000 i n t o t a l r e s e r v e i s due
p r i m a r i l y t o i n c r e a s e d d e p o s i t s , o f f s e t t o a l a r g e e x t e n t by a d e c r e a s e in i t s
n e t balance due t o o t h e r F e d e r a l Reserve banks. A g a i n of about 1 - 4 m i l l i o n s
in t o t a l r e s e r v e shown f o r t h e Cleveland bank i s t h e combined r e s u l t of an
i n c r e a s e by over 2 , 4 m i l l i o n s in t o t a l n e t d e p o s i t s , t h e l i q u i d a t i o n of about
0*9 m i l l i o n of p a p e r and s e c u r i t i e s on t h e one hand and an i n c r e a s e by 1*9
m i l l i o n s i n t h e n e t b a l a n c e due from o t h e r F e d e r a l Reserve b a n k s , Gains i n
r e s e r v e r e p o r t e d by t h e Richmond and S t , Louis banks a r e t r a c e a b l e in t h e
main t o i n c r e a s e s i n net d e p o s i t s , while M i n n e a p o l i s ' i n c r e a s e i n cash r e s e r v e
i s accompanied by a c o n s i d e r a b l e r e d u c t i o n in i t s n e t b a l a n c e due from o t h e r
F e d e r a l Reserve banks, a l s o t o some i n c r e a s e in n e t d e p o s i t s ,
A l l c l a s s e s of e a r n i n g a s s e t s show s m a l l e r t o t a l s t h a n a t t h e end of
t h e immediately p r e c e d i n g week. Discounted paper on hand d e c l i n e d about 1*75
m i l l i o n s , D a l l a s , Richmond and Chicago r e p o r t i n g t h e l a r g e s t d e c r e a s e s • Of
t h e t o t a l d i s c o u n t s about $800,000 i s the amount advanced by t h e r e s e r v e
banks on member banks* own n o t e s , secured by e l i g i b l e c o l l a t e r a l .
Acceptances on hand show a decrease of about 3*3 m i l l i o n s f o l l o w i n g the
l i q u i d a t i o n of c o n s i d e r a b l e amounts of b a n k e r s * paper by t h e 4 E a s t e r n
banks, Of t h e t o t a l b i l l s i n c l u d i n g a c c e p t a n c e s on hand 4 l , $ p e r cent mat u r e w i t h i n 3O days and 34*3 P e r cent - a f t e r 30 but w i t h i n 60 days. T r a n s a c t i o n s i n Government s e c u r i t i e s are r e p o r t e d by 9 banks, r e s u l t i n g i n a
d e c r e a s e by over 1 m i l l i o n in the amount of U. S. bonds and of 1 . 1 m i l l i o n s
i n t h e t o t a l of Treasury n o t e s h e l d . The t o t a l of m u n i c i p a l w a r r a n t s i n t h e
hands of t h e banks underwent but l i t t l e change, though almost a l l the banks
r e p o r t t r a n s a c t i o n s under t h i s head. Aggregate e a r n i n g a s s e t s decreased
about 7 ' 2 m i l l i o n s and c o n s t i t u t e at p r e s e n t 332 p e r c e n t of t h e banks 1
p a i d - i n c a p i t a l , as a g a i n s t 34$ per cent t h e week b e f o r e , Of t h e t o t a l
e a r n i n g a s s e t s 43*8 p e r c e n t i s r e p r e s e n t e d by a c c e p t a n c e s , 25*3 P e r c e n t
by U. S, bonds; l 4 , l p e r cent - by d i s c o u n t s ; 13 per c e n t by w a r r a n t s , and
3*8 p e r c e n t by Treasury n o t e s •
Government d e p o s i t s show a d e c l i n e of about 1 m i l l i o n , Chicago, Kansas
C i t y and San F r a n c i s c o r e p o r t i n g c o n s i d e r a b l e net w i t h d r a w a l s of Government
f u n d s f o r t h e week. Net member bank d e p o s i t s i n c r e a s e d about 3*3 m i l l i o n s ,
a l l t h e banks e x c e p t Boston, New York and San F r a n c i s c o showing l a r g e r n e t
t o t a l s t h a n t h e week b e f o r e .
F e d e r a l Reserve bank n o t e s in c i r c u l a t i o n a r e now i n e x c e s s of 3 m i l l i o n s . The t o t a l of F e d e r a l Reserve n o t e s issued t o the banks i s given as
$213,967,000, an i n c r e a s e of $4,189,030 d u r i n g t h e week. Against t h i s
t o t a l t h e Agents hold $197,572,000 of gold and $17,054,030 of p a p e r . The
banks r e p o r t a t o t a l of $196,538,000 of F e d e r a l Reserve n o t e s i n a c t u a l c i r c u l a t i o n and a g g r e g a t e l i a b i l i t i e s of $ 1 3 , 2 1 6 , 0 0 0 on n o t e s i s s u e d t o them
by t h e Agents.
1
#
Released f o r p u b l i c a t i o n Sunday morning October 1, 1916.
a
Nut e a r l i e r .
STATEMENT OF COMBINED RESOURCES AND L I A B I L I T I E S OF THE TVZELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLCSBE OF BUSINESS SEPTEMBER 2 9 ,
RESOURCES,
Gold c o i n and c e r t i f i c a t e s in v a u l t
Gold s e t t l e m e n t fund
Gold, redemption fund w i t h United S t a t e s T r e a s u r e r .
T o t a l gold r e s e r v e . .
;
Legal t e n d e r n o t e s , s i l v e r , etc
T o tal r e s e r v e
Five p e r c e n t redemption fund a g a i n s t F . R» bank n o t e s
B i l l s discounted and bought:
M a t u r i t i e s : Within 10 days
From 11 t o 30 d a y s . . .
•
From 31 t o 60 days
From 61 t o 90 days.
Over 90 days,
.
TotalI n v e s t m e n t s : United S t a t e s bonds
One-year United S t a t e s Treasury n o t e s .
J
Municipal w a r r a n t s
..
T o t a l earning a s s e t s
•
F e d e r a l r e s e r v e n o t e s - Net.'
Due from Federal reserve banks - Net.
All other resources
TOTAL RESOURCES. .
September 29,1916
$260,845,000
124,421,000
1,929,000
387,195,000
* 7,811,000
395,006,000
500,000
3
September 22,1916
258,711,000
117,791,000
1,941,000
378,443,000
7 ,642,00 0
386,085,000
500,000
1916.
June 30, 1916
262,0)8,000
112,931,000
1,789,000
376,758,000
27 ,448,000
404,206,000
4-50,000
March 31, 1916
258,052,000
75,640,000
1,548,000
335,240,000
9,938,000
345,178,000
250,000
October 1, 1915
227,274,000
55,180,000
1,20.2,000
283,656,000
16,493,000
300,149,000
. . . .
21.408,000
23^ 245', 000
36,527,000.
23.882,000
l', 516,000
106,575,000 . "
46,544,000
6,927,000
24,028,000
184,077,000
14,250,000
31,365,000
7,543',000
24,378,000
24,238,000
37,893,000
23,594,000
1,487,000
111,590,000
47,553,000
8,039,000
24,117,000
191,319,000
16,080,000
29,266,000
8,451,000
11,451,000
16,539,000
28,492,000
30,614,000
5,187,000
92,283,000
52,939,000
4,190,000
22,671.000
172,083/000
23,182,000
20,4l4,0C0
4,622.000
7,126,000
11,721,000
21,409,000
19,453,000
1,966,000
61,675,000
40,275,000
. . .
33,015,000
1)4,965,000
25,118,000
13,128,000
4,725,000
5,765,000
12,267,000
15,790,000
9,606,000
1,452,000
44,880,000
9,329,000
. . .
27^381,000
81,590,000
15,378,000
11,194,000
3,326,000
632,741,odo
631,701,000
624,957,000
523,364,000
411,637,000
55,423,000
39,947,000
518,456,000
14,605,000
2,914,000
356,000
631,701,000
69.6%
71*0%
54,854,000
101,152,000
457.»503,000
9,440,000
1,721,000
287,000
624,957,000
68.8%
73-8%
54,888,000
38,469,000
419,987,000
8,903,000
964,000
153,000
523,364,000
73* 8%
76.0%
54,728,000
15,000,000
324,884,000
14,359,000
. . .
2,666,000
411,637,000
82-7%
87.5%
L I A B I L I T I E S .
C a p i t a l -fcaid i n
CTOVOJ
deposits..
Med.*:- byik d e p o s i t s - N e t . .
' F e d e r a l r e s e r v e n o t e s - Net
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
All other l i a b i l i t i e s :
55,393,000
38,985,000
521,740,000
13,216,000
3^035,000
374,000
TOTAL L I A B I L I T I E S
$ 633,741,000
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 ) . .
71,4%
Cash 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 ) . .
72.8%
Cash r e s e r v e 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
asid& 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
,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 ) ^ . J L - J L . J L . ^ . ^ . ^ . J .
73.6%
T 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 banks, v i z . $ 3 1 , 3 6 5 , 0 0 0
.
71-2/"
29,266,000
l4_.4%
20,414,000
l&jJi
13,128,000
89.6%
11,194,000
'
Fleasod f o r p u b l i c a t i o n Sunday morning October 1, 1916.
Not e a r l i e r
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 29, 1916.
( i n thousands of d o l l a r s )
R E S O U R C E S .
Boston
N. 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 i n n l s . Kas.Cy
P a l l a s S.Fran.
Total
Gold c o i n and c e r t i f . i n v a u l t
$8,219 157,324 •11,721
14,587
5,098
i
.
3,878 29,838
6,037
5,903
4,140
3 , 3 1 1 10,789 260,845
Gold S e t t l e m e n t Fund
15,618 11,719
16,588 1 3 , 0 8 1 1 3 , 7 1 8
3,040 19,623
3,401
5,289 10,736
5,995
5,613 1 2 4 , 4 2 1
Gold Redemption Fund
5
250
50
86
439
241
200
80
30
121
417
10
1.929
T o t a l Gold Reserve
23,842 169,293
28,359 27,754 19,255
7,159 49,661
9,518 11,222 14,997
9 , 7 2 3 16,412 387,195
Legal t e n d e r n o t e s , s i l v e r , e t c .
140
3,293
291
1.018
78
575
805
1.132
203
22
223
31
7.811
Total reserve
23,982 172,586
38,650 28,772 19,333
7,734
11,425 15,019
9,946 16,443 395,006
. .
5% r e d s c r o t . f u n d . - F, R bank n o t e s . .
400
»
*
100
500
806
B i l l s diocountod - members
782
124
639
5,268
3,906
2.447
2,092
1,882 1,615
6,039
353
25,953
10,245 24^529
B i l l s bought i n open market
11,385
6.563
2.346
3,127
5,647
5,543
3,051
1,416
144
6.628
80,625
T o t a l b i l l s on hand
11,052 25,311
11.509
7,202
7,614
-&P33
8.094
7.63 5
4,933
3.031
6,183
6 . 9 8 1 106.578
I n v e s t m e n t s : U.-S„ Bonds
2,922
2,. 728
-2,662 6,254 1,019
1,508
8,303
2,694
3,307
9,617
2,896
2,634
46,544
250
One-year U, S c T r e a s . n o t e s
250
818
760
684
526
850
570
350
616
529
724
6,527
4,532
.4,873
Muni <•{'• 9.1 warr a n t s
2,386
2.652
86
289
4,138
1.510
1.277
359
1.926
24.028
To tail e a r n i n g as 5 tits
—33_,;i52
17,375 16.868
9,403
9.356 21.385 12.409
9 1867 13.623
9 , 6 0 8 12,265 184.077
759
F e d e r a l r e s e r v e n o t e s - Net
8,313
465
406
1,410
1,341
1,556
14,250
Due from o t h e r F , R. b-anks - Net 2 670
.4,269
1,374
57 12,524
7,430
841
.3,322 J , 0 1 1 ( ^ ) 3 1 , 3 6 5
74,
5,249
;All o t h e r r e s o u r c e s
205
256
62
172
37?
215
787
186
516
154
7,543
<
TOTAL RESOURCES
4Q..*„,341 2j.9,_3lO . 46,695—50,571—30,172 17,319 86,162 30.704 23,551 30,377 22,492 3 1 . 4 9 1 632!741
L I A B I L I T I E S .
Capital paid in
Government d o p c s i t s
r • b ank- dop os i t s •- Not
I'v-'era.', .*-es.-:rve. n o t e s - Net
F. S, liar.'k n o t e s in c i r c u l a t i o n
Not
Due to 0'.,r..-::v 1?„ R e banks
liabilities
TOTAL LIABILITIES
5,024 1 1 , 6 0 3
5. 673
3,2.35
37.833 201,430
3.222
6,029
33,617
5,997
2,141
42,433
605
148
46>341—219,310
1,739
88
46^695
MEMORANDUM.
F . R, n o t e s i s s u e d t o t h e banks 10,337
78,414
F, R. n o t e s i n hands of banks
759
8,313
9 578
F . R. n o t e s i n c i r c u l a t i o n
>
70,101
Gold and l a w f u l money w i t h Agent 10,337
78,414
Carried to net a s s e t s
759
8,313
t
o
n
e
t
l
i
a
b
i
l
i
t
i
e
s
^Carried
\a.) items m t r a n s i t i . e .
7,606
465
7,141
7,606
465
3,325
4,018
17.950
4*763
2,491
3,858
9,883
1,065
50,571
116
30,172
22
17.319
9,121
12,536
19,040
1,687
17.353
406
8,715
9,121
406
t o t a l amounts
6,687
3,124
76,351
. .
. .
2,794
3,781
21,789
2,340
.. .
2,597
1,084
19,870
. .
. .
3,043
1,040
24,101
1,160
1,033
2,691
2,186
11,727
3,888
2,000
3,920
2,815
24,756
. .
. .
55,393
38,985
521.740
13,216
3,033
8 5 J . 6 2 ~ 30,704
23.551
30.377
22.492
31.491
374
632.741
13,781
1,341
12.440
13,781
1,341
17,062
540
16.522
15,362
23,730 10,106 213 967
198
1.556
17^429
12.229
23.532
8. 550 _ 196,538
7,466 16,288
19,644 10,106 197,572
. .
1,556
14,250
4.763
1.065
2.340
1JL60
3.888
. .
13.216
due from l e s s t o t a l amounts due t o o t h e r F e d e r a l r e s e r v e banks
307
3,325
1.410
1,915
3,325
1,410
8,909
447
8.462
6,122
idpL
i o r p u b l i c a t i o n Sunday morning October 1 , 1916.
Not e a r l i e r .
821 c
STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER 29,
1916,
( I n t h o u s a n d s of d o l l a r s )
Boston
F e d e r a l Reserve N o t e s :
Received from t h e C o m p t r o l l e r
N. Y.
$20, 380. 1 4 3 , 4 0 0
Phila. Clevel.
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
15,480
15,160
.20,000
26,660
9,380
12,600
21,000
22,620
33,600
13,880
354,160
5,523
40,426
4,834
2,739
5,314
3,126
1,174
1,929
589
1,605
3,569
1,214
72,042
Chargeable t o F . R,. Agent
'14,85?
102,974
10,646
12,421
14,686
23,534
8,206
10,671
20,411
21,015
30,031
12,666
282,118
I n hands of F . R. Agent ,
4, 520
24,550
3,040
3,300
2,150
4,494
1,762
6,630
3,953
6,301
2,560
68,151
I s s u e d t o F , R„ Bank l e s s
ivnnunt r e t u r n e d t o F„ R„
Agont f o r redemption
4,881
//
10,337.
78,414
7,606
9,121
12,536
19,040
3,325
8,909
13,781
17,062
23,730
10,106
213,967
9,700.
75,715
3,820
8,540
3,063
11,620
4,270
10,340
2,„ 699
366
581
Returned t o t h e C o m p t r o l l e r
Amounts h e l d by F . R» Agent
i n r e d u c 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
Credit balances:
In gold redemption.fund
637
With F e d e r a l Reserve Board
•
•
3,420
*
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
10,337
78,414
7,606
9,121
131,628
416
1,178
245
549
811
692
1,224
366
9,764
7,050
10,550
3,080
2,510
1,350
10,400
8,080
9,740
56,180
•
2,787
•
1,700
4,086
3,325
8,909
17,062
23,730
5,070
Amount of commercial p a p e r d e l i v e r e d
4 , 560
12,536
2,752
19,040
*
13,781
16,395
10,106
213,967*
t
5,157
2,762
2,788
1,899
4,448
17,054
@FedFRASER