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CIRCULAR NO. 6 I . ( C£ea< FEDERAL RESERVE BANK OF N E W YORK NEW YORK, January 12, 1917. To the Stockholders of the Federal Reserve Bank of New York: We take pleasure in presenting herewith a statement of condition of the Federal Reserve Bank of New York at the close of business December 30, 1916, together with the profit and loss account for the year just ended. A full account of the activities of the bank for the year will be found in the second annual report of the Chairman of the Board of Directors, which is shortly to be published. We thank the member banks for their cooperation during the past year, and extend to them our best wishes for their prosperity in 1917. R. H. TREMAN, Deputy Governor. S T A T E M E N T O F C O N D I T I O N D E C E M B E R 3 0 , 1916. RESOURCES Loans and discounts Bills discounted for member banks Acceptances purchased Municipal warrants United States bonds United States 1 year Treasury notes $ 7,071,158.55 41,457,184.04 972,311.62 1,042,550.00 1,205,000.00 $ 51,748,204.21 159,321,257.50 20,570,000.00 250,000.00 11,188,200.00 4,077,274.80 195,406,732.30 13,865,897.46 23,077,418.64 2,503,168.21 12,501.88 235,598.86 8,753.52 39,703,338.57 Reserve Cash Gold coin and certificates Gold Settlement Fund Gold Redemption Fund for Federal Reserve Notes Legal tender notes Silver certificates and coin Other Resources Federal reserve notes and other cash on hand Items in process of collection Exchanges for Clearing House and cash items Interest accrued on United States bonds Cost of unissued Federal reserve notes Expenses paid in advance, etc Total Resources $286,858,275.08 LIABILITIES Capital fund Capital paid in Profit and loss $ 11,865,750.00 163,063.98 $ 12 028,813.98 3,571,391.94 237,907,354.87 18,552,984.84 12,373,721.91 2,085,975.49 188,275.81 274,679,704.86 Deposits Due to United States Government Due to member banks—reserve balances " —uncollected funds Due to other Federal reserve banks—collected funds " ' " —uncollected funds Cashier's checks outstanding Other liabilities Unearned discount 149,756.24 Total Liabilities Gold with Federal reserve agent to reduce liability on outstanding Federal reserve notes (not included in reserve cash above.) $286,858,275.08 Net deposits Reserve required 3 5 % Reserve carried 78.4% $107,003,765.00 $249,099,118.01 87,184,691.30 195,406,732.30 PROFIT AND LOSS ACCOUNT Gross earnings year 1916 $983,609.22 Expenses year 1916 557,420.21 Net earnings year 1916 426,189.01 Items charged off at close of year Deficit from year 1915 $ 111.22 Organization expenses 72,289.96 Furniture and equipment 63,442.17 Premium on U. S. bonds and notes bought and miscellaneous items Net earnings after deductions 168.67 136,012.02 290,176.99 Dividend Nov. 2,1914, to Mar. 31,1915, paid Dec. 30,1916, 127,113.01 • Profit and loss, January 1,1917, credit balance, $163,063.98 fcl OFFICERS Bl NJAMIN STk' inor R. H. TRKMAN, Deputy Governor W M . WOODWARD, Deputy Governor J. F . CURTIS,Secretary- ami Counsel L F. SAII I k, < .i-lii«T L. H. HENDRK KS, Assist.nit ( ashier E. R. KENZKI., Assistant Cashier J. D. HIGGINS, Assistant Cashier H. If. JEFFERSON, Auditor DIRECTORS PIERRE JAY, New York City GEORGE F. PEABODY, Saratoga Springs, N. V. Chairman and Federal Reserve Agent Deputy Chairman and Deputy Federal Reserve Agent F. D. LOCKE, Buffalo, N. Y. H. R. T O W N E , New York City L. R. PALMER, Croton-on-Hudson, N. Y. R. H. TREMAN, Ithaca, N. Y. CHAS. STAREK, New York City YY. B. THOMPSON, Yonkers, N. Y. WM. WOODWARD, New York City MEMBER FEDERAL ADVISORY COUNCIL J. P. MORGAN, New York City
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