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Released for publication Sunday morning June 4, 1916« Not earlier - 679, STATEMENT FOR THE PRESS. June 3, 1916. The Federal Reserve Board made public today its regular weekly bank state ment as at close of business on June 2, 1916. The statement indicates in creases during the week of about 9.2 millions in the gold holdings of the banks, and of 1.1 millions in their total reserves. Earning assets de creased 7.6 millions; net bank deposits, 16.3 millions; while Government de posits increased about 5.9 millions. The reserve condition of the banks accordingly shows greater strength than the week before. Considerable gains in gold reserve are reported by the Boston, New York, Chicago and San Francisco banks* In the case of the Boston and Chicago banks this gain is due apparently, for the most part, to liquidation of municipal warrants and increases in Government deposits; in the case of the New York bank the effect of these two factors is largely offset by the large decline in the net amount of bank deposits, San Francisco reports the return to the bank of over 2 millions of gold following the redemption of Federal re serve notes by the Federal Reserve Agent. Reserves other than gold de clined about 8.1 millions, largely the result of the decrease shown by the New York bank. Some of this I 033 i3 offset by an increase of 4.6 millions in the bank’ s gold reserve. Discounted paper on hand decreased about 6 week, all the banks more active in the discount field/reporting smaller figures than the week before. Acceptances in the hands of the banks show, an increase of about 0.8 million, mainly at the New York Bank. Of the total bills held 42 per*cent matured within 30 days and about 33 per cent after 30 days but within 60 days. Nearly 20 per cent of all discounts held by the banks was agricultural and live-stock paper maturing after 90 days, Dallas alone reporting over 1.5 millions of this class of paper. Purchases of United States bonds are reported by two banks. The Atlanta bank for the first time reports the results of bonds converted at the beginning of the month, showing a decrease of $350,000 in its bond holdings and a correspond ing increase in the amount of United States notes on hand. Municipal war rants on hand decreased about 8.3 millions, New York, Boston and Chicago reporting thb largest amounts of liquidation under this head. The total earning assets of the banks, for the first time since Jan uary of the present year, 3how a decrease for the week, and constitute 303 per cent of the paid-in capital as compared with 317 per cent at the end of the preceding week. Of the total earning assets acceptances comprise 32*2 per cent; United States bonds, 31,3 per cent; warrants, 22.0 per cent; discounts 12,0 per cent; and Treasury notes 2.5 per oent. Considerable increases in Government deposits are reported by the three Eastern banks, al30 by Chicago and San Francisco. With the exception of Atlanta and Minneapolis, all the banks show smaller net bank deposits than the week before. In the case of Boston and New York, the reduction in bank deposits is due mainly to the large amounts of exchanges for the Clear ing Houses on hand, which are treated as a deduction from bank deposits. There has been practically no change in the amount of Federal reserve bank notes outstanding. Federal Reserve Agents report $184,217,000 of Federal reserve notes outstanding, against which they hold $175,205,000 of gold and $10,611,000 of paper. The banks show a total of $158,635,000 of reserve notes in circulation. Their liability on Federal reserve notes issued to them b / the Agents is given as $7,512,000. Released for p u b l i c m o r n i n g June 4, 1916. Not Earlier. --o'. ^STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS JUNE 2, 1916. R E S O U R C E S . Gold coin and certificates in vault.......................... Gold settlement fund..................................................... Gold redemption fund with United States Treasurer. Total gold reserve................................................ Legal tender notes, silver, etc................................. Total reserve............................................ . ......... Bills discounted and bought : Maturities : Within 10 days................................. . From 11 to 30 day3........................ " 31 to 60 days........................... " 61 to 90 days.......................... . Over 90 days................................... . Total......... ............................................................ United States bonds............................................ Investments: One-year United States Treasury notes.......... _ Municipal warrants............................................. ^ Total earning, a s s e t s . . . . . . . ............................. ................ Federal reserve notes - Net........................................................ Due from Federal Reserve Banks - N e t . . . . . .................... . All other resources............................................... .................— TOTAL RESOURCES..................................................................... L I A B I L I T I E S . Capital paid in............................................................................. . Government deposits.................................................... . Reserve deposits- N e t ................................................................. Federal Reserve notes- Net......... ........................................ — , Federal reserve hank notes in circulation.................. ........... All other l i a b i l i t i e s .......................................................... . TOTAL LIABILITIES.................. ............................................ 2.1516 —Juna -----^ Gold reserve against net-deposit and note liabilities (A)-., Cash reserve against net-deposit and note liabilities ( a )., Cash reserve against net deposit liabilities after setting aside 40$ gold reserve against aggregate net liabilities Federal Reserve notes in circulation(A ) .................... . (A) Less items in transit between F.R^Brjiks, v iz: $242,253,000 102,331,000 1.793.000 346,377,000 13.855.000 360,232,000 Mav IQIfi 242,985,000 91,991,000 2.163.000 337,139,000 21,972,000 359,111,000 MawVi 3 1Q1A 261,822,000 74,890,000 1.538.000 338,250,000 12,994,000 351,244,000 IloMmter 3 244,329,000 79,700,000 1.252.000 325,181,000 32,681,000 357,862,000 11.607.000 19.227.000 24.094.000 14.582.000 3.877.000 73.387.000 51.991.000 4,190,000 36.633.000 166,201,000 24.082.000 15.300.000 8.932.000 $574,747,000 9.471.000 18.064.000 24.748.000 17.122.000 3.668.000 73.073.000 51.942.000 3,840,000 44.945.000 173,801,000 26.433.000 16.512.000 9.493.000 585,350,000 6.785.000 13.365.000 18.115.000 11.911.000 2.321.000 52.498.000 33.063.000 6.784.000 11.740.000 18.610.000 10,766,000 3.456.000 51.356.000 13.875.000 it* •« * w » •« • 30.539.000 116,100,000 25.567.000 20.576.000 5,969,000 519,456,000 17.821.000 83.052.000 18.118.000 19,775,000 6,552.000 485,359,000 17.916.000 59,646,000 7.350.000 7.132.000 5.551.000 357,531,000 54,858,000 50,000,000 460,422,000 7.512.000 1.731.000 224.000 $574,747,000 54.875.000 44.131.000 476,680,000 7.706.000 1.732.000 226.000 585,350,000 54.919.000 36.043.000 418,718,000 9,635,000 *«•» « • 141.000 519,456,000 54.859.000 15,000,000 392,966,000 13.969.000 54.184.000 288,281,000 11.413.000 8,565.000 485,359,000 3.653.000 357,531,000 68.9$ 71.7$ 65.8$ 70.1$ 76.2$ 79.1$ 80.9$ 8 9 .0 $ 82.9$ 95.0$ 72.1$ 70.6$ 80.0$ 90.7$ 97.2$ 16,512,000 20,576,000 19,775,000 $15,300,000 •« .Tnvio i IQIR 216,637,000 24,850,000 1.028.000 242,515,000 35,337,000 277,852,000 ( 14,054,000 11,474,000 j 9,180,000 34.708.000 7,022,000 * * » »-• •« + 7,132,000 jtteieased lor puoxicaxion iSuiiaay momxixg June 1916* Not earlier - 67.9 b„ WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OY EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 2, 1915. (in thousands of dollars) R E S O U R C E S . Boston N. Y. Phila. Cleve1. Richm. Atlanta Chicago St.Louis Minnls . Kas.fy. Dallas S.Fran. TOTAL $6,635 139,848 9,508 12,207 Gold coin and cert if .in vault 5,056 6,284 3,828 5,388 242,253 6,304 36,837 6,147 4,211 12,307 9,374 12,114 11,174 13,136 9,443 102,331 Gold settlement fund 6,929 8,325 4,589 8,610 4,188 2,142 5 250 50 10 1,793 30 57 175 Gold redemption fund 62 451 469 200 34 18,947 149,472 21,672 23,443 18,643 11,362 45,647 Total gold reserve 8,323 10,502 11,197 12,328 14,841 346,37-7 6,349 32 561 13,855 1,050 159 919 16 Legal tender notes, silver,etc. . 429 182 1,105 748 2,305 18.979 155.821 22,233 24,493 18,825 11,791 47,952 9,428 11,250 11,356 13,247 14,857 360,232 Total reserve 185 314 638 269 404 5,176 2,799 1,709 4,716 19,895 784 693 Bills discounted - Members 2,208 —— 8,594 10.238 18,278 3,044 806 2,324 1,312 3,476 53,492 2,966 1,342 Bills bought in open market 1,112 10,423 .18,592 9,232 3.313 3.911 3.880 5,174 2,035 73,387 5.982 3,108 3,021 4,716 Total bills on hand 3,082 3,488 3,538 6,352 1,605 1,684 2,959 3,609 51,991 3,378 2,866 9,752 9,678 Investments: U. S. bonds .. _ -_ - 1,532 462 - 410 One-year U. S.Treas.notes 250 456 350 380 350 4,190 —_ —— 12.379 2,816 4,015 5,897 60 4,285 1,346 1,308 2,449 Municipal warrants 36,633 2,078 35,991 17,247 15,562 16,571 8.103 5.945 19,211 7,841 14,417 7,793 7,582 9,938 166,201 Total earning asset* _ _ - 912 135 -13,795 1,534 1,077 1,901 2,760 1,635 333 24,082 Federal reserve notes - Net _ _ 3,530 572 1, 543 1,579 1,065 7,026 1,174 751 1,420( a)l5,300 2,543 Due from other F. R. banks - Net 4,694 38 551 8,932 22 3,622 116 1,106 709 398 120 870 1,262 118 All other resources 209,229 43,183 41,511 28.587 41,178 23", 441 76,533 21,239 22,286 28,222 29,093 574,747 22,842 TOTAL RESOURCES L I A B I L I T I E S . 4,925 Capital paid in 2,915 Government deposits 33,282 Reserve deposits - Net _ _ Federal reserve notes - Net F. R. bank notes in circulation -Due to other F. R. banks - Net 56 All other liabilities 41,178 TOTAL LIABILITIES 11,281 10,292 177,059 -- 5,216 3,667 34,300 -- 5,966 966 34,579 -- 3,354 6,687 14,406 4,086 2,469 7,892 10,966 -- 6,672 5,718 64,143 -- 2,787 2,253 16,199 _ _ 2,576 708 19,002 -- 3,004 847 21,904 736 1,731 2,675 5,756 11,721 2,690 -- 3,933 2,299 22,861 --- 54,858 50,000 460,422 7,512 1,731 10,597 -209,229 -43,183 _ _ 41,511 54 28,587 114 21,441 -76,533 -21.239 -22,286 -28,222 — 22,842 -29,093 224 574.747 "... . 15,049 617 14,432 11,742 -2,690 hanks. 9,859 2,760 7.099 9,859 2,760 -- 184,217 25,582 158,635 175,205 24,082 7.512 M E M O R A N D U M . 3,667 6,929 13,121 6,315 10,394 10,272 14,383 74,399 9,319 F. R. notes issued to the banks 10,510 1,534 1,635 1,077 135 534 1,901 333 13,795 349 912 F. R. notes in hands of banks 6,180 10,061 60,604 9,738 12.849 2,032 5,852 11,220 8,970 9.598 F. R. notes in circulation 3,667 6,315 10,394 74,399 5,652 14,383 6,929 13,121 8,234 Gold and lawful money with AgentlO,510 1,077 333 1,635 1,534 -13,795 ,135 ly901 .T ' • 912 parried to net .. ' .assets -----4,086 -— -736 Carried to net liabilities (a) Item3 in transit i- e« total amounts due from les 3 total amounts due to other F. R. Released for puMication'Sunday v m o r n i n g Juno 4 , 191 A ■ * ,T , Not earlier. iD* 679 c> , STATEMENT OF FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS UUNE 2, 1916 (In thousands of dollars) Federal reserve notes: Received from the Comptroller * Dallas S.Fran. TOTAL 119,240 15,480 13,360 17,000 20,400 9,380 9,600 19,000 13,000 23,580 13,320 293,740 2, 690 27,041 3,072 1,266 3,328 1,921 832 909 249 763 1,721 661 44,453 12,408 12,094 13,672 18,479 8,548 8,691 18,751 12,237 21y859 12,659 249,287 6,093 1,700 3,400 4,096 4,881 1,762 5, 630 2,918 6,810 2,800 65,070 6,315 10,394 10,272 14,383 3,667 6,929 13,121 9,319 15,049 9,859 184,217 3,360 9,700 -- - - 2,850 10,120 4, 000 9,540 _ ^ 122,387 355 694 Chargeable to F* R. Agent 17,690 In hands of F. R* Agent I routed oo ?** R.< • .^nk le^s ?jnoi.int returned to F„ R, Age n i for re dsmpt ion 92,199 7,180 * K 17,800 10, 510 74,399 / MmouuTf^ Aw»Al*iv\4* nejLci K1fSH T r>tT il?i1* Kv U Agon A/v*A^ 4u * c oy in redemption of liability on outstanding notes; On hand: Gold coir and certificates 9,700 Credit balances: In gold redemption fund 810 With Federal Reserve Board -- 73,117 1,282 -_ As security for outstanding note s: Commercial paper 10,510 Anountorf commercial paper delivered ^ t o Federal Reserve Agent St.Lofxis Minnls.Kas„Cy $20,380 Returned to the Comptroller T O T A L Clevel. Richm. Atlanta Chicago 74,399 -- 452 933 357 329 651 534 822 339 7,558 -- 5,200 13,450 3,310 3 ,7 5 0 2,350 3,700 1,380 9,520 45,260 -- 4,620 -- -- -- -- 1,085- 3,307 V -- 9,012 6,315 * 10,,394 10,272 ^4,383 3,667 6,929 i.5,049 9,859 184,217 5,132 -- -- _ _ 2,600 13,121 9,319 V 1,087 4,392 10,611