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Released for publication Sunday morning, March 5 / 1916.
Not earlier,
563*
STATEMENT FOR THE PRESS.
March 4, 1916.
The Federal Reserve Board made public today it regular weekly bank
statement as at close of business 0 6 March 3, 1916.
The statement in
dicates an increase during the week of 9*2 millions in the total earning
assets of the banks, mainly the result of considerable purchases of
United States bonds and city warrants. The combined gold reserves of
the banks decreased about 2 * 2 millions and the total reserves about 6 . 9
millions.
The New York bank reports a gain of about 2 * 6 millions ih its gold
reserve, partly the result of the retuirn by the Federal Reserve Agent of
gold for redeemed notes;
Philadelphia shows a gain of about 5 , 4 millions,
accompanied by a large decrease in the total due from other Federal re
serve banks. Heavy trahsfers through the Gold Settlement Fund are shown
by the Chicago, St. Louis and San Francisco banks* Kansas City*s gold
reserve decreased 2.3 millions during the week* the bank reporting large
additional purchases of United States bonds 4
4
Discounted paper on hand decreased about 1 , 1 million dollar’s during
the week, all the banks active in the discount field Reporting smaller
totals than the week before.
About 70 per cent of the paper is held
oy the 3 Southern banks. Chicago and Kansas City are the only Other two
banks which show discounts on hand in excess of 1 million dollars. The
total of acceptances held shows an increase for the week of 1 , 7 million
dollars, all the four banks in the. seaport cities reporting substantial
gains in their holdings of this class of paper,
Of the total commercial
paper on hand, 38,4 per cent matures within 30 days and 34.5 per cent
after 30 but within 60 days. Agricultural and live-stock paper maturing
after 90 days aggregated over 2 millions, nearly one-half of this paper
being reported by the Dallas bank.
Additional purchases of United States bonds, mainly of the 2 per
cent type, ar©^reported by 7 banks, Kansas City and Chicago loading in
the holdings of this class of investment,
Considerable investments in
New York City notes by .the local Federal reserve bank are largely re
sponsible for the total gain of 5.1 millions in the holdings of warrants,
The total earning assets, 116,1 million dollars, constitute about
per cent of the aggregate paid-in capital, as against 195 per cent
a week before, and 151 per pent 3 months previous.
Of the total 28.5
. per-cent is represented by United States bonds, 26,5 per cent by ac
ceptances, 26,3 per cent by warrants and 18,7 per cent by discounts.
Government deposits show an increase of about 3 , 5 millions, all the
anks except Boston and St, Louis reporting larger figures than the week
before.
Member bank deposits show a net gain of 2,2 millions, the larger
gams reported oy the New York, Philadelphia and Kansas City banks being
offset in part by net withdrawals shown for the Boston and Chicago banks.
The amount of Federal feserve- notes outstanding, as reported by
Fedeial Reserve Agents, decreased about 5 . 7 millions, following the re
demption of notes by the Treasurer of the United States.
Against the
^7 0 ^
millions of notes outstanding, the Agents hold at present
•
millions of gold and about 13 millions of paper, The banks report
an outstanding circulation of 163.8 millions and aggregate liabilities
thereon of 9,6 million dollars.
Released for publication Sunday morning March 5, 1916^
Not earlier.
563, #
STATEMENT OF* COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UHITED STATES AT CLOSE OF BUSINESS MARCH 3, 1 9 1 6 .*
R
Gold
Gold
finld
E S O U R C E S .
March 3, 1916 February 25, 1916 December 3, 1915 September 3, 1915 March 5, 1915.
coin and certificates in vault........................................$261,822,000
262,491,000
244,229,000
209,369,000 246,556,000
settlement fund.....................................................................
74,590,000
76,435,000
79,700,000
57,880,000 ..
rfldftmotion fund with United States Treasurer................
1.538.000
__ l.J& lL.QQ0
— 1,252,000
— iJ=62AQOO
_____695,000
Total gold r e s e r v e .................................................. ..........
338,250,000
340,438,000.
325,181,000
268,411,000 247,251,000
Legal tender notes, silver, etc.................................................
12.994.000
—1.7.»§78>000..,32,.681, 000
19,274^000 23,292^000
357,
116,000_
358,
Total reserv e .......................................................................
351,244,000
0,~n 862,000
', ",c r'ri~'
O287,685,000
C17 oco r'r'r'
007 270,
cot 543,
Arw~'000
r'r>r' c/l° /v"'r'
Bills discounted and bought:
4,938,000
66,786,000
, 784.000
7, 477,00C
Maturities: Within 10 days......................................................
( 8 438, 000
740.000
11,348,000
750,000
11
,
11
,
From 11 to 30 days............................................. .
13,365,000
16,785,000
610,000
16, 758,CCO
18,
7, 424, 000
« 31 to 60 " .................................................
18,115,000
8,490,000
10
,
766,000
630,COG
13,
" 51 to 90 " ............................. ...................
11,911,000
< 9 869, 000
456.000
1,395,000
2 , 266.000
,3,
( '
Over 90 days..................................... ..................
. 2,321,000
42,956,000
356,000
25, 731, 000
51,
51, 881,000
Total....................................................................... . • • • • • • • •
52,498,
v>00
875,000
8,843,000
632,000
13,
29,
6, 072, 000
Investments: United States bonds....................................... . . . .
33,063,000
24.013.000
821.000
25, 403.000
14, 035, 000
17,
Municipal warrants.............................................. .
30.539.000
052,000
75,812,000
83,
45, 838, 000
106, 916,000
Total earning assets..........................................?................
116,100,000
18,
118,000
12,941,000
23, 793,000
3, 328, 000
F^doral reserve notes - l i e t ...................................... -........... 25,567,000
775,000
7,761,000
13, 274,000
19,
7, 162, 000
Due from Federal reserve banks - -Net,.................... ..
. . . . ....
20,576,000
4.075.000
65,969,000
, 552.000
3, 486, 000
All other resources...................................................... . , . . — ..
11 . 401.000
359,000
388,274,000
485,
330, 357, 000
513, 500,000
TOTAL RESOURCES...................................................... ..............
$519,456,000
L I A B I L I T I E S
.
Capital paid in................................................................... ..........
$54,919,000
Government deposits........................ .............................................
36,043,000
Reserve deposits - Net.................................................................. 418,718,000
Federal reserve notes - Net.................................................... 9,635,000
All other liabilities................................................................... ........ 141.000
TOTAL LIABILITIES............. .......... ............................ ........... $519,456,000
Gold reserve against net deposit and note liabilities Ca ) . .
Cash reserve against n®t deposit and note liabilities ( A ) ..
Cash reserve against net deposit liabilities after setting
aside 40$ gold reserve against aggregate net liabilities
on Federal reserve notes in circulation ( a ) ................ .........
(A) Less items in transit between F. R. banks viz:
54.897.000
32.501.000
416,566,000
9,386,000
150.000
513,500,000
54.859.000
15,000,000
392,966,000
13.969.000
8.565.000
485,359,000
54.762.000
36,082,000
• «• < «•f
312,316,000
17.670.000
3.526.000
388,274,000
330,357,000
287,883,000
6,392,000
76.2$
79.1$
76.5$
80.4$
80.9$
89.0$
83.3$
89.3$
86 . 1$
94.2$
80.0$
81.3$
90.7$
92.1$
95.5$
$20,576,000
13,274,000
19,775,000
7,761,000
7,162,000
563
Released for publication Sunday morning March 5, 1916*
Not earlier,
A
.WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 3, 1./16.
(in thousands of dollars)
R E S O U R C E S „
TOTAL
N, Y .
Phila. Clevel. Richm Atlanta Chicago St.Lou isi Mihhls.. Kan.Cy . Dallas S.Fran
Boston
2
61,822
6,115
4,046
.4,676
3,372
5,223
36,303
5, 607
4,723
7,864 11,452
$12,905 159,536
Gold coin and certif.in vault
74,890
1,354
9,092
•
3,7d5
4,238
'
987
4,577
6,132
3,389
9,738 10, 695 10,037 10,886
Gold settlement fund
1,533
10
223
92
• 30
23
200
354
383
50
3
250
Gold redemption fund
338,250
7,479
13,361
8
,
533
7,640
41,080
6,233
16,297 169,524 1 8 ,6G9 21,489 15,912 12,093
Total gold reserve
12.994
5
806
455 ' 152
701
692
180
129
1.316
4,318 ....4.167
73
Legal tender notes,silver,etc.
. .......
351,244
7.484
14,1.67
8.685
8.095
6.925
41.781
12.273
16,370 173.842 22.776 22.805 16.041
Total reserve
21,715
481
1,967
4,542
853
728
1,791
4,260
6,316
256
170
140
211
Bills discounted ^.Members
30.783
1.153
522
558
761
1.936
361
176
13.580
1,869
1.033
8,834
Bills bought in open market
52,493
1,634
4,542
2,489
1,411
3,727
'
1,489
4,621
2,080
6,492
1,203
13,836
8,974
Total bills on hand
33,063
3,035
1,295
7,405
1,902
—
6,357
■
3,339
158
1,370
3,726
3,4-90
986
Investments: U* S.bonds
30*. 539
1.495
^ 998
1.204
2.590
1.226
81
2.684
3.881
12.738
Municipal warrai s 3.642
116,100
.6,1.64
5,837
4.517
10,892
6.054
12.674
4.779
7.943
8,254
8.810
26 -574
13,602
Total earning assets
25,567
—_
5,388
——
1,009’
569
1,917
157
640
755
15,132
Federal reserve notes - Net
3
,9
6
l(a
)2
0 ,576
821
4,067
1,369
3,390
400
8,358
1,601
446
1,973
Due from.other F. Rv banks - 3 t 1,790
5,969
176
248
284
130
2.474
373
1.035
564
86
136
80
383
All ether resources
32.597 215.931 33.296. 33,265 25.671 18,487 65.103 19.412 17.818 21.230 21.073 23.173 519,456
TOTAL RESOURCES
-
-
L I A B I L I T I E S
Cap it al paid in
Government deposits
Reserve deposits - Net
Federal reserve notes - Net
Due to other F. R. banks — Net
All other liabilities
TOTAL LIABILITIES
M E M O R A N D U M
11,107
10,819
186,405
——
7,600
——
215.931
5,256
350
27,690
——
-——
33.296
5,945
767
26,553
-- .
—_ —
33,265
3,337
6,808
11,027
4,457
-42
25,671
2,417
6,446
8,287
1,238
-99
18.487
6,653
733
57,717
---65,103
2,785
1,571
15,056
---19.412
2,555
618
14,645
---17.515
3,005
477
16,696
1,052
--21.230
2,753
5,213
10,219
2,888
- —
21.073
3,947
1,326
17,900
---23.173
54,919
36,043
418,718
9,635
-141
519.456
.
F. R. notes issued to the banks
F. R, notes in hands of banks
F* R. notes in circulation
Oold and lawful money with Agen t
Carried to net assets
Carr is d to net liabilities
5,159
915
26, 523
_ —
——
——
32,597
9,380
755
8.625
9,380
755
——
(a) Items
7,714 13,200 10,190 13,847 11,070 191,303
4,191
75,597
7,672 10,256 12,395 15,461
5.388
27.501
569
111
1.057 .. 1*917
153
1,005
640
613
157
15.132
5, 682 163,802
7.145 12.191 10.037 13.736
2.274
9.646 11.782 14.404
7.515
60.765
7,714 13,200
8,985 10,848 11,070 179,734
4,191
7,325 13,166
75,897
7,672 10,286
-1,917
569
1,009
-5,388
25,567
--640
157
15,132
--1,052
2*886
-—
9,635
___
—
- - . 4.457
1.238
-_
in transit i.e . total amounts due from less total amounts due to other Federal Reserve Banks*
Released for publication Sunday morning March 5, 1916.
Not earlier.
*
STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MARCH 3, 1916.
(in thousands of dollars)
Boston
Federal reserve notes:
Received from the Comptroller
N.
Phila.
Clevel. Richm
Atlanta Chicago
St.Louis Minnls.Kas.Cy. Dallas
$19,380
108,240
15,480
13,000
17,000
20,400
9,380
9,600
1,280
20,343
1,715
1,354
1,805
1,138
308
124
18,100
87,897
13,765
11,-646
15,195
19,262
9,072
9,476
In hands of F. R. Agent
8,720
12,000
6^093
1,360
2,800
3,801
4,881
Issued to F. R. bank less
amount returned to F. R.
Agent for redemption
9,380
75,897
7^ 672
10,235
12,395
15,461
4,191
Amounts held by F. R. Agent:
<. In reduction of liability on
outstanding notes:
On hand:
Gold coin and certificates
8,715
71,398
3,530
9,760
665
4,499
542
526
Returned to the Comptroller
Chargeable to F. R. Agent
Credit balances:
In gold redemption
--
With Federal Reserve Board
As security for outstanding no tes:
Comnercial paper
T O T A L
9,380
Amount of commercial paper deliv ered
^ to Federal Reserve Agent
----
----
75,897
3,600
-----
7,672
>
i
07
on
13,000
19,580
11,360
C
A.
{J s <J J -ZO'J
312
871
290
29,540
19,000
12,688
18,709
11,070
245,880
1,762
5, 800
2,498
4,862
7,714
13,200
10,190
13,847
2,850
10,200
4, 300
9,540
-
_
----
11,070
54,577
191,303
120,293
716
431
374
650
585
118
290
9,871
3,760
4,490
2,350
4,100
1,190
10,780
49,570
1,205
2,999
--
11,569
10,190
13,847
11,070
191,303
1,217
4,186
--
13,039
-
6,850
12,450
_
-
5,070
2,295
12,395
15,461
5,339
2,297
4,191
7,714
*
a
TOTAL
475
_
10,286
19,000
S.Fran.
13,200
@FedFRASER