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83.1
Released f o r p u b l i c a t i o n Sunday morning October 8, 1916,

Not e a r l i e r ,

STATEMENT FOR THE PRESS.
October J j 1916,
Continued l i q u i d a t i o n of discounts and acceptances, large purchases
of municipal w a r r a n t s , and considerable t r a n s f e r s of gold to the Agents to
reduce the banks 1 l i a b i l i t i e s on notes issued to them, accompanied by subs t a n t i a l gains i n member bank d e p o s i t s ^ are i n d i c a t e d by the weekly bank
statement of the Federal Reserve Boarc^at close of business on October 6,

1916.

The aggregate cash reserves of the banks increased during the week by
about 6 m i l l i o n s , while t o t a l gold r e s e r v e s show a s l i g h t d e c l i n e , Combined gold holdings of the banks and Agents are now about 592 m i l l i o n s , a
gain f o r the p a s t s i x months of about 84 m i l l i o n s , of which 24 m i l l i o n s repr e s e n t s the increase of gold i n t h e hands of the Agents and 60 m i l l i o n s the
increase of gold i n the hands of the banks»
Considerable s h i f t i n g s of gold between the banks are shown, l a r g e l y
the r e s u l t of t r a n s f e r s on t h e books of the Gold Settlement Fund. Boston
r e p o r t s a decrease of over 6 m i l l i o n s in i t s gold r e s e r v e , which i s due in
p a r t to net withdrawals of government and member bank d e p o s i t s , the building up of large favorable balances in account with other Federal Reserve
banks, and the t r a n s f e r of gold to t h e Agent * The New York Bank r e p o r t s
a gain of 3*7 m i l l i o n s i n i t s gold reserve and of 9*3 m i l l i o n s in t o t a l r e s e r v e s , mainly from t h e redemption of notes by the Treasury, Chicago r e p o r t s a gain of 4»P. m i l l i o n s in t o t a l r e s e r v e , following the c o l l e c t i o n
through the Gold Settlement Fund of p a r t of i t s favorable balance with other
Federal Reserve Banks * Reductions of 1,7 m i l l i o E ^ o f 2*4 m i l l i o n s in reserve
reported by the Minneapolis and San Francisco banks, a r e more than o f f s e t by
i n c r e a s e s i n t h e i r balances due from other reserve banks,
Discounts on hand show a decrease during t h e week of almost 2»3 mill i o n s , Dallas and the other two southern banks r e p o r t i n g considerable l i quidation of paper, Acceptances on hand decreased about 3*^ m i l l i o n s . Of
the t o t a l b i l l s , including acceptances, held by the banks, 42,4 per cent mat u r e w i t h i n 30 days and 31*8 per cent a f t e r 30 but within 60 days*
Transactions i n U,S, s e c u r i t i e s , i n c l u d i n g the conversion of 2 per cent
bonds i n t o 3 P e r cent bonds and Treasury n o t e s , are reported by 9 banks,
r e s u l t i n g i n a decrease of $2,174,000 in the amounts of bonds, and of $1,~
836,000 in the amounts of Treasury notes held* Aggregate holdings of wanr a n t s i n c r e a s e d over 5 m i l l i o n s , the Eastern banks r e p o r t i n g large purchases of New York City notes. Total e a r n i n g a s s e t s d i f f e r but s l i g h t l y
from the t o t a l shown the week b e f o r e , and c o n s t i t u t e about 33® P e r cent of
the banks 1 p a i d - i n c a p i t a l , as a g a i n s t 332 per cent shown on September 29*
Of t h e aggregate earning a s s e t s 42,2 per cent is represented by acceptances;
24,2 per cent Iby U, S* bonds; 15*9 P e r cent by warrants; 12,9 P e r cent by
discounts; and 4,8 per cent by Treasury n o t e s .
The New York Federal Reserve Bank r e p o r t s an increase of $300,000 i n
the amount of i t s p a i d - i n capital,, corresponding t o a r e p o r t e d increase of
10 m i l l i o n s i n the amount of c a p i t a l of a leading New York City member bank*
Government d e p o s i t s show a decline f o r the week of 5 m i l l i o n s , the 3 e aste r n
banks r e p o r t i n g large net withdrawals of Government funds#
Net member bank d e p o s i t s increased 4*3 m i l l i o n s , New York, Atlanta and
Dallas r e p o r t i n g the l a r g e s t i n c r e a s e s under t h i s head,
Dallas r e p o r t s the deposit with the Treasury of 2 m i l l i o n s to reduce
i t s l i a b i l i t y on Federal r e s e r v e bank notes, The Agents r e p o r t t o t a l net
i s s u e s t o the banks of $220,4^0,000 of Federal r e s e r v e n o t e s , an increase
f o r the week of $6,523.*000* Against t h i s t o t a l they hold $204,4/6,000 of gold
and $16,220,000 of paper. The banks r e p o r t a t o t a l of $201,364,000 of Federal
reserve notes in a c t u a l c i r c u l a t i o n and aggregate l i a b i l i t i e s of $11,782,000
on notes issued to them by the Agents *




i.aleasea f o r p u b l i c a t i o n Sunday morning October 8, 1316.
Not ea r l i e r .
4&ATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE T m r ' , FEDERAL RESERVE BANKS OF THE UNITED STATES A CLOSE OF BUSINESS
T
RESOURCES .
October 6, 1916
Gold c o i n and c e r t i f i c a t e s in v a u l t
$265,626,000
Gold s e t t l e m e n t fund...
119,441,000
Gold redemption fund xvith United S t a t e s Treasurer
1,910 000
T o t a l gold r e s e r v e
386,977,000
Legal t e n d e r n o t e s , s i l v e r , e t c
11.991,000
Total reserve
400,968,000
Five p e r cent redemption fund a g a i n s t F. R. "bank n o t e s . . .
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 : Within 10 days
15,061,000
From 11 t c 30 days
27,810^000
From 31 t o 60 d a y s . . . .
32,112,000
Frcm 61 t o 90 days
24,947,000
Over 90 days
1.164.000
Total.
101,094,000
Investments: United S t a t e s bonds
44,370,000
One-year United S t a t e s Treasury notes
8,763,000
Municipal w a r r a n t s
29.085.000
-K
Total earning assets
183,312,000
F e d e r a l r e s e r v e notes - Net
14,894,000
Due frcm F e d e r a l r e s e r v e banks - Net
26,232,000
All other resources
.
1,045,000
TOTAL RESOURCES.
'
$628,951,000
L I A B I L I T I E S .
C a p i t a l paid in
55,684,000
Government d e p o s i t s , . . .
33,971*000
Memter bank d e p o s i t s - Net
526,019,000
Federal reserve notes - N e t . .
11,782,000
F e d e r a l r e s e r v e bank rotes i n c i r c u l a t i o n .
1,033,000
All other l i a b i l i t i e s
462,000
TOTAL LIABILITIES
$628,951,000
70.9^
Gold r e s e r v e a g a i n s t n e t d e p o s i t and note l i a b i l i t i e s (A) Cash reserve against n e t d e p o s i t and note l i a b i l i t i e s (A).
7j$%5?
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 aggregate net 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 notes in_c i r c u 1 a t i o n _ ( A ) ^ ^
.
A A) Less items in t r a n s i t between Federal r e s e r v e banks^, - ^ 26,232,000



September 29,1916
2b0,845,000
124,421,000
1,929,000
387,195,000
,..,7,811,000

395,006,000
500,000
21,408,000
23,245,000
36,527,000

23,882,000
1,516,000

106,578,000

46,544,000
6,927,000
24,028,000
184,077,000
14,250,000
31,365,000
7,541,000
b32,74l,000
55,393,000
38,985,000
521,740,000
13,216,000
3,031,000
374,000
632,741,000
71.4^
72.8#
- - _71#_
31,365,000

J u l y 7, 1916
261,232,000
123,611,000
2,011.000
386,854,000
36,902,000
423,756,000
450,000

A p r i l 7, 1916
245,778,000

7,970,000

6,911,000
13,558,000
21,930,000
20,134,000
1,851.000
64,384,000
45,226,000
I,932,000
35,256,000
146,798,000
21,761,000
II,161,000
7,217,000
526,245,000

20,688,000

32,002,000
27,090,000
4,423,000
92,173,000
52,589,000
4,546,000
25,216.000
174,544,000
24,111,000
20,273,000
_IiiI9..iOCo
647,113,000
54,858,000
114,460,000
465,840,000
9,992,000
1,721,000
242.000
b47,113,000

,67.9^

74.3 $

7J2-0£_ .
20,273,000

80,011,000

1,549,000
327,338,000
11,600.000
338,938,000
350,000

54,843,000
37,016,000
^23,497,000
9,500,000
1,251,000

831-a
OCTOBER 6, 1916
October 8, I915
227,769,000
55,850,000
1,212,000
284,831,000
21.102,000
306,133,000
5,893,000
13,786,000
15,257,000
9,109,000
1,120.000
45,365,000
9,483,000
27,029,000
81,877,000
15,523,000
7,723,000
1,124,000
414,380,000
54,781,000

15,000,000

326,787,000

15,225,000

526,245,000
71.3^

118,000

2,587,000
414,380,000 .
81.5 fo
87.6$

74.6fo_
11,161,000

89-8$ _
77723,000

Released for p u b l i c a t i o n Sunday morning October 8 , 191b.

831-b

Not e a r l i e r .

•WEEKLY STATEMENT OF RESOURCES AND L I A B I L I T I E S . O F EACH OF THE TTTELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER 6 ,

f

Boston
$8,454
9,305

N. Y.
168,972
3,767

17,764
102
17,066

172,989
8,925
181,914

B i l l s discounted - members
758
10,066
B i l l s bought i n open market
10,824
Total b i l l s on hand
2,922
Investments: U. S. Bonds
250
One-year u . S - T r e a s . notes
4,417
Municipal w a r r a n t s
18,413
Total earning a s s e t s
1,64b
Federal reserve notes - Net
Due from other F, R. banks — Net 6,381
69
All other resources
44,375
>
TOTAL m s o m o E S

1,097
23,148
24,245
2,728

RESOURCES
Gold coin and c e r t i f
Gold Settlement Fund

in vault

Total Gold Reserve
Legal tender n o t e s , s i l v e r , e t c *
Total reserve

(In thousands of d o l l a r s )
P h i l a . Clevel. Richm- A t l a n t a Chicago St.Louis MinnIs.
6,017
8,425 14,836
3,997
4,263
29,019
3,1
19,121 14,063 16,419
2,781 24,336 5,430 3,465
81
44o
200
27,596 28,980 20,856
6,904 53,555
9,766 • 9,512
1,123
68
1,125
1,076
597
195
523
28,193 30,103 20,924
54,631 10,891
9,707
7,433

Kas.Cy. Dallas
2,981
4,176
10,287
7,093
121

1916

S.Fran.

3,374 119,441
10

14,584 10,487 13,984 386,977
6
190
55
13,991
14,590 10,677 14,039 400,968
100
400
500
1,642
296
4,908
1,459
23,656
144
2,827
1,479
6,435
77,438
2,938
4,469
5,052
6,731 101,094
2,896
2,634
9,270
2,945
44,370
700
704
963
8,763
529
» m
1,252
1,876
29,085
359
8,477 11,945 183,312
9,366 13,530
,
1,488
1,507
14,894
744
4,484( a ) 26,23 2
1,565
3,503
81
464
191
135
3,045
24,164 30,320 20,462 32,14/ 628,951
*

L I A B I L I T I E S .
C a p i t a l paid in
Government deposits
Member bank d e p o s i t s - Net
Federal reserve notes - Net
F. R» bank notes i n c i r c u l a t i o n
Dae t o o t h e r F. R» banks - Net
All other l i a b i l i t i e s
: TOTAL LIABILITIES

5,024
2,580
36,603
»

•
168
44,375

•

•

7,688
34,6bl
7,968
* w
227
224,770
11,902
2,945
205,944

. .

3,972
7
224,770

108
11,330
11,438
2,30b
1,174
3,454
18,372
638
223
47,426

365
_6a?4_2
6,607
6,243
760
3,664
17,274
367
2,254
4i6
50,414

5,224
3,678
32,271

5,997
2,301
42,116

»

*

•

»

6,135
118
47,426

•

*

*

•

50,4l4

4,489
1,669
6,153
633
1,070
61
7,922

3,800
3,758
7,558
1,508
526
289
9,881

1,18 b
167
30,199

l,4l4
287
19,015

3,325
4,417
18,441
3,891

2,493
3,924
11,408
1,153

' 125
30,199

37
19,015

2,505
5,215
7,720
7,596
1,517
4,440
21,273
1,280
7,246
656
85,086

2,229
5,125
7,354
2,689
570
1,585
12,198

6,676
3,262
75,148

2,794
3,999
21,648
2,239

+

*

.

•

85,086

ft

%

7,462
129
50,680

•

•




*

2,597
1,124
20,443
*

+ m30,680 24,164

MEMORANDUM .
11,297
9,082 13,979 20,266
75,601
F»R» notes i s s u e d t o t h e banks
7,967
3,320 11,452
1,868
1,280
1,108
1,646
638
629
7,968
F»Rn notes in hands of banks
367
2,040 10,344
67,633
7,329
8,715 13,350 18,398
F-R. notes i n c i r c u l a t i o n
9,651
8,105
75,601
3,320
Gold and lawful money with agent 11,297
7,967 9,082
9,459 17,245
• 0
1,280
1,646
638
7,968
Carried t o net a s s e t s
367
,
. .
e m
*
«
•
«
1,153
3,891
2,239
< Carried t o net l i a b i l i t i e s
4
(a) Items in 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 other
*

»

Total

10,600 265,626

14,762
1,507
13,255
14,762
1,507
* «
Federal

3,043
881
24,177
1,186
1,033

2,689
1,956
12,504
3,313
*

-

•

-

*

+

•

*

55,684
33,371
526,019
11,782
1,033

3,920
>,90-25,316

30,320

20,462

7
32,147

462
628,951

17,571
454
17,117
15,931
• »
1,186
reserve

25,104 10,089
1,488
173
24,931
8,601
21,618 10,089
1,488
, *
3,313
banks.

220,490
19,126
201,364
204,476
14,894
11,782

*

<•
%

•

•

*

Ha^.e&sed f o r p u b l i c a t i o n Sunday morning October 8, 1916.

Not e a r l i e r .

831-c

STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS OCTOBER 6, 1916.
'
( i n thousands of d o l l a r s )
F e d e r a l Reserve N o t e s :
Received from t h e Comptroller

ipatonl

15,160

21,500

26,920

9,380

14,600

21,000

22,620

35,320

13,880

364,140

5,563

45,639

4,873

2,778

5,371

3,169

1,179

1,946

608

1,636

3,595

1,231

77,588

19,317

97,761

10,607

12,382

16,129

23,751

8,201

12,654

20,392

20,984

31,725

12,649

286,552

8,020

22,160

2,640

3,300

2,150

3,485

4,881

1,202

5,630

3,413

6,621

2,560

66,062

11,297

75,601

7,967

9,082

13,979

20,266

3,320

11,452

14,762

17,571

25.104

10,089

220,4qp

10,700

71,215

3,820

8,540

5,063

11,620

4,270

10,340

597

4,38b

527

542

4,560

.

130,128
11,918

11,297

75,601

7,967

9,082

359

1,135

240

532

792

1,061

1,398

3^9

11,550

3,080

2,510

2,350

10,600

9,880

9,740

3,021

i,64o

3,486

13,979

20,266

17,571

25,104

1,644

3,629

-

Amount of commercial paper d e l i v e r e d
t o F e d e r a l Reserve Agent

¥

-

9,100

3,620

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 paper




-

4,520

.

With F e d e r a l Reserve Board

4

Total

15,480

Credit balances:
In gold redemption fund

TOTAL

S.Fran.

143,400

In Stands of F . R. Agent
Issued 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 redemption
Amounts held 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 hand:
Gold coin and c e r t i f i c a t e s

Kas.Cy. D a l l a s

$24,880

Returned t o t h e Comptroller
Chargeable t o F . R. Agent

- P h i l a . b l e y e l - ' i •Richm...-.Atlanta. bhLcaga Sf.ioiiifrMixmls.

-

4,567

3,3^7
3,320

11,452

.

3,348

14,762

62,430'
16,014

10,089

220,490

'

3,032

.

.

.

16,220


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102