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^Released

to? publication

Sunday morning, September

3, 1916.

Not earlier *
4

STATEMENT FOR THE PRESS,

September 2, 1916,
The Federal Reserve Board made public today its regular weekly
bank statement as at close of business on Friday, September 1, 1916, The
statement indicates decreases of 20*6 millions in the combined gold re­
serves and of 19*7 millions in the aggregate cash reserves of the banks.
Net member bank deposits show an apparent decrease of 17*7 millions^ duo,
however mainly to the large increaso in the amounts of clearing house ex- *
changes in course of collection-reported by tho Boston and New York
banks,
About 13*2 millions of gold wore transferred to the Federal re­
serve agents to reduce tho ba»ks i liabilities on notes issued.
The ag­
gregate gold resources of ‘the system, comprising the amounts of gold
hold by the banks and by the Agents, stand now at $i528,80S,000, as com­
pared with $536,221,000 the week before and $£.21,583,000 three months
previous* The week also witnessed liquidation on a considerable scale
of municipal warrants and acceptances, As a result of these develop­
ments the reserve position of the banks is somewhat stronger than at tho
end of the preceding week,
All the banks, except Cleveland, report smaller gold reserves
than tho wook before*
These changes aro accompanied, however, in most
cases by large increases in tho balances due from other Federal reserve
banks, and in the amounts of gold held by tho Agents* New York reports
a large indebtedness to other Federal reserve banks, instead of a sub­
stantial balance due from other Federal reserve banks, shown the week bof oro,
Discounted paper on hand decreased about $640,000, Dallas alone
reporting a substantial increase in the holdings of this class of paper*
Acceptances on hand show a decrease of $2,868,000, considerable amounts
having boon liquidated during tho week by the New York and Boston banks*
Of the total bills - including acceptances - on hand, 37*3 per cent ma~
turo within 30 days, a.nd 40*4 per cent, after 30 but within 60
Transactions in United States bonds aro reported by three banks, result­
ing in an increaso by $25,000 in the holdings of bonds * No change is re­
ported in tho amounts of 1-year Treasury notes held* Municipal warrants
on hand decreased $6,561,000, the New York bank reporting the liquidation
on a large scale of New York City warrants hold for its own account and
for account of other Federal reserve banks.
d a y s *

Total earning assets aro given as $181,998,000, - about 10 mil­
lion dollars loss than tho week before, or 329 as against 347 per cent
of the banks*paid-in capital* Of tho total
assets, acceptances
represent 43*6 per cent; United States bonds, 23*7 per cent; discounts,
14,5 per cent; warrants, 11,7 per cent; and Treasury notes, 4«5 per cent*
e

a

r n

i n

g

"

Government deposits show an increaso of $819,000. Richmond,
New York and Philadelphia report considerable withdrawals for the wook
of Government funds, which are, however, moro than offset by gains shown
for lyQBtbziand other banks* Large increases in tho amounts of transit
itoms aro mainly responsible for the decreases in the not member bank de­
posits shown for tho banks outside of New York and Boston#
No changos aro shown in the amounts of Federal reserve bank
notes in circulation* Federal reserve agents report a total of $194,645,000, net, of notes issued to tho banks, an increase for the wook of $14,807,000*
Against this total they hold $177,035,000 of gold, comparod
with $163,834,000 tho week boforo, and $17,842,000 of pa.por*
The banks
show a total Federal reserve note circulation cf $170,561,000, an in­
crease for the wook of $14,216,000, and aggregate net liabilities of
$14,416,000 upon notes issued to them by tho Agents*



^ l e a s e d for publication Sunday morning September 3, 1916Hot earlier.
784 a'-^ATEMMT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS SEPTEMBER

R E S O U R C E S .
Gold coin and certificates in vault..........................................
Gold settlement fu n d ...................................................................
Geld redemption fund with United States Treasurer...............
Total gold reserve................................................................
Legal tender notes, silver, e t c . . . . . . .......................................
Total reserve............................................................ ..........
Five per cent redemption fund against F. R. bank notes........
Bills discounted and bought:
Maturities: Within 10 days........... ........................................
From 11 to 30 days..................... ........................
"
31 to 60 d a y s ................................. ............
"
61 to 90 days............................>. . ...............
Over 90 days...................'.......................................
Total........................................................................................
Investments: United States bonds...............................................
One-year United States Treasury notes, ...........
.V
Municipal warrants............................................... .
Total earning assets............................................................
Federal reserve notes - N e t ...................................................
Due from Federal reserve banks _ Net.......................................
All other resources.......................................................................
total resources-- ,.................... .........................................
L I A B I L I T I E S .
Capital paid i n . .................... ........ ..............................................
Government deposits.......................................................................
Member bank deposits - N e t . . . ........... ........................................
Federal reserve notes - Net............................. ..........................
Federal reserve bank notes in c ir c u la t io n ...........................
All other liabilities...................................................................
total liabilities................................................................
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
l?!keL&k reserve notes. in_c_ir^u:l a t i o n _ ( A ) ^ . _ !L.
(A) Less items in transit between Federal reserve banks, v iz :



September 1, 1916 August 25, 1916' June 2, 1916
$21+5,358,000
259, 799,000
242,253,000
104,601,000 110,951,000
• 102,331,000
1,812.000
1.617.000
1.791,000
351,771,000
372,387,000
346,377,000
11,605,000
- 12,265.000
11.855.000
365, 376,000
384,652,000
360, 232,000
500,000
500,000
•
1+50,000

15, 731,000
23, 671,000
42,674,000
21, 250,000
2,142,000
105, 670,000
46,821,000
8-,205,000
21,102,000
181, 998,000
. 20,890,000
35,607,000
1 , 011,000
$607, 402,000

March 3 , 1916
September 3 , 1915,
261,822,000
203,169,000
7*+,890,000
57,880,000
1.518,000
_______1 ,162.000
338,250,000
268,411,000
12.99U.000
19.274,000
351,244,000
287,685,000
150,000

12,955,000
11,607,000
6,786,000
27,507,000
19,227,000
13, 365,000
1+2,781,000
24,094,000
18, 115,000
23, 5^+8,000
14,582,000
11, 911,000
2,387,000
1,877,000
2,121,000
109, 178,000
73^387,000
52, 1+98,000
46,796,000
51,991,000
33, 063,000
8,205,000
4,190,000
.
2 7 ,8 6 l.000
l 6 . 6ll.OOO
10,519.000
192,942,000 166, 201,000 ,
116,100,000
21,222,000
24,082,000
25, 567,000
21,654,000
15,300,000
20,576,000
1,541,000
8.482,000
5,819.000
623, 611,000
574, 747,000
519, 456,000

55,390,000 55/363/000 '
54,858,000 '
5^/919,000
50,918,000
50^099,000
50,000,000
36,043,000
484,697,000
502,421,000 460,422,000 .
418,718,000
l4,4l6,000
13/733/°00
7,512,000
9,635,000
1, 690,000
1, 690,000
1,731,000
. ... ...
.........291,000
105,000
224,000
l 4 l ,000
$607, 402,000
623, 611,000
574, 747,000
519, 456,000
68.4$
68.4$
68-9$
76-2$
71.0$
70-6$
71*7$
79*1$

_____ 71-9$_____________ 71^.4$___________ 12^.1$ ____ _______ 80^0^ _
$35,607,000

2 1,654,000

1 5 ,3 00 ,0 0 0

1,1916

2 0 ,5 7 6 ,0 0 0

4 , 938,000
11,31+8,000
16, 785,000
8, 1+90,000
1.195.000
1+2, 956,000
8,843,000
.......
24.011.000
75,812,000
12,941,000
7,761,000
4.075.000
388, 274,000
54,762,000
312,316,000
17^670,000
1,526.000

388, 274,000
83*3$

89 , 3$
22 . 1$
7 ,7 6 l 000 ~

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TOTAL LIABILITIES

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216,619 43^640 47,703 24,273 16,659 88,652
26,937
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22,159 31,890 607 , 402

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M E M O R A N D U M

f . R. notes in hands ol the banfcs 1,0 ^

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F. R. notes m circulation

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_

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5:27212:787
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11 798

1 - 5

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5,795 : 20,038

14 998

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10,323

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^^

e. total amounts due from less total amounts due to other Federal reserve banks.

n n S

2 0 , 8 9 0

4

Released for publication Sunday morning September

3 , 1916*

78k c.

Not earlier.

STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER 1, 1916
(In thousands of dollars)

Federal reserve notes:
Received from the Comptroller
Returned to the Comptroller
Chargeable to F * R. Agent
In hands of F. R. Agent
Issued to F. R. bank less
amount returned to F. R.
Agent for redemption
jAmounts held by F« R. Agent
in redemption of liability on
outstanding notes:
On hand:
Gold coin and certificates
Credit balances;
In gold redemption fund
With Federal Reserve Board

126,240

15,480

15,160

17,000

20,400

9,380

9,600

19,000

19,620

25,960

13,880

312,100

4,492

38,9^5

^,397

2 , 1+83

4,908

2,887

i,i46

1,597

507

1,417

3,321

997

67,097

15,888

87,295

11,083

12,677

12,092

17,513

8,234

8,003

18,493

18,203

22,639

12,883

2 )45,003

5,820

14,300

3,720

3,300

1,950

1,426

4,881

1,762

5,630 v 2,408

2,601

2,560

50,358

10,068

72,995

7,363

9,377

10 , 1 U?

16,087

3,353

6,241

12,863

15,795

20,038

10,323

194,645

9*700

68,815

4,090

8,820

5,070

- -

2,850

10,820

4,270

10,040

- -

124,475

368

4,180

383

557

--

As security for outstanding notes:
Commercial paper

total

>

$ 20,380

10,068

i

2,890

372

1,417

273

341

693

680

1,173

423

10,860

4,900

6,300

3,080

3,050

1,350

9,100

1,130

9,900

41,700

1,745

7,695

-

17,610

15,795

20,038

10,323

3,300

--

Amount of commercial paper delivered
to Federal Reserve Agent
--




--

--

72,995
--

7,363

9,377

10,142

16,087

5,057

3,31^

3,353

6,241

12,863

1,771

7-rfe*

74?7

-

194,645
17,842