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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 ~ P l e a s e ^ d f o r ' ' W E E K L Y R F S D T G'-iIrt n r s i n G o l d c o i n p u b l i c a t i o n S T A T E M E N T T R mA P V C m o r n i n g R E S O U R C E S ! t + ■ * a n d S u n d a y O F - o s 1 ' ? 11 $ 9 v a u l t 3 S e p t e m b e r , 1 6 3 1 4 6 , 3 1 9 , L I A B I L I T I E S , ? i c e r t i f . i n A N D O F 1 6 . . E A C H N o t O F • P h i l a . C l e v e l . 6 9 , 9 8 1 4 9 T W E L V E ^ I n J' 9 e a r l i e r . T H E , 5 6 t h o u s a n d s R i c h m . 5 2 , 0 4 *«s * * Legal s : e f ^ n r . u « r, ^ ^ # * fo ^ B u i s — u,.pu-i i .6 1 5 t a r * y ^ s ~ ■ Ouctx earning assets Federal reserve notes - Net- , 3 3 2 — 1 0 , 6 6 6 " U J L - S L j l 6 #4^2___ i6^6_18 1,033 1^.52$ , s : 167510 — --• *1 -••« “ L 7 I " “ A C a p i t a l B I L P ^ i d G o v e r n m e n t ■* I T I E M S 7 , 0 % H Shs r JS 2 l j a .A i h .J S 9 8 2 , 2 R E S E R V E B A N K S 0 0 C h i c a g o 3 1 , 2 9 S t . L o u i s 4 5 ^ , 1 8 'l£ llkl , . g m 16^8328/555 ^lU O F B U S I N E S S M i n n l s . 6 , 5 K a s . C y . 1 3 4 7 8 1| v , 1 9 1 6 1 S E P T E M B E R 4 v m * 4 - a kill ? 2 S . F r a n . b T O T A L ? 4 r g k bi S f i ** °, ^ ? > 6 4 q ul 7 ^ g f a ;S a ; a ^ g r f # , s k 7,3 41 2 1 2 4 1 10 827 q roU --- ------ *~T£n--i «■§ » „ . MZ 0 3S iM l s I t .t „ ] 12‘ i t 2 ....# i D a l l a s 1 5 2 H 5 41 ' 8 t& i i ,.A C L O S E 2 9 as ; s V 7 v A T d o l l a r s ) v m 5 i o f A t l a n t a 4 - ass a r . banlt - t # - °33 165- ^ F E D E R A L » . g „ .j ; ill fi?v «> n Ui* ^ , g v^nnk— ToT^ooo— y g 8 u, „ j g w „ a „ g - a H S - . i n . d e p o s i t s : ^F. R„ bank notes in circulation •Due to other F. R. banks - Net tAll other liabilities j TOTAL LIABILITIES 5 . » 0 2 4 1 1 , 5 9 6 5 > 2 2 1 5 5 1 2 6 O O R ? , 0 7 0 3- ' ? 25 2 § 9 3 1:9 6 3 ~~ ' - , 9 9 o 8 3 l i e; -? 39 :252 ~- > 3 ^ 3 2 7 m , 4 -7 9 c cc£ 1 6 -7 0 C , 6 7 5 , 7 h 9 2 2 , 5 9 0 3 8 3 1 , 5 7 3 - 3,025 -ii-o < - - 2 6 9 1 3 9 2 4 3 9 0 ^ ^ ^ ^ 2 - - 4 9' « i 9 4 s - 7 1,690 , 5 1 2 -_ m 4 :9 3 9 _ : $ I 4 _ , 4 l 6 1,690 _ _ 10,070 389 -^_________ 52 102 ^ — — 102 I13 3____ -«_— —— « » pq l I--=rr-~T’^— ^ 44,533 216 .619 477640 h i .707 Oh. O T L TTTcn 22,926 aa~ C on rs-,-,------ ~ A ~ C , r -Z ' , : '!-— — 216,619 43^640 47,703 24,273 16,659 88,652 26,937 31n. C84© 22,159 31,890 607 , 402 -114 44,^,533 M E M O R A N D U M f . R. notes in hands ol the banfcs 1,0 ^ 7 H t.ya__ J r t j ___ jjj;___^ 1 6 F. R. notes m circulation 58M 1 l4.360 j . R . n o t e s i s s u e d t o t h e 1 0 b a n k s , 0 6 8 _9., 035 2 , 9 9 5 7 , 3 ^ 3 6,920 9 , 3 7 7 9.063 w i t h A s e n t 9 -d C a r r i e d . j t o n e t l i a b i l i t i e s _ _ Items , _ ^ 1X1 transit 1 . ^ 1 0 , 1 4 2 9.655 , 0 8 7 1-727 5:27212:787 ^ 3 3 3 ^ 3 , 3 5 3 6 , 2 4 l 1$* \ &0 2^011-- 6 081 im fe:So V _ _ _ 1 2 ^ 8 6 3 11 798 1 - 5 7 9 ^ 2 0 0 7 8 5,795 : 20,038 14 998 i n w 10,323 \al1 6 kx I jU ,^ 19 8R^-- fl S k ^^ 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