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A V RELEASED FOR PUBLICATION SUNDAY MORNING, AUGUST 27, 1 9 1 6 . 778 Not e a r l i e r . STATEMENT FOR THE PRESS, August 26, 1916, The F e d e r a l R e s e r v e Board made p u b l i c to—day i t s r e g u l a r weekly bank s t a t e m e n t as a t c l o s e of b u s i n e s s on F r i d a y , August 25, 1916. s t a t e m e n t i n d i c a t e s an i n c r e a s e f o r t h e week of o v e r 2 . 4 m i l l i o n s i n t h e t o t a l e a r n i n g a s s e t s of t h e b a n k s , a d e c r e a s e of about 5 , 8 m i l l i o n s i n t h e b a n k s ' a g g r e g a t e cash r e s e r v e s , and of river o n e - h a l ^ m i l l i o n i n t h e i r combined gold r e s e r v e s . Of t h e t o t a l d e c r e a s e i n r e s e r v e a c o n s i d e r a b l e p o r t i o n was t r a n s f e r r e d t o t h e T r e a s u r y and t o F e d e r a l Res ®fy® Agents t o redeem F e d e r a l r e s e r v e n o t e s and t o d e c r e a s e t h e b a n k s ' l i a b i l i t i e s on n o t e s o u t s t a n d i n g . The amount of p a i d - i n c a p i t a l shows an i n c r e a s e of o v e r $ 2 5 0 , 0 0 0 , l a r g e l y t h e r e s u l t of i n c r e a s e d c a p i t a l i z a t i o n of member banks i n t h e e a s t e r n d i s t r i c t s , P h i l a d e l p h i a r e p o r t s an i n c r e a s e of $873,000 i n i t s cash r e s e r v e ^ ue a r g e y t o l i q u i d a t i o n of commercial p a p e r , An e q u a l g a i n i n r e s e r v e own y t h e San F r a n c i s c o bank i s accompanied by s u b s t a n t i a l i n c r e a s e s i n Government and bank d e p o s i t s . New Y o r k ' s d e c r e a s e of 5.2 m i l l i o n s i n t o t a l 1S ca ed a ^ P P a r e n t l y by n e t w i t h d r a w a l s of Government f u n d s and bank J d e p o s i t s and t h e t r a n s f e r of g o l d t o t h e Agent t o d e c r e a s e t h e b a n k ' s l i nf i F f e d e r a l reserve notes issued to i t . Atlanta reports a decrease . m i l l i o n s i n i t s t o t a l r e s e r v e , t o g e t h e r w i t h a g a i n of o v e r $600,000 n + w * ? 1 ! ? 6 a f S 6 t S 321(1 a c h a n S ® o f an a d v e r s e t o a f a v o r a b l e b a l a n c e w i t h other Federal reserve banks, " ' About 1 / 4 m i l l i o n has been added d u r i n g t h e week t o t h e amount of th6 banks u%r ' a 1 1 t h r " s o u t h e r n banks showing g a i n s u n d e r t h i s h e a d . A c c e p t a n c e s on hand show an i n c r e a s e f o r t h e week of of P h i l a d e l p h i a a l o n e showing s m a l l e r h o l d i n g s of t h i s c l a s s W on S q? 321 ! ? 6 f 0 r 6 ' 0 f t h e t ° t a l b i l l s - including acceptances - p r a c t i c a l l y no changes a r e shown i n t h e h o l d i n g s of m u n i c i p a l w a r r a n t s . . ' E a ™ i n g a s s e t s a g g r e g a t e a t p r e s e n t over 192 m i l l i o n s , or 347 p e r e . , , ° t a l p a i d - i n c a p i t a l , as a g a i n s t 344 p e r c e n t t h e week b e f o r e , n A t , ° , ^ o;°: e a r n i n g a s s e t s , a c c e p t a n c e s c o n s t i t u t e 4 2 . 8 p e r c e n t ; U. S« Trp!! : ? e r °®o t J w a r r a n t s 1 4 . 5 p e r c e n t ; d i s c o u n t s 1 4 . 1 p e r c e n t ; and •treasury n o t e s 4 , 3 p e r c e n t , ^ ? 9 r e h f S b e f n - a n 6 t i n c r e a s e by about $400,000 i n t h e amount of i^i ,. < . ® P 0 S 1 G, a l l t h e w e s t e r n banks and Richmond r e p o r t i n g l a r g e r v ® vernment f u n d s t h a n a t t h e end of t h e p r e v i o u s week. Net s h o w n f d e c r e a s e d about 2 , 7 m i l l i o n s , Boston, New York and S t , L o u i s showing t h e l a r g e s t d e c r e a s e s u n d e r t h i s h e a d , n + T in? thp w O J u d e r r J " J r 0 S ? I T e b a n k n o t 6 S i n c i r c u l a t i o n decreased s l i g h t l y dur$179 ftqp n n h ' f® Reserve Agents r e p o r t t h e i s s u e t o t h e banks of thP ° 0 0 , n e t % o f F e d e r a l r e s e r v e n o t e s , an i n c r e a s e of $ 3 , 2 1 8 , 0 0 0 f o r 000 t h i s t o t a l t h e y h o l d $ 1 6 3 , 8 3 4 , 0 0 0 of g o l d L d $ 1 7 , 0 4 8 , 6 ^ * banks r e p o r t $ 1 5 6 , 3 4 5 , 0 0 0 of F e d e r a l r e s e r v e n o t e s i n ap+ i i s s u p j !!r51! a g g r e g a t e n e t l i a b i l i t i e s of $ 1 3 , 7 3 3 , 0 0 0 on n o t e s i s s u e d t o them by t h e Agents > ,-..j,a io,' p u b l i c a t i o n Sunday morning August 27, 1916. Mot e a r l i e r . 778. a OF COMBINED RESOURCES AND LIABILITIES OF THE TT7ELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS AUGUST 25, 1916 R G-old 3cId Gold L i ; E S O U R C E S . August 25, 1916 August 18, 1916 c o i n and c e r t i f i c a t e s i n v a u l t . $259,799,000 260,926,000 settlement fund^ 110,951,000 110,001,000 r e d e m p t i o n f u n d w i t h United. S t a t e s T r e a s u r e r 1.617.000 1,991,000 Total gold r e s e r v e 372,387,000 372,918,000 Legal t e n d e r n o t e s , s i l v e r , e t c 12.265.000 16,998,000 Total reserve 384,652,000 389,916,000 F i v e p e r c e n t r e d e m p t i o n f u n d a g a i n s t F. R. bank n o t e s , , . 500,000 500,000 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 : W i t h i n 10 d a y s . . 12,955,000 8,163,000 From 1 1 t o JO days 27,507,000 29,267,000 " 31 t o 60 days 42,781,000 42,400,000 " b l t o 90 days 23,548,000 24,584,000 Over 90 d a y s . 2.187.000 2,480,000 Total. 109,178,000 106,894,000 I n v e s t m e n t s : U n i t e d S t a t e s bonds 46,796,000 47,029.000 One-year United S t a t e s Treasury n o t e s . . . . . . . 8,205,000 7,885,000 Municipal w a r r a n t s . . . 2 7 . 8 6 l , 000 27,788,000 Total earning assets 192,042,000 189,596,000 F e d e r a l r e s e r v e n o t e s - Met 21,222,000 19,887,000 Due from F e d e r a l r e s e r v e banks — N e t . 21,654,000 21,068,000 All other resources 1.541.000 3,226,000 (TOTAL RESOURCES. $623,611,000 624,193,000 L I A B I L I T I E S . Capital paid in $55,363,000 55,110,000 Government d e p o s i t s . . . 50,099*000 49,717,000 Member bank d e p o s i t s — Net .... 502,421,000 505,090,000 F e d e r a l reserve* n o t e s — N e t . . * 13,733,000 12,295,000 F e d e r a l r e s e r v e bank n o t e s i n c i r c u l a t i o n . 1,690,000 1,691,000 All other l i a b i l i t i e s 105,000 290,000 TOTAL LIABILITIES $623,611,000 624,193,000 Gold r e s e r v e a g a i n s t n e t d e p o s i t and n o t e l i a b i l i t i e s (A) 68.4$ 68.3$ 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 and n o t e l i a b i l i t i e s (A) 70«6$ 71*% 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 a g g r e g a t e n e t l i a b i l i t i e s 71-liy^ 72.1$ _on F e d e r a l r e s e r v e n o t e s i n _ c i r c u l a t i o n _ ( A ) _ l • _l - jl • (a) Less items i n t r a n s i t between F e d e r a l r e s e r v e b a n k s , v i z : $21,654,000 21,068,000 May 26, 1916 242,985,000 91,991,000 2,161,000 337,139,000 21,972,000 359,111,000 450,000 F e b r u a r y 25, 1916 262,491,000 76,435,000 1.512.000 340,438,000 17,678.000 358,116,000 . 50,000 August 27, 1915 -211,145,000 55,930,000 1,104.000 268,179,000 19.878.000 288,057,000 ... 9,471,000 18,064,000 24,748,000 17,122,000 3, 668, 000 73,073,000 51,9^2,000 3,840,000 44,946,000 173,801,000 26,433,000 16,512,000 , 9,0^3iPOP 585,350,000 7,477,000 11,750,000 16,758,000 13,630,000 2,266.000 51,881,000 29,6)2,000 4,445,000 10,658,000 17,209,000 8,582,000 1,945.000 42,839,000 8,836,000 25,401,000 106,916,000 23,793,000 13,274,000 11,151,000 513,500,000 25,808.000 77,483,000 12,491,000 6,990,000 4,962.000 389,983,000 54,875,000 44,131,000 476,680,000 7,706,000 1,732,000 226,000 585,350,000 . 65.8$ 70.1$ 20.6^ 16,512,000 54,897,000 32,501,000 4l6,566,000 9,386,000 54,689,000 • ... ... 3^-6,989,000 16,738,000 150,000 513,500,000 76-5$ 80.4$ 1,567.000 389,983,000 82.1$ 88.2$ 81-3$ 13,274,000 2.0.8^ 6,990,000 ^^-oa.s jd t o r p u b l i c a t i o n Sunday morning August 2~J, l $ l 6 . Hot e a r l i e r . 778 b« WEEKLY STATEMENT OF RESOURCES AMD- LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 25, 1916. "—r( I n t h o u s a n d s of d o l l a r s ) R E S O U R C E S . Boston H. Y. P h i l a . C l e v e l .Richm. A t l a n t a Chicago S t . L o u i s M innI s . Kas.Cy. D a l l a s . S . F r a n . TOTAL G-oDd coin and c e r t i f . i n v a u l t $9,3°3 147,557 10,833 14,359 5,055 5 , 8 5 5 35,67# 5,425 6,276 4,210 5,366 9,886 259,799 Gold s e t t l e m e n t fund 16,466 11,077 1 7 , 2 5 1 9 , 2 1 8 11,637 1,058 16,579 4,343 3 , 4 3 1 10,446 4,4-24 5,021 110,951 Gold redemption f u n d 5 £52 50 20 451 125 200 19 10 ll4 34l 10 Total gold r e s e r v e 2 5 , 7 7 4 158,884 28,134 23,597 17,143 7 , 0 3 s 52,453 372,387 9,787 9 , 7 3 7 14,790 10,133 14,917 Legal t e n d e r notes^, s i l v e r , e t c * 208 762 61 1,101 617 5,625 52 12,265 426 163 1.144 l , 20'7, 903 Total reserve 25,982 164.509 28,896 24.698 17,306 8 , 2 4 1 53,356 10.931 10,163 1 4 , 8 5 1 10,750 14,969 384,652 — — J/o rederr.pt % f u n d - F.R+bank n o t e s 400 100 500 B i l l s d i s c o u n t e d - Members 664 869 290 1,918 7,188" 274 27,032 3,660 883 1,855 519 6,037 2,875 B i l l s bought i n open market 29.422 10,390 9,969 1,005 82,146 7.001 549 3,109 6,954 5,586 5,683 725 1,751 T o t a l b i l l s on hand 11,259 30,086 10,259 4,964 2,923 7,277 6,762 6,469 7,473 5,411 7,737 8,558 I n v e s t m e n t s : U. S . bonds 2, 220 2,681 2,992 2,890 2,634 9,647 2,724 46,796 1,129 1,508 5,579 3,399 9,393 One-year U. S* T r e a s . n o t e s 2,282 818 250 616 820 684 760 8,205 529 526 350 570 Municipal w a r r a n t s 2,890 1,044 7,276 2,550 4,§91 1,822 166 2,334 27,863 4,755 336 399 Total earning a s s e t s 4 1 , 8 6 4 16,517 1 8 , 3 7 1 17,391 192,042 8,911 7 , 6 l l 22,242 11,585 9,757 13.585 10,947 1 3 , 2 6 1 F e d e r a l r e s e r v e n o t e s ~ Net 910 14,015 1 , 4 8 4 426 21,222 1 , 7 0 4 384 1,300 999 Due from o t h e r F . R. banks - Net 4in 3,287 (a)21,654 1 , 9 8 1 568 196 320 1, 278 1,789 3,194 7,815 3,H5 All other resources 116 362 101 123 196 228 4ll 167 390 544 518 383 3,541 TOTAL RESOURCES - 4 4 , 8 1 1 224,037 45,920 47,079 26,580 17,648 8 5 , 1 2 4 27,174 22,293 3 0 , 8 2 1 22,500 31,923 623,611 — •mm- s y CO - — —v —- L I AB I L I T I E S . C a p i t a l paid in Government d e p o s i t s Member b a r k d e p o s i t s - Met F e d e r a l r e s e r v e n o t e s - Met FN Ro bank n o t e s In c i r c u l a t i o n Due t o o t h e r F . R. banks - iMct All other l i a b i l i t i e s TOTAL LIABILITIES H E M0 R A MD U H F. R. n o t e s i s s u e d t o t h e banks F, R., n o t e s i n hands of banks F* K, n o t a s i n c i r c u l a t i o n Oolti and l a w f u l money w i t h Agent C a r r i e d bo n e t a s s e t s Carried to net l i a b i l i t i e s I 5,023 3-, 246 36,429 ^ — 11,596 12,877 199,564 — - — — 113 44,811 224,037 10,158 910 9,248 10,158 910 69,3^5 14,015 55,330 69,3%5 14,015 —» — — 5,221 b,6l5 31,719 —" 5,995 2,064 39,020 — 2,299 66 45,920 47,079 7,410 9,438 426 384 7,026 9,012 7,410 ' 9,438 426 384 3,363 3,662 14,865 4,577 113 26,580 2,490 3,071 10,708 1,366 13 17,648 6,675 5,731 72,718 — — 2,791 4,446 19,937 — — 85,124 * •— V" 27,174 2,589 992 18,712 —• — — — 22,293 6,257 12,885 1,704 999 "5,258 1 1 , 1 8 1 6 , 2 5 7 12,885 — — — — 1,704 999 1,366 — — — •— — — — — 'r~ ~~ 4,577 ( a ) Items i n 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 — — — — 9,419 693 8,726 4,149 13,236 634 12,602 11,236 3,358 1,300 2,058 3,358 1,300 3,007 1,342 23,504 1,278 1,690 — — 2,691 2,227 11,070 6,512 w —• — —' 3,922 3,826 24,175 —* mm mm — 30,821 22,500 31,923 12,864 502 12,362 11,084 15,930 442 15,488 8,976 9,538 1,484 8,054 9,538 1,484 55,363 50,099 502,421 13,733 1,690 305 623,611 179,838 23,493 156,345 163,834 — — 21,222 — — 1,278 6,512, 13,733 other Federal reserve tanks. dead f o r p u b l i c a t i o n Sunday rooming August 2 7 , 1916. STATEMENT OF Boston Federal reserve notes: Received from the Comptroller $20,380 FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS" AUGUST 25, 1916 ( I n t h o u s a n d s of d o l l a r s ) Phila, Clev. 17,000 20,400 9,380 9,600 19,000 16,620 25,080 13,320 302,660 4,402 38,595 4,350 2,422 4,831 2,838 1,141 1,581 485 1,383 3,187 982 66,197 15,978 82,645 11,130 12,738 12,169 17,562 8,239 8,019 18,515 15,237 21,893 12,338 236,463 5,820 13,300 3,720 3,300 2,750 4,326 4,881 1,762 5,630 2,373 5,963 2,800 56,625 10,158 69,345 7,410 9,438 9,419 13,236 3,358 6,257 12,885 12,864 15,930 9,538 179,838 9,700 64,816 4,090 8,840 - 2,850 10,920 4,270 7,940 458 4,529 430 598 Credit balances: In gold r e d e m p t i o n f u n d W i t h F e d e r a l R e s e r v e Board 2,890 10,158 Amount of commercial p a p e r d e l i v e r e d t o F e d e r a l R e s e r v e Agent ( 69,345 ~ 7,410 ~ ~ 1,370 - 114,796 449 1,466 278 357 615 714 806 438 11,138 3,700 8,400 3,080 3,050 1,350 6,100 230 9,100 37,900 5,270 2,000 1,780 6,954 - 16,004 9,438 9,419 13,236 12,864 15,930 ~ 6,001 2,003 1,850 7,194 - - 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 p a p e r TOTAL 15,160 . Amounts h e l d by F« R. Agent i n r e d e m p t i o n of l i a b i l i t y on outstanding notes: On h a n d : Gold c o i n and c e r t i f i c a t e s TOTAL Richm. A t l a n t a Chicago S t . L o u i s M i n n l s . Kas.Cy. D a l l a s S . F r a n . 15,480 In hands of F . R. Agent I s s u e d 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 r e d e m p t i o n 778—c 121,240 Returned to the Comptroller C h a r g e a b l e t o F , R, Agent N. Y. Not e a r l i e r . ~ 3,358 - - 6,257 - - 12,885 - - 9/538 - - 179,838 17,048