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Released for publication Sunday morning July 23* 1916. Not earlier. 7^5* statement fo r the p r e s s . July 22 > 1916. Large withdrawals of Government deposits,, only partly offset by increased bank deposits, decreases in the gold and cash reserves of the banks, and increased holdings of discounted and bought paper are indi cated by the regular weekly bank statement made public today by-the Federal Reserve Boavd as at close of business on July 21, 191o» Transfers of funds to the Government were made largely through the Gold Settlement Fund, which shows a decrease of 19*1 million dollars for the week* Gold on hand decreased 7»5 millions, the New York bank report ing even larger net withdrawals from its vault holdings* The aggregate net withdrawals of gold shown for the week were 26.7 millions, the three Eastern 'banks and Dallas showing the largest losses of gold. Dallas re ports the return to the Government of the special 5 million dollardeposit, made last September for orop moving pmrpoaes. Reserves other than gold increased about 3*5 millions, mainly at the New York bank. Discounted bills on hand show a gain of about 5 millions, of which 3*9 millions represents the increase for the Boston Bank* The Southern banks likewise report gains of about 0*7 million in their aggregate holdings of discounted paper. About lU per cent of this paper consists of agricultural and live-stock paper maturing after 90 days, held mainly by the Dallas, Kansas City and Chicago banks. Acceptances on hand show a further increase for the week of 4 .3 millions, the New York and Cleveland banks reporting the largest additions to their hold ings of this class of paper. ’Of the total bills including acceptances on hand, 38*4 per cent mature within 3O days and 31*8 Per cen-k after 30 but within 60 days. As the result of bond conversions and the sale of Treasury notes, the aggregate of United States bonds on hand shows a decrease for the week of 2*8 millions and that of Treasury notes an increase of 2*6 mil lions* Municipal warrants on hand increased over 0«3 million*. Cleveland reporting the largest gain under this head. The total earning assets show an increase for the week of 9*3 millions, ard constitute at present < • 36I per cent of the total paid-in capital of the banks, compared with 3I+H per cent at the end' of the preceding week. Of the total earning assets, acceptances represent U2»9 per cent, United States bonds - 25*0 per cent, discounts - lU .5 per cent, warrants - lU.O per cent, and Treasury notes - 3.6 per cent. ‘ . An increase of about $23,000 in the paid-in capital reported by the Atlanta Bank is due apparently to the admission to membership of the American Trust & Savings Bank of Birmingham, Alabama* With the ex ception of Minneapolis, all the banks report heavy withdrawals of Gov ernment deposits, the total decrease for the week being $43 , 199 , 000* Probably as a result of the inauguration of the new clearing plan, netban deposits show an increase of about 17 millions, New York, Chicago and Boston reporting the largest gains under this head* There has been a slight decease in the amount of Federal reserve bank notes in circulation reported by the Kansas City Bank* Federal Reserve Agents report a net total of $175^219*000 of Federal reserve' notes issued to the banks, or $4,139,000 less than the week before. Against the total issued, they hold $ 163#932,000 of gold and $12*877,000 of paper* The btnks show a total of $154,038,000 cf Federal reserve^ notes in circulation, or $3*541*000 less than the week before. Their aggregate net liabilities on the notes issued to them by the Agents is stated as $ 10 * 120 *000. Re'.eased for publication Sunday morning July 23, 1916-Hot earlier. 7U5 ' a. STATEMENT OF COMBINED RESOURCES AITD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS JULY 2i, 1916. RE S O U R C E S . ^ Ju!y 2l} 1916July 14, 1916 'April 21/22,1916 January 21, I 9I 6 . July 23, I 9I 5, Gold coin and certificates in vault.-,........... .................... $ 263,049,000 269, 602,000 239, 882,000 259, 106,000 214,047,000 Gold settlement f u n d ................................................................... ' 99,561,000 118,631,000 74,785,000 81,620,000 48,450,000 Gold redemption fund with Unitea States Treasurer................. 1.931.000 1,970.000 1.473,000 1.06?.,000 ______ 1 ,076,000 Totsl gold reserve................................................................ 363,541,000 390,203,000 3l6,l40,000 341,788,000 263'. 573, 000 Legal tender notes, silver, e t c . . . ......................... ................. 13.802.000 10,279,000 9,505,000 14.13 2 ,000 25.913 ,.000 Total resex've....................................................................... 377,343,000 400,482,000 325,645,000 355, 920,000 289,486,000 Five per cent recaption fund against F. R. bank notes....... % 0 ,0 0 0 . 450,000 362,000 50,000 ... Bill?? discounted and lov’g/rl: Maturities; Fithin 10 d a y s ................................................... 17, 163,000 10,613,000 9,048,000 7,517,000 (,, nnn Proa U ic p days....... ........ ............................. 26,740,000 25.755,000 13, 868,000 12, 790,000 ( ' " 31 t-i hC days ............................... 36, 302,000 • 35,4^1,000 26, 137,000 18, 838,000 12,815,000 " 6l to 90 d a y s ............................................ 30, 121,000 28, 730,000 15,124,000 13, 115,000 11, 196,000 Over 90 *378. ............................. .......................... 3/993.000 4-559,000 2,127,000 3,608,000 3,456,000 T o tal,........ — ........................... ............................. '........ 114, 319,000 105, 093,000 66, 304,000 55, 868,000 39, 423,000 49,746,OOQ_ 52) 589,000 45,204,000. 20,242,000 7 , 923,000 Investruenbs: finited Stales bvuds............................................. One-year taxHad Xr,%taa Treasury notes............... 7,190,000 4,546,000 3,840,000 iiaai „d "/:.l warrant a ...... ........................................... 27,723,000 27,424,000 35,892,000 2QJ624',OOQ _ 15_ .110,000 Total earning assets.......................................................... 198,978,000 189,657,000 351,240,000 96,734,000 62",456,000 Federa . Jk-t, ...................... ................................ 20,014,000 20, 76.0,000 21, 731,000 34,895,000 9 22?’.000 v Due i j o.m ^rtd'^rax reservo b&r.ks - lio t......... ....................... • • • • 11,982,000 20,056,000 17,515,000 13,089,000' ^*-229^000 All cti-0r r*sources.,,. ....................... ...................................... 4,756,000 8,244,000 3 ,2 1 4 ,000 10,638.000 JP?£^i?0p TOTAL Pi’S c i T . c - E S ....... ...................... ................ $613, 523,000 639, 649,000 519, 707,000 511, 326,000 371 : 163.000 LI A U l L i I I S S , Capital paid ln( . . . . . . . . . . . . . . . ......................................... . 55, 183,000 55, 176,000 54,843,000 54,889,000 54,170.0.00 54,277,000 97,4/6,000 35,291,000 28,073,000 . etov&ructeAfc teDosU’s . . .................................................................... Member'TSsnfc depos.its - Kot. . . . . .................... ............................ 492,000,000 474,942,000 417,349,000 416,656,000 301, 063,000 Fedsrsl r©,:c-rve - K;*t............... .......... ............................ 10, 120,000 10, 098,000 9 , 617,000 11, 571,000 14, 521,000 Federal reserve bank notos in circulation............................... 1, 692,000 1 , 720,000 1,964,000 ......... .............. All other lia b ilit ie s ,...................................................... . . . . . 251,000 237;000 643 .000 137 ,000 1,409,000 TOTAL LIABILITIES................................................................. $ 613, 523,000 639,649,000 519, 707,000 511, 326,000 371, 163,000 G-old reserve against net deposit and note liabilities (A ).* 66*8/0 SS^kfo 71*3$ 77*1$ 8^* 9$ Cash reserve against net deposit and note liabilities ( A ) .. 69*3$ 71*2$ 73'2$> 80 . 3^ 93*3$ Cash reserve against net deposit liabilities after setting aside 40$ gold reserve against aggregate net liabilities _on Federal reserve notes_ in_ci.r£ulation ___ 69 *.9f1 71*8$_ 74*.0% 81«_4^ 2,6.6^ http://fraser.stlouisfed.org/ (A) Less items in transit between Federal' reserve banks,viz ^11,982,000 20,056,000 17,515,000 137089,000 5,229,000”' ’ Federal Reserve » Bank of St. Louis j . . . 4 . ______________________________ ** 1 _ ________________ __________________________ ^ i' Released for publication Sunday morning July 23, 1916 . Not earlier' ~[k5 b. WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JULY 21 , 1916 * (In thousands of dollars) R E S O U R C E S » Boston N. Y, Phila. Clevel. Richm. Atlanta Chicago St.Louis Minnls. Kas.Cy- Dallas S-FranTotal Gold coin and certif. in vault $7,892 154,815 8,512 13,775 5,205 6,302 37,419 4,047 6,003 4,384 5,260 8,435 '262,049 Gold settlement fund 10,052 6,010 12,275 11,161 11,561 1,940 7,832 5,649 4,608 11,711 4 ,5 4 1 . 6,221 99,561 Gold redemption fund .... p 10 421 145 .... . 251.. .. 50 — ,--...55 200 ... ...... 65 ....... .30.. 447 1>2.31_ .Total gold reserve 23,949 161,075 20,837 24,991 17,189 8,689 45,451 9 ,7 6 l io,64l 16,240 10,052 14,666 363,541 Legal tender notes, silver, etc* 246 ___JL.H26 11,802 14 76 786 201 . 16,5... 1,146 196 1.078 1,098 1,148 Total reserve 168,501 21,002 26,137 17,192 10,818 14,700 16,116 377/343 v 9,767 46,549 ' 10,909 11,017 5$ redempt.fund - F.R-bank notes 450 4oo 50 Bills discounted - Members 281 4,057 434 6,134 ‘ 1,908 5,810 2,842 1,434 1,095 558 3,626 28,937 758 Bills bought in open market 12,261 29,449 1 1 ^ 9 5 . • 7,117 85,382 1,646 1,506 5,116 2,420 5,848 7,877 727 16^18 Total biils-on •ii&.nft 29,730 12,490 _...7,571 7,456 6,134 1,854 4,148 5,874 8,415 114,319 9,474 2,615 Investments: U. S. bonds 3,082 3,182 49,7^6 2,732 5,756 1,508 2,770 • 3,513 1,377 3,109 9,853 3 ,H l 9,753 One-year U-S.Treas. notes 250 2,282 818 500 800 684 350 410 526 7,190 570 Municipal warrants 2,296 4,594 116 1,083 27,723 M.595, 455 2/ 5^9 4,519 1,765 Total earning assest 6,182 21,746 10.979 8,800 11.151 9.851 9,245 1 4,i4o 198,978 22^241..... 4.2x215.. .-19,019 18,721 11,826 Federal reserve notes — Net 487 1,749 20,014 1,106 739 1,246 1,449 259 1,153 Due from other F.« R- banks — Net 2,331 2,028 126 (a ) 11,982 3,274 653 1,963 6,909 53 All other resources 4l2 .........187 . 468 65 821 167 4,756 151 527 89 251 805 791 TOTAL RESOURCES 4 7 ,611 -222JL82....4.2,924 47,611 27,196 18,078 ..Za*24l.. 26.842 22,028 ,32,283.,. 20^9.9.1... 11,082 J.l3x521 L I A B I L I T I E S . Capital paid in Government deposits Member bank deposits - Net Federal reserve notes, — Net F. R. bank notes in circulation -Sue to other F. ,R. banks - Net All ether liabilities TOTAL LIABILITIES M E M O R A N B O M . F. R. notes issued to the banks F. R. notes in hands of banks F. R, notes in circulation Gold and lawful money with Agent Carried to net assets Carried to net liabilities T+ 4,925 3,877 38,073 -- 634 102 47.611 10,548 11,594 18,085 189,966 .— _ 3,144 -222,789 5,216 6,105 31,551 - ~. 52. 42,924 5,966 2,491 3,357 2,749 4,366 3 ,^ 3 38,898 16,094 10,028 —4,o6l —— —— -386 1,191 - _ .........95. _ 2 3 i .6 l 3 . 2L.32.6 18,078 7,947 66,933 9,735 11,826 487 . . 259... ^J±7.6. _.55xl0Z_ 7,460 10,548 7,947 66,933 9,735 11,826 487 739 259 _ _ - ---. in transit i . e. total amounts due 6,669 3,604 68,968 —~ —_ ——79,241 2,792 4,177 19,873 — —‘ —— -_ —_ 26,842 3,620 6,698 9,419 13,904 1,246 1,153 559... 1,106 8,860 _12 J2.8 ....-.2*374. __5,545 3,620 6,698 4,799 13,904 —1,106 1,246 1,153 --4^061 from less total sznounts due to 2,576 819 18,633 — «. —— —~ — 22,028 2,997 2,679 2,005 2,344 23,810 11,688 l,44o 4,619 • 1,692 —— 32,283 .. — —— 20,991 3,921 2,743 24,418 —— e-— —_ — 31,082 12,808 9,714 14,277 9,616 200 1,449 408 i,74q 9,514 11,869 11,359 7,867 8,074 12,808 9^16 9,250 —— 1,449 1,749 - - _. i A 4 c l 4,619 other Federal Reserve Banks* 55,183 54,277 492,000 10,120 1*692 251 613,521 ■ /iXl .. 175,219 21,181 154,018 163,932 20,014 10,120 Released for publication Sunday morning July 23, 1916. Hot earlier. 745 c. STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS JULY 21, 1916. (In thousands of dollars) Boston Federal Reserve notes: Received from the Comptroller 13,320 297,540 1,140 362 1,073 2,714 904 59,510 8,501 8,460 18,638 11,927 20,866 12,416 238,030 4 ,096 4,881 1,762 5,830 2,213 6,589 2,800 62,811 13,904 3,620 6,698 12,808 9,714 14,277 9,616 175,219 2,850 10,820 4,150 8,040 20,400 3,612 36,507 3,813 1,925 4,181 2,400 16,768 84,733 11,667 13,235 12,819 18,000 17,800 " 3,720 3,500 3,400 9,419 9,700 60,317 4,090 9,200 848 6,616 497 535 3,360 With Federal Reserve Board As security for outstanding notes: Commercial paper 299 904 310 298 638 424 4,500 13,000 3,310 3,550 1,350 3,500 O 9,735 879 . 1,640 4,620 10,548 Aaount of commercial paper delivered 66,933 7,947 9,735 9,419 5,603 13,904 3,620 6,698 12,808 O 7,947 9,380 go 66,933 Credit balances: In gold redemption fund 23,580 17,000 Amounts held by F« R. Agent in redemption of liability on outstanding notes: On hand: Gold coin and certificates TOTAL 13,000 15,160 10,548 TOTAL 19,000 15,480 6,220 Chicago St.Louiss Minnls *iCas • Cy * Dallas S.Fran. 9,600 121,240 In hands of F. R. Agent Issued to F. R, bank less amount returned to F„ R Agent for redemption ~Phila. Clevel. Richm. Atlanta $ 20,380 Returned to the Comptroller Chargeable to F. R. Agent N. Y. 109,167 M 12,415 9,35*- 42,350 5,027 - - 11,287 9,714 14,277 9,616 175,219 1,640 5,634 _ _ 12,877