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Released for publication Sunday morning March 19, 1916, Not earlier. 585. STATEMENT FOR THE PRESS. March 18, 1916. The weekly bank statement issued today "by the Federal Reserve Board as at close of business on March 17, 1916 indicates an increase for the week of 8.6 millions in the total earning assets of the Federal reserve banks as the result of heavy purchases of United States bonds and bankers* acceptances. The combined gold reserves show a decrease for the week of about 4 millions, while the total cash reserves declined about 12.8 millions. The Hew York bank reports net withdrawals of cash other than gold of about 8 millions, Philadelphia shows a decrease of 2.4 millions of gold and of about 0.7 million of other cash, while Chicago reports a reduction in its gold reserve of 3*1 million dollars. These losses are partly offset by gains in reserve shown for the Boston, Richmond, Kansas City and Dallas banks, and by the larger amount of items in transit between the Federal reserve banks. Practically no change in the amount of rediscounts held by the banks is shown, the holdings of the three Southern banks constituting 70 per cent of the total reported. The week witnessed considerable purchases of acceptances by the Boston and New York banks, increasing the relative holdings of this class of paper to 62*6 per cent of the total paper held by the banks. About one-thir^d of thd paper on hand matures within 30 days and over 35 per cent after 30 but within 60 days. More than 2 millions of all bills on hand is agricultural and live-stock paper maturing after 90 days> Dallas reporting about 45 per cent of this class of paper4 The amount of short-term investments shows an increase of about 0*3 million. Over 5 millions of United States bonds were bought during the past week, New York purchasing S*7 millions, Atlanta over 1 million, while smaller additions to their bond holdings are reported by 5 other banks. The total amount of United States bonds, all bearing the circulating privilege, bought since January 1, is about 23.5 millions. The total earning assets constitute at present 237.per cent of the paid-in capital, compared with 221 per cent thw week before and 147 per cent 3 months ago. Of the total earning assets the share of United States bonds is 30.2 per cent, that of acceptances 27.8 per cent, the share of short-term investments - 25.4 per cent, and that of discounts^16.6 per cent. Government deposits show an increase of about 1.7 millions, while net member tank deposits decreased over 3 millions, Boston, Philadelphia and Chicago reporting heavy withdrawals of deposits for the week. Federal Reserve Agents show a total of 191.2 millions net of notes issued to the banks, or about 1/2 million less than the week before. Ten banks retired notes during the past week, while Boston and Kansas City report additional issued. Against the net amount of notes issued to the banks the Agents hold 179.3 millions of gold and 13 millions of paper, The banks report an outstanding circulation of 164.9 millions, and aggregate net liabilities thereon of 10*2 million dollars. > Released, for publication Sunday morning March 19, 1916. Not earlier. MARCH 17, 1916. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS R E S O U R C E S 0 0 1 4 . u K M "lted.stateE.Ir™::::::::: 19,1915. March 17, 1916. March 10, 1916' December 17, 1915 September 17, 1915 March 244,317,000 224,402,000 63,040,000 801•000 » E 245,018,000 288,639,000 s i S S 3 * # ^ 21.650.000 16.001,000 266,668,000 304,640,000 '"»==.:= Sill* Smmm ill 4,784,000 12,997,000 17,452,000 7,294,000 1,134,000 43,661,000 9,047,000 24.444,000 77,152,000 12,481,000 8,533,000 3.382.000 406,188,003 „ .. l 1 V® Capital paid !' 1 * 'S 8 • ' S s E ^ E E E E E E Federal reserve sank notes m circulation. . m 54,937,000 3? 3£0 000 E E l E g i 14s'000 "totIL^iabilities'.eeeeeeeeeeex 54,944,000 30,639,000 54,900,000 15,000,000 " 145.OOO S S 7.036.000 S^mt.OOO 4e»,m,o<x> :::::::: ra w : Cash reserve against net deposit liabilities after setting i f (A^Less items in transit between F.' R. banks viz $16,348,000 12,647,000 »•«... 21,331,000 J 9,545,000 11,336,000 ( 9,013,000 29,894,000 6,639,000 14.933,000 51,466,000 5,113,000 6,551,000 3.383,000 333,181,000 36,119,000 54,749,000 15,000,000 316,953,000 16,562,000 288,575,666 2.924.000 406,188,000 333,181,000 8,487,000 ... 84.9$ 59.6$ 84. 3$ 91.8$ 92.1$ 93.4$ 8,533,000 6,551,000 dj b Released for publication Sunday morning March 19,1916, Not earlier. ,7 lQl r WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 17,1916. (In thousands of dollars) R E S O U R C E S Boston N. Y, $12,280 155,099 Gold coin and certif.in vault 4,841 7,771 Gold settlement fund 5 250 Gold redemption fund _ 17,126 163,120, Total gold reserve 74 2.518 -Legal tender notes,silver,etc. — 17.200 165.638 Total reserve — 122 295 Bills discounted - Members 1.1-291 14.557 Bills bought in open market _ 14,852 11,413 Total bills on hand 2,670 986 Investments: U. S. bonds 13.433 2.923 Municipal warrants 30.955 Total saming assets „ 15.322 14,489 768 Federal reserve notes - Net from other F. R. banks — Net 372 129 All other resources 211.454 TOTAL RESOURCES 33,419 Clevel. 11,471 10,166 40 21,677 LM5 22.842 323 924 1,247 4,091 3.996 9.334 431 66 876 2,362 365 260 32.467 33.848 Phila. 7,163 7,324 50 14,537 3.408 17.945 245 4.043 4,288 4,206 3.340 11.834 Richm. Atlanta Chicago St.Lo.uis Minnls. Kas.Cy. Dallas S.Fran. TOTAL 5,640 34,478 5,157 3,421 4,759 4,072 5,614 253,830 4,726 78,970 5,611 5,674 3,834 4,368 3,666 10,325 4,377 11,013 __1,623_ 353 200 85 30 81 204 10 315 8,506 14,601 10,001 334,473 7,819 9,076 16,054 11,604 40,352 lll.304 160 943 6 472 800 231 1.409 118 345 777 15.544 10.00? 8,666 8.291 9.876 16.172 11.835 41,761 21,608 1,943 4,700 474 791 683 6,390 4,036 1,606 36.092 583 - 987 615 659 76 562 1.795 57,700 1,461 4,700 2,526 1,406 1,342 3,401 4,598 6,466 39,213 3,035 1.295 7,978 2,114 6, 6C3 3,339 1,220 1,676 33.034 1.852 1.029 1.419 3.684 JL267 91 5.818 13.688 5.948 4.939 11,533 5,995 6,348 129,947 8.233 ,264 24,608 930 795 1,865 l,072(a)l6,248 1,379 3,681 1,764 7,520 178 1,513 P. 60 5.028 247 291 119 1.367 406 .019 193 26.111 18.~850 65,240 19,750 17,960 21,869—21,786—22,9 51—521,608 L I A B I L I T I E S . Capital paid in Government deposits Reserve deposits - Net Federal reserve notes — Net F. R. bank notes in circulation Due to other F. R. banks - Net All other liabilities TOTAL LIABILITIES 5,158 125 26,638 11,122 8,477 189,695 5,256 160 27,051 3,345 5,948 6,870 740 27,160 11,489 4,361 2,416 6,690 8,464 1,178 6,655 939 57,646 2,706 1,098 15,864 2.560 429 14,971 - 1,498 - 33.419 2,160 ~ 211.454 - 32.467 33.848 46 26.111 102 IW6 18.850 - 65.240 - ~ ZI, 19.750 17,960 54,937 2,738. 3,943 32,380 9 58 5,290 9,873 18,050 423,259 10,203 3,446 681 439 148 — — 21,869—21,786—22,951—521,608 3,008 604 16,358 1,218 681 - — — — — — — - M E M O R A N D U M . 7,681 13,200 10,192 14,427 10,906 191,165 15,053/ 4,179 7,463 10,755 F. R. notes issued to the bank s 9,696 75,471 12 26.298 5.264 232 12 930 795 8374 1.865 431 66 14.489 768 F. R. notes in hands of banks 164.867 5, .642 2.314 6.886 12.270 10.180 14,195 7,397 10.324 11.533 14.216 8.928 . 60.982 f X r . notes in circulation 8,962 10,749 10,906 179,272 7,681 13,200 4,179 7,172 13,038 10,755 7,463 75,471 9,696 Golf -nd lawful money with Agent 24,608 5,264 930 795 1,865 431 66 14,489 768 CarflPB. to net assets 10.203 3.446 1.218 4.361 1.178 Carried to net liabilities total amounts due from less total* amounts due to other Federal reserve banks. (a) Items in transit i. I . .- ' ...:. Not earlier. HeTeased for publication Sunday morning March 19, 1916. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MARCH 17, 1916. (in thousands of dollars) Boston Federal reserve notes: Received from the Comptroller N, Y. Phila. Clevel. Richra. Atlanta Chicago St.Louis Minnls.Kas.Cy. Dallas $19,380 109,240 15,480 13,360 17,000 9,600 19,000 13,000 20,400 9,380 1,266 320 157 14,942 19,134 9,060 9,443 1,464 20,769 1,924 885 17,916 85,471 13,556 12,475 In hands of F. R. Agent 8,220 13,000 6,093 1,720 2,800 4,081 4,881 1,762 Issued to F. R. bank less amount returned to F. R. Agent for redemption 9,696 75,471 7,463 10,755 12,142 15,053 4,179 7,681 9,065 71,398 3,360 9,760 631 4,073 503 995 Returned to the Comptroller Chargeable to F. R. Agent Anounts held by F. R. Agent: Ida redemption of liability on outstanding notes: On hand: Gold coin and certificates Credit balances: In gold redemption fund 3,600 With Federal Reserve Board As security for outstanding notes: Comma rcial pape r TOTAL 9,696 tount of commercial paper delivered to Federal Reserve Agent 75,471 2,058 - - 19,000 12,665 5,800 9,540 669 562 6,700 11,950 3,760 4,440 2,350 4,100 1,230 15,053 4,179 7,681 -- 2,015 -- -- 5,499 246,978 4,300 650 7,463 10,755 12,142 19,410 10,906 14,427 391 2,015 30,602 13,200 10,192 419 4,970 454 970 4,983 1,088 13,200 10,192 -- 1,231 TOTAL 20,380 11,360 •277,580 2,473 2,850 10,200 472 335 S.Fran. 55,813 10,906 191,165 120,473 286 10,739 540 10,620 48,060 11,893 3,678 14,427 10,906 4,278 -- 191,165 13,023
@FedFRASER