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/' >■ leased for publication Sunday morning March 26, 1916* Not earlier. 591* STATEMENT FOR THE PRESS, March 25. 193-6. The weekly statement showing the condition of the Federal reserve banks as at close of business on March 24, indicates gains of about 7 . 7 millions in the banks' combined gold reserves and of 8 . 6 millions in their total cash reserves. The earning assets of the banks,as the result of considerable investments in bankers f acceptances and ad ditional purchases of United States bonds, show an increase for the week of 3*4 million dollars. The reserve situation shows but little change, as the gain in total cash was accompanied by an almost equal gain in deposits and a reduction by 3 * 6 millions in the amount of the "float". New York reports a gain of almost 10 millions of gold on ac count of larger deposits carried by the Government and member banks, and of substantial transfers to its credit on the books of the Gold Settlement Fund. Chicago and Richmond report additions of 2 * 8 mil lions and over 1 million dollars to their gold reserves, as the re sult of larger credits in the Gold Settlement Fund and increased deposits. Boston, as the result of heavy transfers on the books Of the Gold Settlement Fund and the building up of credits with other Federal reserve banks, reports a net withdrawal of 2 .8 million dollars of gold. The amount of commercial paper in the hands of the banks shows a further decrease of about 0»3 million, all the banks more active in the discount field, except Kansas City, reporting smaller figures than at the end of the preceding week. Bankers ' acceptances dhow an increase for the week.of 3*1 millions, Philadelphia said Boston reporting the largest gains under this head. During the w e k $ "banks increased their aggregate holdings of United States bonds by about 0 .9 million dollars* The amount of Gov ernment bonds purchased by the banks since January 1 of the present year is in excess of 24 million dollars. Municipal warrants held by the banks show a decrease of about 0 .4 million, Philadelphia alone re porting increased holdings of this class of securities. Of the total earning assets of 133*^ millions„ United States bonds constitute at present 30*1 Per cent; acceptances - 29*4 per cent; war rants - 24*5 per cent; and .discounts - 16 per cent. The ratio of total earning assets to paid-in capital has risen to 243 per cent from 237 per cent shown the week before., and 152 per cent 3 months previous. Government deposits increased about 2*7 millions, the New York bank reporting a gain of about 1.2 millions under this head. As the result of considerable gains reported by the New York and B o s t o n banks, member banks' deposits show an increase for the* week of 5 * 6 millions. The amount of circulating Federal reserve bank notes secured by the deposit with the Treasurer of the United States of Government bonds, now e-xceeds 1 million dollars. Federal reserve notes totaling I 9O .9 million dollars are reported outstanding by the Federal Reserve Agents. Of this total the banks held 27*1 millions, the remainder, 163*8 millions, being in actual circulation. Against the total issued to the banks the Agents hold 173.7 millions of gold and 12*4 millions of paper. The banks1 aggregate net liabilities on circulating reserve notes is at present less than 10 million dollars. Released for publication Sunday morning March 26, 1916 . Not earlier. 591 a. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS MARCH 24, March 24, 1916. March 17, 1916. R E S O U R C E S . 253, 880,000 Gold coin and certificates in vault.- .................................. - $260, 866,000 78, 970,000 79*620,000 Gold redemption fund. with.United.Statas T r e a s u r e r ........ 1, 623,000 1.578,000 334, 473,000 342,124,000 11,304,000 12. 221.000 3^5,777,000 354,347,000 Bills discounted and bought: 6,773,000 7,855,000 12,128,000 From 11 to 30 days......... ................................. 10, 926,000 20, 511,000 21, 106,000 16, 272,000 i s , 635,000 2 , 016,000 0ver 90 days 2 . 028.000 57 , 700,000 6o , 550,ooo_g«f 39 , 213,000 Investments: United States bonds...................................... 4o,i^Tooo _ll«.Q3iLOog 12^ 6 6 2 4 9 0 ^ 3 129, 947,000 V earning assets................... ................................... 133, 5 1 ^ 0 0 24,608,000 24,849 ,000 frfce Federal reserve banks - N et. ................................... 12, 628, o m jjir 16,248,000 *5,028,000 k.m ^ru6o All resources. 521 , 608,000 $ 529 , 993,000 TOTAL RESOURCES................................ ... .............................. December 23, 1915276, 197,000 69, 960,000 1,224,000 347,381,000 2^73x000 357, 054,000 6, 133,000 13, 524,000 17, 861,000 12, 830,000 4,071,000 54, 421,000 15, 060,000 14.094,000 83, 575,000 21,008,000 24,977,000 4,194,000 490,808,000 1916 . September 24, 191$ March 26,1935229, 972,000 241,344,000 . • *« • « • • 59, 050,000 1 , 202,000 824,000 290,224,000 242,168 ,000 22,920,000 23\098.000 313,144,000 265,^ \ 66,000 \ 7,487,000 ) 9 ,7 1 s ,000 11,997,000 15, 5bl ,000 14,514,000 8, 173,000 ^ 7.454,000 ... 1^.21^,000 44,431,000 31, 683,000 9, 328,000 6 , 639,000 .2 4 , 9.45., 000 14,940,000 78,704,000 53,262,000 14, 866,000 6 , 091,000 7, 409,000 5,573,000 3 ,5 77 ,000 .3,019,000 417,700,000 333, 211,000 L I A B I 1 I I I E S . Federal reserve bank notes in circulation........................... TOTAL LIABILITIES........................... .................................. Gold reserve against net deposit and note liabilities (A) Ca3h reserve against net deposit and note liabilities (A) vCash reserve against net deposit liabilities after settingXz> ^aside 4o$ gold reserve against aggregate net liabilities (A)Hbess items in transit between F. R. banks viz 54, 937,000 32 , 380,000 423, 259,000 10, 203,000 54,901,000 15, 000,000 398, 603,000 14,670,000 • • * ♦ 4* 4 7,634,000 490,808,000 54,748,000 15, 000,000 329,9^1/000 15, 348,000 • * * • « 1« 2 , 663,000 417, 700,000 86. 1$ 88. 5$ 82. 2$ 88. 7$ 83. 1$ 91. 0$ 90.4$ 77 . 8$notes in circulation on Federal reserve ( A ) ...................... 91. 0$ 77-6$ 92 . 6$ 54, 910,000 35,088,000 428,816,000 9,977,000 1, 053,000 154,000 $529, 993,000 74 . 2$ 76 . 8$ $ 12, 628,000 681,000 148,000 521, 608,000 74. 4$ 76 . 9$ 16,248,000 14,977,000 7,409,000 36, 105,000 * V* « • • • 288, 217,000 8, 889,000 • ♦ * * % • » ♦ » * • « ft * 333, 211,000 5,573,000 551- *• Released for publication Sunday morning March 26, 1916 ." Not earlier. 2 L 0 SE OF BUSINESS MARCH 24, 1916 . ^ ' WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE THELVE FEDERAL RESERVE BATJKS AT (In thousands of dollars) R E S O U R C E S TOTAL Phila. Clevel. Richm- Atlanta Chicago St. Louis Minnls, Kas.Cy. Dallas S.Fran. N. Y. Boston 260,866 4,718 5,721 4,037 6,210 11,53S 4,754 5.70S 36,431 5,077 3.589 Gold coin and certif. in vault $10,244 162,239 4,36S 79,680 3 , 87? 10,036 6,440 9,975 12,012 5,177 6,519 2,647 4 , 59 s 10,537 Gold settlement fund 3,443 192 10 c. jy J Gold redemption fund s, 670 14,265 10,099 342,124 8,217 7,778 14,292 173,076 12,700 21,550 17,104 11,223 43,150 Total gold reserve 845 _____ 9..... 12/223' 474 128 ... .1.59 . 1.735 . Zl 6 1,158 283 3,281 3,382 53 Legal tender notes,silver,etc. . 10,108 354,347. S,494_ S.829 11,506 8,691 22,708 44,885 .15*110 176,458 15,981 17 .232 "iC m Total reserve 514 4,536 21,306 2,010 650 776 6,262 1,59S 98 Bills discounted - Members 3,953 307 323 279 1,108 39.244 687 843 66 5,l4l 2,165 675 12 , 2^6 573 14.725 1,025 Bills bought in open market 1,622 4,536 60,550 1,451 4,526 2,697 6 , 32 s 1,348 1,493 5,420 12,334 3,763 15,032 Total bills on hand 40,152-?*^ 2,214 7,978 3,035 4,224 1,676 4,206 1,370 3,339 9S6 6,677 3,152 Investments: U. S. bonds I W f 1,832 1.356 1.241 999 3.630 32,.66.9. 13.378 3.344 91 3,965 Municipal warrants . 2,833 ,_11J l Z4 5.,s.tm?i,485_. ... 5,021 14,070 5.896 6 . 0 1 1 . 12.970 12.1 m ...* 0'* 31.562 9.537 8.095 16,153 Total earning assets 24,849 845 1,127 5,277 491 154 14,139 1,281 1,535 Federal reserve notes - Net 360 1 , 272(a ) 12,628 1,4-18 4,768 2,376 3,054 721 2,507 751 Due from other F. R. banks — Net 2,006 779 3¥*°V 185 127 332 11 s 1,026 4 , &Q 111 383 111 1,193 ..... 395 25 All other resource3 18,020 22,420 IS.884 21,635 529,998 65,590 21,311 „ 19,346 26,166 222,554 33,903 33,310 31.723 A TOTAL RESOURCES 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 1 5,158 b) - 12 ( 28,664 - - 33,810 M E M O R A N D U M . F. R. notes issued to the banks 10,472 1,281 F. R. notes in hands of banks 9,191 F. R- notes in circulation Gold and lawful money with Agent; 10,472 1,281 Carried to net assets Carried to net liabilities (a) Items in 4*' 11,122 9,632 194,416 5,215 233 26,275 7,3S4 —— 5 , 948 ’3,3^5 794 7,267 27,161 11,365 4,l4o 2,4l6 7,088 8,75^ 983 6,654 1 2,788 90S7 1,376 58, 02$ 14,720 —— . — 222,554 31,723 33,903 75,23S 14,139 61,099 75,23S 14,139 7,322 154 7,168 7,322 154 10 ,^ 5 491 10,234 10,725 491 105 49 26,166 19,346. 65,590 11,907 330 11,077 6,937 15,020 1,032 13,988 13,005 3,824 1,535 2,289 3,824 1,535 2,560 380 15,080 3,009 so4 16,446 1,108 1,053 : : 18, S84 18,020 4,i4o ___ 983. ---T"-- 1 7,666 845 6,821 7,666 845 2,751 5,419 9,719 3,746 3,944 1,200 18,1S7 : : 22,420 ..2L.63.5... 23,331 54,910 35, OSS 428,816 9,977 1,053 154 529,998 10, S4S 190,903 27,069 5,277 14,464 _1,5I1. 163. 834 10,718 10,84S 178,706 24,849 5,277 . 1 ,1 0 8 . JLZ-46 ....9,977. 13,072 10,109 122 1,127 11,945 _^2_87 13,072 8,879 1,127 14,700 ....236.. (b) Overdraft Re Is as ocl for publication S’-.ndg,y morning Meuch 26, I 9I 6» cra c. Not earlier* STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF^BUSINESS MARCH 24, 1916. ( In thousands of dollars. j Boston 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 Amounts held by F. E. Ags&'o: -He redamption of liability on out 31 a.r»ding notes: On hand: Gold coin and certificates $ 19,380 1,488 17,892 7,420 N. Y- 109,240 15,420 21,002 2,065 88,238 13,415 13,000 §,093 13,360 17>000 9,380 2,293 1,299 675 12,425 14,707 19,101 8,705 9,428 18,872 4j881 1,762 935 1,700 2,800 75,238 7,322 107725 9,8^4 71,393 3,360 9,760 608 3,840 482 965 3,480 With Federal Reserve Board As security for outstanding notes: Commercial paper - - T O T A L 10,472 Amount of commercial paper delivered to_ Federal Reserve Agent 75,238 7,322 9,600 19.000 20,400 10,472 Credit balances: In gold redemption fund S .Fran. TOTAL 13,000 20, 3 30 Il,3o0 277, 5'30 1,021 512 32,003 12,582 19,359 10,848 245,572 Phila. Clevel. Richm. Atlanta Chicago St.Louie Li^1x113 • Kas • Cy * Dallas 10,725 11,907 4,081 15,020 3,824 172 128 418 5,800 2 ,4 73 4,659 —_ 54,669 7,666 13,072 10,109 14,700 10,848 190,903 2,850 10,050 4,300 9,540 — ~ 121,122 407 1,055 ftl4 376 672 479 638 278 10,214 6,530 11,950 3,410 4,44o 2,350 4,100 540 10,570 47,370 4,970 2,015 1,230 3,982 - - 12,197 11,907 15,020 13,072 10,109 14,700 10,S 4o 190,903 5,015 2,015 -- 1,235 4,108 3,824 -- 7,666 -- 12,373
@FedFRASER