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863 Released f o r p u b l i c a t i o n Sunday morning Oct. 29, 1916. Not e a r l i e r . STATEMENT FOR THE PRESS. October 28, 1916. Grains of over 15 m i l l i o n s in t o t a l reserves and in net member bank d e p o s i t s and a l a r g e i n c r e a s e in the amount of acceptances held by the Federal reserve banks are i n d i c a t e d by the weekly bank statement issued to-day by the Federal Reserve Board as a t close of business on October 27, 1916.• Gold r e s e r v e s show an increase f o r the week of 13*7 m i l l i o n s . Aggregate gold holdings of the s y s tem, including the amounts held by the Federal Reserve Agents a g a i n s t notes issued are now $617,481,000, a gain of n e a r l y 125 m i l l i o n s f o r the l a s t s i x months and of over 192 m i l l i o n s f o r t h e p a s t year. All t h e banks exdept P h i l a d e l p h i a , Chicago, Dallas and San Francisco r e p o r t l a r g e r gold r e s e r v e s than the Week before* Boston r e p o r t s an i n c r e a s e of 2*9 m i l l i o n s in i t s gold holdings, the r e s u l t of l i q u i d a t i o n of acceptances and w a r r a n t s , alsti of the reduct i o n in the balance due from o t h e r Federal r e s e r v e banks• Naw York's gain of gold f o r the week, 13,8 m i l l i o n s , i s due c h i e f l y to t r a n s f e r s t o i t s account on the b^oks of the Gold Settlement Fund of balances due from o t h e r Federal reserve banks and t o a smaller e x t e n t to increased Government and member bank d e p o s i t s . In the case of Kansas City the increase of gold by 3.3 m i l l i o n s is due to increased d e p o s i t s and the reduction of i t s favorable balance in account with o t h e r Federal reserve banks, while the increase of gold reserve shown f o r the St*Louis bank i s due c h i e f l y to an i n crease in d e p o s i t s * /The reductions in gold reserve noted r e s u l t c h i e f l y from t r a n s f e r £ / t § ° o x h e r Federal reserve banks through the Gold Settlement Fund, and in the case of Chicago from net withdrawals of member bank d e p o s i t s . Discounted paper on hand decreased $234,000, the l a r g e r aggregate d e c l i n e reported by the 3 southern banks being o f f s e t in p a r t by increases shown f o r the Minneapolis and New York banks. The t o t a l discounts include the amount of $1,099,000 advanced to 8 member banks a g a i n s t t h e i r own c o l l a t e r a l n o t e s , Acceptances on hand t o t a l $86,085,000, the l a r g e s t amount ever shown in the Board's weekly statements, and r e p r e s e n t a gain of 3*4 m i l l i o n s f o r the week. Largely increased holdings of t h i s class of paper are reported by the Cleveland, Chicago, Dallas and San Francisco banks, Of the t o t a l b i l l s , including acceptances, on hand 34*8 per cent mature w i t h i n 30 days and 36.5 p e r cent a f t e r 30 b u t w i t h i n 60 days, - 2 - 863 Transactions i n United S t a t e s s e c u r i t i e s a r e reported by 9 banks, r e s u l t i n g in decreases of $866,000 in the amount of bonds and of $262,000 in the amount of Treasury notes on hand. Liquidat i o n on a l a r g e s c a l e of matured warrants i s mainly responsible f o r t h e decrease of $2,653,000 i n the t o t a l holdings of municipal warrants. Total earning a s s e t s are given as s l i g h t l y over I89 mill i o n s which i s 339 P e r cent of the t o t a l p a i d - i n c a p i t a l of t h e banks, as against 3^1 P e r cent shown the week b e f o r e . Of the t o t a l earning a s s e t s 45>5 psr cent i s represented by acceptances; 21.4 per cent by United S t a t e s bonds; 15.8 per cent by warrants; 11.2 per cent by d i s c o u n t s , and 6 . 1 p e r c e n t by Treasury n o t e s . Government deposits increased $3,866,000, a l l the banks except Boston r e p o r t i n g l a r g e r Government funds on hand. All the banks except Boston and Chicago r e p o r t considerable gains i n net menbef bank d e p o s i t s . Federal r e s e r v e bank notes in c i r c u l a t i o n a r e given as $1,031000, a s l i g h t decrease f o r the week. The t o t a l of Federal r e s e r v e notes issued t o the banks by t h e Agents i s $234,876,000 n e t , or $4,073,000 i n excess of t h e t o t a l shown the week b e f o r e . Against t h i s t o t a l t h e Agents hold $219>502,000 of gold and $15,817,000 of commercial paper. The banks r e p o r t a t o t a l of $214,622,000 of Federal r e s e r v e notes in a c t u a l c i r c u l a t i o n and aggregate l i a b i l i t i e s of $11,$66,000 on notes issued to them by the Agents. ^TATEffiNT0OF^COMBIHED°MSOTOCESmMD'LLIABIl.ITIES OF THE T'^ElVE FEDERAL RESERVE BANKS OF THE UNITED STATES AT CLOSE OF BUSINESS OCTOBER 27,191b. !«i m m M m 1"» Five per cent redemption fund a g a i n s t F. R. l»ank notes 420,000 420,000 450,00 0 3 2,000 am# m i Gold reserve a g a i n s t net deposit and note l i a b i l i t i e s (A).. Cash reserve a g a i n s t net deposit and note l i a b i l i t i e s ( A ) . . Cash reserve a g a i n s t net deposit l i a b i l i t i e s a f t e r s e t t i n g aside 40$ gold r e s e r v e a g a i n s t aggregate net l i a b i l i t i e s f SIS 115 71*0% 72.8$ Jo*w 72-4$ . . j l j Le^s~iterns"in~t r ansi t _ b e t w e n ~ F e d e r a l _ r e s e r v e _ b a n k s _ v i z ! $33,197^000 ~ ~ 307604,000 fia Q<£ 69.9/ * " 127620,000 72.2$ 7 * / 87.5$ 72.8# 89.4$ 14,658,000 8,533,000 r Released f o r p u b l i c a t i o n Sunday morning October 29, 1916. Not e a r l i e r . 863 b . % ' WEEKLY STATEMENT OF RESOURCES AMD LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER 27, 191b. ( i n thousands of d o l l a r s ) "RESOURCES * Boston N. Y. PHila* C l e v e l . Richnu A t l a n t a Chicago S t . L o u i s Minnls. Kas.Cy* D a l l a s S.Fran* Total S G vault " " l d T s t i r l o l d r™!rve 3ilver etc ' &S 24,994 - 178,197 ^ llli itill till 21,384 27,758 ~.i°i ^ 5% reden.pt. fund - F, R. b?.nk n o t e s - B i l l s discounted - Members U7I B i l l s bought i n open narket 10.4l0 T o t a l b i l l s on hand 10.881 •Investments: U. S. bonds 2,1)2 One-year U. S. Treasury n o t e s 1,000 Municipal w a r r a n t s __UJ8 T o tal e a r n i n g a s s e t s 17.751 F e d e r a l r e s e r v e n o t e s - Net 1,407 Due from o t h e r F. R. banks - Net 1,137 All other resources 125 TOTAL RESOURCES 46.Il6 -- 357 355 12,417 6,812 12.77% 7.167 2,17b 5,737 1,174 718 1^280 4,611 35.891 19.4o4 18,231 10,750 520 342 1,842 1,524 1,912 243 ZZ 232,154 4 l , 1 5 1 49.610 -3,758 1,826 5.584 523 1,070 6l 7.238 - 372 -53 30,962 5,024 1,668 )9,257 11,909 4,178 216,042 5,224 3,919 )4,074 __ —~ „ F . R . E n o t e s R i s s u e d t o ' ^ h e banks F . R. n o t e s in hands of banks 11,121 1,407 167 J-v 46.116 ^ r — 1:"l I'Ml i&S 6,858 49,254 7 .as 4,:: ^ 10,921 15,835 14,084 14,118 3,798 225 20,583 5,5 7 1 2,870 700 1,609 10,750 817 1,523 31,589 24,266 5,994 1,399 42,217 __ __ 3,340 2,479 ) , 9 0 4 • ),487 19,649 12,228 3,924 2,352 __ __ 6,679 2,45) 74,049 - __ 2,794 2,64o 23,693 2,456 — - 2,605 3,044 2,690 3,921 998^ 826 x,826 2,678 20,663 26,59) 1 6 , 9 ^ ) &6,pv. - 1,031 2,203 - — — 1,031 — — — 145 37 Li - ±JLl 30.962 20,583 83,181 15,626 2^6 136 -L 43,353 - 49,610 81,831 10,750 8,473 52Q 8,797 )42 10,75° _5!° ^ . -2U 22,095 1^62 ),U5 L222 397,979 ^:g - 2,397 5 , ^ 7,841 2,348 891 1,429 12,509 - 6,323 25 232,154 -3,020 M52 6,827 1,210 824 291 9,152 11,354 dg - 2,942 6,460 9.402 7,436 1,517 1,135 22.150 1,299 9,569 M 83,181 1,092 24.545 25.637 1,4.1 3 1,205 C a n i t L A p a i d i n 1 T 1 E S '* Government d e p o s i t s Member bank d e p o s i t s - Net F e d e r a l r e s e r v e n o t e s - Met F. R. bank n o t e s i n c i r c u l a t i o n Due t o o t h e r F. R, banks - Net All oX t hlie e rI l -Liau-l i a b i l JiLJtLi LJLv es ^ TOTAL LIABILITIES : i : - : :: i: :: j : i i : : t : ^ 23,222 n 2,533 370 798 2^21) ^,011 9,270 963 562 1),806 2,287 122 32,5)1 50 ~ 3,173 235 21,1)1 110 8,40) So,085 3,881 8,638 107,21b 2,720 2,6)4 40,469 lOo 668 11,435 g? 2,8g 29 89O U 3 3 _ l & . 7 9 3 189,010 ~ ~ ' ' 1Q 7 2 839 , C t ? l ( a ) ) ) , 197 L_g8 373 3,708 23,604 33,1^1—051,13b 55,703 -9,982351,918 11,96b 1,0)1 31,589 ^7 24,266 3 2 , 5 ) 1 2),664 §6> TZ—TTZ 7>TI5)6 )3,127 651,136 13,916 ^ 15,415 -ML 25,783 ?4) 10,368 1,711 — : w 18,276 g9 TTTi 2)4,876 20,254 I , g - i . g^ (a) Items in t r a n s i t i . e . t o t a l amounts duo from l e s s t o t a l amounts duB t o o t h e r F e d e r a l r e s e r v e u eu Released, f o r p u b l i c a t i o n Sunday morning October 29, 1916. Not e a r l i e r . . 863 c. STATEMENT OF FEDERAL R1SET.YE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS OCTOBER 27, 1916. (In thousands of d o l l a r s ) ^ Boston F e d e r a l Reserve Notes: Received from t h e Comptroller N. Y P h i l a . Clevel- Richm. A t l a n t a Chicago St-Louis Minnls, Kas. Cy.- D a l l a s S.Fran.• TOTAL $24,880 i4s,4oo 15,480 15,160 23, 500 29,420 9,380 18,560 21,000 23,220 35,320 14,440 378,760 5,739 47,009 5,327 3,063 5,724 3,340 1,324 1,984 665 1,731 3,776 1,512 81,194 19,1^1 101,391 10,153 12,097 17,776 26,080 8,056 16,576 20,335 21,489 31,544 12,928 297,566 In hands of F . R. Agent 8,020 19,560 1,680 3,300 2,150 3,985 4,881 2,660 4,920 3,213 5,761 2,560 62,690 Issued t o F. R. tank l e s s amount r e t u r n e d t o F . R. Agent f o r redemption ' 11,121 81,831 8,473 8,797 15,626 22,095 3,175 13,916 15,415 18,276 25,783 10,368 234,876 10,500 78,815 3,820 8,280 4,270 10,340 621 3,016 473 517 Returned t o t h e Comptroller Chargeable t o F . R. Agent Amount held by F. R. Agent i i n r e d u c t i o n of l i a b i l i t y on outstanding notes: On hand; Gold c o i n and c e r t i f i c a t e s Credit balances: In gold redemption fund T 7ith F e d e r a l Reserve Board — - - - 4,180 — — 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 paper Total 11,121 Amount of commercial paper d e l i v e r e d t o F e d e r a l Reserve Agent — *- 81,831 8,473 8,797 4,560 5,065 12,330 137,980 4o6 964 225 694 735 966 1,317 458 10,392 11,000 13,050 2,950 4,810 2,350 11,500 11,380 9,910 71,130 4,220 3,521 1,540 2,746 15,626 22,095 18,276 25,783 4,240 3,525 1,643 3,061 — — 3,175 — — 3,347 13,916 3,3^8 — - 15,415 — — — — 10,368 — — 15,374 234,876 15,817
@FedFRASER