The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
V Released for publication Sunday morning September 24, 1916, Not earlier, STATEMENT FOR THE PRESS. Sept. 23, 1916. The Federal Reserve Board made public today its regular v/eelcly bank statement as at close of business on Friday, Sept. 22, 1916. The state ment^ indicates an increase for the week of about 1 million in the banks' combined ^old reserves and of about 3/4 million in the aggregate cash re serves, Cheer: iderable shiftings of gold between the banks are shown to have takfcr, o.■ace during the past week, largely through transfers on the books of tns gold settlement fund. Considerable gains cf gold are report-' ed by tne New ,rork; Philadelphia and San Francisco banks. In the case of the first named bank the gain in gold reserve is due in p&rt to increased de.t>osi»,s and tne liquidation of acceptances and Treasury notes. Philadslpnio-'s gain in gold is accompanied by a considerable increase in the amount . due to other Federal reserve banks, while San Francisco*s increased gold reserve is due to tne transfer of gold from other reserve banks at the last settlement. The 3 Southern banks, al 30 Chicago and St, Louis, report smaller gold holdings than at the end of the preceding week, Practically no change for the week is shown in the aggregate of dis counted paper held, Of thfe Southern banks, Richmond and Dallas show smaller totals than^the Week before, while Atlanta reports a gain of otg f one-half million in its holdings of discounted pa^er. The total given includes the amounts advanced to member banks upon their own promissory notes secured by collateral in the shape of commercial paper or U. S, securities. All the ederal reserve banks have announced special rates varying from 3 to 4 per cent for loans of this character. Acceptances on hand show an increase of a out 1,3 millions despite the fact that the 3 Eastern banks report de creased holdings,^ Of the total bills, including acceptances, on hand, 42 per cent mature within 10 days and about 33 per cent after 10 but within 30 days. Transactions in U, S, securities are reported by 3 banks, resulting in pin increase of $638,000 in the amount of U. S. bonds and a decrease of million in the amount of 1-year Treasury notes held. Further purchases of New England town notes also of Georgia State warrants account for an increase by about $423,000 in the aggregate holdings of municipal warants. Total earning^assets stand at present at $191,319,000 or 345 per cent of the banks * paid-in capital as against 343 per cent the week before. Of the total earning assets 43,8 per cent is represented by acceptances; 24.9 per cent by U. S. bonds; 14.5 per cent by discounts; 12,6 per cent by warrants and 4,2 per cent by Treasury notes, Large amounts of mutilated reserve notes in process of redemption account largely for the increase by about 5.5 millions in the amount of "All other resources". Government deposits show a net decrease for the week of about onequarter million dollars, New york and St, Louis reporting considerable v/ithdrawals of Government funds. Net member bank deposits increased over millions, the larger gain reported by the New York bank being offset to some extent by substantial net withdrawals from the Chicago and Dallas banks, • Federal reserve bank notes in circulation decreased about $300,000 during the week. Federal Reserve Agents report a total of $209,778,000 net of notes issued, an increase of $7,248,000 for the week. Against this total they hold $193,110,000 of gold and $17,981,000 of paper. The banks' reports indicate a total circulation of Federal reserve notes of $191,635,000. Their aggregate liabilities on notes issued by the Agents is stated as $14,605,000. 814 a . Re^^ai?Bd for publication Sunday r.iorning September 24, 1916. Wot earlier. STATEMENT OF COME I FED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS OP THE UNITED STATES AT CLOSE OF BUSINESS SEPT. 2 2 ,1916. R E S O U R C E S . September 22, 1916 September 15, 1916 Gold coin and certificates in v a u l t ........................................ $258,711,000 250,308,000 117,791,000 125,271,000 Gold settlement fund..................................................................... Gold redemption fund with United States Treasurer........... . . 1.941.000 1.894.000 3 7 8 ,^ 3 ,0 0 0 377,473,000 Total gold reserve .............................................................. Le..al tender notes, ‘ silver, e t c .. .............................................. 7.642,000 7,.898.000 Total r e s e r v a ...................................................................... . 386,085,000 385,371,000 Five per cent redemption fund against F. R. bank notes . . . . 500,000 500,000 Bills discounted and bought: _ ^ Maturities: Within 10 days . . ............. .................................. . 24,3-?t*?tXX) Xd. 15,685,000 From 11 to 30 days ................... ....................... 24,2*8^550* f t 32,521*000 37,GS*T0d5' 2 1 39,788,000 From |1 to §0 days .............................................. Trcm M to. $ 0 . U j b ................................................ 23 58^0d 0 J , 20, 697,000 Over 96 days........................................................... l*4&?-'0fl0 ^ 1,6.31,000 111, 590,000 110, 322,000 T o t a l ..................................* .................................. ................ Investments: United States bonds ................................. ........... qqq 46,915*0C0 8*039 000 9,039,000 One-year United States Treasury notes ............ Munic ipal warrants .......................................... g1\ 3.37*QoO 23 .714,000 < Total earning assets ........................................................... 191*319 000 189,990,000 Federal reserve notes - H6t ....... ................................................ 16 080^000 19, 975,000 Due from Federal reserve t?.rJcs - Net ........................... .......... 29^266^000 28,937,000 All other resources ................................-....................... . g QOO 2.969.000 . TOTAL RESOURCES .................. ............................................... 6 ? /7 0 1 *0 0 0 627,742,000 L I A B I L I T I E S . w ■ > * l. * , Capital paid i n ......................... . ................................................ 0 55,423,000 55,^16,000 Government deposits.................. ............................................... . 39,947,000 40,199,000 Member bank deposits - Net ............................................ . 518,456,000 51^,3^3,000 Federal reserve notes - Net ................... ................................... 14,605,000 14,223,000 Fei^ral reserve bank notes in circulation .................... . 2,914,000 3*214,000 347.000 All other l i a b i l i t i e s ............. ................... qq^ TOTAL L IA B ILIT IE S...................... ......................................... $631,701,000 627,742,000 Gold reserve against net deposit and note liabilities (A ).* 69. 6$ 69. 9$ Cash reserve against net deposit and note liabilities ( A ) .. 71»0$ 71*4$ Cash reserve against net deposit liabilities affrer setting aside 40$ gold reserve against aggregate net liabilities j _on Federal reserve notejs in circulation (A) ..................................... 1 1 * 9 $ ______________ _ (£f LeiS items in transit between Federal Reserve banks, viz. $29,266*000 2 3, 537,-'00 June 23, 1916 265.643.000 106 .101.000 -373 638,000 1^.894^ 0 0 0 . * 14 .026.000 387.664.000 450,000 March 24, 1916 September .24,191! 229, 972,000 260, 866,000 59, 050,000 79,680,000 1 . 202,000 1,578.000. 290,224,000 342, 124,000 22.920,000 12. 223,000 313,144,000 354,347,000 m• ♦ * * * 200,000 603^ 201^000 32,669.000 133,403,000 24,849,000 12, 628,000 4,571.000 529,998,000 7,487,000 11,997,000 15, 561,000 8, 173,000 1,213.000 44,431,000 9, 328,000 . • « k• ♦ 24,945,000 78,704,000 14,866,000 7,409,000 ^ ^ U ^ O O Q :., 417,700,000 54.863.000 64.499.000 472. 613.000 9.228.000 1 ,723,000 .., . , , ,22 ^ 000, 003. 201.000 70 . 9$ 73*6$ 54, 910,000 35,088,000 4 ^ ,8 1 6 ,0 0 0 9 j 977*000 1, 053,000 . iS^O OO 529,998,000 74. 2$ 76 , 8$ . 54,748,000 15, 000,000 329,941,000 15,3^8,000 * a9k m■ +m 2^ 663^.0.00 417, 700,000 82.2$ 88 . 7$ 14. 451.000 12 , 91s,COO 31 680.000 25. 836.000 . 4.818.000 89.703.000 52.875.000 4.190.000 21.632.000 168.400.000 23. 013.000 19 . 287.000 4.387.000 19 , 287,000 7,855,000 10, 926,000 21, 106,000 18, 635,000 2.028,000 60, 550,000 40,184,000 ______11M _ _ _______ 91«0$_ 12,628,000 1 7,409,000 Released for publication Sunday corning September 24, 1916. Not earlier. 814 b , '7EEKLY STATEMENT OF RESOURCES AND LIABILITIES OF EACH OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 22, 1916 . (in thousands of dollars) Total Boston N. Y. Phila. Clevel. Richm. Atlanta Chicago St*Louis Minnls. Kas • Cy. Dallas S.Fran. R E S O U R C E S . 9,808 3,481 4,108 10,362 14,868 $7,567 159,844 Gold coin and certif. in vault 258,711 4,850 5,858 3,727 28,267 5,941 6,712 117,791 Gold Settlement Fund 2,870 21,631 2,258 15,815 9,&57 4,359 17,179 11,431 11,6 15 3,525 10,539 1,941 50 419 5 250 30 Gold Redemption Fund 123 244 200 87 .......7.. 89 437 378,443 26,388 8,286 14,770 50,098 8,259 6,841 Total Gold Reserve 9,41} 16,527 16,932 27,591 23,387 169,951 7,642 134 22 Legal ton'ler notes, silver,etc. 70 212 992 720 135 2,317 399 1,313 1,093 35.. 38b,085. 23,522 172,268 16,549 7,561 5 1,6 11 27,990 .27,380 17,002 9,625... Total reserve 14,805 8,393 9,379 500 100 400 27,706 6,736 914 385 Bills discounted - members 801 5,806 2,968 ' 1,560 756 1,875 1,751 159 3,995 1,411 •6o4. 6,645. v<S3 ,oS4 Bills botisht in open market 10>764 . 26,888 7,220 3,17-6 1,796 11,705 5,623 2,477 5,575 7 , 3.40 . 7,030 111,590 11,864 • 3,162 27 .802 11,565 7,976 Total bills on hand 7,602 6,472 8,543 7,183 5,051 2,634 2,896 2,825 Investments: U« S. bonds 6,304 1,074 1,508 8,^63 2,972 3,174 3,372 2,714 9,617 47,553 804 616 One-year U» S* Treas.notes 250 1,282 818 760 526 8,039 684 850 570 350 529 2,220 1,010 ...... 370 2,696 86 286 Municipal warrants 2,431 4,219 24,137 4,505 4,789 1,525 19,292 37,047 9,446 Total earning assets 17,938 17,736 8,792 22,075 11,992 9,783 13,765 10,765 12,688 191,3.12 1,700 16,080 1,390 Federal reserve notes - Net 9,718 1,561 859 507 345 2,403(a)29,266 2,026 4,403 7,064 Due from other F. R. banks - Net 3,144 1,534 8,847 721 752 2,381 1,519 858 181 122 8,451 -6l2_ 204 82 200 5,200 268 All 0 ther resources 749 195 330 631,701 TOTAL RESOURCES S L o i l 228,636 - J L 4 9 7 . 48,110 27,395 18,076 84,672 ...28,265 23,^07_7 ..3P.a6.8S.-- 20,83L_. 31/4.6 2 .. 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 Due to -other F, R. banks - Net All other liabilities TOTAL LIABILITIES 5,024 11,601 3,368 4,871 38,478 212,164 —— -— —— _ «- —— . 147 47,017 228,636 5,222 5,975 29,689 5,997 2,047 40,066 5,528 83 46,497 —— ME MO R A N D U M „ F* R. notes issued to the banks 10,392 78,869 7,652 9,718 F. R. notes in hands of banks 507 859 F« R* notes in circulation 7,145 9,533 69,151 7,652 Gold and lawful money with Agent 10,392 78,869 Carried to net assets 507 859 9,718 — —. Carried to net liabilities (a) Items in transit i. e , total 48,110 9,185 345 8,840 9,185 345 3,365 3,470 16,091 4,357 112 27,395 2,490 3,748 9,489 2,335 6,676 3,528 74,468 -- —— 14 18,076 84,672 2,794 3,523 20,878 1,570 2,598 1,072 19,407 -- 3,044 1,502 23,994 1,111 1,034 2,691 2,130 8,904 5,232 1,880 3,921 ^,713 24,828 -- 55,423 39,947 518,456 14,605 2,914 ~- — - - ........ 35.6 —— 28,765 ..21,P2I_.39j}685_... 20,-837 ..3I>J46.2... 631,701 -- 16,858 7,928 13,802 16,801 22,585 10,124 209,778 3,331 1,561 ... -_582_. _ 121.......1.JQQ.. 18,143 ....J +30 ..... 15§_ 1,220. 8,424 _ 121 , 63.5 7,498 12,241 16,212 22,412 1,941 16,700 5,928 13,802 15,101 17,180 10,124 193,110 14,365 3,331 — — -- -— 1,390 1,700 16,080 1,561 -~ 1 ,1 1 1 --. 1*570 . 14,605 ,4i35L .. 2 ^ 3 i _ 12,251 7.13.. 11,538 7,181 -amounts due from less total amounts due to other Federal reserve banks. Released for publication Sunday morning September 24, 1916. Not earlier STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER (in thousands of dollars) 22, 1916. Boston N. Y. $20,380 143, 4oo 15,480 15,160 20,000 26,4oo 9,380 12,600 21,000 22,620 32,600 13,880 352,900 5,468 39,971 ^,788 2,675 5,099 3,048 1,168 1,910 568 1,566 3,434 1,196 70,891 Chargeable to F. R.Agent 14,912 103,429 10,692 12,485 14,901 23,352 8,212 10,690 20,432 21,054 29,166 12,684 282,009 In hands of F. R. Agent ^520 24,560 3 , o 4o 3,300 2,650 6,494 U-,881 2,762 6,630 ^253 6,581 2,560 72,231 10,392 78,869 7,652 9,185 12,251 16,858 3,331 7,928 13,802 16,801 22,585 10,124 209,778 9,700 75,715 3,820 8,660 2,850 11,620 4,270 10,340 692 3 , 15^ 412 525 F e ’.eral Reserve Notes: Receive;', from the Comptroller Returned to the Comptroller Issued to F. R. "bank less amount returned to F. R. Agent for redemption Amounts held by F. R. Agent in reduction of liability on outstanding notes: On hand: Gold coin and certificates Credit balances: •In gold redemption fund Phila* Clevel. - - 3,420 ---- As security for outstanding notes: Commercial paper 10,392 Amount of commercial paper delivered to Federal Reserve Agent _ - S.Fran. Total • With Federal Reserve Board TOTAL Richm. Atlanta Chicago St#Louis Minnls - Kas. Cy * Dallas 78,869 7,652 9,185 4,560 131,535 481 1,255 251 368 832 731 1, 260 384 10,345 -6,700 8,550 3,080 2,710 1,350 10,100 5,580 9,7^0 51,230 5,070 2,493 2,000 ---- 1,700 5,405 12,251 16,858 16,801 22,585 5,5^6 2,763 1,907 5,765 — 3,331 7,928 2,000 13,802 — 10,124 16,668 209,778 17,981
@FedFRASER