The sun., 1916-12-31
ASSETS UP 1865 PC.
-NRESRYE BANKS
Large Increases for Year in
Cash Holdings, Investments
and Deposits.
GAIN. IN GOLD RESERVE
Acceptance Business Of the
' /, Whole System Shows a
Heavy Growth.


record Of the growth Of the Federal re-
serve system during 1915 is presented
In the weekly bank statement Of the
Federal Reserve Board made public as
at close Of business on December 90,
the last Friday Of the present year. The
increased strength Of the system is in
dicated chiefly BY the gains in cash hold.
ings. Investments and deposits.
Aggregate ash reserves Of the banks
increased during he year by Sl1s,Iss.-
000.. while combined gold reserves IT,
creased si0s.7So.ooo. The gold holdings
Of tho agents increased ss5.o73.ooo. or
over 80 per cent, and sand at prcscn.
at $?s3,o23,o0o. Total sold resources
Of the system increased from S54s,4i3,-
900 TO $685. 900, or over So per cent.
Larger gold holdings are reported al the
close Of h present year BY every bank
ana every agent except one.
New York reports 3s.< per cent. Of the
total gold u Of the system on
December 90, compared with 4S.9 per
cent. about a yea ago: Chicago. sd per
cent, against 1.5 per cent. I: Kansas City.
6.+ per cent. against a. per cent. /;
Cleveland and Dallas each SO per cent.
compared with SIS per cent. and as per
cent. m Philadelphia. SIS per cent.
against ~ per cent. Other banks hold
ing over ) per cont. Of the systems
gold arc Richmond. Boston and San
Francisco. All the banks except New
York show larger proportionatc in
creases in gold holdings than a year ago.
Large Gain IN Gold.
OF the banks total gold reserve a. the
close OF 1918. about 77.3 per cent was
held In the. banks vaults ard 22.T per
cent. at Washington In the gold rcdemp-
! ton and gold settlement funds. Last
Friday the proportions were 60 and IS
| per cen respectively.
Total earning assets OF the banks in
creased from $4,000, 900 to $2s2.1oo 900.
or about l66 per cent. Tho ratio OF
earning assets to paid in capital was
slightly over 100 per cent. at the end
Of 1915 and Is nearly 400 per cen M
present. This large gain Is due chiefly
to the growth Of the acceptance business
| during the year.
10th discounts and municipal war;
F: rants on and at the close Of the present
year. $50. 200. 900 and $50. 900. 200. are be-
low the corresponding figures of a year
l bRO. 1u6 amount O1 tu.ttu StateJ
bonds owned by the banks. $4,000, 900.
Is nearly three times as large as a year
ago. Tho figure Is exclusive of $II.s0o,-
600 OF one year Treasury notes issued
] to the banks in exchange for . per cent.
; bonds delivered TO the Treasury.
OF the total earning assets at the close
OF the present year 57.& per cent. IL rep
resented by acceptance, as against s7.s
PEI cent. at the end Of 1915 2+.a per cent,
. q a n ntr 4 q n nav nADe 1S., f~,{NNl C,atAe
securities. 1876 per rent. al against $50
per cent. by discounts, and Al per cent.
as against 1+.S per cent. by warrants.
Total paid IN capital Of the Federal Re-
serve banks increased from $5+.s15. 900
TO s5a.6s5.e0o. largely as the result Of ac-
cess.ons to membership OF newly organ
tied national banks and existing State in
stitukions and to q smaller extent owing
TO increase In capital and surplus of
member banks New York reports the
largest gain In capital. the last year hav-
ing witnessed tho transfer Of certain
connecticut banks from the Boston to the
Now York Federal Reserve district. also
the accession TO membership Of the Corr
Exchange Bank.
Government deposits. which AZ the end
OF 1915 werc $4,000. oo0, distributed
equally among the three Southern banks
have increased to $cs,s0o.ooo az the end
Of the present year. Tho largest amount
OF Government funds held by tho Federal
Reserve banks during the present year
4 Was -sil+,4o0. 900 on July Z.
Not bank discounts total at prescn.
I SsBs;s0c 900. or 4css;s0o. 900 in excess
OF corresponding figures on the last Fri
! day In 1915. The smaller relative IN
crease in bank deposits shown for the
New York and Chicago banks Is. OF
course. due to the large pr%eponderance
In these two districts OF the local city
banks. which were not required to make
additional transfers Of reserves during
the present year.
Reserve notes issued by tho agents
Increased In volumes from s2iA.126.0 900 to
S300,J1l 900. The proportion OF notes
covered by gold IL 81 per cent AT pres
emit, as aglins, % per cent. AZ
the close Of 1915. Accordingly the banks
aggregate liabilities upon notes issued
TO. them By the agents have changed but
little. being Sl4.lso,0oo at present. com
pared with 1l3.4sS,0o0 at the close OF
1915.
Report 81 the Twelve Banks.
Following Is the report Of the twelve
banks In the system (three ciphers
omitted):
otC -, Y -, ~ sV
1915. 1916. 1915.
Gold coin and erNh
Gates in vaults. ...... .e3s1,6ss 33Ss.s2I go. o.
Gold settlement fund. i10,4il 1881 ",:S
GOD redemption flnd
with Y. 8. Treasurer 1854 1919 I.I.I
Total gold reserve -. as, ,l3 <t9.9l7 ctt.ei.
IAgSl tender notes. ell,
rs ri 4 .:: ;z;;:::::::: H.. Ai::s .,s s:sis III, sais
Five per cent. redemp-
ton fund against
Federal reserve bank
notes ................ 60 400 -.
Bills discounted and bought:
Maturtties:
Within 10 daye....... co.2js e4,B SIS
From II to 30 days. <l.SIt 1881 I,2I
From o. to 60 days. %1.772 $3.50 1888
From 81 to 80 days. S,,ioj S,io9 B,CN
Over 80 days.......... 1,0<e 1,0et tMs
Total .....,.......... 1888 1850 5h,3s
Investments:
L.. s. bonds. ........,. <4..E 1854 ii,,3
One year u. 8. Treas.
IVY notes. ,,.....,.. ll,let ll.leI .
Municipal varrante... 500 1870. l-:S
! Total earning assets. s~:.0Sa .,c.i6s e3,5'
I Federal reserve notes, - -
net ....,...,........,,.. 2,oV N,too .l,ep