New-York tribune., 1921-03-06
Reserve Banks
Position Best in
More Than Year

The reserve position Of the twelve
Federal reserve banks at the close o.
business March was the highest IL
more than year. The statement o
their condition, made public yesterday
showed ratio of total reserves to net
deposit and Federal reserve noto liabili-
ties combined Of 50.S per cent, COM
pared with seq per cent on February
lS, which was tho previous high per-
centagc for more than twelve months
The ratio of the twelve banks gold
reserves to Federal reserve notes in
circulation, after setting aside So per
cent against net deposit liabilities a.
the close of business Friday, was 59.s
per cent, contrasted with 5S.l per cent
the week before.
improvement in the reserve posi-
ton was brought about largely bv
REDUCTION OF approximately 500 900 zoe
IN leans TO member banks and an in
crease of S18,760,O0O in gold reserves
Gold and gold certificates amounted
TO S234, 1858, 900, contrasted with sol7,-
33o,0OO the week preceding. The gold
settlement fund lost S3605 900 TO
S526,499 900, while the gold redemption
@
900. Gold with Federal Reserve agents
at the end of the week totaled 81 ,236,-
500, 900, an increase of S2,379 600. Legal
tender, notes, silver. etc, declined TO
S2l2 ,673, 900, from S216,686 900 for the
week ended February %.
Total bills discounted at the end of
the week stood at So sos. .509 900. fall
ing OFF Of $6l, 900 Loans secured
by United States government obligs-
tlons declined from 81 1.003 ,975 geo to
s98l .S40, 600. commercial parer from
$l392, ,279, 900 to sl,359 665 goo, and
bankers acceptances from Sl7O.503 900
10 1854 ,0O4 900.
During the week holdings of United
States certificates Of Indebtedness were
reduced to s257 693 900 from 1921 BIO
600 shown on February 25 The de-
crease IN total earning assets amounted
70 1854 966 900. OF cr ch4lgcs in
cluded a drop of S17,52s 600 in the
amount due TO member reserve banks.
Like The statement for the entirS
system, the New York Federal Resery'
Bank also showed al Improvement j.
its reserve position for the weeS enie =
March q. The ratio OF reserves 70
combined deposit and Federal ReseNa
note liabilities was 42.2 per cent. CON
pared with 40.5 per cent for The pre-
~NUA-iS NOtA. nc ldtlD ti W' -FA1 e
net deposits. after deducting 20 pc
cent gold reserves against Federal R,-
serve notes in circu alton, showed
even greater improvement, atsancinS
to IS per cent. compared wl.n II pa
cent the week before
Total bills on hand At tine ord
the week. amounting TO $S93.5S9.ss. j.
represented a decrease OF S2s .VvV.
Gold reserves increased from $4ls,lo''-
900 to S444. 1853, l59 The chief increase
IN the gold item was in gold and go'''
certificates, the total on March stans'
ing at S148 996 ,526, an increase Of more
than $l8,000,000. Loans secured by
government war obligations declined
S20,000,000, loans on commercial paper
more than $4,000, 900. while purchases
of bankers acceptances increased mofe
than $4,000 900.
The New York Clearing House bank
IN their weekly statement giving condi-
ton as of tho close OF business ye-
terday showed contraction OF sl.-
$4,000 in loans and discounts, thc
total standing at S4,9So. .S52, 900. Nes
demand deposits of the bank Increases
during the week sci AIS, 900, the totaA
amounting to S3,796,O ,Oi50o0. Reserves
in excess of legal requirements de
creased $10,357, $3.50 TO sS,eS3,65o. ~
the end of the week United States gos-
ernment deposits amounted to seO.--