New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Earning Assets
Of Reserve Banks
Below 3 Millions
Under Mark First Time in
Year; Discounted and
Purchased Bills Show
1891 Millions Reduction

FROM The Tribune's Washington Bureau
WASHINGTON, Jan. 15-Aggregate
reductions of 1891 millions in the hold
lngs of discounted and purchased bills,
accompanied by declines of 1lO.5 mil
lions in Federal Reserve note circula-
ton and 39.1 millions in net deposits
are indicated in the Federal Reserve
Boards weekly bank statement, issued as
at the close of business yesterday. The
Reserve banks report also a gain of
81 millions in gold and of lit millions
in total cash reserves. Their reserve
ratio shows further rise from AGA to
4S.1 per cent.
Reserve bank holdings of paper Sc
cured by government obligations show
reduction for the week of 1913 mil
hons, other discounted paper on hand
declined by 77.9 millions, while hold
lngs of purchased acceptances, because
OF the increased demand for this class
of paper in the open market, fell OF
31.3 millions. Ar increase of about
s2S, 900 600 in the amount Of Treasury
certificates reflects the amount of spe-
cial certificates taken by the Reserve
banks of New York, Philadelphia,
Richmond and Chicago, to cover tenn
porary advances to the government
Total earning assets TO. the first time
since January 8, 1920, fell below mil
lions, the amount held on January la
being 1865 millions, a decrease Of
1915 millions for the week and OF
1884 millions from the peak figure
shown on October Is of last year.
Paper Secured by Bonds
Of the total holdings of 1,o24.e of
paper secured by United States govern
ment obligations, 1898 millions, or 5S.5
per cent, were secured by bonds; 1855
millions, or % per cent, by Victory
notes, and 1881 millions, or 1875 per
cent by Treasury certificates, compared
with 5S.7, 1872 end 1871 per cent of a
corresponding total of 1,104.5 millions
shown the week before.
Discounted bills held by the Boston,
Philadelphia and Cleveland banks are
shown, inclusive of " millions of bills
discounted for FIVE Reserve banks in
the South and Middle West compared
with 965 millions shown the week be-
fore, while the total of purchased bills
held by the San Francisco bal.k is in
ances purchased from the New York
lions reported on the previous Friday.
U. S. Deposits Decrease
Government deposits are shown 1876
millions less and members reserve de-
posits about 80 millions less than the
week before, while other deposits, COM
posed largely of cashiers checks and
members clearing accounts, show
an increase for the week of 1.6 mil
lions On the other hand, the float
carried by the Reserve banks and
treated as deduction from Immediate
ly available deposits, is shown 14.9 mil
lions less than the week before AS q
result, calculated net deposits show a
decrease for the week of 39.1 millions
Federal Reserve note circulation
shows reduction for the week of
110.5 millions, compared with reduc-
ton of 64.5 millions during the CORE
spending week in 1920. Since Decem-
Der 23 of the past year, there has been
reduction in Federal Reserve note
circulation of 245.4 millions, compared
with reduction of 207.S millions dur
ing the three weeks following Christ
mas of 1910