The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-03-02
RESERVE RATIO
ON UPWARD
TREND
Federal Reserve Bank State.
ment Shows Rise for Week
From 1873 to 1872.
By HARRY GUSACK.

A further increase In the ratio OF
the Federal Reserve Board 10 SHOWN
by the weekly statement If the board
issued today at the close OF business
On February %
Net liquidation Of $32.20o.Ooo Of
discounted bills more than offset in
creases OF $26, 800 900 in purchased
acceptances, and Of $9,1O0,0OO In
United States securities held by the
reserve banks, the re~1rt shows.
As against increases Of $50 ,2OO.OOO
I'm discounted bills held by the New
York reserve bank and OF $66,7OU,OUO
held by the three Eastern reserve
banks and Cleveland combined, Chi
cago shows an increase OF ABOUT
$14, 900 900, San Francisco an IN
crease OF SC, 900, 200, and st. Louis an
Increase Of about $5,000,OO0.
Deposit liabilities show reduction
for the week Of $13, SOC. 900, and Fed
eraf reserve note circulation q like
decrease of SIS, 900, 900. Total cash
reserves declined by about $4,000 900,
while the reserve ratio, because or
the reduction in both deposit and
note liabilities, shows rise for the
week from 1873 to 1872 per cent.
Gold reserves decreased by
$2,40O 900. Substantial increases in
gold reserves are shown for the
New York bank, which reported an
increase OF $26,1O0, 900; for Cleve-
land with an increase Of SO, 100 900,
for Philadelphia with an increase
OF 81, 400, 900, and for Boston with
an increase Of about $4,000, 600. The
largest decreases for the. week. by
$29, 500, 900 and $13,000,000, respec-
lively. are shown for the Chicago
and San Francisco Reserve banks.
Secured by o. 8. Paper.
Holdings Of paper secured by
Government obligations decreased
during the week from 1858 zoe, 600
to 1856 ,O0O, 0O0.@ OF the total held
OF February %, 1857 sol. 900, or ~
per cent, were secured by United
States bonds: $2,200,000, or 0.6 per
cent, by Victory notes; $17S, 100 900,
or 50.2 per cent, by Treasury notes,
and 1900 900, or % per cent. by
Treasury certificates. compared with
$1z2, 800, 900, $500 900, SIT, 100000
and SIS pot, 900 reported the week
before.
PLAN for 1898 Convention.
Plans are being projected for the
1928 convention OF the District
Of Columbia Bankers' Association.
Joshua Evans, Jr., president, has
appointed Howard Moran, vice
president of the American Security
and Trust Company, general chair
man Of the convention committee.
It Is expected the meeting win be
held around June It,. F. g. Add
SON, jr., who was chairman Of the
transportation committee last year,
Is gathering data On available quar-
tiers.
Capital Traction Earnings.
Net income OF the Capital Trac-
ton Company for January amounted
to- $500, according to the regu-
lar monthly statement of earnings
and expenses filed yesterday with
the Public Utilities Commission.
This represents a gain of approx
niately ISL ,000 over the December
figure, but a loss Of about $4S 900
as compared with January, 1922.
Total receipts for the month were
$402 1913, while total expenses
amounted to $685. OBJ. During
December, the company charged
more than $4,000 to expenses on
account Of retired plant equipment,
which brought the net income to
the lowest figure for the year.
The low net in January is at
fributable in part to reduced traf-
fic In that month the company
carried 5,731, 6S6 revenue passengers
at an average rate OF fare OF
e.s76 cents, while in January, 1922,
it carried 5,S45,543 revenue pas.
sengers at an average rate Of
7.1S3 cents. Revenue passengers
in December, 1922, numbered g.