The Washington times., 1925-02-06
PRESERVE BANK
ASSETS SHOW
INCREASE
Gain Of $4s, voc, 900 Report
ed for Week Ending
February a
By HARRY GUsACK.

FEBRUARY
By HARRY GUSACK.
A gain of $43, ZOO, 900 in reserve
assets is shown in the consolidated
statement Of the condition Of Fed.
eral Reserve. Banks on February
I, made public today by the Fed
Nrai Reserve Board.
The report shows an increase of
$46. 700. 900 in holdings Of discounted
Bills and Of $1,000 900 in holdings Of
acceptances purchased in open
market, and a reduction OF 5000
900 in Government security hold
'3ngs. S
- AS a result Of these changes, to-
tai earning assets went up $4S,700.-
600 to 81 ,032 800, 900. the first in
crease reported this year while
cash reserves declined $1S,Q00,000
and non-reserve cash $1I. 100000.
An increase Of $4S.700;000 IN dis
count holdings is reported by the
New York Reserve Bank, and in
creases of S4,100, 600 and $500, 900,
respectively, by Philadelphia and
Cleveland. The Boston bank shows
q decline in discount holdings OF
$4,000 and Atlanta a decline Of
IL 300 900, the seven remaining
banks showing smaller changes in
this item for the week.
Acceptance holdings Of the Fed
eral Reserve Bank Of Boston were
1900 900 less than q week ago.
while those OF San Francisco and
Philadelphia banks were 81 500 600
and s.. 100000, respectively, above
the previous weeks level. All Fed
era1 Reserve banks report smaller
holdings OF United states Govern.
ment securities, The systems hold
ings Of Treasury notes went down
-. 400, 600 and OF United States
bonds 5000 900, while holdings of
Treasury certificates increased ST.
500, 900.
The principal changes in Federal
Reserve note circulation were M
ereases OF $S,300,O00 and $500, 000
reported by the New York and
Boston Reserve banks, respectiyeIv.
snd reductions OF Sc. 900, 900 and So
~ 600. respectively, shown for
cleveland and Chicago. 49,
The Banquet Committees.
Two more committees have been
announced in connection with the
February 81 banquet Of the local
chapter. American Institute Of
Banking. They are: Menu, with
Eliot II. Thomson, chairman, and
the seating c0mn1itte with +. II.
COX, chairman; Robert u. Hinfi-
field, James A. Soper, W5liianH q.
Rinstead
g Advertising FOL, Banltk
Harry V. Haynes president Of
the Farmers ana Mechanics 11atfoii-
al Bank, and chairman of the Bro
tective COMMITTEES Of the Dl49adt
q plan worked out by the commit
tee which affects the advertising
policy Of member banks. III
Among the suggestions made in
the report OF the committee is the
1lmitif1g OF bank advertising to me-
Aiuns approved by the association
and listed by it.
Reports Record Year,
The Mutual Life Insurance Com
mny Of New York, Americas oldest
legal reserve life insurance com
pany, which completed its eighty
second year on February first. re-
ports the year 1924 az the greatest
year 50 Tar in its history During
1924 the company placed new in
Burance amounting to $44S,967, S5e,
and on December 81, 1924, its insur-
anee in force was $3,00S,991,61
IL Payments to policyholders in. 1924
were $1l2, T6o, 1916, and receipts from
peIicyholders were $113.9S7, 1856. An
nuaIly for a term Of more than ten
years the company has paid to and
accumulated for policyholders and
beneficiaries more than 1t has re-
eeived In the year from policyhold-
ers. The amount paid to policy
holders in 1924 is smaller than the
corresponding amount paid in 1923,
but this discrepancy is accounted for
by the fact that in 1923 there was
paid on account Of a transfer of
foreign business much larger sum
than paid in 1924 In connection with
such transfer
Among the payments to policy
holders were $32, 252,24 in death
claims. SIC, gel, 1877 in endowments,
s2.426,74S in annuities. and $751;
e27.795 in dividends. All dividend !
we're paid to policyholders. The
company has been mutual from its
beginning and has never had stock
holders.
In 1924 the company's mortality
was low. This favorable experience
brings saving which contributes
IA the RETURNS made Tn n0lfcvhOtders