Show MORE THAN BILLION Fit IN RESOURCES OENA OF OE NA NATIONALS Cash Holdings Show Decrease Decrease Decrease De De- De- De crease Owing to Purchases of Government Bonds Complete te returns of tho national banks under the comptroller of tho the currency's call for tor their condition on March I 4 t 1915 were published a t few days dars ago by that official ai Jhc ri figures res being compared with the tho reports of or December 31 11 1917 and March C li 5 1917 re respectively The statement statement state state- ment shows tho the following totals of or the Important items Hems on tho date of or the tho re report report re- re port now at hand omitted Loans and discounts United States bonds including certificates of or indebtedness Cash in vault Demand deposits tG Time deposits United States deposits The principal changes hanges from the figures submitted by the banks three months and a year ear previous aro arc as follows omitted Loans and 5 U. U S. S bonds bonds' Other bonds Duo from banks etc 1733 Cash 2407 Rese with F. F It R. Surplus and profits proms HOUr HOU Circulation 2093 r Total deposits I Including certificates of or debt and nd Liberty Liberty Lib Lib- erty loan Tho The loans cash and deposits of or the national na na- donal banks it will Ill be observed all de decreased decreased de- de creased d between December 31 1917 and March 4 1918 1915 whereas in comparing these items on tho last named date dato with the tho figures of ot March 5 5 1917 both the loans Joans and tho total deposits Increased th the latter atter item In particular being 1 greater than it was a a. year ear before beCore The fact that the cash holdings s decreased by in th the first three months of ot InS 1918 and by in comparison comparison com corn parison with Ith tho year before may be explained explained ex ex- by the tho expansion in tho the amount of United States bonds including certificates certificates certificates of or indebtedness and Liberty loan issues held by the banks s These latter Increases amounting to since December 31 last and to H- H in tho the year Indicate the extent ex extent ex- ex tent to which the national banks were affected by the financial l operations of the treasury In connection n with the war The returns give no indication n as to the relative size of the Liberty Joan loan and I United States certificates of or indebtedness respectively but Include them all under one total of It bein being however however how how- ever ver a a. fair presumption that th the certificates certificates certificates constitute the major portion of or orthe the item Hem According to the returns the lawful reserves of national banks held by the federal reserve reser banks aggregated on March 4 last which was a decrease of from rom the December December Decem Decem- ber her figures and less than in t. t March last year ear It H will be bo noted that the national Institutions show a decrease in itt tho the three months' months period of or in holdings of or bonds other than those of or the government while in the year ear prior to March 4 there thero was an increase of or in such securities Included in the tho banks banks' assets Tho The reduction of their investments o of this cla claSs cIMs s between December 31 and March 4 would in fact foot suggest that miscellaneous bonds were sold old on a. a considerable scale in order to provide funds for or participating in the government borrowings s. |