New-York tribune., 1876-04-25

snyenih Selgofl,'y Ward ....... 100000 $1,000 iS II
OF these banks, the First National now holds
specie amounting to Is per cent OF deposits
the Park has reduced its specie reserve by
$3.50. 600 but now holds about IA per cent;
the Republic has reduced its specie by $14O,-
600. bat still holds 16 per cent; the Leather
Manufacturers holds about II per cent in
specie; the Phenix about 20 per cent; the
Metropolitan about 10 per cent; the Third
National about the same, and the Seventh
Ward enough to bring its total reserve above
the legal requirement; while the German
American holds only SlS7,900 in specie, the
Mercantile only $131 600, the North American
only $4,000, the Peoples only $4O0, and
the Greenwich none. The five banks last
named hold reserves decidedly smaller than
the legal requirement.
The banks have not attained increased
strength in legal-tendcr reserves without a
considerable decrease in loans, amounting to
"a 515. 800 since last week, and to S,0O3,S 500
since April 8. contraction OF loans at TINS
season is not unusual, but the general mac
tivity in business is clearly indicated by the
fact that loans have not touched as low
figure since November. 1873. Since March ii,
when loans were $270, ,74S,4O the shrlnkage
has been $16,996,00O, but 1t was nearly rs
great last year, for the loans March q, 1879,
were 5000, ,5O5, 900, and shrank to S275,S $780,
600 by April "a. The tide then turned,
however, the lowest point reached being
So. 600. 900 above the figure now reported. In
1873 there was similar shrinkage, amount
ing to eleven millions from March 10 to
April 26, but the lowest point then reached
WAS S2G9, ,301 900. In 1874, ut this season,
there was no reduction i'll loans, the highest
average of the year being that reported
April IS. The position of the banks, and the
aggregate clearings last week, contrast thus
with returns of corresponding weeks in former
'''''' Apr % 20. Apr q. 10 Ap1 g. "a Ap12d 7'
Loan, q5s.75a4oo 275sseooo 2ss42s.5oo 2ees9l 900
SGlI3S9 goo L2S1So i2S!S9 5i7SS ga So6oo
Deposits 32G2,l 2l792GSOl 23iasG1o0 lss22og@o0 600
es4lnon ceangs 4iso550G s57sSSi eos5560
The improvement in the strength of the
banks is the more gratifying because the
Treasury statement of Saturday showed that
the withdrawal of bonds held for circulation
had continued large during the week. 1t Is
not as large, however, as comparison OF that
rcport with the one of April 10 would indi-
cate. The amount of bonds held on Saturday
last was S347, ,SO0,350, and at the close OF the
/
preceding week it was reported to be $780,
! 413.OOO, but over 81, 10000 of the difference
is due to incorrectness of former reports, and
the net withdrawal of bonds last week was
about S506,000. 1t is not surprising that
the volume of currency shrinks, for
comparison of clearings with those OF
former years shows that the amount of
money required for the greatly reduced
transactions of this year is comparatively
small Since Jan. /, period of fifteen
weeks, the aggregate clearings of the asso-
ciated banks in this city have been about
S6,566, 100000; last year during the same
period they were about 100000, a
decline of over thirteen per cent CORE
spending decrease in the volume of currency
in use would mean a contraction of about
ninety millions since last year. Though the
actual contraction has been considerable, it
has been by no means propOrtioned to the
reduction in volume of business, as represented
in Clearing house transactions.
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