New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-09
BANKS LOSE CASH HEAVILY.
AN UNAVOIDABLE WEEKLY STATEMENT
THE CHANGE IN THE VOLUME OF CLEARING
HOUSE CERTIFICATES-DULLs STOCK sPECU-

THE CHANGE IN THE VOLUME OF CLEARING
HOUSE cERTIFIcATEs-DULLs STOCK sPEcU-
L,T1oN. But BROKERS FEEL BETTER.
The relief which the financial situation experienced
last week was reflected I'm the extreme quiet Of down
down affairs Yesterday. and the absence Of large num-
bers Of bankers and brokers from the city. Although
q week ar, the severe strain had been relaxed, owing
10 the free Issue Of Clearing House loan certificates
there was = feeling Of intense anxiety which Kept
business men AT their desks. Yesterday the exodus
from general and early, indicating that men
felt able to leave their business with considerable
freedom from anxiety. There has been no general
return Of confidence II is truc but the sentiment II
Wall street has improved somewhat, and II Is hoped
that no new complications may occur TO revive dis
trust.
The stock market va, a purely traders affair. with
no significance. 10 the narrow fluctuations The banks
neither cancelled not retired loan certificates The
Clearing House Committee had expressed the hope
that no cali, would be- made for certificates except
whore necessities pressing. and the day passed
without any demand The more conservative bankers
Ar. okug for further issue OF certificates this week.
but II l. moi expected that there will be- a. great
demand a. has been already felt. There Ia reported
"A further disposition among the saving, banks TO
turn part NJ their fund, 10 the banks OF discount but
The movement +, not expected be- remarkable unless
this month passes without the development Of fresh
Will pursue a policy 81 extreme prudence for awhile
.ngcr (, The fact that deposits may not be WITHDRAWN
with the interest up 10 July until july ID or Later
The next week or day, will probably develop the
fact whether depositors will make any unusual WIKI
drawal, and II they do not IT Is believed that large
sum IL currency viii be restored 10 the VIuIIa'l
channel, 4 business.
The weekly statement OF the averages Of the as
,oca I'd banks was "a disappointment 10 Wall street.
Tic baIhs report an Increase In loans OF S3O31oJO
a gain Of only 37OO2Oo IN deposits. ana decrease
in reserve or legal money Of tGlj-'OO The loss III
cash was made up by lors OF Sl.2-l,"OD III Sp"cl"
and Of -I-74lUO in legal tenders. The decrease
in ,pcci. results largely from th" TACT that the banks
have been compelled pay gold At the sub treasury
i'm order o. obtain currency The los, In legal ten
der, represents July disbursements and som" move
mcui OF fund, ont Of town. part Of me d'cih"
i, supposed to be due 10 correction of errors IN
the statement 81 the previous week. IN which some
Of the laph, by a misunderstanding. counted their
Clearing House certificates legal tenders. Bnt
even allowing for this correction Of errors, th" loss
IN cash 10y tie bank. considerably in excess OF
estimate that had ba~od on sub Treasury "p IA
lions and tie Interior movement of money 50 far a.
IL could be irnced. The total amount Of loans Is
saoOOO. 600 IN excess Of the deposits. There /,
naw deficit under the % per cent reserve required
by law o, SJ,O.2.O2j against surplus reserve of
sI3.j77 O.3 ~ the corresponding dat" Of 1892. and
of sla.ji.o25 IN is0l.
The money market on Saturdays /, always nominal
AZ the stock Exchange. but the character OF the bank
statement prccludcs the idea Of any "uy return 81
case 10 tie money market. call loaI may rule
around Go- per cent. bat condition, too unccr
tain 10 warrant bankers In predicting tina, these viii
b. maximum rates. Low rates viii lead 10 a can
collation. ~ Clearing House certificate. hui tat
mo,.m,uf. iu IFS turn. by reducing bank a'commo.
dailor, sill have tendency To sbn"n m" market
again limo money /, almost impIs.lb" Q" obtain,
and commercial paper, while mpViHg ono" more
Sill suffers O. discount Of lua - per cent on even
the best Of names.
The A--ly ono. yesterday received about 500
O,O IN gold principally In bars. FOR mining his
represents principals tnr lot % @-@j,o0p In gold re
c,iv,,i ~ Ills port on Tho German steamer Augusta
Victoria Friday.
T.. MONETARY conditions have RENDERED stock sP'c
ulatl0n almost sincLani. and IN spit" Of the rallies
near fA" close 81 the week prices NV generally lower
finu they week TIL" following tah"
conpares fle final quotation, yesterday with those
81 f'ir saturday previous Tor o." principal issues,