New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-16
BANKS LOSE A LITTLE CAST
A DISAPPOINTING WEEKLY STATEMENT OF
AVERAGES.
IGNORANCE OF BANKERS OF THE REPORTED
GOLD GACEMENTs IN LoNDoN-TIE
STOCK MARKET OPENS HIGHER.
But LOSES MORE THAN THE


EARLY ADVANCE.
The weekly statement OF the averages Of thc US
ISOLATED banks published yesterday. was decided
dorn,irtm.ut IN Wall Street. MI the fav0rb'- "N-
pcctations were disappointed. and although there wa
a small cain I'm tho reserve there was a decrease IN
cash. THE Commercial and Financial Chr'hI'''
had estimated a net gain to ia" banks from '' >""
Treasury operations and the Interior movement u
over $500 900. and this estimate was much less 'h'
the majority Of popular calculation. IN" imports o'
gold and the supposed return Of money To the as
count banks from the savings institutions ana trust
companies IL was believed would incicas" The cash
resources Of the bank, two three millions Yes
fcrday's exhibit however reflected an average Is III
legal tenders Of $4,000 and 4 gain III specie "I
$3.50 200 net decrease In reserve OF f'I31lo' Inc
dep sits were reduced Si50j3Oo, so that N reason Of
the reduced requirements for Ie>crvc the deficit be-
low the legal requirements WAS lcs-cncd s7i2'"2o.
The loans OF the banks stll exceed I'll" deposits by
80 s25. 800 The banks hold in legal money T'42'4-
400 against S15l liz 400 at the same date In lc'2
and 81 10 Gg2 100 In 1871. Their, /, deficiency In
the legal reserve Of - .260,lo compared with 4
surplus of $40, 2O7 40 In 1792 and ST. i-9G'5 In
1901
The bank statement not much u a surprise 10
conservative bankers who have not been ready 10
subscribe to Ill the hopeful expressions Of their
optimistic brethren 1t Indicate that the currency
demands from Chicago and Philadelphia were heavier
than had generally been supp sod. and offset the
receipts OF currency secured through t" payment OF
premiums The statement also bear, out tn" A.
serti)ns OF many officers OF ,avine, banks that those
institutions not luckng up large sums Of money,
which would be- released upon return Of confidence.
II Is to be regretted. however, rt there !, Mt a
larger movement Of currency f. TIL, city, to New
York banks have only few weeks in which Ia
strengthen their position to meet The ordinary T.
mands for moving the CT ps I'm the autumn. Tia"
sub treasury Is SIN paying ont gold In Or"r to pr
tcct its holdings Of until h" >ri,onablc Dc"
mand for small bills begins Yesterday IT, doM
balance AT the Clearing House more than 500.
600 Of which 100000 WIS paid in gid. Otherwise
the money movements at Tho sub Treasury wer' IN
important. tn" Clearing House Loan tonmiti""
neither issued cancelled any loan certificates.
Private advice, confirmed the report Of Friday that
clGO 900 gold had been secured in London Tor ship
to America. Nevertheless. all hnowc H., 81 this
shipment WAS denied Yesterday hy the nrms thai would
be- most likely 10 Import the metal namely. l4zard
Fc.c.. l.. Holman ~ co.. IIrflclbach. lck"h"mcr
a co.. Dr.Ne Morgan 4 o.. August belmont 81 Co..
Earring. Magoun 4 CO.. I@idcnpurr. Thalmann 4 co..
aud The British Bank Of North America The ad-
yanc. ia the price Of gold bar IN The open Loulon
maraet will require further decline in ,i"riug cN
change 10 permit important Import, Of gold at New
York. 1h" "Nciiang" market WAS duh yesterday
and STEADY at unchanged quotations.
The bull," IN The stool, market Yesterday held con
troll Of price, FOL short time. The bear coninurd
TO ana value, advanced above Friday close,
at the suopy Of stock, sufficient 10 check the Ill,
position to cover short contracts. aud before the end
of the short Session the " bear" Aggression
nrw.d 4 few stocks, like Erie. Louisville aud Nash
Vile. AtchisOn. Laokawaniia. New York ami New
England and Pacific Mail closed 4 shade better but
the mere active Issue, suffered material declines
Chicago. Milwaukee aud II. Paul sold mp per cent
TO ~ -. but then fell to 80 l-4odO BE-. Chicago
burlington aud Quincy de, lined from "a [, II > 81
II 30 Rock Island from go II 10 6,a - Chicago
ana Northwestern from i0l ii 10 % J--o 100: Lake
horr from lis Ia TO III Is. New York Central
from IOl 10 100. and Wc,t'n lniol Telegraph fr,<I
20 "a TO - "a. In the individual li-I American
sugar Refining drOppri from - to - IL chicago
fell from "a "a 10 ~ j-c o.. II. and General
Electric declined from 10 I 10 ~ > Ia 80 Ia The
bears helped Yesterday by tn, announcement
OF the big bank failure AT Kansas CITY, which wa, fol
lowed BY runs other institutions In that city, the
embarrassment Of the great Schr,ingcr iron ore
syndicate. and the unfavOrablr bank statement.
In spite Oi III" sharp rally In the middle. Of the
wcrk. stock, generally show important net LOSES,
Inc closing prices al Yesterday, compared with tho,s
OF last week, are given in the following table