New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-10
BANKS HAVEA SURPLUS NOW
"A GAIN OF si.5oO.OoO IN CASH SHOWN
in TIE WEEKLY STATEMENT.
THE STOCK MARKET OPENS BroYANT, BUT RE
ACTS-AN UNFAVORABLE GOVERN
MFNT CROP REPORT.

The weekly bank statement yesterday showed
that the banks had increased their reserve apoVe
the legal requirements OF % per cent lot the
first time since July /. the date or the last sur
plus. The figures were fully up to the expeca
tons OF the more conservative element vi wa"
Street, although the gain In cash feE pe'o" col"
mon expectations which had looked FOR an IN
crease Of 100000 to s5G0.0oo From the previous
week there was an increase Of s2,4oo.fW IN the
holdings OF specie and Of s20779O0 In legal tenders
a total gain in legal money of Ai'SSoo Inc 'hc'e"'"
I'm reserve was A,j33.0OO. and the surplus Ieseise
Is $2.eG6S15. against surplus VI '',o.'S"
at the CORRESPONDING date Of 1899, and OF %''2Z-
72j In 1891. The loans were reduced N'-W'rv' an"
the deDosits fell off s222 400. The decline In de-
posits was an unfavorable and ineXplicaoie lea-
ture OF the statement. According To the o'"ei
Items the deposits should have increase" 'oo"'
81 10000 so that the discrepancy In the hgurfs
given is N5o.o. The loans are now about S23,-
Oon0 in excess Of the deposits. The loans amount
TO 1896 e69 200 against sis2.l2O at the same date
n year ago and SiOl. $1,000 In 1891 The deposits
amount to 1878 1sL7O0 compared with SVo'i-'''" IN
1882, and si03, 96j 800 In 1891 There was an III
crease in circulation In the week Of N.2si@o ana
the amount stands at SlH'W' dsa''''
s. jj3, 100 In 1892 and $4,000 in 1Sl
There were general expressions Of qualification
at the restoration OF the surplus reserve among the
banks The statement was made on rising aver
ages and the banks probably stronger In cash
RESOURCES than the Averages show. wall Street
looks for a further easing in the money markets
az a consequence of the stronger position Oh 'he
banks and II currency continues to now 10 'he
CITY al It's recent rate. 1t IL believed that there
Will be large cancellations of Clearing House loan
certificates this week The total amount OF 'hese
certificates issued by all the principal cities OF the
country is conscrvatively estimated at ABOUT
So O0oOOo There must be large retirement Vi
these Issues before the money markets can return
to an entirely normal condition.
The Government crop report for September was
awaited with Interest by Wall street. but IL was
not received unit. after the close OF ousness inv
report war extremely unfavorable. ana the gram
markets were strong in anticipation OF It's char-
actor The effect Of IN. long drouth Is shown III
= reduction OF the average condition OF corn 10
~ p.r cent on September |. against 81 on August
I % . on July l. and 1a6 per cent on september l.
lsee The average condition Of wheat Is p'aoeu d.
Il per cent september l. against 3D. per ''''
In Is92 The average condition Of oats Is given az
7ig per cent on September |. comparel VIII" 90
rer cent on August l. and $50 per cent on Septem-
L.r lS,2 Since the date to which the IoNerhihe"'
estimates are compiled further severe INJURY mas
been reported 10 the crops from drouth.
wall streets mood was buoyant and happy
,ro MIR, Of the short session at the Stock FIX
change The industrials were especially S"o"s
American Sugar Refining rising to Vs. anu '"i0"so
cas- ouening at Gis. "A gain OF per cent But when
the hank statement was published there were free
realizing sales and the market decIihen fapu'!'
Sugar stock fell from 80 TO 9l.n's against u fil
a.. r,yh, and Chicago Gas declined from C4s. to
COZ. acol against cgl General Electric declined
from a.. TO ,5T.q6. In many Of the leading STOCKS
there were reactions Of i2fl per cent Dut III 'he
majority Of cases the late concessions were not
s,,fcicnt to wipe out the early advances. ROCK
Island and Chicago. burlington ana quincy coso''
lower as a bearish exhibit on corn was looked ior
n m. Government crop report to BE- published later
COMPARED with "A week ago, the stock market
shows net advances OF 2rj per cent In the III
dustrial shares and lg3 per cent In the railway
list The following table gives the closing prices
of the last two Saturdays compared with the ex-
IRENE low prices OF the year Tor the STOCKS
named: ci.-,,..