New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-03
cash BAL. si3oOt.5ll s39 09i 252 Dec. 80 9lS p
BANK CONDITIONS COMPARED.

Set cash BAL. sisoot5iI s39 Ooi 252 Dec 1913 259
BANK CONDITIONS COMPARED.
By the operations OF the New-York Sub-Treas-
ury IN the week ended Friday night the associated
banks gained S3l3,3Cs. The Clearing House was
compelled 10 send ont two statements Yesterday,
, and both were mysterious exhibits The hr,t
showed decrease in loans Of 81 100. and with
an ayria-" loss IN cash Of Si2j. 900 the decrease
IN deposits should have been over S3,23O.OOo,
while II was reported 10 be only $4,000. The
corrected statement gave an increase in loans OF
,o64 300, and I'll" other items were unchanged
of nearly S3.j00,000. In the first instance
there was an apparent discrepancy OF about
$3.50 0ou. and by the corrected statement one
OF over -. 10000 IN the opp slt" direction. II
must be inferred that some of tie banks counted
their Clearing ll0u~, certificates a. legal tender
notes Gu this hypothesis. the loss in cash would
have been al least S3.0000O0 larger. and the
s'atemcut fairly consistent A. II is. the actual
condition Of the banks must be much poorer than
III" showing The result of all the changes was
further loss in the surplus reserve of S4.230250.
The banks hold in excess Of legal require
mcnts only Sl,2jl,125. AGAINST Sls.0s6.600 in
the corresponding week year ago. and Sl5.i65.-
90 in the same week in the preceding year.
tn" chances in the corresponding week in the
three preceding yrals were follows 1902 !
Loans decreased. S766,N00; cash decreased. So |
$4,000; deposits decreased. $3.50 200. and sur
plus rc>,ry" decreased Sl.1Sj,ijO. ls9l-Loans |
incre,>c 81 $780, 500 cash decrea sod =? 300. 500:
deposits increased $? 300 and surplus reserve
= 80. 300: cash decreased. S6O2? deposits in
creased S,.';',d0o, and surplus reserve decreased,
: ;! ,96.60n.
Suhioincd is Saturdays statement. compared
July 3. 81: July ., 30. july !: 90.
Loon' sS 800 s % "a 200 900 sl$ $50 AGO. ao9
i: +C ac,s go S59 '' 5s.s 20 So siSS
The following shows the relations between the
total reserve and the total deposits at the re-
,p"ctlVc dates:
...~ jc5oiioo coio2ioO $50 200
Reserve ...:iio' 2',soo sI5I7gs7OO 500 7io. 800
S.oa.t G'p.i'' loi,ros7aa ,sso5elOo oo.os775
,s an .a;,s. s''c's5s s'sos@sSsq? sl2'i S.
The bank exchanges Of the New-York Clearing
louise and the STOCKS sold at the New York Stock
Exchange last week and for the week Of the
preceding two years compare rs follows:
:>nn.. '?y g 5a'F e q .5 5HjE ioI G'
THE MONETARY SITUATION. a
The money market was disturbed by prepa-
atious tor the payment of July dividends and
interest. There was hardly day In the week
hen rates for call loans at the Stock Exchange
d not advanc" beyond - per cent. The eX-
RENE range was from per cent TO a premium
3-l6, in addition 10 legni interest. This Is the
Iuvalcnt Of about II per cent year. The high | T.
= rate mad" early on Thursday when the u
'n~ion became severe that five prominent banks q
n the general good, took out about -, OOO 600 G.
l"arlng HOUSE loan certificates. and nmedi- G.
'ely put the money INTO the Stock Exchange :,
arIet The result Of this action was an immNli- ~
/" decline In rates 10 Per cent. On the follow q
X day the money market remained fcVerslI, al
loueh further certificates, issued and after CT
newals at from ; 10 % per cent and new loans e
low 2s per emit, the price of money again
lNanccd IN the last hour 10 4Oa5O pee cent CT
should be observed, however. that on account g
the approaching holiday, many loans wer. ey- y,
nded beyond the usual limit until Wednesday.
lc amount of loan certificates iSsued by the Gil
caring House is now Sls,sO0. 00O and the con- "a
sion among associated banks natural, perhaps to %
" first week of the experiment, was proved by Dc
T. necessity of publishing corrected bank DE-
element yesterday. The second was no less D.
tNtcrouS than the tr,t, and there is not a +
lNonahe doubt that some of the associated banks d
We counted in their cash as leeal-tcnder notes +,
, loan certificates which they have received in ct
king exchanges. This il distinctly contrary to i'm
rules Of the Clearing House Association and 10,
priVes the publication Of the total averages of d.
Y value. The actual condition of the banks Ia
the end of the week must have been poorer La,
several million dollars than the corrected show d.
. The percentage of reserve of the associated l.oi
lks i barely in excess Of legal requirements I'o,
| as it Is well known that some of the banks d,
ii legal money 10 the amount of 30 to Ma
per cent Of their deposits, the position Of some We
ers must be unfavorabc. Naturally there was VI =.
hing doing in time loans. Mo
n" supply OF funds was extremely limited, and do
n on gilt edged collateral was obtained with | No
utmost difficulty. The rate for short periods Tas
u per cent plus commission. but for long y
rs there was no money offered Commercial | y
cr remained entirely unstable II is generally a.
ectcd that as soon interest and dividend dis w
have been completed the rates of do
lrV will hp much caser
he foreign exchanges continued 10 De demon : v
I'd by the high rates for money The SUNNY y
me re handi>o bills vas small while b,ptars Mort
nod ,nluctont IN draw ,oir h;lls ha,o,,-' ~, - Mort
ii not predict I'll" price Of money a week or ! do
tn ahead Tn" market was controlled wholly do
the price of money ON rho DAVIS ,vho, ~ Ore
,vor, HIGHEST tho .xcL, ,,,r.,. -, NV Orc
>''"n@'H N'i'' "'uk'St,
- on the contrary any easing Of the price for inn
~ was followed promptly by an advance in Puts
lonrn There was littic dom, ,os,or,Io, " do
-, 1,,,o,1 Lille .rL al, .i- ,"'A' en- Rich
III ''th,'u ''i' IN" t't"i' 'rdi,ieIs, nut rates do
need half cent 10 the 6 sterling over those do
ent on Friday. The market closed firm AZ do
and S4 SO 1-2 for long and short sterling do l.
respectively. - p
RAILROAD EARNINGS do
he Tribune has printed the gross earnings of 50 p
flour railroad companies or systems for tha "nth