The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-12
NEW YORK BANK STATEMENT
Principal Feature of the Weeks Report is
the Increase in the Reserve.


the Increase in the Reserve.
New York, Jan 1.-THE Evening Post
says:
The bank statement today was one Of
the most remarkable ever put out in
New York City. This is certainly not
surprising, in view OF the thoroughly
abnormal situation. The most imparu-
ant fact disclosed by the returns, how
ever, is an increase in specie and tend
er holdings for the week, Of s7,3l6, 900
The gain goes far to adjust the known
conditions and the very deficient show
qng OF the gains in cash last week, as re-
( heoted in Saturdays bank statement
The increase reported in the two bank
statements of last Saturday and today
ds SS,1SS,300. It is very probable that the
difference between these sums, or part
of it, is attributable to legal tenders
taken out TO withdraw gold from the
treasury. On the whole. today's bank
statement might be considered favorya-
bic, certainly so when contrasted with
last weeks showing. The stock market
so far as it reflected any judgment, did
not seem to look fayorably on the stat e-
ment At all events, prices held firm on
languid trading, until the bank figures
appeared, and then declined Immediate
iy for all important stocks, to the open
ing or lower. This was perhaps a par
tlal result Of differences draw from the
heavy loan contraction. London did lit
tie in this market that was chiefly SELL
ing; its operations gave no clue TO the
probate course Of prices at the settle
ment next week.
New York, Jan. 1.-THE New York
Ffnancier says this week:
The statement Of the New York clear
ing house banks for the week ending
Jnauary II. is a logical reflection Of the
present trend of events brought about
by reason Of the call for a popular loan,
although as an exhibit Of the weeks
business it IS not so satisfactory.
The principal feature considering the
circumstances, is an increase Of 81, 403,-
425 in the reserve. In view OF the fact
that the New York banks may be drawn
on heavily within the next thirty days
by interior institutions, this increase
becomes a matter of some Importance
1t was brought about apparently by the
flow Of money to New York, the banks
having gained large sums during the
week. The increase in legal tenders, de-
spite the withdrawal of large sums in
cident to gold shipments, was, in round
numbers, S51, 000, 900. The total specific
holdings, for the first time since last
June, are il excess of SIC, 000, 900. In fact
they are higher now than they have been
since February last. This does not
indicate much of itself. however, since
tAlE CASH IllN NEW 1OIh DdHh
Is $3.50, 600, 000 as against $3.50, $40. 900 one
year ago. The liquidation in loans con-
tinues. The loss in this item since last
year has been fully SCI. 900. 0OO Deposits
also are falling off and the week closes
with the smallest total known for over
a year.
The loss for the week was small. as
the weeks operations counterbalanced
almost exactly. 1t is plain to be seen
why large bids for the new bonds have
not been reported already for New York
banks. If interior banks draw down
their balances the average New York
institution will have no money TO buy
bonds, unless it calls in its loans, and
that is an arrangement that would not
be profitable. For the reason that the
banks cannot know definitely for some
time how they viii stand in this respect, /
there is little probability that individual
bids for bonds viii be made by New
York bankers before February ( or 3. I
OF course the new bonds will find their
way into the banks here but whether
through a syndicate or by direct bid can
not be foretold.