Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-12-27
NEW YORK BANK STATEMENT.
What the 'Fiuancicr" Hns 10 Say
With Respect TO IL.

NEW YORK. December s6.-The weekly
statementment OF the Associated Banks
shows the following changes:
Reserve, increase, N.oG5l75.
Loans. increase. S6j7SOo.
| Specie decrease. SiS3. 600.
Legal tenders, increase. s2.0S0,6
Deposits. increase. S2,2n. 800.
Circulation. decrease. s37.l00.
The banks now hold SSl.309,eD0 in excess
of the "a per cent. required by law.
The New York Financier this week
says: The statement Of the Associated
Banks OF New York city for the week
ending December eSth. covers but five
business-days, and reflects. above every
thing else. tho listless condition incident
to the week in Stock Exchange and com
mercial circles.
Despite tho calls for currency from this
centre, which set In after the several
large western failures. the banks re-
port an increase Of S1.597,OOO in cash-the
gain OF s2,oOe0 in legal tenders having
been Offset by n decrease Of Sls3.6ro in
specie There was an expansion Of $751;
800 in loans. which. coming after the in
crease of S3,5i2.0O0 for the week previous
and the large gains of preceding weeks,
show the dulness into which the market
has fallen But the very moderate In
| crease reported was made at an advanced
| interest figure. the effect Of business
| troubles in the West and the approaching
January settlement period having ope-
rated 10 raise rates on both call and
time loans As the loan increase Of
| Sf5. $4,000 since November 7th has been
made at constantly reduced quotations,
the advance for the current week does
not appear logical. although 1t is gene
rail- thought that the frIner tone will
| -l,- 10 AZ a
Of the year.
In the mean time, the excess Of idle
money in New York grows with every
statement. the surplus reserve of SSf3os.-
900 now reported being the highest since
! September Z. 1895. excepting Of course
the several weeks preceding the Febru-
ary tond-loan. when the New York banks
were accumulating specie. The condi-
| tions surrounding these two periods Of
high surplus, however, are largely diff
ferent. On September Z, 1895, the loans
of the New York banks were S3ieo.o)0
higher than at present and the deposits
were sol 10000 greater. As a large pro-
portion OF the loans made by the New
| York banks since election have been on
sterling exchange. il will be seen that
the course of the money market Is now
dependent in part on developments af-
| fecting the price of sterling, and fur
| ther strengthening in the price VIII
/ doubtless tend toward maintaining bet
ter interest rates here. At any rate,
| there Is reason TO look for this result
during the first part Of the coming year,
and it Is perhaps due to these anticipa-
tons that the rate is now strengthen
ing. although the accumulation Of idle
money continues.
COMPARATIVE STATEMENT.
| The averages show the following, COM
| Dared with the last two years.
De. 25. sc. De. 2S. '95 De 90 '9i.
Loans ....S4s7. 1890 $47S 4sG 800 Si92.6i7 600
Specie ... 76,76S0OO 67.11i2oO 75,76oooO
| Legal ter
ders .... S9,OO1.2o0 74,s07,S0 9S,sSl,loo
| ct e.
p,shs -. 90. .sg72o) sol, $3.50 GsS2si %
! Cir,ula
ton ...... 1s.7cO0OO 1S,9267co n.29i7oO
| Total re-
/ Reserve re-
quired ... 181. $1,000 125.27222 1S7.S22 $50
| Excess of re-