The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-28
INCREASE IN Cash
DESPITE CALLS FOR CURRENCY
NEW YORK GAINED OVER A
MILLION.
LOANS ARE ALSO LARGER.
BUT THE EXPANSION rs MODERATE
COMPARED WITH THE PRE-
CEDING WEEKS.
RESERVE HIGHEST FOR A YEAR.
The Holdings Of the Banks Are Now
Thtrty-Four Millions Above the
Legal Limit.
LOANS ARE ALSO LARGER.
RESERVE HIGHEST FOR A YEAT

NEW YORK, Dec. 26.-The New York FL
nancier says: The statement of the associated
banks OF New York city for the week end
Ing Dec. rs covers but five business days
and reflects above everything else the listless
condition incident to the week in stock ex-
change and commercial circles. Despite the
calls for currency from this center which
came in after the several large Western fail
ures, the banks report an increase Of 81, 597,-
VVo in cash, the gain Of $685. 500 in legal
tenders having been Offset by decrease of
$4SS,600 in specie. There was expansion of
S667,SO0 in loans. which, coming after the
increase Of $S,512OOO for the week previous
and the large gains of preceding weeks, shows
the dullness into which the market has fallen.
But the very moderate increase reported was
made at an advanced interest figure, the eff
rect OF business troubles in the West and
the approaching January settlement period
having operated to raise rates on both call
and time loans. AS the total loan increase
OF $46, 494, 900 since Nov. ~ has been made
at constantly reduced quotations, the ad
vance for the current week does not appear
logical, although it is generally thought that
the frmer tone will show no relaxation until
after the first of the year. In the mean
time, the excess of idle money in New York
grows with every statement, the surplus re-
serve Of $S4, 3O9, 900 now reported being the
highest since Sept. 7, 1895, excepting, of
course, the several weeks preceding the
February bond loan, when the New York
banks were accommodating specie.
The conditions surrounding these two periods
OF high surplus. however, are largely differ
spts On Sept. Z, 1895, the loans Of the New
York banks were $S1, 900 900 higher than at
present, and deposits were S51, 0OO, 900 greater.
AS large proportion Of the loans made by
the New York banks since election have been
on sterling exchange, it would be that
the course Of the money market is now de-
pendent in part on developments affecting
the price of sterling and further strengthen
Ing in the Drfn0 will doubtless tend iowa rd
maintaining better interest rates here. At
any rate there is reason to look for this re-
suit during the first part Of the coming year,
and 1t is perhaps due to these anticipations
that the rate is now strengthening, although
the accumulation of idle money continues.
WEEKLY BANK STATEMENT.
NEW YORK, Dec. 26.-The weekly bank
statement shows the following changes:
Specie, decrease NEUTRALITY-SUSPICIOUS.. 483, 900
Legal tenders. increase. ............. ,080, 800
Deposits, increase Observation-Disclosures. 2,247 300
The banks now hold $s4 so9, 800 in excess Of
the requirements OF the Is per cent.
SPECIE MOVEMENT.
NEW YORK, Dec. 26.-The imports of spe-
Gle for the week were $40 1876, of which $22 44S
was gold, against $40 500 last week and S156-
618 the corresponding week last year. The
exports of sepecie were $3.50, O06 of which $685.
445 gold, against $315, 374 the correspond
ing week last year.
BANK CLEARINGS.
NEW YORK, Dec. 26.-Clearings, s101, 912-
$50; balances, 5,64S164.
Boston, Dec. Chickering's $14, 059, 646; bal
ances, 81, 457, 4S3.
TREASURY STATEMENT
WASHINGTON, Dec. 26.-Today's state
ment of the condition of the treasury shows:
Available cash balance, $225, 351 ,593; gold re-
serve, $685. 023, $40.
CHICAGO MONEY
CHICAGO, Dec. 26.-Money steady at 6G7
per cent. New York exchange not quoted
Foreign exchange barely steady; demand,
$4.87; sixty days, $4.83%.