Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-04-19

serve. increase, $,os1oo: loans. Increase,
yo17. 400: specie, decrease. $3U.6oo: legal
tenders increase ss0.lco; deposits. In
crease, $4,000: circulation. increase. no.
COO.
The banks now hold sls.3l9.s5o In excess
OF legal requirements.
The Financier says: The statement
OF the Associated Banks for the week
shows an Increase In every Item. except
ing specie, which decreased s1oo,oo.
Loans expanded during the week to the
extent OF ~o7.4oo. bringing the present
total outstanding loans OF the clearing
house banks up to sies.z9,&o. The In
crease In deposits was sgCS.eo0, making
the present total ss4cs1oo. Tho state
ment as a whole, reflects that the re-
ceipts OF currency during the week from
the interior were lighter than had been
estimated. The actual net Increase In
the cash holdings OF the banks only
amount TO Si34,5o0. and. as 100000 was
sent abroad, II Is evident that the week 3
receipts from domestic sources can bare
Nv have exceeded 100000. In general
business circles the week Indicates a
gain. although not as perceptibiy at
eastern cities as west OF the Mississippi
Valley. In that section, and also in Bal
timore and Plttsburg. there has been
extensive retail buying. and this has ma
turaIly resulted in a better demand at
wholesale.
The general tone of the financial week.
however, indicates that there Is no
abatement in the almost universal dis
position to deal with unusual conserva-
tism, and not to anticipate future wants.
The fact, however, that the country-bank
clearances for the week are per cent
< ID
per cent. larger than the same week a
year ago. is evidence OF a slow, but
general. increasing volume OF trade. An
other favorable factor Of the week was
the reduction OF rates on commercial
paper. from to 5 IL per cent. discount
At the close some business was done
on n 5-per-cent basis, and New York
bankers predict that this will result In
a slight Improvement in general business.
This reduction Is largely due 10 the re-
action In the rate for call-money which
averaged 21-2 per cent.
should out-of-town remittances to New
York reach any very considerable mag
nltude, Il is likely TO result In the Sec
retary of the Treasury's calling upon
the depository banks to turn over fur
Their instruments OF the S2,65o,Oo which
they strl hold on the bond account. The
depository banks originally held $Sl,5oO,oco,
and. should the remaining N2,0W.No
he called for. It would naturally stiffen
the mopey-market and lessen gold ship
ments.
In the weeks currency movement the
shipments from the West have been
haayv and had undoubtedly an offset
I'm remittances Of this clty's funds against
New England discounts. Manufacturing
10 md
which has played n part in the apparent
w more liberal discountlng Of CONNER
cial paper.
Tho changes In the statement brought
about an increase in the reserve Of $685.
100 which, Il is noteworthy to remark
brings the surplus figures on a level with
those existing at the close Of March. In
the cold movement OF the week the Eu-
ropean banks have, as a rule, gained,
and have. on the other hand. contracted
circulation. The most noteworthy gold
gains are $4,000 by the Bank OF Eng
land and almost s5,50O,Oo0. Including sill
ver) by the Bank of Germany.
The averages show the following, COM
pared with the last two years:
AID. H. '96. APP. 20 '95. APP. q. 81.
Loans ssG6 2fe. so $3.50, 721. 40 $3.50 os9 400
specie .. 5S.e29.40o 6s,s37,Soo ss,92oToO
Legal ten 90 ,oo
.ders S'5AlD 0oio'V'' A-''f'-'i"
Net depos- .o.... ,,o -oo ,oo
its o.. fi,v09"o olV'loo''W "o'''"''i'"
Circula-
ton. e. 1i,SolsV lo'zIf"" Wo'o'oo'
Total re-
serve l3s,l93hV lf''%li'SV @Nf'o'f'o"
Reserve re-
qulred 12l0l4,25o Hf'fS'V'o liz'Set'"o
Excess Of re-
serve -. 1s,l29350 19h4.225 S,0l0o25