The Indianapolis journal., 1896-12-27
AN INCREASE IN CASH
NEW YORK BANKS HOLD $4,000. 500
ABOVE Required RESERVE.
Lisffess Condition in stock Exchange
and Commercial Circles-Local
Markets Inactive.
NEW YORK. Dec. 26.-The weekly bank
statement shows the follouipc chappeS.

Loans, increase .................... 657 300
Specie. decrease .......... 4s3 eco
Legal tenders. increase .............. 1850 500
deposits. increase .....................2 2247 800
Circulation, decrease ................ 37.100
The banks now hold s34 10000 in excess of
the requirements of the 25-per-cent rule
The New York Financier says this week:
The statement of the associated banks of
New York city for the week ending Dec.
% covers but five business days and re-
fleets above everything else the nstless con-
dition 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
failures. the banks report increase of
81 .5g7 900 i'm cash, the gain of s2.0SO.e00 in
legal tenders having been Offset by de-
crease of $4SS. 500 in specie. There was ex-
pansion of S657, 500 in loans which. coming
after the increase of s3.512.O00 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 made at an ad
vanced interest figure. the effect of busi-
ness troubles in the West and the approach
ing January settlement period having oDer
ated to raise rates on both call and time
loans. As the total loan increase of 45.49i.-
600 since Nov. has been made at constantly
current week does not appear logical, al
though 1t is generally thought
that the rmer p, tone Will 1bo sd1W qss
of the year. In the meantime the excess
OF idle money in New York grows with
every statement. the surplus reserve, of
$54.3C9.s 500 now reported, being the highest
since Sept Z. 1885. excepting, OF course; the
several weeks preceding & the Fenruary Zen @ bono BOND
mulating specie. The conditions surround
ing these two periods of high surplus are,
however, largely different.
ION Sept. Z. fSs5, the loans of the New
York banks were $5i. .000, 600 higher than at
present and deposits were sol GOO. OOO
greater. AS a large proportion OF the loans
made by the New York banks since cleo
tiCn have been sterling exchange, IT
would seem that the course OF the money
market is now dependent I'm part on devel-
opments affecting the price OF sterling and
a further strengthening in the price VIII
interest rates here AT any rate there Is
reason for this result during the nrst 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
The imports of dry goods and general
merchandise at this port this week were
valued at $6,9SS.354 against N,364.9tS last
week and SS,674.626 the corresponding week
262 of which S22 AS was gold. against s7s.-
SEQ last week 1ad S1566lS the correspond
were s "ssS $50 SsS Of which ss5.ii5 was gold
against SSl5,ST the corresponding period
last year
1T. Louis CIearings to BE SSyeiled.
ST. LOUIS. Dec. 26.-The subtreasury OF
the United States in this city will become
q member of the ST. Louis clearinghouse
Association on Jan. 2. 1897. Subtrcasurer
George Small received to-day from Secre-
tary of the Treasury Carlisle letter ap-
proving of Il contract with the Clearing
house Association. The entrance of the
subtreasury into the clearinghouse AS
ISOLATION is an important business event
For years the bankers of St Louis have
been laboring with the government TO bring
about what they have just accomplished.
Only ore suotreasury belongs to a clearing
house associat ton and that is the one at
New York. The Importance of the admis-
sion of the St. Louis subtreaSury 10 the
Clearinghouse Association viii be under
stood when IL is stated that In the past
year S93. co. 000 in actual money has passed
from the vaults Of the subtreasury 20 the
banks and vice versa