The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-11-21
BANKS AND BANKING IN GOTHAM
STATEMENT FOR THE WEEK,
WITH EXPLANATIONS.
Money ACKNOWLEDGEMENTS Weeks
Changes Complicated With U. P.
Settlements-Demand For Money
Falls Off.

New York. Nov 2O.-The weekly bank
statement shows the following changes:
Surplus reserve, increase, $1,64S, 100;
loans, increase. 1858, 200; specie, increase,
1913 800; legal tenders, increase, $2795,600;
deposits, increase, $7.7S5.600; circulation,
decrease, $4,000
The banks now hold $3.50 ,25O in excess
of the requirements OF the % per cent
rule.
NO NEW FEATURES.
The Financier says: The statement of
the New York clearing house banks for
the week presents no features of import
ance, beyond the plain evidence that
money is still accommodating at this CEN
ter. The weeks changes, however, are so
complicated with the Union Pacific fore
closure settlements, which begin Mon
day with the transfer of the sinking fund
bonds to the syndicate, that DEFINITE in
payment of S13.00O,000 is to be made
through the depository banks and prepar-
ations to that end have been finally COM
pleted.
The contamination explains the heavy
balances by some of the banks at the
clearing house during the past day or
two, and also the increases and decreases
in the totals of the statement Thus the
actual increase in deposits can be traced
to eight of the larger banks.
The accumulation of cash for the week
was not less than SO, SIS, 500, but it is note
worthy that the reserve of the bank that
has taken the leading part IN the Union
Pacific deal fell off S4,4S0,0O0 Some of the
more prominent banks mentioned in con-
nection with the plan have gained in cash,
but there is no doubt that the expansion
was due in a perceptible degree to the
flow of funds from the interior The loans
increase is also involved in the causes
that are mentioned.
DEMAND FOR MONEY FALLS OFF.
The gain for the week cannot be at
tributed to mercantile needs, from the
fact that the expansion of one bank
which has been advancing money to the
| Union Pacific syndicate was over $1,000,
I 600. The truth of the matter is that the
loans of the rest. of the banks. have con-
tracted $T2S,000 since the previous state
ment. AS matters stand, the total in
crease in the loans of the New York
banks since Nov. has been s10,774,9 800
toned have in the same time grown about
! SIP, 0G0, 000 the only inference is that the
! demand for money for business needs
has fallen off and that maturing loans
are being ltquidated
WESTERN LOANS.
But little money is being loaned in the
west in channels which usually absorb
-aIge takings at this season. The season
of an inward flow of money is at hano
and unless something unforeseen occurs
| lne OuLiOOh Is loI COHllIlueu cheap money
Bankers are talking of a reduction OF
1 interest on country bank balances, but
nothing definite is forthcoming on this
point.
SPECIE IMPORTS AND EXPORTS.
Exports of specie from this port fol
the week were 1881, COS (of which $500
was gold, against S1,O14, $50 the same weel
last year.
Imports of specie for this week wer,
$196, 1913 (of which Sl2O, 243 was gold, agains
S156717 last week and BAT in the CORE
spending period of last year.
The imports of dry goods and genera
merchandise at this port for the weel
were s., $685. 61, against 81, 1873 455 last weel
and 50. 115,936 in the corresponding Weel
of last year.