Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-28
BANK STATEMENT

DAMN - ChENl.
The weekly bank statement shows the
following changes:
Surplus reserve, decrease SS47,325.
Loans, increase, $l4O97 400.
Specie, increase $jOO,9O0
! Legal-tenders, increase, Sc, $500.
! Deposits, increase, $16.7i41O0.
| Circulation, increase, $4,000
| The banks now hold $22 $50, 92j in excess
| Of the requirements of the Is per cent.
rule.
The Financier says: The changes in the
| totals shown by the bank statement for
| the week ending November 9th are con-
nected entirely with the transfer OF Union
| Pacific funds TO the several depository
| banks, and do not in the least reflect the
| advanced business conditions which are
| generally associated with heavy loan or
| deposit increases. The statement does
not balance, but the one item which cf-
fords a clue to the real position of the
different institutions is found in the gain
Of cash during the week. This is larger
than the reports Of some of the leading
banks had indicated, but the flow Of
money to this centre from the interior
during the week. it is known, has ex-
ceeded the outward movement by at least
81 100000 The increase in deposits is of
course, accounted for by the check given
by the Union Pacific Reorganization
Committee to the National City Bank,
and by II distributed pro rata among the
different depository institutions. Aiding
the actual gain in cash from the interior
movement TO the Union Pacific fund, the
deposit item appears approximately cor
rect. The individual increases, however,
are interesting. The deposits Of one bank
have been swelled no less than twelve
millions through the operations described
above, and the increase of four insttu
lions amounts to seventeen millions,
which is larger than the total expansion
reported by all the banks. The gain of
over two millions reported by the Western
National is due evidently to the absorp-
ton OF the business OF the United States
National, which II has purchased.
The result of the weeks business has
been to swell the deposit item Of the
statement to figures never before ap-
preached. The present deposits ore
seventeen millions in excess OF the high
est total achieved on September 1lth last
The great expansion In loans Is fea-
ture of the statement that cannot be
satisfactorily accounted for 1t runs al
most coincidently with deposits, and the
institutions making the largest gains in
that item also report the highest gains
I'm loans. In other words, the statement
makes II appear that profitable use has
been found within three days for nearly |
all the money received from the Union |
Pacific Company. The conditions of the |
market do not warrant this assumption.
AS the Reorganization Committee is sup
posed TO have secured all the money |
needed for its use before the settlement,
The cause must be looked for in other
directions.
During the last several sales by the
the banks receiving ponas
have sometimes carried them temporary
iv as loans. but as this does not apply In
,bo present case, the conclusion Is In
syitable that the expansion is involved in
come technical method of averaging.
otherwise. the increase is wholly con-
Trajectory Of facts.
RICHMOND STOCK Market
KIoaaoso. November 81 1897.