The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-03
BANKS ON A SOLID FOOTING.
OPINION OF THE FINANCIAL
ORGAN OF GOTHAM.
Weekly Statement Shows an Increase
of S1,s69, 1875 In Excess of Re
serve-Business Narrowed to Close
Limits.

New York, April 1.-The weekly bank
statement shows the following changes:
Surplus reserve, increase, S1.S96 325;
loans. decrease. s4,S17, 200; specie, in
crease, 1920, 500; legal tenders, de-
crease, SO, 413, 700; circulation. increase,
s4.1OO.
The banks now hold ST., 800 500 in ex-
cess of the requirements of the % per
cent rule.
EXPORTS AND IMPORTS.
Exports of specie from this port for
the week ending today were $949, 442, of
which 1888, AGA We're of gold, and $S15,976
We're silver bars.
Imports of specie at New York for
the week ending today were 81 $50,
SiS,2S6 were of silver.
The imports of dry goods and gen.
eral. merchandise at this port for the
week ending today were $3,312,015.
| AN INCREASE.
The Financier says: The statement
of the associated banks of New York
| City for the week ending April l, shows
an increase of 81, S69, 325 in excess re-
serve, but it is evident that the gold
imported TO date does not show in the
totals. Since the present movement
began there has been received in New
York over $29, 100000 in specie, but the
specie increases as reported by the
banks since the first receipts are less
than S22,000.000. This, it should be
stated, is inclusive of domestic re-
ceipts. The operations of the week
were not widely different from what
had been anticipated. Loans show
further shrinkage of $4.317, 200, due to
general liquidation in stock exchange
circles and the sale of sterling eX-
change collateral, while deposits de-
creased $3,41S, 200. The shrinkage in
deposits probably represents in part
Withdrawals by interior banks, since
the movement of currency is once more
against this center, but the loss of
S4,250. 700 in legal tenders appears to be
in excess of the known shipments to
country banks.
SOLID FOOTING.
The decrease of SO, 41S, 700 in deposits
lowered the reserve requirements $S53,-
425. and this, added to the gain of
81, 800 in cash, makes the expansion
in excess reserve as reported above.
The banks are on a very solid footing.
Their business has been narrowed to
close limits, and the cash reserves have
increased in proportion.
Counting the gold now in shipment
and the larger amounts which can be
obtained without trouble, they are pre-
pared to meet emergencies. Future /.
money quotations depend on this /
weeks developments in congress, but /
it is assuring to know that the chances !
of a squeeze in rates have been mini
mixed to a large extent by the appro- !
priations already made. Another rapid
advance is bound to bring additional /
and heavier gold imports, and as the /
interior banks have taken at least SEQ !
100000 from New York institutions. +
their reserves should be heavier than
ever.
COUNTRY BANKS RESERVE.
1t is-interesting to note that the law
full reserve of the national banks, ac-
cording to the statements to the comp
troller on Feb. is, were $10,000,0 900 heav-
Ter than on Dec. 10, and that the per-
of reserve of the country banks
was no less than 34.2S per cent. The
average cash reserve of the entire ma
tional system was 1923 per cent, but
this has increased in the last six
weeks. The banks in brief are unusu-
ally well supplied with money.