New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24

RESOCRCI-S-WONDEi
TUI. RECORDS SHOWN IN THE CLEAR
ING HOUSE STATEMENTS THE IMPoR-
TATIoN OF GOLD AND THE
NEW WAR LOAN.
The statement taat New-York exchange Is as
good as gold anywhere leaves nothing to be
added In describing the Importance Of the
metropolis as the financial centre Of the West
crn Continent The banking system OF New
York is not only the chief support and prop Of
the enormous and unlimited trade OF the city
proper. but In times OF National financial perils
the bankers Of this town have rendered In
estimable services in assisting In bridging over
difficulties and steadying conditions so that In
the end the stability Of American finances and
Institutions has been forcibly demonstrated to
the other nations OF the world
The financial supremacy Of New-York has
been justly ascribed to safe and successful
= banking methods. From the time when this
port began its wonderful career as tie leading
city OF the New World there has been thrown
around its financial institutions every safe
guard that conservatism. wise judgment and
unexceed executive ability could plan and de-
wise Alexander Hamilton Americas fret great
:inarcier, placed his stamp OF approval upon the
growing and developing system. and from that
Gay to this New-York banks and bankers have
stood prominent, respected and esteemed in the
councils Of the city and Nation.
Under existing laws and treasury currency
and banking systems the local institutions have
steadily grown In strength as regards their re-
ltions with the banks OF the interior towns
and cities Around the New-York Clearing
House and its membership OF sixty-lve Of the
foremost banks OF the city. not to mention the
6ubTreasury. with it's annual transactions OF
enormous proportions and It's widespread in
nuencc. royolves the business OF the United
States. Imports and exports. the commerce on
the seas. manufacturing industries in all States
OF the Union. wholesale and retail houses OF
every description and all the professions are
made to feel the financial power and might OF
New-YOrk. There are circles within circles and
systems within systems. but in the end New
York is the pivot around which they all move.
the centre from which radiates the money sup
ply for the entire country.
STUPENDOUS TOTALS
Accustomed az they are to big figures and
big affairs, the metropolitan readers themselves
are forced to stand aghast at the colossal fig
ures shown in the Clearing House statements
Some persons are brought daily in contact with
the actual business and it's magnitude: others
have a general notion Of the fact that the daily
commercial transactions OF the Greater New
York require enormous sums OF money, while
the great bulk Of the population give it little if
any attention. The total capital OF the asso-
cated banks which compose the Clearing House
Is $5S,272,7Oo. An examination Of the financial
exhibit Of various banks rings to light many
interesting points. The capital Of the different
institution runs from $4,000 TO S5.0OOOOO The
total net profits which have been made and re-
Served arc shown to be S75911 800 But as re-
lated in the individual cases to the capital this
Item OF net profits tells its own story. For In
stance. there is one well-known institution with
q capital Of $500 coo and net profits Of 81 $780,
900 while on the other hand bank is found !
with a capital Of 81 100000 and a ret profit Of
only about $4,000. But these figures are the |
result Of varying length OF business lie
and other conditions which have to do with |
the management OF the business. In ore case
the earnings OF the bank may have been paid !
on. In dividends to stockholders. while on the
other hand the profits have been placed In re-
serve.
The statement Of the banks becomes espe-
cially significant when tine column Of Dc post is
reached In one OF the weekly statements Of |
last month. which n record. by the way, it
appeared tina, the banks in The Clearing House
Association alone had deposit $3.50 49,. 900.
as acairct loans Of sc93 40, 90 A mere glance
at these stupendOus sums will satisfy the
age man that 40 small trade is gong within
tho limits Of the town.
Out of the total number OF banks in the Bor-
ough Of Manhattan. forty are State Institutions.
having a toial capital OF 200, and a
surplus fund OF Sl1, 10000 and undivided
profits OF 81. lG1,O1J According 10 the state
ment OF the Banking superintendent OF the
State OF Ncw-IOrk for the nine months ending
September 20 Of the present year there was
due dcpositors OF demand from these forty