The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-23
BANK STATEMENT EXPLAINED
NOTHING MYSTERIOUS ABOUT
THE INCREASE.
Comprehensive Review By the Finan-
cier-Imports and Exports of Gold,
Silver and Merchandise.
New York. Jan. 22.-The weekly bank

New York, Jan. 22.-The weekly bank
statement shows the following changes:
Surplus reserve, increase. $500. 425;
loans, increase, 81, All, 500; specie, increase,
s., O0S, coo; legal tenders, increase, $9,0l2, SEQ;
deposits, increase, S22,S $50, 500; circulation,
decrease, Sfs7, 100.
The banks now hold $S1, 275, 200 in excess
of the requirements or the % per cent
rule.
rhe imports at the port of New York
for the week were: Gold, S1o, 4l5; silver,
$50, $50; dry goods, S2.3i5, 936; general mer-
We're: Gold, $7I9,Si5; silver, 81 $50.
INCREASE EXPLAINED.
The Financier says: The extraordinary
increases IN the principal items of the
bank statement for the week ending Jan.
20, which IS in a measure unprecedented,
considering the short space OF time re-
quired TO send the figures to the high
unit attained are not at all mysterious.
Taking the course of the last years ftow
OF money from the interior, it is found
that the surplus reserve of the banks
stood during the full week in January at
S33,O 90,U 900. and three week slater at $751;
The month thisa amount had been increased
another 81. co., coo. The 1898 conditions have
not been widely different. Three weeks
ago the banks reported SIS. l0S. 600 surplus
reserve. On Saturday re same item
stood $31, 215. 200, which goes 10 show hat
the banks, despite the amazing increases
for the week, have accumulated .S,0JOsOO9
less excess money than in a similar period
at the beginning of 1891. IN fact, the gain
in deposits of 81, S59 800 last week was al
most equaled by the second week in jan
Uary, 1897.
1t is interesting to recall thai invest
ments in sterling loans were then heavy,
and these conditions are not unlike, with
the exception that no bank failure cpl
demic is now affecting the west, as during
the early part of 1887.
TnAO
An analysis of the holdings of the indi-
yidual items of the banks for the past
week reveals the fact that although one
bank gained s., 000. 600 in deposits and was
apparently able to loan 1t all, the greater
banks, with few exceptions, showed heavy
ain The expansion of Sl2,4ll,oO in
loans, of course, tends TO swell the de-
post item, and with the Sll,92l, 400 increase
in cash. account for the deposit gain.
This money is coming from the interior
Tor the most part, and while a larger
quantity than usual is going into CONNER
cial paper. the bulk is loaned on the
street. and, perhaps, on sterling loans.
Al the items are above any heretofore
recorded. but ii shouid not be forgotten
that the treasury department has large
snecial deposits in the banks as a result
OF the Union Pacific settlement. and the
Withdrawal of this money may be eX-
Dectcd soon Its Importance as = factor
i'm the market is not TO be underestimated.
New York banks, even Win investments
in foreign credits, will probably have diff
Guilty in putting out the funds now accu-
mulated here, and there is apparently no
reason for leaving government deposits in
banks. Never before has the situation
presented so many conflicting features,
but. stripped of ambiguity. the strong po-
sition of the United States IS clearly re-
vealed. This country. through its heavy
trade balances and the e~ntrenched posi-
ton of the treasury, can. If ii IS so dis
posed, regulate the price of gold for the
world for some months 70 come.
Key TO Health.
See directions on Gray's Laxative