The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-09
OUR TRADE BALANCE fOV
REVIEW OF GOTHAM T.
AND BANKING.
Banks Have Gained HeavilyI1n Cash
and Deposits-Surplus Preserve
Largest In Seven Years1

New York, Jan. S.-The weekly bank
statement shows the followingfchanges
Surplus reserve, increase, E6,475, SOS;
loans, increase, 81, 995, 800; srecie, in
crease. s1,S57. 800; legal tenhers, in
crease, S.25e.1O deposits increase
s1O,52S, 300; circulation, increade, S64, 700
The banks now hold SOS, 2s4 rs in ex-
cess of the requirements of ne Is per
cent rule.
The exports of specie FROM the port
of New York for the week Amounted
to 1000 in gold and s1,1O2,f lbs in sill
yer.
The imports were:
Gold, SS17,SS1; silver, s15121S; dry
goods, 1880, 152; general MERCHANDISE,
S7,2S7. 1S4.
CONDITIONS.
The Financiert says: The conditions
outlined in the analysis of tthe New
! York. bank statement for DECEMBER 81,
indicating an easier money market are
reflected in still more notev3prthy de-
gree-in the exhibits of thef clearing
house institutions for the wetk ending
Jan. s. The banks have gain85. heavily
in cash deposits and the surplus re-
serve is S6.475,S25 larger THIN seven
days ago. The statement includes the
dividend period covering tiny first of
the year. What this means lis shown
in the fact that the clearineE for the
week in New York exceed 81, 4O0, 600 900.
The expansion of 0,52S, 800 ii deposits
and the gain of S9.107.900 represent the
payment of interest which Have been
made.
Part of the increase, fowev3r, can be
attributed to the interior Movement.
which is bringing 50 coo 900 into New
York every week. This mone1 was first
attracted by the temporary nigh rates
prevailing, but its return front this time
will be purely normal oper4tion..
BANK RESERVES
The reserves of the New Y3rk banks
for years have been swelled from jan
uary well into the spring sea3on by in
terror remittances, the expansion be-
ing regulated by current business con-
ditions. There is no reaso4 for be-
lieving that the movement Will be less
than in former years and tht only in
ference is that money will bel easier.
AS the trade balance in fator of the
United States seems to be glowing, it
would not be strange if the Investment
sterling exchange, now >Spprfximating
$50, 100000 were increased. This, how
ever, is dependent solely on the course
of money rates abroad. Thu bank of
England reserve is lower than for years
but as a hearty increase il usually
made after the beginning of. the year,
it looks as if money in Eurdpe is fol-
lowing the same course a3 in the
United States. In that casa the sur
plus funds of this country Twill have
to seek domestic channels foA employ
ment. 1t need not be repeated that it
will necesstate most favorable bust
ness outlook to absorb the full total
of the money now available.
The fact that the treasury is getting
on a self-sustaining basis, mfy relieve
the situation somewhat by stepping the
steady stream that has beeh pouring
into the market because oft the con-
tinued deficiency. Another fhct is the
gradual withdrawal of government de-
posits now in New York. Th4 demands
for loans is increasing alsofand will
operate to steady rates.