The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-05-01
new YORK ASSOCIATED BANKS
WEEKLY STATEMENT OF THEIR
CONDITION..
Continued Gains In Surplus Reserve
Conclusions Drawn by the FL
nancier-Country Banks Reserve.

New York, April SO.-The weekly bank
statement shows the following changes:
Surplus reserve, increase, $s7s,575;
loans, decrease, $2.44S, 200; specie, in
crease, s., s75, 500; legal tenders. de-
crease, s2.674. 500; deposits, decrease. 81
71S,90O; circulation. increase, S1I4,SOe-
The banks now hold $44, 504,6l5 in ex-
cess of the requirements of the 20 per
cent rule.
The Financier says: The bank state
ment for the week ending April 30 pre-
sents no features of interest beyond the
continued gains shown in the surplus
reserve, which now approximate $44,-
500 900. On Feb. 20 the reserve of the
Clearing House association consisted or
sS6O76, 900 legals and s119, $4,000 specie,
a total of S205, 2S2,0 900.
On April 80 the cash holdings were
made up to s15s, S92. 800 specie and $50
49,, 700 legals, or a total of $2O9, 800
LOSS AND GAIN.
In a period of but little over two
months. therefore, the banks have lost
$35, 339, coo legal tenders and gained $685.
206, 600 gold. Their total cash holdings
are 81, 600, 900 heavier than at the close
of February. but in the same time they
have decreased their loans S11,6SO, 900,
and their deposits $S0,711,0OO. This Will
give an idea of the general liquldatlon
that has been in progress for 90 days.
The conversion of sterling bills into
gold imports accounts in large part Tor
the loss in loans.
The decrease in deposits has been IN
fluenced by the demands of interior IN
situations. The loss in loans and de-
POSTS almost counterbaIances, but the
reserve requirements of the banks have
been reduced s17,000,000, so that with
but 81. 0OO, 600 more cash on hand than
reported so days ago, the surplus mold
ings are over $21, 100000 greater. In
other words the excess reserve IS now
S44, 504 600. Sixty days ago IT was W.
$50, 1926.
GOVERNMENT LOAN.
The issue of a government loan Will
largely reduce this amount, but 1t VIII
not necessarily require a further con-
traction of the several important items
of the banks.
Up to the present time the New YORK
institutions have been taking care OF
their customers, but the amount OF new
business has been almost nothing.
lust what percentage of reserve the in
terror banks are now carrying is not
known. but that they are unusually
heavy admits of no doubt. The logl-
cal trend. once the new bonds are is
sued, will be toward an easier market
for money.
This conclusion finds a basis in the
fact that the country is recovering
from it's fear of possible consequences
of war, and also in the tendency OF the
banks to take out new circulation
The increase in that item during the
present month by the New York banks
has been no less than s39e,0OO
The decline in the price of bonds and
the high rates for money have oeen
the inducements which have led to TINS
increase. Probably a fair percentage OF
the new bonds will be used by the
banks for the same purpose, but only
in case rates remain firm.
GOLD AND SILVER
The gold and silver movement at
New York for the week ending today
was: Exports of gold, $123. 1873; exports
of silver, s67S,SSs; imports of gold, So
$50, 552: imports of silver, S96,s1S: The
imports of dry goods and general mer-