Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-23
BANK STATEMENT.
The weekly bank statement shows the
following changes:

BANK STATEMENT.
The weekly bank statement shows the
following changes:
Surplus reserve, increase, $500. 425.
Loans, increase, $l2. AZ, 500.
Specie, increase, $2,00S,600
Legal tender Increase S9Ol2 500
Deposits, increase, so, $50 800
Circulation, decrease, siy7, 7OO
Ihe banks now hold $31, 275, 200 in excess
OF the requirements of the Is per cent.
rule
The Financier says: The extraordinary
increases in the principal items OF the
New York bank statement for the week
ending January 22d, while in a measure
unprecedented, considering the short
space of time required to send the figures
TO the high limit attained, are not at ell
mysterious. Taking the course of last
years flow of money from the interior,
1t is found that the surplus reserve OF
the banks stood during the first week In
January at S3S,0o0,0O0 and three weeks
later at 100000, a gain OF t24,000O00. At
the end Of the month this amount had
been increased another 100000. The 1898
conditions have not been widely different.
Three weeks ago the banks reported Sl5,-
7sS000 surplus reserve. on Saturday the
same item stood at 81, 275, 20g, which goes
amazing increases for the week, have
accumulated eight millions less excess
money than in similar period at the
beginning Of 1897 In fact, the gain in
deposits of $22, $50 800 last week was al
most equalled by the second week In
January, 1897. 1t is interesting to recall
that investments In sterling loans were
then heavy, and that present trade con-
ditions are not unlike those then existing
with the exception that no bank failure
epidemic is now affecting the West, as
was the case during the early part of
1897.
An analysis of the holdings of the in
dividual items OF the banks for the past
week reveals the fact that although one
bank gained nine millions in deposits, and
was apparently able to loan 1t all, the
larger banks, with few exceptions. show
heavy gains. The expansion Of so, 4T000
in loans, OF course, tends to swell the
deposit item, and with the Sll,02l,4 400 in
crease in cash, accounts for the deposit
gain. This money is coming from the
interior, for the most part, and while
larger quantity than usual is going in'o
commercial paper. the bulk is loaned on
the street and perhaps on sterling loans.
All the items are far above anything
heretofore recorded, but 1t shodld not be
forgotten that the Treasury still has
large special deposits in the banks as
result OF the Union Pacific settlement,
and the withdrawal of this money may be
expected soon. It's importance as a fac
tor in the market is not to be under
estimated The New York banks, even
with investments in foreign credits, Will
probably have difficulty in putting out
the funds now accommodating here. and
there is apparently no reason for leaving
the government deposits in bank.
Never before has the situation pre-
scented so many conflicting features. but,
stripped of ambiguity. the strong posi-
ton Of the United States is clearly re-
vealed. This country, through its heavy
trade balances and the entrencbed posi-
ton of the Treasury, can, II 1t is so dis
posed. regulate the price OF money for
the world for some months 10 come.