The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-12-12
Weekly Rank Statement.

Loans, increase $4,000. .........-.. 4.aoln
Specie. increase ...........-.-.. s.t4, No
Legal tenders, decrease ............. ,lASSw
Deposits. increase ...... ........... BOO
Circulation decrease . $500
The banks now hold sls,74s,soo in excess
OF the requirements of the - per cent.
rule
The Ffnancier says:
The statement of the New York clearing
house banks for the week ending Decem-
Der 10 indicates an expansion of Si.s6l. So
in loans and 81 o62 20 In deposits. The in
crease in liabilities as shown in the latter
item, makes but little change in the total
OF the bank reserves. the decrease amount
ing to about one-third Of one million dol
lars. II is evidence that the loans have
gone TO swell banking credits and inciden-
tally deposits. the gain In cash partly max
ing up for the discrepancy between the two
items. The net decrease in cash, in fact.
very nearly supplied the added reserve re-
quirement and the statement Is favorable
from a banking standpoint, in that use has
been found for all the money which came
into the institution lart week AS an ex-
emplifcation OF the theory OF banking OPP
eraiions outlined by the secretary Of ne
treasury In his annual review last week.
the current exhibit or the banks fe pecu-
liarly to the point. In detail the statement
current situation. The expansion In loans
can be traced TO three or four Of the ARG
est banks. and gains in deposits have been
limited for he most part 10 about the same
number 1t is evident that the loan Increase
has been due to sterling investments and
collateral buying. although there Is steady
absorption of commercial paper. The ac-
tuai position OF the banks with respect to
cash changes is at variance with estimates
based upon the weeks operations. Curref-
cy from the interior is moving this way and
Is natural at this season The amount VIII
be increased considerably as the January
dividend period approaches. On the other
hand the hanks are losing TO the treasury
about as much as they gain. The net in
crease OF 81, 46a go In cash for the week
therefore WIS unexpected. The seeming
ability CT the banks to extend their opera
tious in proportion to the excess cash re-
ceivesi is an argument against lower rates.
firmness.
The distribution OF the new loans. howev-
or is "A matter of interest. As long as they
are merely the tangible expression OF de-
ferred European credits. they are depend
ent on fractional exchange quotations and
are liable TO sudden contraction. For this
reason II Is difficult to judge the future OF
the money market. The only inference Is
that rates cannot go higher for more than
a very brief period since such move
would almost immediately defeat itself
through gold imports
General Quotations.
Flour-Receipts. 1sTss barrels: exports.
4sl2o barrels market. - avs uises u on.
ter stralghts, ssgogis 50.
Wheat-Receipts 24s $40 bushels: exports,
s5.Gu bushels. Spot. urn; NO. red qsssc;
LOB. Options opened firm and advanced
strongly on covering In nearby options.
irnpellea by builish Argentine news and
damage reports from Illinois,: closed ianlc
net higher Sales included No. red, and
March closed T3Mc.
Wool-F1eece f3fp22c: Texas, HAAS.
Hops-Paciic coast, 1888 crop. lsa2lc.
CofTee-Dptons opened firm al a net gain
OF sale points. Sales COCO bags. including
December 5.55c March 5.I0gfa.sec Spot
RIO frmer; No. invoice. ol4c: No; job
blng. Ic fuild steady: Cordova, safi4c
sugar-Rsw, firm; far refining. 1s-l6c.
centrifugal rs test, 7-iGc; granuiated, sac,
cut loaf, &c.
Metals.
Pig iron--Northeru. sia25al175.
Copper--iake. si2.T5.
Tfn--Quiet.
The firm that fixes the siing price for
miners and smelters quotes lead at 81 at
me Close.