The age-herald., 1898-01-23
BONDS.
Financial

New York, Jan. 22-The Financier says: The extraordinary increases in the prin- cipal items of the New York bank state ment for the week ending Jan. g, while in a measure unprecedented, considering the short space of time required to send the figures to the high limit attained are not at all mysterious Taking the course of last years flow of money from the interior, it Is found that the surplus reserve of the banks stood during the first week in Jam uary at $33, ,OOO 900 and three weeks later at $57, 900 ,OOO, a gain of $2i,O00OOO. At the end of the month this amount has been in. creased another $2,000000. The 1898 condi- tions have not been widely different. Three weeks ago the banks reported $15, ,78S 900 surplus reserve. On Saturday the same item stood at $31 200, which goes to show that the banks, despite the amazing in- creases for the week, have accumulated $8, ,000, ,000 less excess money than in a sim- liar period at the beginning of 1897. In fact, the gain in deposits of $22, ,S59, 300 last week was almost equalled by the second week in January, 1897. It is interesting to recall that investments in sterling loans were then heavy, and the trade conditions
 
 bank failure epidemic is now affecting the west as during the early part of 1897. An analysis of the holdings of the individual items of the banks for the past week reveals the fact that although one bank gained $9,000,0 900 in deposits and was ap- parently able to loan it all, the larger banks, with few exceptions, show heavy gains. The expansion of SHAFT 900 in loans of course tends to swell the deposit item. and with the $11, ,021 400 increase in cash accounts for the deposit gain. This money Is coming from the interior for the most part, and while a larger quantity than usual is going into commercial paper, the bulk is loaned on the street. and perhaps on sterling loans. All the items are far above anything heretofore recorded, but 1t should not be forgotten that the treasury still has large specitl deposits in the banks, as a result of the Union Pacific settlement, and the withdrawal of this money may be expected soon. Its importance as a factor in the market is not to be unlerestimated. New York banks, even with investments in foreign credits, will probably have difficulty in putting out the funds now accumulate ing here, and there Is apparently no reason for leaving government deposits in the hanks. Never before has the situation pre- sented so many conflicting features, but, stripped of ambiguity, the strong position of the United States is clearly revealed. This country, through its heavy trade bal ances and the entrenched position of the treasury, can, if it is so disposed, regulate the price of money for the world for some months to come.
 New York, Jan. 22.-Evening Posts Eon- don financial cablegram:
 The stock markets here were irregular today, business being checked by politics and the settlement in mines to begin on Monday. There is fidgety feeling about eastern matters and the feeling about Unit ed States and Cuba is not favorable.
 New York, Jan. 22.-The weekly bank statement shows the following changes: Surplus reserve. increase ..... ....$ 53O6, ,425 Loans, increase ..... .. ........... IF 472,5 300 Specie, increase - m .......... ZOOS, ,6J0 Legal tenders, increase ....... 9,0l2,SO0