The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-11-27
RK, Nov. 25.-The Financier

NEW YORK, Nov. 25.-The Financier
says.
THE release of government funds on
clated banks of New York city to largely
increase their cash holdings, the sur
plus reserve of Sc, 652, 200 contra sting
sharply with the deficit of $3l2, 900 re-
ported year ago. Singularly enough,
however, The banks, taken individuality
DO not seem to have strengthened their
standing much, one large institution re-
porting gain in cash greater than the
aggregate Of all the banks. The de-
post item shows the same result, so that
the only benefit the other banks have
derived is in lessened reserve liabilities
which does not affect their losses in
cash. The individual reserves, therefore,
are not increased perceptibly
The majority of the banks would seem
to have lost slightly in cash and in de-
posts, and expanded their loans So
far as the outlook is concerned there
seems to be disposition towards easier
rates, although the decline may not be
more than nominal.
THE steady contraction which has been
going on at this center for some months
cannot continue indefinitely Deposits
are now lower than at this time last
year, and loans have shrunk much be-
low the November, 1898, average.
THE only difference in the two exhib-
Its Is that at this time last year the
banks had $19, 000,0 600 more surplus re-
serve. AS they have the opportunity for
securing government funds now, and as
the interior movement favors New York
this discrepancy may quickly disappear.
1t is doubtful, however, that the begin
ming of the year will be marked by the
wild expansion that opened with Janu-
airy, twelve months ago"
LONDON STOCK REVIEW-London,
Nov. 26-There was little temptation Of
change last week The condition of
money had a distinctly restraining in
fiuence. The market was slightly nervous
over the situation in South Africa. The
feature of the situation was the continued
selling of consols which closed q point
lower on the week. This, of course, in
f1uenced the prices of all gilt-edged Sc
curities, but the decline was only moder-
ate. American securities were irregular,
although the trend was generally up
ward under continental buying. Pennsyi-
York Central and Hudson River, IA
Baltimore & Ohio preferred, 5; Baltimore
& Ohio ordinary, l, and Illinois Central, /.
Most of the others were fractionally low
per cent; fixtures We're firm at per cent
and three months bills were quoted at
from 81 to 5as per cent.
FOREIGN FINANCIAL-New York
Nov. 25.-The Commercial Advertiser
London financial cablegram says: Gen
eraI markets were quiet today, with some
inclination to heaviness under realizing
sales. Selling was due again to antici-
patton of dearer money. The news con-
corning the Khalifa had no effect Con-
soils weakened again to 1929. American
shares opened fairly firm, eased off end
hardened again at the close. The major
ity Of changes were unimportant. Balti-
more & Ohio and Union Pacific issues
were strong, and there was a very large
demand for Pennsylvania: large part of
which was to cover local options, and q
part buying for investment"
WEEKLY BANK STATEMENT-New
York Nov. 25-The weekly bank statement
shows the following changes: Surplus Rs
serve, increase, $6964,225; loans, decrease,
So, 125, $780, specie, increase, S., 232 800; legal
tenders, increase, $2,0122O0; deposits. in
crease, 81, 121, 200; circulation, increase, So
800. The banks now hold $6, 654, 200 in eX-
cess Of the legal requirements.
BANK CLEARINGS.
st. Paul, $704,4O1.O7
Minneapolis, $2.406, III
New York SIZE, 49, Gil.
Boston, $40, SAG, 1S9.