The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-07
Al New Street, New York.

lateral; 1907, 100 ,304 represents two or more
name paper. and s525. 940,s11 single name
paper. including both demand and time
AN examination Of the loans as CLASH
fed In the returns, indicates that 62.s3 ger
cent of the loans Of banks in central re-
serve cities is secured by stocks. bonds Or
other collateral; PIGS per cent is paper
with two or more individual or firm names.
and 1882 per cent single-name paper. OF
the loans of the banks in other reserve cit
les, 1865 per cent is with collateral 1856
per cent two or mere name paper, and 23. 90
per cen; single-name. Outside OF the re-
serve cities, 1916 per cent OF the loans is
covered by collateral, j0.12 per cent is rep
resented by two or more name paper, and
1913 per cent single-name paper. OF the
total loans OF all rational banks, ~ per
cent is with collateral security; nearly 81
per cent Is paper, 9Th two or more indi-
vidual or firm names and 81 per cent paper
with one or more individual or firm names,
including both demand and time.
In amounts due from other banks and
bankers there was an increase Of $3.50, 3d.
S96 in specie, s44, 691, 225 and in aggregate
resources S646, 944,0sS The decrease during
the year in capital stock has been 81, 652,-
sos; and the increase in surplus and profits,
$685., 459; individual deposits. SAG, 211 .055;
and in bank deposits, $3.50 ,532 614.
by comparison of the returns on June
80 with those on September T. It is noted
that the resources of the banks on the
former date were greater by sjS,47S, al. 40
than on September Z, the reduction being
cccasioneG by the withdrawal OF deposits
between those periods. Notwithstanding
this reduction in total resources, the loans
and discounts OF the banks on September
exceeded the amount on June 80 by 81
= 4 l.
during the existence OF the national bank
Ing system.
The fluctuations in the amount OF out
standing circulating notes of the banks
have been as follows:
ION July Il, 1898. the amount out
standing was slS9. sec. PCS: increased on
September 20 to 1874, 4s3, 765: on December
to s207. 093.317, and from February 4,
1899 TO September I, decreased from $685.
$50. l04 to 5000. 345, 56f
THE law requires the maintenance by
national banks in central reserve cities of
a cash reserve OF 25 per cent upon deposit
liabilities. The banks in other reserve
cities are required to hold the same per-
centage of reserves. but one-half OF the
legal requirement may consist OF deposits
with approved reserve agents in central re-
serve cities. Banks outside Of reserve cities
are required 10 MAINTAIN a reserve OF 10
per cent, two-ffths OF which must consist
OF cash in bank and three-ffths may be
by deposits with approved re-
serve agents. On September the net de-
post liabilities Of the national banks OF
the country aggregated s3031. 1863 ole. which
required reserve Of $500 7s9.1 41. The re-
serve held aggregated $3.50 ,5ss S25. or 29.3S
per cent. The composition OF this reserve
was as follows:
Specie. $685., 571, 1888; legal tenders and
United States certificates OF deposit for
legal tenders, 1927, 75i SOL; due from re-
serve agents, s414 ,126, $50; redemption fund
with Treasurer of the United States &c.
l16, 100.
'The cash reserve required was S406,-
314, 49,, and the cash held, si66, 326 0S4, or
$50. O0O.0 goo more than the
legal requirement. The total reserve held
Is seen to have been nearly 10 per cent in
excess OF the requirements OF law"