The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-08-25

1877
Circulation, decrease ......... 3l.4o0
Legal tenders, decrease ...-.......... COG. 200
opecle, increase l,Zl5.5O
reserves increase :......----..-... 606.30
Reserves required, increase ......... $50. 100
SURPLUS decrease .....-.............. z15,NO
The banks now hold SIS. 14s. 100 in excess OF
reserve requirements under the 25 per cent.
rule.
NEW YORK. Aug. 24.-The Financier
says: The cash returns of the New York
associated banks last week was largely
affected by what may be characterized as
extraordinary movements, not only through
subtreasury operations. but through the
interior transfers Of money. Early In the
week the subtreasury paid 1901 600, and
later s450.00. for assay office checks repre-
senting Australian and Yukon gold. which
had been deposited at Pacific coast assay
offices. Disbursements for pensions were
large, amounting TO 5000 900. and bond pay
ments were z 1851. These various items
made a total Of 81. 119, sol. The extraordinary
receipts by the subtreasury were 81. l0O. 600.
which amount was deposited by the in
terior-sSOo.O 600 TO New Orleans and $500. 600
to Chicago. Deducting these receipts from
the disbursements, as above. leaves s., OS9,-
sol. 1t should be noted. however. that the
payments for Australian gold probably
counted in the bank averages for only
lOuI udJSs viii the ItCtlDlS lfOm inc
banks for transfers to the interior counted
for but two days of the week. The net
ordinary operations OF the subtreasury
were, owing TO large customs and inter-
nal revenue receipts, sufficient 10 counter
balance the net extraordinary disburse-
ments as above, causing the banks 10 lose
on subtreasury accounts sl62. 600. The in
terror movement of money. so far as was
traceable, resulted I'm a gain to the banks
of 81, 245. ia. and. ~deducting the loss 20 tho
treasury of Si62, 900. as above. there was an
"A mn rent Qafn i'm the uynnEfc IS q
sl.0S.00. Toward the end OF the week.
however. there was an urgent demand
for Philadelphia funds. which caused the
shipment TO that. city of various mounts
of currency, variously estimated at from
81. 500. COO to 100000. II either OF these sums
of money was sent TO Philadelphia. IL
weeks movements was wiped out. II could
be observed, however. that the cash sent
TO Philadelphia VIII doubtless be promptly
returned when payment should have been
made on bonds for which the money was
requested. The loans of the banks were
increased by $3,O27, 100. which sum may be
regarded as fair, considering the dispose
ton of bank managers generally TO curtail
discounts as much as possible. in view
Of the tendency of the demand for money
for the crop movement. The deposits were
augmented 1880. 400. which very closely
corresponded with the total Of the gain In
loans and I'm cash: hence the statement
was harmonious in this respect. The sur
plus reserve was reduced by the compara-
lively small amount OF x2l3.S00 to Sls.lfs. 100.
Borrowers need. IL would seem, be under
no apprehension regarding the supply OF
money for all legitimate objects. though
doubtless lenders will seek TO convey the
impression that, because the inquiry for
crop purposes has apparently begun. rates
for loanablc funds should rule higher. ON
Monday OF the current week the treasury
will receive 81. 000.Oo 4 per cent bonds. the
delivery Of which has been contracted for.
and probably there Will be considerable
sums of money paid during the week on
assay office certificates. representing Yukon
gold deposited AZ San Francisco