The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-12

banks of New York lost 50 So, 625~ surp us
reserve last week, bringing the pres Mt
20 tolaI excess down to &,127475 The loss
~ TWO weeks amounts to s., 632 300 most
OF winch Went to the treasury The in
crease IN loans was $7266, $780, which. in
HEIIew OF the conditions prevailing siace
MONDAY, does not seem to agree with
what is known to have occurred duTint5
iIat period The enormous liquidation in
loans which took place as a result Of
i ine STOCK panic, coming as it did at the
Iatter end of the week, is probably NOS
renected in the statement of ayera ges
ana 1t IS fair to infer that the loan item
ana Slnd II necessarily the total deposits are
Una Ii.,Ia 1et tnan represented. This being
tIue, the reserve requirements of the
BANKS are leSSened, and the condition of
the institutions from cash standnOinT
- netler imam represented in the state
HieHt. J. he weekly exhibit cannot be re-
Garced as unfaVorable of itself but il is
apparent that there is nothing in the
situalioh TO warrant expectations Of any,
thlng but firmness in rates The furry
on the stock exchange certainly caused
heaVy shipments of currency to this cen
ter, Doth ny institutions and by onera-
IufS whose accounts had been weakened.
II is also true that q great deal Of in
vestment buying from outside sources
mas peen going on. These influences do
not snow in the current exhibit. The
export or small amount of gold during
the week, IL the face of money "a 90
far above the normal. created some CO..,
ment, but it is explained that this was
on q previous order. To what extent
me International exchange situation Eas
Deen aHected over the last week Gamer
be stated accurately, but it will not pa
strange II some UNEXPECTED features an
pear pear, rs a result of the causes already
an 10; me ofr1ctal statements OF
the New York city national banks. as
made last week, show that they have
lost $lO,tOJte0 in cash since the previous
can In FEBRUARY, while deposits have
contracted about 100000 and Amer1-
cans nave remained almost stationary. In
other words, their reserve is lower than
at the beginning of February. If ia
significant that Of the loss in deposits,
the greater part can be traced to the
Withdrawals of interior institutions AI5y
mantenance Of firm rates here however.
Will attract funds to this center.
FOREIGN FINANCTAI-London, Nav
IL; L.; money was abundant today, partly
| owing to the bill brokers' in6ispositio1
to do business. Fixtures over NAV II.
however, were in strong request Dis
counts We're hrm and were strengthened
hy the quotations at which the treasury
blI!s were taken, together with the posi-
bility Of the withdrawal of American
capital from here as the result of losses
in the United States
Business on the stock exchange was
more cheerful in consequences of The I'M
proNement in Americans Operators
were hopeful that the worst of the crisis
was over. Though The fears regarding
the settlement We're rot past, they were
somewhat allaved by the belief that the
difficulties would not equal previous ex,
| pectations. 1t is-thought in some quar-
ters that very small account win be
earned over, owing to the forced closfng
Of the past few days. Americans flu,
tuated considerably, closing weaker. No
further changes are expected before the
! making up of prices fixed for MOnJav
I ct noon The settlement of mines. thovgi
in some Instances, difficult to arrange
vas satisfactorily accomplished