The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-16
weekly Bank Statement.

New York. June t5.-The statement
Of the associated banks fer the week
ending today shows:
Loans, S90o,S43,90o increased, 3d.
34f 500.
Deposits, s998,194. aOo;a increased, s12,-
Circulation, 8o.9o4 400: increased. s29.-
legal tenders, s7ze75soo; Increased.
specie, $17z15a4oO; decreased. 1885,
deserves, s254Sao.7 200; decreased, st.-
reserve required. s24s,O48,575; in
Surplus. $S,S72,i25: decrease. 1850
New York, June 1.-THE Financier
says: Large syndicate operations are
reflected in the New York bank state
meut of June Is. The excess reserve
was again heavily decreased and
stands at SS.7S2, 125. compared with
S21. ESQ 900 on May %. a loss of over
S12, 000,0 600 in three weeks In this pc
riOd the loans of the banks have risen
not less than S42 900, 600 and deposits
/ $f4, 900, 600, while the amount Of the
than on the former date.
1t appears therefore that the banks
are not losing much particularly, but
that the increased liabilities are tying
Uu 81 large amount OF OLnEI " lsE l4lG
money in the former reserved against
deposits. This is worthy of mention
only in the sense that the large Oper-
atoms noted are of q more or less
temporary character and their con-
summation may set free quite an
/ amount of available funds in the near
future. The July dividend period IS
! largely being arranged for and may
! exert an influence in the market sOOn-
The particular features which are
/ shown in the current statement are
/ traceable to the Pennsylvania steel
/ purchase and kindred pending deals
/ and the loss of $1,50O,000 in cash IS due
| to movements Of money in the direc-
/ ton Of Philadelphia, which were heavy
/ during the bank week and to opera
/ tiOns with the sub-treasury at New
/ York As a matter of fact, the ma
4 jOrity Of the banks did not participate
/ as factors in the changes noted. the
! bulk Of the increases in loans and de-
I pOsits having been reported by two
( large Institutions which were con-
] cerned in special operations.
While, however, tAe declining reserve
/ is thus easily explained. il can not be
4 denied that the effect will be shown in
some firmnesS of rates, as was lndl-
1 Gated ut the close of the week This
I does not mean long continuance OF
! harder conditions, but with the sur
/ plus reserve reduced half in two weeks,
/ il is not surprising that a firmer ten
! dency is shown. Loans are still about
1 SIS. 600 OOO under the maximum figures
! reached March last and deposits are
/ SIS. 600, coo less, but the excess reserve
at the present time is S2.0O00oO less
J than at the period Of record breaking
! .7epOsit and loan totals, so that a con-
[ uinued expansion seems impossible IN
! less money moves to this center in
! heavier volume.
But. as pointed out, this is no reason
/ to expect a continuance of heavy in
| creases in any Of the items. A small
Z amount of gold was taken for export
/ during the week. This does not figure
| i'm the current statement. 1t is eX-
I pected that as the first of July draws
! near these shipments VIII increase IT
/ pected that as the LIST of July draws
/ ments. Rates are higher at Berlin
/ than elsewhere and the exports i
any. viii probably be to that center.