The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1902-09-08
Comment on Bank Statement.

New \ DIX, September 6.-Ihe New DIX
Fmancicr this week says:
The noteworthy feature of the official
statement of the New York associated
banks last week was the reduction OF
So,6i5,725 in the surplus reserve. carrying
this item TO $io9,.050. the lowest since
March H. when the surplus was 81, ll2,JVJ.
The loans were decreased $3,66o, 200, MAX
ing 81, 1920 in three weeks. Ihe specie
fell 5,633 200 and the legal tenders $Z@62,-
COO total reduction OF $S,l95.S00 in cash.
making the loss in this item since Au-
gust . inclusive 500. 100. The statement
August - failed to reflect the loss Of
casn. as estimated from the traceable
movements OF money by S2.6S9.2OJ Last
weeks statement showed a greater de
crease OF cash by $l,0lf,-G0 than was esd
mated on the basis of these movements.
The average for the two weeks there
tore seems 10 show that the estima ties
We're very nearly correct, the Official
statement showing an average loss 81
So,93- loo, while the estimates show an
average loss of S63lN, 100. The deposits
We're reduced by Sl260O%W. which is only
$l59,30 greater than the amount called
for by the total decrease in loans and the
loss in cash, hence the statement Is not
far from proving. me required reserve
was decreased $5l50.0i1, which sum. de-
Quoted from the loss of cash, leaves
81 49, $50 as the Surplus reserve. The circu-
lation was increased by $4,000, making
a total gain since August 10 of Sl,UGi 500,
which WAS distributed among eight Of the
large banks We're only moderate. There
week averaged 21S,Oao.0O0 or S50.0Dv. 0UU
more than IN the previous week -Four
OF the WAN street institutions show a de-
crease OF S. 800 900: the increases by other
large banks was only moderate There
does not appear TO have been any very
important contTactiOns of loans by IN
stiIutions. The loss in specie by seven
banks was 5000 UUU and two institutions
show decrease of s. $40 900. one loo 30
and the other 81 3loO00. Though the state
ment appears quite unfavorable, chiefly
because Of the reduction of the surplus,
the condition OF the banks probably was
better as regards cash than was in
Dictated. The contraction i'm loans which
has happened during the last three weeks
probably has reached the maximum, and
there will most likely ne comparatively
small changes in this item IN the near
future. II the low condition of the bank
reserves shall have the effect Of restrain
ing speculation il viii serve good pur-
pose. Should money grow more active in
the current week as the result of these
low reserves, exchange VIII most likely
decline, thus giving some assurance OF
imports of gold from Europe and the high
liberal negotiation of sterling loaRs.
Taking "A conservative view 0f the sitUa-
ton. there seems TO be nothing in 4
which need give borrowers having good
securities any concern.
New York September 6.-The statement
of Tie associated banks for the week five
days. ending today shows.
Loans. S906, 1911. N6O: decrease. s.. SIS 300.
Deposits. 1913 .S9S. 20O, decrease. 81. 100. 5P.
Circulat ton. 3,j63, 00h, increase. $4,000
Legal tenders, $1S,552,S 500: decrease.
s. 962. coo.
Specie. Si6l 49,. 500: decrease. S. So. 200.
Reserve. $23L9l6. 500. decrease, s.. 195. 500.
Reserve required. $23o,Si9,55o; decrease,
$lffil.5 so.
Surplus. $io9'.o5o; decrease, s5.6i5.725.