The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-09-14
The Rank Statement.


statement of averages Of the ASSOCIATE
ed banks shows;
Loans, $500, 4sS, 900; decrease, s6.s75. 800.
Deposits. sos. 76s. 800; decrease, $l4.-
62S, 800.
Circulation. ss4.2S7.5 increase.
S702, 800.
Legal tenders. s7s.lss,lOO; decrease,
81. 220, 700.
Specie. s155,775.sOO decrease. $685.
500.
Reserve. E227, sO7, 400; decrease. $685.
200.
Reserve required, s227.1s2,s25; de-
crease, $685., 225.
Surplus. s7l6O75; decrease. $S,Ss1, s75.
The New York Financier says: The
most notable fact disclosed by the Of
fetal statement by the New York as
ISOLATED banks last week was that
though the surplus of rs per cent of
cash deposits OF all the banks, in
Guiding state and national. was not
entirely wiped out. there remains a
surplus reserve of only $7l5,075, the
smallest since Nov. IS, 1893, when there
was a deficiency in the reserve OF $3l2,-
02S. The specie decreased $5.S1S.500 and
the legal tenders 81, 220, 700, making the
total loss Of cash S7,OS9,20O; the esti-
mated loss. based upon the traceable
movements of money during the week
was 81, 362, 100. This decrease of cash
appears TO have been wholly due TO
the sub-treasury fiscal operations.
which absorbed from the banks 81. $685.
100. 1t is noteworthy in this connec-
ton that since the week ending Aug.
%, the sub treasury operations have
resulted in a drain from the banks of
1881, 900, while the net loss to these
institutions on the interpank move
ment in this interval has been $685.
100, and the transfers through the sub
treasury of subsidiary coin alone
have been S2.6ss, 800. making a total of
the outward movement 10 the country
banks directly and through transfers,
50. COS. 200, or SS,S03, 200 less than the
amount taken out of the New York
banks through sub-treasury operations.
In other words, these absorptions for
/ four weeks have been nearly so per
cent larger than the traceable move
ments to the interior.
Still another striking fact is that the
losses to the banks on the interior
movement of So, sos, 700 as above, have
! been offset by $685. 800 by receipts of
/ new gold represented by assay office
checks against domestic and Yukon
/ gold deposited at various points. which
/ checks have been cashed in this city.
/ The loans were counteracted last week
/ by S6S75. 800. making the contraction
since Aug. 16, S29, 100000. The deposits
| fell off S14,62S, 800, a decrease since Aug.
| 16 of 50. 500, 600 The decrease in de-
posits last week was $3.50 greater
than the amount called for by the total
/ of cash and the reduction of loans,
hence the statement very nearly har-
moniZes-
| The required reserve was lessened
| 1885,. 229 through the decreases in de-
/ posits, which sum. deducted from the
loss of cash, leaves $S,3S1,975 as the
a mount of the reduction in reserve.
/ Inc surplus now stands at $7l5,075
| against s7.110.550 at the corresponding
| date a year ago. and $20.SS6.170 on
Sept. IS. 1900. The circulation was in
creased last week 500, 800, making a
gain since Aug. of 81. 387. 300, distrib-
! uted among the larger banks. The
average daily clearings Of the institu-
| tons were $277 10000 against t27S, 000,-
/ 600 in the previous week. Nine of the
| larger banks showed a net contraction
/ of $1,000, 900 in loans of which number
one reduced this item by $1,000, 900; one
by Sl-700,0O0, one by Sl,3OOO00 and one
| by S1,000,00o.
The net loss of specie by seven
/ banks was $500, 600, of which amount
one bank lost s.. 100 600, one 81. TOO. DOC
and another $780, 600. The low re-
serves of the banks will most likely in
| crease the monetary tension during the
current week to such extent as pos
| sibly TO cause even higher rates for
money to rule than those OF last week
| These high rates will, however, nat
urally Offset foreign exchange, caus-
| ing a fall to points which will permit
| imports of gold from Paris and, per-
/ haps, from London.
! Inasmuch as the secretary of the
treasury already has in contemplation
an increase of deposits Of public funds
| in the bank he will most likely de-
eide that the time has arrived when
this form of relief 10 the situation
may properly be extended. With the
arrival early next week Of part Of the
| gold now in transit from Australia
with imports of gold from Europe
which Will be stimulated by the none
tary conditions, and with the relief
which the secretary of the treasury
will probably afford. the existing ten
sion will most likely be speedily re-
lieved.