The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-06-28
Increase of s2IS.1SO.13O in the Re
sources Of National Banks
Shown by Report.
THREE BILLION IN DEPOSITS.
Prediction Of StrinGencv in Wall
Street Not Regarded Seriously
by Officials Of the
Treasury.

lfi# - slfI4 ts'ililst wanna itEo.
WASHINGTON. June 2s-unrara!eled IN
crease IT,, the circulation Of national banks
outstard.nr us shown by the statement OF
the conditions Of the national banks under
rlse.la-t call II the Comptroller of the Cur
rencv. completed and published to-day, dis
credits all Wall street apprehensions OF a
stringent money market.
The national bank compilations given out
tr Comptroller R.dgely to-day shows the
condition Of g29 national banks on June g..
-.us. and reveals an increase in total re-
sources, since the same period last year Of
S--S.ls, 1901: an Increase in individual de-
nostts Of sl021I-.131.0l: an increase OF cir
-,,Iatfor outstanding of Si992i.5l0, while the
rercenrase Of LEGAL reserve TO deposits is
21oS.
The excellent showing OF national banks
and ability 10 meet any rush or big de-
fnand for money for Wall street or for
;he annual crou movement IS ascribed by
Treasury officials as due to the successful
onara-ion Of Secretary Shaw's refunding
policy
A. compared with the last national bank
statement Of a-r.l 9. 1903. the percentage
of legal reserve to deposits has also in
creased. although still below the 25-per-cent
requisite If the ilW,
increase n F.FcIi4Ipu anu leSpl-Ee
cannot be accredited PARTICULARS TO any
section Of the country. although the West
t,.u and Middle Western States contribute
more t..4a their pro rata share TO the IN
crease.
According to tho compilation given out by
COMPTROLLER Of tho Currency RidSely to-
day. iuliyidu&! deposits have also scored a
reeogd-bre king increase since the last ma
JonaI bank statement. showing on the last
call a round sum OF s3,2io e93 5o9. %. or an
increase OF SS2,1S.2iS.5i since April ., 1893.
The comparison of bank statements for
June .. 1879, with those OF April 9. 1856 and
July &c. 1902. serves as an excellent index TO
the continued material prosperity of the
country. despite all fluctuations In Wall
street. The rate at which the resources are
increasing also gives ground for gratitica-
tou Mt the Treasury Department.
y lille there 5 total increase since last
July Of nearly $3.50 600 go. there is an in
crease Of sI:it2.Glf..2 for the period between
April and June Of the present year. Since
the april showing loans ard discounts in
creased Sll.sG5. lS2. %. and now show a total
OF $2.4lj,et5.-5lDl The combined banks have
among their resources United States bonds
to secure circulation TO the amount OF sos
!L%e, United States bonds to secure
United States deposits Sl35 SIS SO and in
sio Is and securities SD, a2S, I1.21. The cap
ital stock paid IN by the i.9Ss banks re-
PORTING amounts to SI+3 90 04s; the surplus
standing S35g2Il69.
II tha present movement of the national
banks continue there will he little necessity
for legislation at the coming session 10 Sc
c.lre n greater elasticity of national bank
issues. as advocated by Comptroller Ridge
y IN his recent address before the Georgia
bankers.
Is the fiscal year draws to 4 close It be-
cones more apparent that additional tax
reduction legislation will be warranted.
In his last report 70 Congress the Sscre-
tary Of the Treasury estimates the total re-
ceirts for the current fiscal year. exclusive
of revenues from the postal service, at $751;,
fenslu and total expenditure for the fiscal
year of S5l9 o0o0, leaving surplus of Si3,
u0.U,1 With the fiscal year near its close
= is safe to state that the expenditures Will
fan beneath the estimate of the Secretary
Of the Treasury and that there will be
surplus Of over $50 0'pN00. This will give the
advocates of tax revision more eloquent ar
rumcnt for reform.