The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-03-29
:, STATEMENT OF BANK AVERAGES.
Surplus Reserve shows an Increase Oh
S3,IOO,5OO for the Week.

New York, March 2S.-The statement o,
averages Of the clearinghouse banks Of
this city for the week shows: q. o,s on
Loans 1904 599. 200; decrease, S5.9aS2W-
Deposits. 1894. 5000; decrease. S5i.3,iD-
Circulation. 81 900 500: increase. $37.30V
Legal tenders, SOS. 3si. 400; increase. Sl,e2s'-
Specie, s1ss. 4s1, 500: decrease. 1851. 900.
Reserve S229, S45. 800; increase, Sl.49i,m
Reserve required ST., $500; decrease. ST.
' Surplus, $780, 500: increase. s3.1O9,soo.
Elk United States deposit. sl6,S2s. ioO: IN
crease. S3.0a0.@O.
The official statement of the New York
Associated Banks show notable gain IN
surplus reserves. This more IaVorapIe eA
hibit, however. resulted chiefly from the re
ductiou In reserve requirements against ue-
posits, caused by a further contraction IA IA
loans. though cash unexpectedly increaseo
by q moderate amount. O..
There was a reduction last week OF w.
1880 in loans, making si5, 80 since
February q, when. as previously noted. 1 1iis
item was at the maximum record. me
specie decreased s131. 600 but the legal ten
dcrs were increased 81 .32o,9 800, making inc
net gain in cash 8, 49, oo; instead Oh a loss
able movements of money during the week.
Deposits were decreased S5,424U. MAX ssd
ing reduction since February Il Oh ,, seS,1
nv the decreased deposits last week were
lessened by sl605. 500. which sum added 10
the net gain in cash. as above, MACS &c i an IN
This item. COMPUTED on the basis of all de-
posts. is Sc, 80 800 Calculated on the basis
Of deposits. less sa 70 1s s0 OF puphc iuiia
Ths statement appeared to have been
made on rising averages FOR cash ana me- st
fore the banks were pr SssrD i than was vas
shown by the return. This week the -
100000 appropriation by Congress for the
the credit of the Philippine Government
with its financial agents in this city. ana
this will help to increase the cash reserves
Of the banks in which the money VIII be
One notable feature OF the statement to
which We have previously called attention
Cess st this week Of siosss. 200 loans over de-
posits against si0S65.OO0 in the week end.
ing March q. The detailed statement
largest capital and surplus have total OF
about G0.6OO0 900 of loans In excess of de-
posits. while five banks. equally strong as
regards capital and surplus. have about
sa5 600 900 in deposits in excess OF loans.
II il, Of course, difficult to say whether the
above noted banks showing an excess OF
circulation, which amounts to $2o,Vo,eo0;
their capital Of $33,000,0oO or their surplus
Of sgoooeoo as well as out OF their d a., .
general terms of loans. II the banks do loan
out of these and they have an excess OF
loans over deposits. there is reason why dis
closure of this fact should cause comment.
That these banks do loan out of one or all
these items appears to be evident. All of
the institutions usually maintain the pro-
portion of cash reserve to deposits required
by the national banking law, and II they
shall occasionally fall below this percentage
the fact may be regarded as net Of the
least Importance, and. indeed. during pc
RODS such as the present and at other
times when reserves are necessarily low, 1t
is likely that a slight deficiency will not call
for admonition by the banking department.
So far as clearing house requirements are
concerned. there is no rule of that body de-
manding that Is per cent Of the reserve be
maintained by all banks, though by the un-
portion Of reserve is regarded as desirable.