The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-08-16
The Bank Statement.


New York. Aug. 15.-The statement
of averages of the clearing house banks
of this city for the week shows:
Loans. S9Os 345. 500; decrease, $4,351.5O0.
Deposits, 5000, 335, 800; decrease, $685.
Circulation, s4s,9SO.sOO; increase, 49,
Legal tenders, s7s,7e6,5Oo; decrease.
SPECIE specie. s17o.s5o.soo; decrease, ST.
Reserve. s247,ss7 400; decrease, s2,257.-
Reserve required. Ss25,S88S25; de-
crease. S2.234.30O.
Surplus, $21.563.575; decrease, $z5'9VV
Elk. L. 5. deposits. SSo,S72,450; de
crease, S3S,15O.
The Financier this week says;
The ppointing features shown by
the official statement Of the New York
associated banks last week were the
decrease instead of the quite confident
~ expected increase in loans. and the
loss in cash reserve instead Of an I'M
portant gain which was fOreshadOwed
by the preliminary estimates, which
were based upon the traceable move
ments of money during the week. An
increase in loans was expected TO be
shown as the natural result of the I'M
pOrtant reversal of the stock market
/ conditions from ANoSe OF tAALtiiit uS
| preston TO buoyancy. 1t is evident
THAT there was very large buying Of
/ securities by capitalists and other spec
ulatOrs who had confidence in the et-
/ fciency of the methods which had been
| taken for relief to the mraket.
| An increase in loans was also eX-
/ pected in part from the extension by
/ banks of accommodation TO embar-
/ raised firms. with the object OF en-
| abling these houses gradually to liquid
ate their Indebtedness. Mercantile Dor
/ rowing through discounts was likewise
! large. The decrease in this item OF
/ loans. however. may have been due 70
/ the fact that the liquidation of loans IN
( the early part of the current bank
week was so large as to more than
I Offset the Increases resulting from the
l changed market conditions above
I noted and therefore the average
[ showed a decrease. The loss instead
I of gain in cash cannot be explained N
{ any other way than that there was an
unreported withdrawal Of money by in
terror banks or by trust companies dur
I ing the week.
The cash reserve decreased S2.25GSOo
/ while the estimates called for an IN
! crease Of 3.442, 200. The loans de
I creased $4.351. 500, which sum, added L
the loss of cash would make S6.609, 3O'
less deposits. This item. however. de
| creased S3,94i .2VO. or 3D. .SVV more lldI
| the tot"I decrease Of loans and o.
( CASH hence the statement did not bal
ance The required reserve was diniin
ished 81, pa 500 through the decrease II
deposits. so. deducting this sum from
the above noted loss OF cash, Leaves
the almost insignificant reduction o
S23. 500 in surplus reserve to 81, .5i7
This slight change in surplus is, there
fore, an offsetting favorable to tn
somewhat adverse influences of IN
other items of the statement. Com
; puted upon the basis Of deposits, les
those of 1925, 500 public funds at tn
surplus reserve. is S30,872, $50.
The loans last week we're S5O1O,SOO Il
excess of deposits. against $424.6O0 Il
the previous week NOtwithstandin
the larger business on the stock ex
/ change. the daily average of ban
clearings was $3.50. 100000, or $lS,000,0O
below the average in the previou
week: the clearings on Saturday re
necting Fridays business were $21i,
S95.606. Comparing changes in loans
rine of the larger banks show ne
gain of 81 500 900: one of these institu
tons increased this item by S3.OOOO0
The changes in specie by several o
{ these banks Indicate a net gain of s.,
200. 600: one institution lost S2.00O000 an
another 81 500 600, while thirty bank
Z gained So 500. 0c0.