The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1903-11-02

ancv between the actual loss. as shown
by the statement and the estimated loss,
may be explained by the operation of the
average system. The movement of money
to St. Louis into Chicago was almost
wholly confined to the early part Of the
week and the average for the three days
would call but for but one-haf of the
O8OO 900 sent to these two cities or
SIS 400 OO0 The movement to New Or
leans was also largest early in the week
and the average would reduce the So. 5O,-
900 forwarded to that center to about
S 500 OoO making the average outgo for
the week $1,000. 900. The average of
shipments to other points would bring
up the total to an amount very closely
corresponding with the loss as Officially
given in the bank returns. The loans
were expanded by $4,000 500 whereas a
decided contraction was looked for This
gain in loans seems to show that The
banks romittlng TO the interior We're not
generally under tho necessity of contract
ing their loans for the purpose of meet
ing these extraordinary requirements
Doubtless part OF the expansion in this
item reflected the replacement Of foreign
loans which had been paid off within the
past fortnight and possibly also some do
decreased 81 OoS Oo0 which amount is
only Sl37. 900 below the sum of the loss
OF cash less the gain in loans. therefore
the statement shows a good balance. The
reserve was reduced GlO24 500 through
the decreased loans and deducting this
amount from the loss of cash leaves
$3.50 300 as the decrease In surplus re-
serve to $40 274,l Computed upon the
basis of deposits, less those of s37, 1866
800 OF public funds. the surplus Is Sl9,
SAB ESQ 1t is noteworthy that the loans
were in excess of the deposits by S25,-
8e 600 the highest record during the
year; this however, simply shows that
In meeting the weeks extraordinary de-
mandS of the banks drew largely upon all
their available resources. which they are
clearly permitted to do. Whenever at
this season or in the sprin. exchange de-
clines in response to increased offerings
Of commercial bills, close observers Of the
market are led 10 look for carly gold i'm
ports Heretofore this year these eX-
pcctatOns have not been realized because
of the presence Of abnormal conditions.
Now however. there seems to be a
strong probability OF such imports. pro-
vded there shall be no important check
to the export movement Of cotton and OF
breadstuffs. and provided also that mon
etarV conditions remain favorable That
such conditions Will continue favorable
for gold imports seems probable. and
though the Bank Of England may seek to
retard the movement of gold hither, it
appears likely that we will soon get some
of the metal from France, Therefore,
even If there shall he q further reduction
of bank reserves through demands for
money for the crops gold imports will
tend to relieve the situation. A fall In
sight exchange OF about 3-4c per pound
sterling will doubtless bring gold from
Europe.
New York. october 3I.-The statement
OF averages of the clearing house banks
OF this city for The week shows the fol-
lowing changes:
Loans Sc sos 500; increase 81. 400 500.
Deposits $685., 8 6 600, decrease 81. oo8,-