The Birmingham age-herald., 1903-04-12
BANKS SHOW SMALL
 INCREASE IN CASH Much Larger Gain Was Looked
 for bJ Wall Street CLEARlNGS ALSO SMALL 1t Is Said This Decrease Was Due to NI1.faa %Lz O4aoLx m
CLEARlNGS ALSO SMALL
1t Is Said This Decrease Was Due to Closing the Stock Exchange on Good Friday-ihe Financier
 Discusses the Situation.

New York, April 1.-The Financier thls week says:
 The official statement of the New fork Associated banks last week showed the most notable feature only the sHaA gain of $627, 600 in cash, where some what larger increase was looked 1or' as the result of the traceable movements or money during the week, and also De- cause the sub-treasury operations on Thursday and Friday caused the distri- button of important amounts of cash to the banks. One item dsbursed by the sub-treasury on Thursday was s479,0OO representing a treasury warrant for the payment of advances made by the state of New Jersey to the government in the civil war. Disbursements for the account of transportation of the mails, and also for premiums on refunded bonds, were large on Friday. The bank statement must therefore have been made on ris- ing averages for cash and consequently the banks were in better condition at the end of the week than was shown by the statement. Loans were reduced during the week by s1,2O5,SOO. making SAT, 29.2OO 
 ruary H. Specie increased $S0S, ,500, while legal tenders fell off $1SO, 900, making the net gain of cash S627, 600 as above noted. The deposits decreased $S931, ,5O0 total reduction In this item since February 21 of SIS, ,3sS, 800. The required reserve of 25 per cent cash against deposits was de- creased $9S2, ,S75 which sum added to the gain in cash as above made $l,6l0,41o as the increase in surplus reserve, carrying h lie tenn n a lt s4,171, 750 and at the corresponding date in 1So. it was $7,93S 200.
 Calculated on the basis of deposits, less $57 PIT, 900 of public funds the surplus re- serve Is $13,060,775 The excess of loans over deposits increased $2,726100 last week, and this excess now is $1794S,7OO. The detailed statement of the banks shows that the Seventh National, which has been merged with the Mercantile Ma tional, was dropped from the list last week. The assets of the bank were taken over and added to those of the Mercantile, and therefore the total of these items, as shown by the reports of all the banks, was changed $4,0S7 100, the difference be- tween the increase in cash reported by the Mercantile last week and the cash reported by the Seventh National the previous weeks. Loans of the Mercantile last week showed an increase of $1,SO0,0O0; In the previous week the Seventh h5bl $6,n6,700. The deposits of the Mercantile last week gained $6, OOO,300 those of the Seventh in the previous week were $6, 716,- 700
 One feature of interest shown by the statement was the average daily clearings of the banks last week, which were $19S- 100000, against $26O, O0,0OO in the previous week. This decrease was due to the clos ing of the exchanges on Good Friday.
 The clearings for that day were only $1o3, ,O000Oo, against $251 ,OO0, 900 for the cor responding date in the previous week, showing the volume of the business of the banks with stock and other exchange transactions eliminated