The Birmingham age-herald., 1903-04-13
BANKS SHOW SMALL INCREASE IN CASH Much Larger Gain Was Looked
 for bJ Wall Street CLEARINGS ALSO SMALL 1t Is Said This Decrease Was Due to Closing the Stock Exchange on
 Good Frlday--fhe Flnaneler
 Discusses the situation.
CLEARINGS ALSO SMALL

New York, April 1.-The Financier thls week says:
 The official statement of the New York Associated hanks last week showed the most notable feature only the small gain of $627. 500 in cash, where some what larger increase was looked Tor as the result of the traceable movements or money during the week, and also be- cause the sub-treasury operations on thursday and Friday caused the distri- button of important amounts of cash to inc banks One item disbursed by the sub-treasury on Thursday was $479,OOO' 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 rls- 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 $12O5,SO0 making s4hDS'zOO since the maximum was reached on Feb ruary H Specie increased $S0S,5OO, while legal tenders fell off $1S0,9OO making the net gain of cash S627,600 as above noted. The deposits decreased $3,9S1, ,50O, total reduction in this item since Feoruary 21 of SIS, ,3SS 800. The required reserve or 25 per cent cash against deposits was de- creased $9S2, ,S75, which sum added to the gain in cash as above made 1,6lO,470 as the increase in surplus reserve carrying this item to 4,0D0; a year ago IL was S4171, ,750 and at the corresponding date in 1s.4 it was $7,93S 200.
 Calculated on the basis of deposits, less s57,277. 300 of public funds. the surplus re- serve is S13,O6O, ,775. The excess of loans over deposits increased $2,726,1O0 last week, and this excess now is $1794S TOO. 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,SO0,0 GOO; in the previous week the Seventh habl $6,716,7 700. The deposits of the Mercantile last week gained s6.000.3OO, 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, . 0O0,0O0, against s26o 100000 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 $103 100000, against $251, ,000, 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.