The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-15
The Bank Statement.

New York. Nov. 1.-THE statement or
averages Of the clearing house banks of
this city for the week shows:
Loans. $SS9,S55,O0O; decrease, S1O,24O,-
500.
Deposits, sS5s,415,1OO; decrease, sl4.-
629 500.
Circulation, Si5,sS8,OoO; increase, S1o5,-
Legal tenders. 500. 1850, 400; increase,
$50 900.
Specie. s15s,44lSoo; decrease, s2.994.-
100
Reserve. s21s. 492, 200; decrease. $291s.-
Reserve required. S213,S us; de
crease, SO, 657, 400.
Surplus. S6,13S 425: increase. S744 200
Ex-United States deposits, SIS ,36S $50;
increase, $679, O75.
The Financier this week says. The
striking feature Of the official state
ment of the New York associated
banks last week was the decrease Of
SlO,24O,500 in loans following a TeduC-
ton of $11,413,0OO in the previous week.
making the total decrease for the fort
night 81, 653, 500. The reduction last
week was probably due to liquidation
Of speculative accounts on the stock
exchange, and also to some contraction
Of loan accounts because of the COM
parative low condition of bank reserves.
Notwithstanding the drain of money to
the south and west for crop purposes.
tt may be noted that the total loans
are now only SIS S72. 800 above the min
imum Of the year, which was recorded
on Jan 10. The banks lost 81. 9I3. 200 net
cash during the week, which amount is
Sl,3l290O below the sum which was es-
timated upon the basis Of the traceable
movements of money. This compare
lively slight discrepancy, however, may
easily be accounted for by the opera
tions Of the average system.
The deposits were decreased $14.629.
600. an amount $1475,9OO greater than
the sum of the loss of cash and with
the reduction in loans; hence the state
ment fails to balance The required
reserve was diminished s., 657 500
through the decreased deposits. and de-
Quoting from this amount the loss of
cash leaves $744.200 as the increase in
surplus reserve which now is S613S.425,
calculated upon the basis of deposits
less those Of S36,921, 700 the surplus is
$l5,36S.S50 The loans are i'm excess Of
the deposits by S36. 439, 900, against S32.-
O50,800 in the previous week indicating
that the banks are employing to the
fullest extent their available loans re-
sources, including capital 1t may also
be interesting to note that the cash
holdings of the banks. and likewise
their deposits. are the minimum of the
year, the former being 81. 913 200 and the
latter $14,629, 800 smaller than the
amounts previously recorded. Circula-
ton shows the slight increase of $1O5,-
500 during the week The statement
was undoubtedly made on rising aver
ages for cash.
The $4,000 gold which arrived from
London and the S345.5OO which was re-
ceived from cuba on Tuesday. was only
partly paid for at the assay office. as is
usual with imports requiring assay and
the S95O,OOO gold which arrived on Fri
day came too late 60 be made available
by the imports, these respective
amounts should be accounted for in the
current weeks statement The changes
in the item of loans show that five
banks had a total decrease of SO, 200 900,
and that one of these institutions made
reduction Of 5000 900. The changes
in specie show a net loss by six banks
or SO, 100000.