The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-01
THE BANK STATEMENT.

New York, Oct. S1-The statement OF
average of the clearing house banks
Of this city for the week shows:
Loans, 1911 sos, 500; increase, 81, 4O9, 500.
Deposits. 1856, SIG, 500; decrease, a.
ESQ 500
Circulation, s45,S9s.sOO; increase. ss1.-
Legal tenders, sss,994,5oo; decrease,
Specie, ls4,s88, 500; decrease, slo22,-
500
Reserve, 1921. s7S.sOO; decrease. $685.
500
Reserve required. s221.4O415o; de-
surplus, Sio,974,l5O; decrease. $3.50
500
Elk. L. s. deposits. SIS, sos, $50; de-
The Financier says: Unusual inter
est was manifested on Saturday in the
disclosures of the official statement Of
the New York associated banks because
of the record breaking Withdrawals
from those institutions of money
through treasury transfer and also by
direct shipments TO st. Louis, Chicago
and New Orleans. these amounting, rs
estimated from the traceable move
ments during the week, to 49, $50 900.
The statement showed, however, a de-
crease Of but IS, 694. 500 cash. while the
estimates indicated a net loss on all
movements of SIS, $40, 600. The discrep-
ancy 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 and to Chicago
was almost entirely confined to the ear
" part of the week and the average for
the three days would call for but one
half of the S10.SOO 900 sent to these two
cities. or $500 900.
-
also largest early in the week and the
average would reduce this SO, $50 600 for
warded to that center 10 about 81, 500, 600,
making the average OutgO for the week
100000. The average OF shipments to
other points would bring up the total
20 an amount very closely correspond
ing with the loss as officially given in
the bank return The loans We're ex-
panded by S4,409, 500, whereas a decided
contraction was-lOOked for.
This gain in loans seems to show
that the banks renting to the in
terror were not generally under the
necessity of contracting their loans for
the purpose of meeting these extra
ordinary requirements. Doubtless part
OF the expansion in this item reflected
the replacement Of foreign loans which
had been paid off within the past fort
night, and possibly also some dOmes-
creased 81, O9S. 900, which is only S1s7. 300
below the sum Of the loss Of cash
less the gain in loans, therefore the
statement shows good balance. The
required reserve was reduced 81 ,024,5
through the decreased loans and de-
Quoting this amount from the loss OF
cash leaves $3.50 800 as the decrease
IN surplus reserve to $1027A150. Com
pUted on the basis OF deposits, less
those OF S37,156,S00 OF public funds, the
surplus is S19, 543, 250. It is noteworthy
that the loans were in excess Of the
deposits by S25,S91 ,900-the highest re-
corded during the year. This, how
ever, simply shows that in meeting the
weeks extraordinary demands the
banks drew largely upon ali their
available resources, which they are
clearly permitted to do. Comparisons
of the estimates of loans OF individual
banks show that there was a net de-
crease by four Of The largest institu-
tions of 50. 400. 600. In the item of cash
the net decrease by six banks was So
GOO.