The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-26
Local Financial Gossip;
Bankers and Brokers' Talk

This is the first time that an insurance company
has made report on this basis. and the rule
has been adopted because OF the fluctusting
character of all securities during the vast year.
The The new paid-for business is 1926 ooo, OOo-an
business Of 1902. The total paid-for insurance in
force exceeds the enormous amount of 81 745 OO0-
The gain in income over 1902 was s. 600 os The
policy reserves increased So 600 900 and the
increase in dividends of Sl.sOO.OOO in the year
Receipts OF currency from the interior at New
York have broken all records this year. No rec
ords OF this movement are kept at Chicago and
St Louis. the two other central reserve cities
but it is reported that currency is accommodating
in the banks OF those cities faster than ever be-
fore This means that the currency which was
in active circulation during the period OF the
crop movement last year is rapidly returning
to the country banks is being sent by them
10 the banks lin reserve cities and by the latter
TO their correspondents in the central reserve
cities This movement OF currency into banks
always occurs during the winter months. when
there is nothing doing on the farms. when the
winter trade is over. and there is halt in bust
trade There are several reasons why currencv
should be deposited in banks now in larger vol
ume than ever before. T.ere is more money
I'm circulation. on Jan. i. 1901 the per capita
circulation was $50 81. comparing with 81. g on
The actual increase in amount is SlI7 ga 900 'rhe
population Of the United states was estimated
IN Jan. L. 1904 at Sl.111.G00. comparing with
- 900 Jan. 1. 1893 an Increase of ISIS. 90
Eacn one OF toe Lew population had 10 be
supplied with SO - theoretically. before there
lation- There also more banks in the
country than ever beftFe. and the establishment
OF new banks in the ~ raj districts has TO a yeiy
great extent superseded the stockholdIng and
other domestic receipts cies for the safe keeping
or cash and has 0plarized the use OF checks
IN paFIents.-Na street Journal
TIE movements OF currency into and out Of
the New York banks during the calendar year
1909 amounted to s. s55.O57 900 and resulted in
a ne, gain by the banks of sJs 3S2 700 They re-
ceived the interior s293 ~ 700 and sent to
the interior soc 80 500 The total interior move
ment both ways was sise. 5.c00. or - % per
cent OF the entire volume or money i'm crcula-
ton. The gain from the interior was SS7 i22 100
Receipts 0l new gold on assay Office checks and
BY importation were S4. sJ3 100. gold exports
were sc. 80. 0oo. the gain the gold movement
was $50 43 l0J The subtreasury paid "a. 33i 400
in redemption OF the per cent bonds OF 1904
Other disbursements b. the subtreasurv we're
1898 80 100: payments By the banks to the sub
treasury Tor customs. internal revenue. per
cent fund. retirement OF circulation etc we're
ST. O59 437 0e0 the loss on subtreasury operat tons
proper $aJ.526.9t0. TIE total movements js
the largest ever reported Notwithstanding the
unusual shipments OF currency for the relief
OF financial institutions In Baltimore ST Louis
the gain from the interior SIS. AXIS 500
/ more than i'm ls0s, and S. 466 40 more than i'm
1901 The receipts from the interior exceeded the
shipments the interior In every week but one
were remarkably large IN June. on account OF
subscriptions 10 the new stock OF the pennsyl-
vanio Railroad Company The bank statement
q, 1902. to Jan. 2, 1904 OF sOis 600 This Is
SIS 49, 700 less than the gain indicated by the re-
ported movements OF money.