The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-08-28
STATEMENT OF BANK AVERAGES.
Deposits Decrease s2.267. 700, While
Loans Contract.

New York, Aug. 27.-The statement OF
averages of the clearinghouse banks Of
| this city for the week shows: Loans H.
Ues, 81, 20 decrease Sill. 40; deposits $l.M.-
800. 90, decrease s.. 2s7. 100: circulation S7,-
ia, 40, increase slo9. 30 legal tenders $751;
60. 2O0. decrease s2Os $40; specie s2Ii,67s.sO,
decrease 81. eeo.s 900: reserve 1859 .al.1oe. de-
| crease s.. sO4. 600: reserve required <sol,S2b,-
40, decrease S5fS. 925: surplus $51.3io.+p. de-
crease &1,237 ,615; OK. United states deposits
S3 49, SO, decrease $1,2JS.OO.
The Financier this week says: The Tea
ture Of the official statement of the New
York associated banks last week was its
| failure fully TO reflect the Withdrawals of
| gold for shipment abroad and OF currency
Tor transfer to the interior. the statement
showing a net decrease OF sl.SA,ov casn.
whereas the traCeable movement OF money
during the week indicated a loss OF H.
s72, 100.
The discrepancy Of 3 Loss. 100 between the
estimated and the recorded loss OF cash
| may in part be explained by the fact that
the averages OF the week ~traceabie with
drawals amounted 10 100000, including
those on SATURDAY. August ~ and on me
there was shown a wide d screpancy ana,
moreover. direct shipments TO the inte-
rior were not fully accounted FOR: there
fore. 1t appears clear that the statement,
SO far as regards cash, was made up on
declining averages.
Deposits decreased s2,267,1c. while the
sun OF the GOItF3CIlOI u lOdiS hiiu LUG
.oss Of cash was 81. OG5, go less than the
decrease of deposits: hence. the statement
did not prove.
The required reserve was reduced $685.
as5 through the decreased deposits, de-
Quoting which sum from the loss in cash
left 1881, SIS as the decrease in surplus
reserve to ST. 5000 Computed upon the
basis OF deposits, less those OF $3,3II,SU
public funds. the surplus Is $6S,2ls.SO. II
goes without saying that the statement
was a disappointment TO the majority OF
the banks, the managers Of which had.
during the week. observed with much sat
isfaction the Withdrawals OF. money. hop
Ing that the statement would SO far re-
fleet this movement in the surplus as to
denote the beginning Of the end of the
monetary congestion at this center. But
the surplus Is still so large that II
seemed Improbable that unless there shall
be extraordinary withdrawals In the near
future. there Will be little relief from con-
gestion for some time.
Still, advices from the Western centers
note large shipments Of mone to the
suit of high prices for wheat and cotton,
these commodities shall be freely mar !
keted, later Withdrawals hence of money
may be unusually heavy for the begin !
ming Of the season. There is, therefore. |
a fair prospect for the continuance Of
the decline OF money from New York in
increasing volume.
The loans were contracted last week by |
the almost insignificant amount of I'll:
ee. which seems to indicate that new |
contracts nearly Offset cancellations, on
account Of current liquidations: The daily
average Of bank clearinss during the
than In the previous week. Clearings on
Saturday. however. rejecting Fridays |
business, were SIS 3s. i05. or much above
the average. Comparisons show that
net: Ave Tanks decreased cash by 100000
net. ]