The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-10-16
STATEMENT OF BANK AVERAGES
import Gain in Surplus Il
Shown,

New York. Oct. 1.-THE statement OF
averages Of the clearinghouse banks Of
his city for the week shows: Loans H.
s+.T3, 400. decrease I'll. 1850; deposits 81
.8.g7.W 20. decrease $1:,dss.3 800: circulation
az. 2ss.o DO decrease $4,000; legal tenders
;Is.522,s0, increase $500; specie 81. 7Ys.Go.
increase SE.ao; reserve 1914. 2s7. 800. In
crease S31l. 400; reserve required S2ss. 3o9. AZ,
iecrease 2.00s. $50; surplus 81, s67, So, In
crease $3.50 .g75: ex. United States deposits
~. II. go. increase S.sa2.026
The Ffnancfer his week says: The OIL
eial statement of the New York associated
banks last week was a very encouraging
exhibit Though the cash gain was much
below the estimates, which were based
3pon the traceabie movements Of money
Turing the week. the decrease in deposits
resulting from contraction in loans was
so great as to cause an important gain In
surplrs reserves 1t seems surprising.
when the fact is considered that the esti-
mates showed that the banks had gained
heavily OF cash. chiefly through the re-
ceipts OF Australian and Japanese gold
and OF domestic bullion. amounting togeth-
er TO S,s7s.7sa while the net loss on the
interior ban movement was much more
than offset by a gain by the banks from
the Subtreasury, that The Increase In cash
Is officially reported should ave been only
s1I. 400
Though the Australian gold was not
transferred hither from San Francisco IN
til Thursday. thereby counting for only
about 5000 900 in the averages. the receipts
OF cash from other sources were continuous
and they should naturally have been re-
fiected in the statement. It Is possible,
however, that there were unrecorded losses
OF cash through transfers OF excess In
ternal revenue collections. which would
account for the greater part Il. the dis
crepancy. The deposits were decreased
81. Gs. 800. causing a reduction IN the re-
serve requirements by S,1Gs.5;o, which
sum. adedd to the gain In cash. made S.
, .975 as the increase In surplus reserve
and $5.0S,eJ at the corresponding date in
ls0e.
Computed upon the basis Of deposits. less
those OF S3.eS2.T 100 public funds. the sur
buoyant speculation on the
Stock Exchange and the negotiation OF
large amounts OF railroad mortgages. the
contraction Of S1.gi5-SO in loans may be
as remarkable
1t would seem to show that stock ex-
change requirements did not tend greatly
to augment borrowing by commission
houses and hat liquidation Of loans. as
the result Of the previous weeks unfaror
set new loans for bond negotiations. IT
may be noted that the loan expansion
since August 2 now amount to 8i.s55.SN.
the net cash loss since August 20 to VS.
-3s. 40. and the net reduction in surplus re-
serve since that date TO H2.6oS.3o. The
laily average Of bank clearinRs for che
week was Sc53.oD.GD or 100000 less
than in the previous week. though the
,learinss on SATURDAY rejecting Fridays
business were S2Ii. 1888 or considerably !
,bove the average. Comparisons show
eight banks reduced loans by SfS.0a.- |
oc0. 900: SIX banks gained $4,000 net cash.
two Of these institutions lost to-
zether S4.aO.0o.