The St. Louis Republic., 1904-05-22
STATEMENT OF BANK AVERAGES.
Notable Feature of the Week Was
the LnrEc LiuuidRfIOn.

New York, May I--The statement OF
averages OF tho clearinghouse banks OF
this city for the week shows: Loans,
s.6s.5s5.5o decrease 81 S75. 100; deposits,
81. 100 90. .loo decrease Sc 0ie. 80: circulation
S9,is1.+". increase si7o.ito; legal tenders.
sis,li3.cpJ; increase si.ci54tr; specie, sal0,-
oJss't. decrease &.ial.IDt; reserve. u.s.
siS.su. decrease S,cs5e.c: reserve required,
s-.1,Iil,525, decrease S.e62.S25. surplus sl3.-
pS.2'S. increase S1.CeS: ex-UniIed States
deposits. sls.ni.625. decrease N.3lo.s25.
New York. May 1.-THE Financier this
week says: The most notable feature of
the official statement OF the New York
associated banks last week was the large
liquidation-lndeed. the greatest for the
loss of cash. caused such a reduction in
the general deposits, and. consequently, in
the reserve requirements. as TO brhIg about
small increase in the surplus reserve
frc loans decreased s--.5.S. t1, probably
the result OF the cancellation OF loans OF
Government dt posits and also the repay
ment OF some OF the recent syndicate bor
rowinSs. The holdings OF public funds
were reduced S6.US. 10 during the week
mt King the reduction in the fortnight So
Si.pl This. II may be noted. is some
what in excess Of the amount Of the sur
renders TO the treasury Of the funds which
were accumulated in the special deposit
tories preparatory to the Panama pay
u'Cnt. the excess representing SURE nderS
nnder the second call of the Treasurer for
public deposits. The cash holdings of the
banks decreased S1.'SS.SD net. rejecting
withdrawn for export TO Europe during
the bank week.
The aycruE- gain resulting from the pay
msnt on Friday Of the S.Nu..'sJ Treasury
warrant IN the fiscal agents Of the Repu6-
lie uf Panama WAS ~ comparatively small
IL counting FOR only about SSofso. as to
have little influence except that Il caused
the cash item 10 be made up on rising
averages. General deposits decreased So
Gi9.3pr which amount = Siii.iv less than
tn. sum Of the decrease In loans. and of
the net loss Of cash. therefore. the stIts-
ment shows goOI balance The required
reserve Of = Der cent of general deposits
decreased s.. -. .31j. deducting from which
the net loss OF cash left $lIIO25 as the in
crease in surplus reserve To- Sl3,abi 2.5.
Computed upon the basis OF deposits less
those Of so of public funds. the sur
plus is Sig 5ii.6a5
The daily average of hank clearings
during the week was Se10t0c0 or s. TOO
80 greater than in the previous week
The clearings on Saturday TeiisCtin. Fri
days business were SiaI.s5g l09 or below
the weekly average. The indications seem
To point to the speedy ending of gold ex-
p"rts on panama account, IL being esti-
mated that about 1900 90 OF this money
has been transferred
The reduction in the rates Of eN-
change Will prevent the profitable
export OF the metal for other purposes
and. therefore, the decline Of gold from
the banks for shipment to r. iropc which
weeks, will probably cease in the current
week. Hence. 50 far a. local bank condi-
JiOnS are concerned. there appears to be
little reason for looking for exceptionally
firm money rates COMPARISONS Of loans
showed that eight hanks reduced this
Item hy SS,fH.ClD net: cash holdings of
these banks DECEASED s4.sO1co net.