The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-04-09
WEEKLY AVERAGES
OF CLEARING HOUSE
BANK STATEMENT SHOWS LOANS
WERE CONTRACTED INSTEAD
OF BEING EXPANDED AS Elk
PEcTED-REsERVE SHOWS LOSS

New York, April s.--The statement of
averages of the clearing house banks of
this city for the week shows:
Loans ST, 600 759 decrease IS, 73o,100.
Deposits SLIPS. 100, 200: decrease so, $50, 500.
Circulation sA,120, 400. increase 4Ol 700.
Legal tenders So. 672. 500; decrease $l,176-
900.
Specie sos 0S5, 200; decrease 81, AS, 900.
Reserve 1920, 7O7, 700; decrease 81, 622, 200.
Reserve required s2S2. O25. 175; decrease
81, 64O, 150
Surplus IS. 6S2, 525; increase s1795O
Elk United States deposits $12, 1924 $50; in
crease 1915
New York April s-The Financier says
this week:
There were at least two disappointing
features disclosed by last weeks Of
ticia1 statement of the New York as
ISOLATED banks, the loans were contracted
instead of being expanded as was ex-
pected, and the cash reserve showed an
important loss, whereas a small gain
was indicated from the traceable move
ments of money The surplus reserve
however, showed a gain though It was so
small as to leave bank conditions in
this respect practically unchanged, as
compared with the previous week. The
decrease of SIS, $50 100 in the loan item was
probably due in part to operations In
eident to the April settlements 1t would
seem from the record of individual
changes, however. that other transactions
similar to those which have contributed
to continuous reduction In loans since
March 4 causing an aggregate contrac-
tion of $A, 000, 900, in this interval were re-
GnAnEihlp ref
The cash reserve decreased 81, 622 200, an
amount greater by three-quarters of
million than that which was estimated
from the traceable movements of money
during the week, the latter showing
gain of $633,500 1t is the more difficult
| to account for this discrepancy because
the details of the estimates appeared to
be based upon more or less exact dsta
obtained not only from the banks but
from the sub-treasury operations, upon
which the estimates of bank conditions
as regards cash were based, seemed to
| show that the spring outflow of currency
to the country had been checked and
mat return movement might soon be
| expected. These expectations may be real
lied after 1t shall appear that the cash
changes shown in the bank statement
We're due to special requirements which
will soon be satisfied. The deposits de-
creased $40 600,111, Which amount is only
| 1851, 700 less than the sum of reduction
in loans, and the loss of cash, therefore,
the statement made fairly good proof
The required reserve was decreased ST.
| 64O15O, dedncting from which the loss of
cash, left $17,950 as the increase in sur
plus reserve to $s,6S2525. which gain 1t
may be noted is remarkably small. Com
puted upon the basis of deposits, less
those of $16961S00 public funds, the sur
plus is $l2,924.250. The daily average of
bank clearings last week was SAL 900, 000
against s319,OO0,0OO in the previous week.
showing the surprising gain of $22 COO
The clearings on Saturday rejecting FRI
days business were $3.50 SOC, 1914 or $4S, 0OO,-
900 above the daily average. Comparisons
of conditions in loans show that six banks
decreased this item $11 600 900. net, one of
which indicated a contraction of thirteen
and two-fifths millions. Seven banks lost
two and three quarter millions net cash.