The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-01-22
WEEKLY AVERAGES
OF CLEARING HOUSE
LOANS AND DEPOSITS ITEM
SHOWS GAIN OF $34,474, 7o0-DE-
POSTS WE'RE INCREASED $44,-
$500 DURING WEEK.

New York, January 21.-The state of av-
erages of the clearing house banks of
this city of the week shows:
Loans, $1,O9s,s11, 500; increase, $34, 474,70
Deposits, s1,163. SIS, 200; increase, $44.6551OO.
Circulation, s42,96O,7OO; decrease, 1894
Legal tenders. 500, 657SOO; increase, ST.
999, 800.
Specie. $224O29 800; increase, IS, 4Ss, 400.
Reserve, 1914 6S760O; increase. $40. ABS. 300.
Reserve required, $3.50, s5S, 800; increase,
S116S, 775.
Surplus, $2S. 7Ss,SO0; decrease, s725, 475.
Exchange United States deposits, $2S, &c.,
$50; decrease, S1,112600.
New York, January 21.-The Financier
this week says:
The official statement of the New York
associated banks last week showed en-
tirely unexpected and extremely large in
creases in the principal items. The most
important of these gains was in loans
and deposits. The former were augment
ed by sS4, 474,7OO, carrying the total within
SAL 700 of the highest week last year,
and on record; the maximum in 1904 was
S1,1459S9, 200 on October s. The deposits
We're increased $4 $50, 100 making the total
S60391, 400 less than that of 81 224 206 600, the
maximum recorded on September II, 1904.
The cash reserves were increased $10,-
ABS, 800, following a gain in the previous
week of SIS, 34S 800, making a total of $685.
49, 200 in the fortnight. The required re-
serve of 25 per cent aaginst general de-
posits was 11163,775, deducting from
which the cash gain of $1O,4SS, 800, left
s725,475 as the decrease in surplus reserve
to $23, 733, 800.
Computed upon the basis of deposits,
less those of $2o,9S1,SOO public funds, the
surplus was $2s,979250. a-.e statement
showed a good balance the sum of the
gain in loans and of cash being only
$255,900 greater than the increase in de-
posts. The expansion in loans of $34,-
476,70O was most likely largely due to
| syndicate borrowing through the prin-
cipal banks, which were almost daily in
the markets with offerings of loans at
call, some considerable portion of which
must have been placed, possibly also the
rates for collateral loans for fixed pc
| RODS may have induced borrowing by
stock exchange operators, If not by COM
mission houses. The cash gains were
doubtless augmented through sub-treas-
ury operations, including the return to
the banks from Washington of the pro-
ceeds of national bank note redemptions
which have latterly been quite large,
the movement of currency from the in
terror also contributing to the cash gain.
The statement only partially reflected
the surrender of 10 per cent of the pub
lie deposits under the November call,
which matured last week. the reduction
in this item being only $1,552500 compared
with the previous week. Interior banks
have. however effected surrenders of
their quota of public funds through
their New York correspondents. That
the statement was favorable, consider
ing the borrowers point of view, goes
without saying. Tenders, however re-
garded 1t as unfavorable for the reason
that 1t contributed to greater monetary
congestion. The daily average of bank
clearings for the week was $780, 900,
against 1926, 600, 900 in the previous week