The Birmingham age-herald., 1905-01-08
CLEARING HOUSE
 WEEKLY AVERAGES
STATEMENT FAILS TO REFLECT IN CASH ITEM THE LARGER GAIN WHICH WAS ESTIMATED
 FROM TRAcEABLE MOVEMENTS.

New York, January 1.-The statement
 of aveages of the clearing house banks of this city for the five days of this week shows:
 Loans. s1.Oes, 742. 700; increase, s8ol,5OO. Deposits, sl,1O9, ,1ss. 600; increase, s5,1195Oo Circulation, s4s, 72. 400; increase. s271Oo. Legal tenders. ss5, ,21e 400; increase, s4- 075, ,500
 Specie s9O3,6S40o0; decrease, s4S7o,SOO. Reserve, S2SS, 300, 400; decrease, $795, 300.
 Reserve required. s2T, ,292 15O increase, | s1, ,279.S75
 Surplus, $11, eos, ,250; decrease, $2,o75 175. Exchange United States deposits, s17,-
 S06.o50; decrease. s2, 29.425.
 New York. January 7.-The Financier says:
 The most notable feature of the official statement of the New York Associated Banks last week was its failure to re- fleet in the cash item the large gain which was estimated from the traceable move ments of money during the week, an in-
 crease in legal tenders nearly offsetting loss in specie, while the estimates in- dicated a gain of more than seven and one-half millions cash. It is difficult to account for this discrepancy on the the
 ory that 1t was caused by the week. s exports of gold, for these shipments were
 included in the estimates, and moreover.
 the traceable gains chiefly from the in- terior, representing the return flow of
 currency. The net decrease in cash shown
 by the statement was $7s5, 300, specie de-
 creasing $4s70,s00, while legal tenders in
 creased s4,075,500.
 Deposits were augmented s51195oo,
 which was s2,s7s 300 in excess of the
 sum of the increase in loans, less the
 loss of cash; therefore, the statement
 showed an unusually bad proof. The required reserve was increased H,- 79,S75 through the augmented deposits, which requirement., added to the net loss of cash, made a decrease of s2o75,175 in surplus reserve to s11, ,60s.250, above $3,0o0,- 900 less than the surplus at the corre- spending date in 1904. Computed on the basis of deposits, less those of s22, ,391 200 public funds, the surplus last week was $17, ,306,050 Loans were increased s3,0415o0, reflecting probably ordinary loaning op- erations. The daily average of c1earings was s371 oo,0Oo, against s270,oOo,o0o in the previous week. This large increase doubtless represents the shifting of loans, incident to the January disbursements, the clearings on Saturday, refiecting Fri days business, were sS59. .545,153. The statement was probably made up on de- clining averages for cash as there were large withdrawals of gold at the end of the week for indirect export to Japan. and for shipment to Argentina Still it would seem that considering the fact that fin the previous week there
 was a large unnccounted for gain of cash as the result of receipts from the interior, and that last week there was a still greater gain from the discrepancies of the last fortnight, ought soon to be corrected enabling the statement to show considerable increases in this item of cash. Comparisons show that five banks increased loans by million and a third net; seven banks gained a million and a half net cash. One interesting feature of the statement Is that with the excep- tion of 1902 this is the first time in fifteen years when there has been a decrease In surplus reserve; even In that year the re- duction in this item was less than S500,- 000