The Birmingham age-herald., 1905-09-11
WEEKLY AVERAGES
 OF CLEARING HOUSE
LOSS OF cAst. IS MUCH IN Ex- CESS OF Tn MOST LIBERAL EsTIMATEs-suEeLus RESERVE SHOWS DECREASE.

New York. September 1o.-The statement of averages of the clearing house banks of this city for the five days last week;
 Loans. LOG, eS3. 800; decrease, $50, ,2s7, 300.
 Deposits, SLIPS. 422. GOO; decrease, s41, ,165.- 100.
 Circulation, s5s.7O2 4oO; increase, s6O6,sOo.
 Legal tenders. s7S.7146Oo decrease, $4.- 6440O0
 Specie. $2o7. .472. 400; decrease. s6,s14sOO.
 Reserve. ssS6, ,1O7. GOO; decrease, s10,s5SSOo.
 Reserve required, s2S1. .355, ,650; decrease, $10. 1,275.
 Surplus, s4.sS1, 1850; decrease. $667525.
 Ex. U. S. deposits. ses9, 475; decrease, s667,625.
 New York, September 1O.-The Finan- cier says:
 The striking features of the official statement of the New York associated banks last week were the surprising large contractions in loans; a loss of cash much in excess of the most liberal esti- mates; a heavy reduction in deposits re- sulting from the loss of cash, and the contraction in loans and a decrease, though to a moderate extent, in the sui plus reserve to figures below the mini mum of the year. The loan contraction of S3O, ,237 300 was doubtless principally due to liquidation of speculative accounts on the stock exchange during the week, ana also to the operations of the trust com panies. These institutions took advant- age of the firm rates for money at call, directly to loan balances, which were withdrawn from the banks for that pur- pose: the withdrawal of such balances made necessary cancellations of loans by the banks.
 The cash reserve was reduced by $1O,sSS,- SO0 or nearly 2H millions greater than the largest estimate of loss which was based upon the traceable movements or money during the week; possibly tnis excess may have been caused by the bringing over into last week of the bal ance of the average loss in the previous week It seems likely, however, that cash was withdrawn by some of the trust companies for the reinforcement Of their reserve, in view of the fact that they were this week called upon by the super intendent of banks for statement or their condition. Deposits were reduced S41, ,165, 100, which amount very closely agreed with the sum of the contraction in loans, and the loss of cash, therefore the statement made good proof The required reserve against general depos- its were reduced s10, ,291 ,275, which amount deducated from the loss of cash leaves s667 ,525 as the reduction in surplus re- serve to $4,ss1, 1850, or $322,S25 below the minimum of the year, which was record ed on March IS. Computed upon the basis of deposits, less those of sS,552,500 public funds, the surplus is s6,969,475. It is note worthy that the general deposits are now $49. .01550O the loans $20,9949oo, and the cash $12, 6,7O0 under the lowest of the year, which was previously reported on March 1S also that the loss of cash since the beginning of August has amounted to s25, .75O. The daily aver age of bank clearings for the five days of the week was $2S3 900, against $276,- GOO 900 in the previous week; the clearings in Saturday refiectng Fridays business were s276, ,99o, ,26s Comparisons of loans of individual banks indicate that twelve in- stitutions contracted thls item by 30 2-5 millions net eight banks lost Is mill lions net cash.