The Birmingham age-herald., 1905-03-26
WEEKLY AVERAGES
 OF CLEARING HOUSE
OFFICIAL STATEMENT IS MORE FAVORABLE BECAUSE OF THE LIQUIDATION IN LOANS AND RE- DucTIoN IN DEPOSITS.

New York March 25.-The statement of averages of the clearing house banks of this city for the week show:
 Loans, sl ,1O9, ,7O17OO; decrease $l7976,7O0
 Deposits. s1,150,6e 300; decrease $23,- TIC. 200
 Circulation, s4SO59, 800; increase, $256.3OO.
 Legal tenders. S3,79l,6OO; increase, $so.- 900.
 Specie, $21O.s5O, 200; decrease s4,7OssOO.
 Reserve. s294, 4,144S00; decrease, s4,61S, 300,
 Reserve required. S2s7, ,665, 475; decrease s5,944O5O.
 Surplus, s6,479,S ,S25; increase, $1,S25 l50.
 Exclusive United States deposits. $10,- 729,275 increase. s9s9.5O
 New York, March 25.--The Financier this week will say:
 Last weeks official statement of the New York associated banks was more favorable than 1t was in the previous week, chiefly because of the liquidation In loans, and in the consequent reduction in deposits, the latter resulting in a decrease in the reserve requirements by ar amount $l, ,635, 150 greater than the loss of cash, this sum representing the gain In surplus reserve. A contraction in loans was expected not only because of the low surplus shown in the state- ment of March IS, but for the reason that there was extensive liquidation in the stock market this week which would naturally affect this item and there was also an absence of syndicate borrowings; a reduction in loans of $l7,975, TOO, making $221s.6O0 for the fortnight which was therefore not surprising. The cash loss of $46lS,9O0 was greater by $74iS0O than that indicated by estimates which were based upon the treasury report.
 still it would seem that a greater of- fcial loss should have been shown con- slderlng the fact that the average trace able loss for the fortnight was S,450,0e0 while the cash decrease shown by the banks was S6000,0o0. The deposits were decreased s2s,776,2eo which amount of s1 1s0,6Oo greater than the sum of the transaction in loans plus the loss of cash therefore the statement failed to show a good proof. This, however, may have been to the weeks decrease in public deposits which was s1, 402, 400 The reserve requirement. of 25 per cent cash to general deposits was reduced S5,s44.o5O deducting from which the loss of cash left s1,325, 150 as the increase in the surplus to s6,479,325. Computed upon the basis of deposits less those of 800 public funds the sur plus is S1O ,374. The daily average of clearings for the week was 302, 900 900 against 900 in the previous week. the decrease largely affecting stock liquidation; clearings on Saturday repre- senting Fridays business were s129, 6s6,69i
 While the statement was in many re- spects encouraged it did not seem to givo any assurance of ease in money for this cannot be expected so long as the demand from the interior for crop planting and business purpose continues urgent. A fur ther decline of cash would seem to make necessary additional contraction in loans in order to maintain a reasonable amount of surplus reserve for the season. The comparisons of conditions in loans by in- dividual banks show that nine institu- tions contracted this item by 15 1-5 mill lions net and one of these reported a reduction of 10 Is million. six banks lost Kle millions cash