The Birmingham age-herald., 1905-09-18
WEEKLY AVERAGES
 OF CLEARING HOUSE
REMARKABLE EXHIBITS MADE BY ASSOCIATED BANK STATE MENT - SURPLUS RESERVES ARE NOW SAFE.

New York, September 17-The state ment of averages of the clearing house hanks of this city for this week follows:
 Loans, s1 .oS5, s21. 300; decrease, $20,s6l, 6OO
 Deposits, sl Ose. S5s.2O0: decrease. s2s,Oes,- 40o
 Circulation, $53. 696. .5OO; increase, $500
 Legal tenders, si6,54S, ,40O; decrease, 1S'- 166, 200
 Specie, s2O2. .175. 200; decrease, So,2972Oo
 Reserve, s27S. .72s 600; decrease S4es.4Oo.
 Reserve required, $274,OSs, 300; decrease, s7.267, 1850.
 Surplus, s4,S 300; decrease, Sis6,o50.
 Ex. U. S. deposits, $6,774,525; decrease. s1s4, ,s5O.
 New York, September 17.-The Finan- cier says:
 Last weeks and the previous weeks official statement of the New York asso- ciated banks were most remarkable ex- hibits for they illustrated the ability of
 managers of the larger banks to meet
 what may be regarded as threatening sit nations in such a manner as to avoid
 crisis. In the week ending September and again last week, the heavy loss of cash due to sub-treasury operations, and to the drain of money to the interior, seemed to make it probable that the sur plus reserves would be wiped out. The bank managers were equal to the emer- gency on the first occasion, and the loans were contracted by an amount unprece- dented in the history of the institutions and sufficiently large to contribute to reduction in deposits and consequently in reserve requirepents, so that the de- | crease in the surplus was again threaten ed, the preliminary estimates indicating a loss of cash even greater than in the previous week The bank managers through a heavy contraction In loans, thereby reducing deposits and reserve requirements brought about at once al- most infinitesmal decreases in surplus, and the statement again showed a good
 working balance. It would seem that there must have been more or less con eerted action by the bank managers on both the loss known to have contributed to these remarkable results, and If there was such action, there appears to be possibility that in the future, when tense situations develop, similar concert may be relied upon to avert crisis. | The loans of the banks were contracted last week by s20, s61 600. making with the reduction in the previous week s51 ,09Ss 900 | in the fortnight and $60. 341 800 compared with the maximum of the year. which was recorded on August 5. The cash loss last week was S7, 463 40O, making $lS,4zz,I ,IVJ for the fortnight and $32 721 ,500 since Au- gust 5; the loss last week as in the pre- | vious week was largely due to sub-treas- ury operations and to direct shipments of money to the interior The general de- posits were reduced $29 ,069, 400, making total of s7O, ,2S4,5 800 for the fortnight and s103. S91 700 since August 5. Through last | weeks decrease in general deposits, the reserve requirements diminisned T,26H $50, which sum deducted from the loss of | cash, left s196,050 as the reduction In sur plus reserve to s4.655 300. Computed upon
 the basis of deposits, less those of s. 556 300 public funds, the surplus Is $6,774- b25 The statement made good proof. the sum of the contraction In loans and the loss of cosh being only s744,400 smaller | than the decrease In deposits. The daily average of bank clearings during the week
 was $259 100000 against $2SS, 100000 in the
 previous week; the exchanges on Satur- day refeeting Fridays business were $S2o,- 1 267. .1SS Comparisons of changes in loans
 by individual banks show that thirteen
 institutions decreased this item by 1894
 millions net, to which decrease five con
 tributed IT 2-3 millions; nine banks lost
 6 2-5 millions net cash.