The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-04-02
WEEKLY AVERAGES
OF CLEARING HOUSE
BANK STATEMENT WAS FAVOR.
ABLE FROM THE BORROWERS,
POINT OF vlEW-Loss OF CASH
UNEXPECTEDLY SMALL.

New York. April 1.-The statement of
averages for the clearing house banks
of this city for the week shows:
Leans 81, Oss, 2s97Oo, decrease $1o.As,OOO.
Deposits $l,13s,641. 800 decrease $4,000
600.
Circulation s4s, us, 700. increase s6S5,sOO
Legal tender $Ss,Ss4SOO. increase $4,000
Specie s20s, 4S1, 100. decrease 1859, 100.
Reserves 1928 1923 900, decrease $s149OO.
Reserve required fs4665,S25, decrease
$1,000. 100.
Surplus sS,664.575, Increase $21S5. 250.
Ex-United States deposits $l2,s9o,s75. in
crease s2,16l,1O0.
New York, April THE Financier
says:
The official statement of the non-as-
ISOLATED banks last week, while IT failed
to reflect the cash which was expected
from estimates based upon the trace
able movements of money recorded an
important contraction on loans and con-
sequently in deposits thereby reducing
the reserve requirements so largely as to
cause an increase in surplus: therefore
the statement was favorable from the
borrowers point of view. The opera
lions incident to the issue of $75. 900 600
OF Japanese loans were not clearly trace
able, possibly however, the Unexpected
ly small loss of cash as officially re-
ported may have been due to unrecorded
receipts from subscribers at distance
to the banks
The decrease in cash shown by the
statement was SS149OO. an amount smaller
by S,23600 than that which was esti-
mated upon the basis of the known move
ments of money. That this discrepencv
between the estimated and the official loss
was due to the above noted unrecorded
receipts from the interior seems prob
able for the cash loss to the banks was
almost caused by sub-treasury operations.
which We're distinctly closed The loans
were contracted by $40, 450 Don, making $685.
100000 since March A. this total rejecting
the extent of the liquidation which began
a month ago and has been continuous. The
contraction was much larger last week
than is shown by the above, which seems
probable from the fact that money which
was deposited with the banks during the
week preparatory to the distribution OF
April dividends and interest, and also
the per cent which was paid by appli-
cants for the Japanese bonds, must have
been loaned upon the market
The deposits were decreased S12 900 GOO
as the result of the contraction of loans
and the loss of cash and the required
reserve was thereby reduced $4,000, $50, de.
Quoting from which the amount of cash
loss left $2.1S5250 as the increase in sur
plus reserve to sS,664.575.
Computed upon the basis of deposits
less those of $1,000 200 public funds. the
surplus is 81 $780, 75. The statement made a
fairly good proof the sum of the de-
crease in plus the loss In cash being only
s173,7OO less than the reduction in deposits
The daily average of bank clearings was
sS19,000,0o0 against 1902, 900 in the prev
ious week. the increase probably being
due to shifting of loans and operations in
cident to the Japanese bond negotiations
Clearings reported on Saturday, refectine
Fridays business, were $4nO 503 a re.
marlably large aggregate Comparisons
of changes in loans by individual institu-
lions show that nine banks decrea sed
this item by s10.O00,OO0; five banks lost one
and two-fifths millions cash