The Birmingham age-herald., 1906-09-16
IN
 SURPLUS RESERVE
BANK STATEMENT IS pIs spPolNT- ING, HOWEVER, IN HAT IT DOES NOT FULLY REJECT EN- PEcTED CASH lNcREsE.

New York, September 15.-h ne statement of the clearing house bankSor the week shows that the banks holdB, 400 more than the legal reserve regiments. This is an increase of s1O.1l439as compared i with last week. The stateent follows;
 Loans, s1 .Os6, 460 400; deerde Sl5,sls TOO.
 Deposits. Si OO5. 4S7, 500; deease, SS,726Soo.
 Circulation. $44,sSs sOO dfease, s29OOO'
 Legal tenders, $7154l, 800; ecrease, $ss2OO.
 Specie. SIT. .S66, ,5OO1s inerlse, $S,o24,9OO.
 Reserve. $254. sos, 300; inease, $19527OO. Reserve required, s251 a,9OOi decrease s2. .1s1 .625
 Surplus. sS53e, 400; increse. SlOl14S25.
 Ex. |. S. deposits, $7575Oo; increase, s11. .95O.S5o
 New York. September t-rhe Financier says this week:
 Last weeks official tatement of the l New York associated Inks realized the expectations that wereentertained Of q | restoration in the surpls reserve, but It 1 was disappointing in tht it did not fully | reflect the increase in cfh which was con 1 hdentlv looked for asthe result of the l advances made by tn treasury to gold l importing bangs in orer to facilitate im- portations of the metl; or the increase in cash which was d,k to the arrivals of gold from Europe duing the week. The statement showd gain of sI'sS2' @o cash. whereas the mst conservative estl- mates that were baed on the traceable movements of mouy indicated an ln- crease of not less than s1OOO0,000. The discrepanev betwee the estimated and the officially reporth gain cannot be sat- tsfactorilv exnlaipe It is noteworthy, howeevr that the increase in cash very closely correspond3 with the augmenta- tion in nublic" depoats which was S7,344,1o0 nrohahlv showing that the weeks ad- vances hv the treasury to assist gold im- norts were largey counted as public funds. this may Indicate one reason for the above named discrepancy, assuming that tho balance f the money advanced bv inc treasury was treated otherwise than a deposit.
 General denosits last week were re- duced ss 79e 500 which amount is greater hv Ia millions than the sum of decrease in loans. less the gain in cash, therefore inc statennent did not prove. The required reserve aeainst such deposits was $2,1Sl,- eo5 adding which to the gain in cash made $1011432o as the Increase in surplus re serve to S3. .596, 4O0 thus fully restoring this item which in the previous week showei a deficiency of s6,577 926. Computed on the basis of deposits, less those of Sll'oSf' AUD public funds. the surplus Is $7,957,5O0.
 Loans were contracted by $l5,SlS'ioo making s27,279,2o0 for the fortnight Tn which period it may be noted deposits were reduced $36569,6O0 This contraction in loans reflects the liquidation in the ! a1r ous as inc result of the strined monetary situation. especially in the week of Sep tember 8. The daily average Of bank clearings for the week was SS36'OOoooo against s370,OO0000 in the previous week. clearings on Saturday were $S62.O24 GAG. Comparisons of loans by individual banks show that eight institutions reduced this item by 12 2-s millions net; five banks l, gained T 1-S millions net cash.