The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-05-06
CLEARING HOUSE
BANK STATEMENT
Official Showing is Somewhat
Disappointing
DECREASE IN THE SURPLUS
Banks of New York Have RENTED
Twelve Million Dollars to San
rancisco-Public De-
posts Increased.

New York, May 5.-The statement of
the clearing house banks for this week
shows that the banks hold $5.s99.525 over
the legal requirements. This is a de-
crease of $4,467,7S5 under last week.
The statement follows:
Loans. s1,O42, 900; increase. $1,000, 400.
Deposits, $1,O27. 273, 500; decrease, $1,4O9.
7OO
Circulation, $5O,0442OO decrease, 1924, 200.
Legal tenders, $7951.SO0; decrease, ST.
2s2, 600.
Specie. s1SS, 146 GU; decrease, 49, 200.
Reserve, 1862, III 800; decrease, $500, 300
Reserve required, s256S1S,375; decrease,
1853, 4s5.
Surplus, $5,S99,525; decrease, $4,467s75
Ex- United States deposits, $14, S92, 450; de-
crease, $2,1S275.
New York, May 5.-The Financier says:
Last weeks official statement of the
New York Associated Banks showed a
decrease in the surplus reserve about
equal to the increase which had been es-
timated on the basis of the known move
ments of money, therefore, the exhibit
was somewhat disappointing. The week $
statement failed to reflect the receipt of
about 100000 of gold, of which seven
and one-quarter millions came from
abroad, because of the fact that the for
eign importations were represented
through the return to the banks of the
public deposits that had been loaned
to the gold-importing institutions to ia
cilitate their operations. The loss of
cash. therefore, was chiefly caused by
the Withdrawals from those of the banks
which are renting funds to San Fran
cisco; these remittances amounted to
twelve millions. The loan expansion was
surprising when the fact Is considered
that the liquidation of speculative ac-
counts on the stock exchange was heavy
during the week; inasmuch, however as
public deposits increased nearly nine mil
lions, possibly loans were effected against
such deposits, thus more than offsetting
the above noted liquidations. The cash
loss during the week. as shown by the
statement was $4S20, 800 Deposits de-
creased 81, 40970O. which amount was SOLO,
200 below the sum of the loss OF cash
less the expansion of loans; therefore
the statement made only a fairly good
proof. The required reserve against gen.
eral deposits was reduced $780,, 40 deduct-
ing which from the loss OF cash. iell
| S4, 467 S75 as the decrease in surplus re-
serve to $5S99,525 Computed upon the
ba sis of deposits less those of $35,971 700
public funds the surplus Is sl4,S92, $50
Loans were expanded by $29OoOOO.
The daily average of bank clearings
| during the week was 900, against
1927, 900, 600 in the previous week; clearings
on Saturday rejecting Fridays business
were $3.50, 455, 494
! Comparisons of loans of Individual
banks show that nine institutions in
creased this item by two and two-hfths
millions net; eight banks lost seven and
tWo-thirds millions net cash.
1t may be noted that the statement
was somewhat deranged by the operations
incident to the consolidation of the Met
ropolitan with the Shoe and Leather
bank, which caused an increase of four
and two-ffths millions in loans, and OF
one and three-eighths millions in specie