The Birmingham age-herald., 1906-08-05
WEEKLY AVERAGES
 OF CLEARING HOUSE

New York. August 1.-The statement of the clearing house banks for this week shows that the banks hold s14,122,67 over the legal reserve requirements. This Is decrease of s4,769 800 as compared with last week. The statement follows.
 Loans. sl077 1sl. TOO: increase, $1s776,6O0 Deposits. sl.Oio. .5S9.s00 increase, Sl64S2.- 400
 Circulation. s46.51eeoo decrease, s5257oO.
 Legal tenders. Ss7.72 $500; decrease, $i,- 745 300.
 Specie, s195547. 200; increase, $1.0s6so0.
 Reserve. 3s3 272, ,5OO: decrease. $649,2oo
 Reserve required, $26s, ,14s,S25; increase, s412O,GOo.
 Surplus s4122 675; decrease, $.769.8oO.
 ExUnited States deposits s1S.216S50: de- crease. $2.S65,5OO.
 The figures of the State bank appear for the first time-in the bank statement.
 New York August 4-The New York Financier says this week:
 Contrary to expectations, last weeks official statement of the New York Asso- ciated Banks failed to reflect the pay ments through these institutions into the sub-treasury of about $10,0OO0OO on &C., count of settlements for the Panama canal bonds, which payments began on Wednesday and continued to the end of the week. The money paid for the bonds was promptly deposited by the sub-treas- ury in the general Repositories and in other local banks for distribution as pub lie funds among those of the interior in- stitutions which had been designated by the secretary as new Repositories for such funds
 1t was seen that these local banks must have treated this money as cash on tenn porary deposit thus offsetting the amount which they had paid over to the sub treasury for the bonds which their GUS toners among bond houses in this city had bought from the government. Even admitting that this was the case. how ever, there should have been shown in the statement large amount of cash de- crease resulting from sub-treasury opera tons. other than those incident to the Panama bond payments. The banks re- turn showed q decrease of $649,2 cash, though the majority of the estimates which were based on the traceable moVe- ments of money during the week, indi- cated a loss of about $4,00OOOO, this dis crepancy scarcely being accounted for by adjustment of averages brought over from the previous week.
 The general deposits increased S16. 400. which amount Is $1,645,O00 less than the sum of the increase of $1S.776.600 in loans, and the loss of $649. 200 in cash. and hence the statement did not prove.
 Such failure to prove was doubtless due In a great part to the inclusion in the statement of the State bank. which re- ported for the first time that it had been recenly admitted to the clearing house. This bank repored last week sl2,954,009 loans, $14855,O00 in deposits and S3,5S20 coo in cash and these items accounted for the above noted Arrangement in the return, though they make still more difficult of explanation the discrepancy in the cash item of the statement.
 The required reserve against general de- posits was augmented &120.000, adding to which the loss in cash above made $ 769, 800 as the decrease in surplus reserve to $l4122, ,675 Computed on the basis of deposits. less those of S9.016,100 public funds. the surplus is s16.376,700 The daily average of bank clearings for the week was $316000.000 against $265. .0O0Ot0 in the previous week. Clearings on Saturday re- flecting Fridays business were S355, ,374 782. Comparisons of loans by individual banks showed that ten institutions gained $15,- 00O.0O0 net, seven banks decreased cash by $1,O00,000