The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-11-08
GOLD COMING TO METROPOLIS.
Increased Their Deposits and the Sit
uation on the Whole is Appar-
emily Bright.

New York, Nov. 2.-The financial
week came 10 close today without
any notable developments. The stock
exchange WAS comparatively steady
during the I:.y with .itlc activity.
The runs upon banking institutions
seem to be practically at an end and
few important conferences were held
by liEa .ricrS. The ,.rr.:nt in tnc re-
serves Of the New York clearing house
banks wa> Erl>:cr th"l in any re-
cen! ry;,rric,irr. bat VII, be largely
uf''; y TIC ""t: 4 ,'>a.~ next week.
Inr l. - III tn, r.",\r was about
$3TO00,000, but $1,000. 900 Of this WAS
due to the requirements Of - per
cent against IN Increase i'm the dcpuS-
its Of $2S,000,0OO. This increase in
deposits in The clcarin" house banks
apparently represents the transfer Of
funds from Inc institutions which
have bcra subjected to runs. The ac-
tual loss in cash. therefore. was abou
5000 600, which reduced the reserve
on hand to ubouii;225 ,00O, 900 The
gold engagements increased slightly
today by orders from Pitssburg and
other points, maxim" the total engage
mcnts to date $40, 10000. II all Of
this amount should go into the rc>cr-
YES Of the c!rnrin" house balkS il
would practically y restore their loss 81
Il h,, i,.
diversion "l' a part Of tn" am"un, t.
other cities will leave the bulk "i
the gold arriving TO go into New York
banks and probably will result in an
increase Of reserve next week. \
part Of the decline in cash. in the
face Of heavy deposits Of treasury
funds, has been due to the calls Of the
country banks for currency. II is be-
licvrd That these have been pretty
largely met and that the amount will
not be nearly as large during the com
in- week. Reports received from var
iouS parts Of tn" country indicate that
The SN>lrln ot mrrtill~ pay-rullS with
checks instead OF in currency is bcin"
largely adopted without any essential
Inconvenience" T." ware Carurrm,.
William. y. Nash. rrrviIcu 60 thy
Corn i.Nriiau"" h'u.. and m",u"r'
of the New lulk clearing house c,.I,.-
mit!rr. said III explanation Of :"dav'>
bank statement that tnr r!rariu':
house banks have been taking over
the I"aaS called by the trust coulan-
les, and that this increased the bank
loans. Mr. Nash said:
''Thr trust companies have incrra>-
"d their drr">its in The bank. The g.
Aal deposits have thus been Increased
without any addition to the stock nl
"ash and naturally the percentage Of
reserve has fallen. do not regard
this significant because the interest ON
deposits by the tr,,Sl companies is
payable. not in cash but in rlrarin.
house funds.
'Thc cha;rGc>; in loans. deposits a.,
reserve are so much in the nature ~
bookkeeping that they should not ar-
Feet the present situation.
''Thr real matter IN the bank STATE
mrnl Is tine supply of cash. The '"~-
Sr$ during he week are NOT greater
than expected. The shipment, I"
the iHlrrur and the boarding Of ,Hl'
r"nrN account fnr the loss rr!,uri"d.
IL h"lirvr that lrum nuw on ,nci.
Will be an Improvement. The hoard
ed currency will respond. rs it always
has. t" The premium that is being ul-
frrrd. The gold ON the way from
europe will begin to flow in acxt
week and with it will come faIlin.
off in the excitement about cash.