The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-04
Call of the Comptroller for
Statement From Banks
Will Show What Has Become of
the Currency.
BIG BUNCH FOUND
Chicago Institution Claims to
Have $500, 100000 of 1t.
New York Probably the Only
Place That Is Shy.


Chicago, Dec. 4.-Cash in vaults of
Chicago banks today approximates
$500, 100000, $100,000,0O0 of which is
| in the savings banks and the remain
/ der in the national Institutions Never
in the history of Chicago banks has
| the actual money in hand been so
large as it is, at present. Reserves
are well above the 20 per cent of de-
| posits as required by the national
| banking law.
These facts were brought out today
when Comptroller Of the Currency,
| Ridgley at Washington, requested a
statement from national bankers
throughout the country.
| Virtually every national bank
showed today heavy increase in the
amount of money ready at the call of
depositors, the gains ranging from
$10,000,00o for the smallest to $15,-
900, 900.
The total amount which these banks
held On August %, when the last call
was made by the comptroller, was
$128, ,452.O63. Today the sum is not
far from s20o,Ooo.OO0. which with
| that held by the savings banks and
trust companies makes a total of
$30O,OOO,0OO.
Denver's Money in the East.
Denver, Colo, Dec 4.-John C.
Mitchell. secretary of the Denver
Clearing House association, when
asked what report the local banks
would make in response to the call
issued by the comptroller of cur
rency, said:
''The Denver banks will make
good strong statement There will be
shown a shrinkage in the amount of
deposits. but the sta tement will show
I, - s.,I
condition.
In answer to a question Mr.. Mitchell
said that while the reserve held by the
Denver banks was large, it was not
excessively SO and that much of it was
deposited in eastern depository banks.
New York Complains.
New York. Dec. 4.-The New York
banks will show as is we'll known an
average of reserves below the 25 per
cent requirements.
1t is expected they will show large
increases in loans and deposits with
corresponding losses of cash. A great
deal of out of town money has, how
ever, been offered in New York the
last few days, showing that the flow
is again setting in this direction.
An official of a leading bank in this
city said today:
1.-The comptroller's calls is most op-
perfume. 1t will disclose the real con-
dition of the national banks at a most
interesting time. The New York in
stitutions have borne the br|nt of the
trouble-we have been carrying the
burden-and the returns to Washing
ton will thoroughly demonstrate that
fact
Normal in Kansas City.
Kansas City, Mo-, Dec. 4.-Ths
amount of cash now held by the Kan
sas City banks. SIS about normal ac-
bankers here, and the reserves are
placed at between 40 and so per cent
of the deposits. Most of the small
country banks in Kansas and in this
portion of the southwest are said,
however, to hold almost double their
usual amounts of cash, for the reason
that many of the big Kansas City in
stitutions have shipped much cur
rency to their correspondents in these
places.
To Resume Gradually.
ST. Louis, Mo, Dec. 4.-The call of
the comptroller of the currency for
national bank statements will. local
bankers say, result in a general i'm
provement of conditions, for it is ex-
pected to show that most of the banks
are carrying large cash reserves. After
the statements are made it is expected
the excess reserve will be released for
making money more plentt-
full.
ST. Louis bankers, however will make
no announcement as to when cash pay
ments will be generally resumed, al
though cash is largely being paid at
the present time and clearing house
certificates are rapidly being with |
drawn. Fearing q sudden rush in the |
Of deposits and financial
reaction might be precipitated by such |
announcement, it has been deemed best
to gradually and quietly resume pay
ment of cash.
All in Good Shape.
San Francisco, Cal, Dec. 4.-Homer s. |
King, president of the San Francisco |
house. said today that all the |
banks in this association are in good |
shape. Since the financial stringency |
began they have been building up their |
reserves until all are normal and in a |
few cases above the requirements.
Business is improving every day and |
the issuance of drafts against ship |
ments of fruit and grain which for a |
time was suspended, has been resumed. |
The call for a statement of their con-
dition was expected by the banks and |
replies will be promptly made Mr.. |
King could give no estimate of the |
amount of money in the national banks,
as only seven of the eighteen in this |
city are members OF the clearing house.
Wichita case Continued.
The supreme court has continued