The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-11-10
The Bank Statement.

New York. Nov. 9-The statement of
the clearing house banks for the week
shows that the banks held $51.9i4 625 less
than the requirements of the % per cent
reserve rule. This is a decrease in the
proportion cash reserve of S13.0S5, 800. as
compared with last week. The state
ment shows;
Loans. s1,1S7.S16. 400: increase sSS. 1853. 500
Deposits, $1,lS1. Sl6, 400; increase, SS5.051,-
Circulation. So. $50. 100: increase. s1.113, 400
Legal tenders, $40 0S2 800: increase 1888,
900.
Specie. S17O.712. 200: decrease. s.. POI. $780,
Reserve, S219, 793, 900; decrease, Si,3l5000.
Reserve required. s271, 719, 525; increase,
Sc. 772, 500.
Deficit, s51.9 81: increase. s1s.OS5. 800.
Elk. U. s. deposits, SS3,65l, SIS; mot given
last week.
The Financier will say:
The official statement of the New
York associated banks last week showed
highly important changes, as was eX-
pected would be the case. from the OPP
erations of the banks during the week
The cash loss indicated the very decid-
ed change of more than S26. 90, 000 as COM
puted, then loss of s3O,60 800 was re-
was only S4313,OOO. Deposits increased
about $7,0000C0 by comparison with the
previous week. then this item was in
creased s2S,G24.40O. and last week 1T dis
closed a gain of SS5. 09i. 200. Loans showed
the smaller augmentation of S22 100000 in
the week of Nov. 3. The increase was
$50, 74l 800 while last week il was SIS $685..
500. The decrease In reserve was less
by S24.666,O0O; in the previous week such
decrease was s37. sos. 525 while last week
IL was Sl3.0S5, 500 The deficiency in re-
serve which last week was SOL 924, 625,
was in the previous week S3S, $685. S25: this
was due to the changes in the above
items and also to the increase in public
deposits.
1t may be observed that the withhold
ing from the statement of Nov. 9 of the
y inf nF ra11Nl IN
deposits held by the banks was regarded
as desirable because thereby such state
ment would agree in form with that in
1893. when clearing house loan certifi-
Gates were last issued-and when gov
eminent deposits were included in gen.
eral deposits-and be comparable with
the exhibit of that year, as regards the
items of loans. specie, legal tenders and
general deposits. Hereafter. it should be
stated. it is purposed to report the hold
ings of public funds separately, as has
been the practice in recent years. The
increase in such deposits compared with
those reported Oct. % has been So. OPS. 800.
The amount of reserve held below the le-
gal requirements of % per cent of cash
TO general deposits last week was as
above shown. 1924. 635. But deducting
from such general deposits those of s73,-
200 public fund. the deficiency is $685.
35l,595. With the increase in cash, which
should be shown in the current week
bank statement, as the result of impor-
tatiOns of gold from Europe. the exhib-
il of Saturday. the 18TH will doubtless in
dictate a decided improvement in bank
conditions: indeed. the foreign gold that
was last week placed in the banks con-
tributed to make the statement one of
the rising averages, especially for cash.
The percentage of reserve on general de-
posits shown by the statement of last
week was 20.2; such percentage on depos-
its. less those of public funds was 21.S
The bank statement of June &c. 1888 the
second week in which the clearing house
loan certificates were used. showed loss
OF S5.412. 500 in cash of SS.472, 900 in depoS-
its. and surplus reserve of s.. 4S1, 975:
loans decreased S.14300.