Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-04
BANK REPORTS CALLED FOR
BELIEVED THAT THE EFFECT
WILL BE BENEFICIAL.

The controller Of the currency today
issued call Tor q statement of the con-
dition OF national banks at the close OF
business December 8.
The following is a copy Of telegram
which was today forwarded to the man
ayers OF all clearing houses by the con-
troller:
Report Of conditions called for for
Tuesday. December, 3. Instruct all clear
inS mouse banks to report clearing houss
certificates as follows: On face Of report.
below item 10, under resources or be.ow
item u. under liaoi tiles as clearins
Of report, below item x. In schedule OF
loans and discounts show total amount
Of clearing house certificates taken oui
by the reporting bank and the total
amount on hand"
b. Beneficial Effect Expected.
NEW YORK. December 4-The call for
statement Of the condition Of national
banks was not unexpected in financial cir
cles here. Only four OF the five calls re-
qu1red by law each year had been made.
and in the natural course OF evenls 1t was
anticipated that the NTH and last cal.
could not be much longer delayed. 1t Is
telt here that it will exercise beneficial
effect on the situation, inAsmuch as the
Tanks custC marty try to prepare tor a
call by increasing" their casn, and when
the call has been maze this cash Is auto
matically released. The belief also pre-
walls that the statement resulting from
this call vii. show that the cash reserves
of the country banks are very large, an =.
that when this TACT becomes public it will
tend to rapidly rester> confidence amone
depositors, and thus hasten the resump-
lion Of currency payments.
NEW YORK. December 4.-The New
York banks In their returns to the con-
trol.er OF the currency will show. as is
well known. an average OF reserves be-
rule. = = -:
An official of loading national bank in
this city said today:
The controllers cal IS most oppor-
tune. 1t will Disclose the real condition
OF the national banks at most interest
ing time. The New York institutions have
borne the brunt Of the trouble-we have
been carrying the burden-and tho re-
turns to Washington will thoroughly
demonstrate that fact"
Heavy Cash Reserve in Chicago.
CHICAGO, December 4.-Cash in vaults
OF Chicago banks today approximate $780,
5000. Of which 800, 100000 is in the say.
ings banks and the remainder in the ma
tional institutions. ..-.-.
Never In the history Of Chicago banks
has the actual money in hand been so
large Is 1t Is at present Reserves are well
above the rs per cent of deposits as re-
quired by the national banking law. These
facts were brought out today when Con-
troller of the Currency Ridgely, at Wash
:ngton. requested statement from ma
tional 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 $1OOOO.0 900 for the
smallest to $15.OO0,O00. The total amount
which these banks held on August %.
when the last call was made by the con-
troller, was $128. 452, 063. Today the sum
Is not tar from 500, 900. which, with
that held by the savings banks and trust
companies makes a total Of $500. OOO, 900.