Omaha daily bee., 1907-12-27
STATE BANKS IN GOOD SHAPE
Institutions in Greater New York
Show Small Loss in Deposits.
TRUST COMPANIES CLEAN HOUSE
I'm Deposits Accompanied
by Calling of LORns-AII
stand severe Test
Well.

NEW YORK, Dec. 2s.-Under call Of the
State Banking department for reports OF
condition on December 10, twenty-one trust
companies and twenty-nine state banks of
Greater New York have filed their formal
statements. While the effects OF the re-
cent storm are plainly evident especially
in regard to those few institutions against
which the attack seemed most direct, the
statements as a whole bear testimony OF
the quick recovery generally made and the
unwavering confidence of the great body of
depositors. The reports also show that
certain of the state banks of New York
City did their share towards relieving the
financial situation in other cities They ac-
complished this by accepting from the local
national banks large quantity of clear
ing house certificates. leaving the national
banks in position to employ their cash in
relief of customers and correspondents of
the interior
Small Loss in Deposits.
The twenty-nine state banks of New
York, Brooklyn and the other boroughs OF
Greater New York, which have so far re-
ported show aggregate deposits of $685.
10000 OF this enormous sum the net loss
in Withdrawals since August % last
amounted to only SS056, III. The losses were
distributed among eighteen Of the banks
with total Withdrawals Of S19,O25, 761, while
eleven banks showed an aggregate gain Of
SO. .s69, ,s44
Allowing for all Withdrawals and the pur-
chase Of clearing house certificates, which
are now held as collateral, the state banks
indicated their prosperous condition by
maintaining cash reserves, in some in
stances far in excess of the 10 per cent re-
quired by state laws. One of the largest
holders OF the certificates shows a reserve
Of "a per cent.
Only one state bank took advantage Of
its membership in the Clearing House asso-
citation to issue certificates, which are now
outstanding as a liability item of $50 900.
Nine of the state banks hold clearing house
certificates TO the extent of S7.lOOOOO.
Loans and discounts show a decrease In
the statements of nineteen of the banks,
while the values of stocks. bonds mort
cages, etc, as an item of resource also
show a general shrinkage. A majority of
the banks show an increase of cash on
hand.
Trust Companies Clean House.
The official statements of the trust com
panies of Greater New York are perhaps
fraught with the greatest interest. The in
stitutions were forced to bear the brunt of
the financial storm, which broke with the
suspension of the Knickerbocker Trust
company. The twenty-one compapies which
have thus far reported show a falling of
of deposits from S27s. .O56. 800 on August q
last ta $50 500 on December IS The loss
of deposits was accompanied by the calling
In of loans, the reduction in the latter in
stance amounting to $7S,OOO,OOO. The market
values of stocks, etc, show a decline of
about S2O,Oo0,0OO. In specie the twenty-one
trust companies show a loss of less than
100000 while in legal tenders and bank
notes, held as reserve, they show an in
crease Of nearly 100000 The trust COM
panies all were put to a severe test, but
their business affairs, according to the re-
ports now submitted, have been so ad-
justed that many of the officers claim they
are in a better position today than ever
before.
Thirteen trust companies contributed tc
the Associated Trust company fund '
which was raised for aiding weak com
panies during the financial furry. The
largest contributors were the United States
Trust the Central Trust. the Manhattan
Trust, the New York Trust and the Equt-
able. The fund amounted to S7,619.7OO