New-York tribune., 1907-12-29
TREASURY CALLS AGAIN
SENT OUT ON FRID4I
Local Banks to Pay Back Part OF
Their Government Deposits.

Another call il was learned yesterday, was IS
rued on Friday by the Secretary OF the lfeasuI<
for a proportion OF the. government deposlts he'u
b,r national banks of this city. The payment which
ts understood amount to 10 per cent OF the lo'"
.u,n IN deposit here is being made in ten equal
fnstalrnerts on as many successive business days
The amount Of United States deposits reported IN
yesterdays weekly statement OF the AssoclateH
Banks was s7s $50 100 that the present can Is
made on all the local repositories between S'9o""
and IS eneeo will be paid into the Treasury
within the few days n swell the depleleo
working balance Of the department The aVa1aple
cash balance of the Treasury on Friday mSht was
ses7 ess sS2 The working balance, however was eN-
frenlelv low as the deposits in national banks az
rregated $50 sss 272 and the deposits in the Philip
pine treasury were s4.57e.0SZ
II IS believed that in the case of the 10 per
cent call Of several weeks ago. the withdrawals al
this time will be only from institutions In this c'S
recourse not being had TO national banks In the
interior many Of which have reserves far in excess
Of the legal minimum OF . per cent oil deposltS
Banking conditions improving so rapidly al
this centre however, that the call for repayment
of q small fraction of the government funds heid
here &c no. felt bv local bankers be hardship
although. OF course, they are anxious TO wipe out
the deficit in reserve and retire the last OF 'ne
Clearing House certificates as soon as posSiole'
But the deficit has been reduced in the week just
ended BY 81 $50, standing at s2ol9oSo Wlch
coyonares with the deficit s4 1885, 800 shown in the
statement OF November q. Yesterdays statement
showed also an increase in cash of nearly S.5o"H
and decrease of nearly s1Sc0.oao in loans
Attracted by the high rates for call money ana
,r7boIdened by the obviously improving situation
here banks in the interior at last beginning 10
forward funds 10 this centre for employment 'h'7
movement being important step IN me oiectiol
Of restoration OF normal conditions. The premium
on currency has within the week dwindled 10 nom
;naI proportions the quoted rates yesterday pelhs
II rer cent TO sellers and q per cent TO purchasers
- ,.,-rorcx- NTH little business done. Large or
yers-s of currency received yesterday by local
-,,onev dealers from Western banks and the aoso-
lutte disappearance of the premium. which has per
sisted long beyond the period originally estimated
nv experienced bankers. is now expected TO be Wit
messed within another week.
The banks this city once more virtually on
fuil cash payrrent basis. although no formal no
,ire of intention to the restrictions placed
around the drawing out of cash several weeks ago
has been issued. Requests 20 withdraw exception
ailv heavy sums Of currency will be scrtlnzed by
hank officers but all normal demands will be hon
ored That means that In future employers accus-
TONED TO nay of in cash will not be obliged 10 use
both checks and cash IN meeting their payrolls
when the last Clearing House certificates will be
ranceed cannot yet be definitely predicted, but the
op;nion of bankers Of high reputation Is that the
certificates will be wholly retired before the end OF
January.