The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-11-24
The Bank Statement.

New York Nov 23.-The statement
of the clearing house banks for the
week shows that the banks hold $54-
103, 300 less than the required 25 per
cent resurve rule. This is a decrease
of $436,650 in the proportionate cash
reserve, as compared with last week.
The statement follows:
Loans. S1,1S7, 998, 400; decrease, S4,012,-
600.
Deposits, s1O79, SIS, 800; decrease, 49,
4S5. 600.
Circulation. s5s.a67. 400; increase, S.
Legal tenders. s4IO52.Ooo; decrease,
Specie. slsS,7ss,1OO; decrease, sl,548,-
800.
Reserve. $215,S51, 100; decrease. $780,
SGS.
Reserve required, $3.50 954.70 de-
crease, S2,37f, $50.
Deficit. s54. 10S, 500. decrease, $436 $50.
Ex-United States deposits. $50. 1885,
| $50; increase. 81, 4O9.875.
The Financier will say:
The official statement of the asso-
ciated banks last week showed a slight
| improvement as compared with that
of the previous week, in that the de-
| ficiency in reserve was less than half
million greater than was that of the
week of Nov. Is. One encourag ing dis
closure was an increase of So, 400, 900 in
circulation, making a gain of Sc, 400, 900,
compared with the week of Nov. 9, in
dicating that the local banks are re-
spending to the requests of the secre-
taTy of the treasury TO augment the
volume Of their circulation notes. The
changes I'm the various items show a
| decrease last week, instead of an in
orr rlesn Of he, Il,
the previous week, in loans; the con-
traction i'm this item was $4,012,000 The
cash less last week was $780,. 500; in
the previous week it was 81, 135, 900.
The greater decrease last week, how
ever, was due to transfers and direct
shipments to the interior, offsetting re-
CeiptS of European gold: the large gain
in the volume of imported gold last
week was not fully reflected in the
statement. because of the fact that the
Mauretania could not get over it's
treasure. amounting to $13,0O0,00O I'M
til Saturday, or after the close Of the
bank week Therefore. the cash item
was made up on distinctly rising aver
ages, giving promise of a much better
statement in the current week. De-
pOsits decreased last week 50, ass, 900. In
the previous week the decrease was 81
400,0 zoe. As the result of this greater
decrease, the required reserve was re-
duced S2.371. $50 whereas in the previous
week the reduction was a little more
than $500, 900.
The reserve on all deposits last week,
as shown by deducting the required re-
serve, as above, from the loss of cash,
was S43S, $50; in the previous week such
reserve decreased S1,750, 600. The de-
ficiency in reserve reported last week
cd he
basis of deposits, less those of SIS, 1863, :
400 public funds, which it may be OBJ
served were reduced by $500. 600. COM
pared with the previous week. the de-
ficiency is $50. 9S6. $50, or about $500, 900
greater than in the week OF Nov. Is.
This was due 10 the reduction in such
deposits as above shown.
The bank statement summary which
was Issued on July s. 1893, the fourth
week of the crisis of that year, showed
| a decrease of $685., 900 in reserve TO
S5O0O,000 deficit, the latter condition
being recorded for the first time since
the crisis developed. 1t was observed.
though, that with sixty-four banks in
association the average of the deficit
was only $4,000. The cash loss was
S6, 125,000 This was, however, due to
the development of clearing house loan
certificates, which in that week were
officially reported as outstanding to the
amount of 500. 100000. The indications
then seemed to point to a retirement in
the following week of at least 81, 900. 900
of such certificates, and also that IT
would be necessary to make any fur
Their emissions thereof.
The statement of bank averages
showed S41S, $685. 900 of loans, SCI, ESQ. 600
of specie. 49,, 100000 of legal tenders,
making Sq4 900 600 of cash 1909 666 OOO of
deposits and S., $50, 900 of circulation.