The Montgomery advertiser., 1907-11-03
|N0ZHANGES IN SITUATION New York Crisis Has Passed. LARGE IMPORTS OF GOLD Reserve Fund in Clearing House
 Shows Decrease, rhe Fiaa.clal Week Came To Close Yesterday withoat Any Notable
 Developments--Furth rm-
 prevements Looked For. ?

New York. Nov, 2.--The financial week came to close today without any notable developments. The stock exchange was comparatively steady during the day with little activty. The runs upon banking institutions seem to be practically at an end and few i'm : portant conferences were held by finan- ciera. ss s.s fs
 The decline in the reserves of the New York clearing house banks was heavier than in any recent experience, but were largely offset by the arrivals of gold next week. The apparent loss in the reserve was about ss7,o00.000 but y7.000.o00 of this was due to the re- Qutrement of 25 percentage against an Increase in the deposits of $2S.000. This increase in deposits in the clearing house banks apparently represents the transfer of funds from the institutions which have been subject to runs. The about s30,000,0o0 which reduced the re- serve on hand to about s225,000. .oGo.
 The gold engagements increased slightly today by orders from Pittsburg and other points, making the total en- gagements to date S2s. 50,ooo. If all of this amount should go into the Clearing House banks, it would prac- ticaliy restore tlieir loss of cash dur ing the past week. Even the diversion of part of the amount to other cities will leave the bulk of gold arriving to go into New York banks and probably will. result in an increase of reserve next week.
 4 part of the decline in cash, in the face Of heavy deposits of treasury funds. has been due to the calls of country banks for currency. tis be- lieved that these have been pretty largely met and the amount will not be nearly as large during tho coming week.
 Reports received from various parts Of the country indicate that the system ok meeting pay rolls in checks instead Of ir currency. Is being largely adopt a yithons arY essential incnnVeHien1e
 William A Mask. president of the Corn Exchange Bank. member of the New York Clearing House Committee. said in explanation of todays bank statement, that the Clearing House banks have been taking over tho loans called Dy the trust companies and that these increased the bank loans. MT. Nash added;
 sThe trust companies have increased their deposits in the banks. The total deposits have thus been increased with out any addition to the stock of cash and naturally the percentage of reserve has fallen. do not regard this as significant, because the increase of de- posits by the trust companies is pay- able. not in cash but in clearing house funds. The changes in loans, deposits and reserve are so much in the nature of bookkeeping that they should not affect the present situation.
 "The real matter in the bank state ment is the supply of cash. The losses during the week are not greater than expected. The shipments to the inter- for and the hoarding of currency &C., count for the loss reported.
 TT believe that from now on there will be an Improvement. The hoard ed currency will respond, as 1t always has. to the tempting premium that Is being offered. The gold on the way from Europe will begin to flow In next week and with it will come a falling of in the excitement about cash"