The Montgomery advertiser., 1907-12-27
BANKS MAKE GOOD SHOWING New York Institutions
 File Reports. RECOVERY FROM PANIC State Department Hears From
 Fifty. Their Statements Indicate Co.flaeses of Depositors and Abiiity ts
 Meet Every Demand
 Made on Them.

New York. Dec, 26--Under call of the State Banking Department for reports or condition on December l9. twenty one trust companies and twenty nine State banks of Greater New York, have Jed their formal statements.
 While the effects of the recent storm are plainly evident. especially in re- gard to those few institutions against whom the attack seemed most direct. the statements as a whole bear resti- mony of the quick recovery generally made and the unwavering confidence Of the great body of depositors.
 The reports also show that certain or the State banks of New York City did their share toward relieving the financial situation in other cities. They accomplished this by accepting rom the local national banks a large quan- toty of Clearing House eertifit atee. leaving the national banks in a posi- ton to employ their cash in relief of customers and correspondents In the interior.
 The twenty-nins State banks of New York. Brooklyn and the other Boroughs of Greater New York. which have 50 far reported, show aggregate deposits of s225.ooo.ooo.
 Of this enormous sum, the net loss in withdrawals since August 22, last, amounted to only $3.056.1i7. The losses were distributed among eighteen of the banks with total withdrawals of S13,025.761. while eleven banlee showed an aggregate gain of $f0.s6s,s44.
 Allowing for all withdrawals and the purchase of Clearing House certificates which are now held as collateral, ths State banks indicated their prosperous condition by maintaining cash reserves in some instances far in excess of the fifteen per cent required by State laws
 The official statements of the trust companies of Greater New York are. perhaps. fraught with the greatest in- terest. These institutions were forced to bear the brunt of the financial storm which broke with the suspension of the Knickerbocker Trust Company. The twentyone companies which have thus far reported, show a falling off of deposits of from s27s.c5g 300 on An- gust 22, last to s190.2ss.S00 in Decem- Der I9. The loss of deposits was ac- companied by the calling in of loans. the reduction in the latter instance amounting to s7s.000.00o. The market value of stocks, etc., show a decline of about S20.000. In specie, the twenty one trust companies show loss of less than $2.000.000, while in legal tender and bank notes held in reserve. they show an increase of nearly s1,000.000. The trust companies all were put to severe test. but their business affairs, according to the reports now submitted. have been so adjusted that many of the officers claim they are in better position today than ever before.
 The report of the Trust Company os America, which withstood a run of many days. was awaited with much in- terest. It shows a net decline in cash reserve of less than one per cent since August 1. The cash reserve of the com pany now on hand is $3,354.223, a per- centage of 16.77 as against the legal fifteen per cent requirement.
 This showing of the company Is made despite the fact that during the run it paid out more than 50.0o0 900. Part of this came from the $20,000,000 fund turned over to the institution by the committee of trust companies which came to the relief of the Trust Company of America when 1t was most in need.