Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-27
YORK STATEBANKSO.K.
REPORTS MADE TO NEW YORK
SUPERINTENDENT PLEASING.

OF the state banking department for reports
of conditions 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 recent storm are plainly evident.
especially in regard to those few insttu-
tons against whom the attack seemed
most direct the statements as a whole
bear testimony Of the quick recovery gen.
orally made and the unwavering conf
dence of the great body of depositors.
The reports also show that certain of the
state banks of New York city did their
share toward relieving the financial situa-
ton by accepting from the local national
banks a large quantity of clearing house
certificates, leaving the national. banks in
position to employ their cash in relief of
customers and correspondents in the in
terror.
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 500,
100000.
OF this enormous sum the net loss, in
Withdrawals since August 30 last amount
ed to only $3Oo6,1 III. The losses were
distributed among eighteen of the banks,
with total Withdrawals of S13.92J ISL.
while eleven banks showed an aggregate
gain of s10,se9,644
| Prosperous Condition.
Allowing for all Withdrawals and the
purchase of clearinghouse certificates
which are now held as collateral, the
state banks indicated their prosperous
condition by maintaining cash reserves
| in some instances far in excess of the 10
per. cent. required by state laws. One
of the largest holders Of the certificates
shows a. reserve of "a per cent.
| tat hi aav ~ of
its membership in the Clearing house AS
ISOLATION to issue certificates. which are
now outstanding as a liability item of
$4,000. Nine of the state banks hold
clearinghouse certificates to the extent
Of 81 100000. Loans and discounts show
a decrease in the statements of nineteen
of the banks, while the values of stocks.
bonds, mortgages, etc, as an item of re-
source also show a general shrinkage.
majority of the banks show an increase
of cash, on hand.
| The official statements of the trust COM
panies of Greater New York are. par
haps. fraught with the greatest interest
| Those institutions were forced to bear the
brunt of the financial storm which broke
with the suspension of the Knickerbocker
Trust Company.
| Trust Companies Report.
| The-21 companies which have thus far
reported show falling off of deposits
from s27S:O56,30O on August q last to
$50. 256 500 December 10. The loss of
deposits was accompanied by the calling
in of loans. the reduction in the latter
instance amounting to s7s,OOo.OOO. The
market values of stocks. ETC.. show a de-
cline of about 10000, 900. In specie the
81 trust companies show a loss of less
| than s2,00O.O0O, while In legal tenders and
| bank notes, held as reserve, they show
| an increase of nearly 100000 The trust
| companies all were put to a 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 of
| America which withstood run of many
days, was awaited with much interest.
1t showed net decline in cash reserve
of less than 1 per cent since August 1.
The cash reserve Of the company now on
as against the legal Is per cent, require
ment. The reserve of the company last
| August was something more than SILL
| 100000. or 1882 per cent of the deposits.
The capital Of the Trust Company OF
America, as with all other companies SUBJ
hitting reports remains unimpaired. This
| showing of the company is made despite
the fact that during the run 1t paid out
more than $50.OOOOO0
Part Of this came from the 800 10000
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. The
| total amount Of deposits now on the
! by the December statement. The COM
pany's surplus on December 10 was ST.
1853. 1874. The amount due to other trust
companies was reduced during the run
| from the August figures of nearly $4,000
600 to less than 100000. Loans to di
rectors. which. six months ago. amount
| ed to $500 coo. do not appear in the De-
oember statement all directors having
paid up during the crisis.
Financial FURRY Over.
| Thirteen trust companies contributed
to 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 Man
haitian Trust, the New York Trust and
the Equitable. The fund amounted to
81. 49, 100.
| Yesterday was the date Of the expira-
ton of most of the sixty-day withdrawal
notices required by the savings bank
at the height Of the panic in October, but
scarcely depositor called for his money.
The banks expected few demands, as
they were convinced the feeling of finan-
cial unrest was practically over. In
| most cases today's withdrawals were
more than offset by deposits.
| All of the banks had made arrange
ments to pay of hundreds of depositors
| II it was necessary, but the majority of
the depositors either Cancelled their no.
tees or drew only small amounts.
One bank, whose notices called for
$500, 900. paid out $4,000 and the proper
tion was about the same at other insti-
tutionS.
At the BoWery Savings Bank 900 de-