The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-12-28
Banks NJ lake
Fin Showing,
STATEMENT MADE FOR NEW
s YORK; BANKING DEPARTMENT
QUITE SATISFACTORY.

ports OF condition on December 10, 81
trust companies and % State banks
Of Greater New York have filed their
statement. The statements. as a
whole, testify to quick recovery and
the unwayeriug confidence OF the great
body Of depositors.
The reports also show certain State
banks did their share toward relIev.
ing the financial situation in othes
cities. They accomplished this by
accepting from the local national
banks a large quantity of clearing
house certificates, leaving the M.
tional banks IN position to employ
their cash in relief OF customers an |
correspondents in the interior.
The 20 State banks OF New York,
! Brooklyn and the other boroughs of
/, Greater New Yorl, which have so far
reported show aggregate deposits OF
s225,0oO,OOO. or this enormous sum
the net loss In Withdrawals since Au.
gust % amounted to only s3,O5G.117.
1.-THE losses were distributed among 1s
! of the banks. with total Withdrawals
of s13.925.IGl. while II banks shovel
an aggregate gain of slO.SG9.644.
Cash Reserves Maintained.
Allowing for all Withdrawals and
the purchase OF clearing house certifl.
Gates now held as collateral the State
banks indicated their prosperous coz.
dition by maintaining cash reserves by
State law. One Of the largest holders
OF the certificates shows a reserve IF
"a per cent. a majority OF the banks
. show an increase OF cash on hand.
I The official statements of the trust
companies are perhaps fraught with
the greatest interest. These institu.
lions were forced to bear the brant
OF the financial storm which broke
with the suspension of the Knicke:.
booker Trust Company. The 81 com.
panies which have thus far reported
show a failing off of deposits from
s2'S.O5G.5OO on August % to sl9O,256,
500 December 10.
The loss OF deposits was accompa.
MED by the calling in OF loans. the re.
duction in the latter instance amount.
ing to $IS.0O0000. The market values
! OF stocks, ETC., show decline OF about
twenty million dollars. In specie the
q trust companies show a loss Of less
than two million dollars, while In le.
gal tenders and bank notes held as re-
serve they show an Increase of near.
ly million dollars.
The trust companies all were put
TO severe test, but there business at.
fairs. according to the reports now sub.
mitted. have been so adjusted that
many OF the officers claim they are In
better position to-day than ever be.
fore.
One company's Brilliant Record.
The report Of the Trust Company
OF America. which withstood a run Of
many days. was awaited with much
interest. 1t shows net decline IN
cash reserve of less than / per cent.
since August The cash reserve OF
the company now on hand is $685..
22S-a percentage Of 1877, as against
the legal Is per cent. requirement. Tho
reserve OF the company last August
was something more than s11,OOO,-
900, or 1852 per cent. ow the deposits.
The capital Of the Trust Company OF
America, as with all the other COM
panies submitting reports, remains un-
impaired.
This showing Of the company Is
made although during the run It paid
out more than s50.0O0,OO0. Part Of this
came from the 100000 fund turned
over to the institution by the conf
mittee 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 company's books is s2O,193, 400.
as shown by the December statement.
The company's surplus on December
10 was $T,169134. The amount due
to other trust companies was reduced
during the run from the August fig.
ures of nearly 100000 to less than
100000. Loans to directors, which
six months ago amounted to $780,.
900, do not appear in the December
statement, all directors having paid
up since then.
Thirteen trust companies contribute.
ed to the Associated Trust Company
Fund" which was raised for aiding
weak companies during the financial
furry. The largest contributors were
the United States Trust, the Central
| Trust, the Manhattan Trust The Nev