The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-12-27
BANKS AND TRUST
COMPANIES SOUND
Special Report Of New York
Institutions Shows Distinct
Improvement.
.sHRINKAGE OF SECURITIES
sHRINKAGE OF SECURITIES
Loans Have Bcen Decreased and.
Cash Reserves and Assets
Enlarged.

NEW YORK. December 2G.-Undcr
tho cali OF the state Banking Depart.
ment for reports OF condition on De-
.cember 10th, twenty.one trust com.
'panles ana twenty-nine State, banks OF
Greater New York have filed their for
nal statements. While the effects OF
the recent storm are plainly evident
especially in regard to the Institutions
against which the attacks seemed most
~ directed. the statements as whole
bear testimony of the quick recovery
generally made, and the unwavering
confidence OF the great body OF de-
spositors. The reports also show that
certain OF the state banks OF New
York City did their share toward re-
lleving the financial situationIn other
cities. They accomplished th!s by ac-
cepting from the local national banks
q large quantity OF clearing -house GER
tifcates. leaving the national banks In
position to employ their cash In relief
OF customers and correspondence in the
interior.
Summary of Showing.
The twenty-nine State banks OF New
York. BROOKLYN. and the other bor-
oughs OF Greater New York which
have SO far reported show aggregate
deposits OF sa2a.70o.ooO. OF this enor-
nous sum the net loss in Withdrawals
since August % last amounted to
only, $3.05s.ll7.
The losses were distributed among
eighteen of the banks. with total with.
.drawals OF sl3,se5.161. while eleven
banks showed an aggre gate gain OF
s1n.Sse.644. The state banks Indicated
their prosperous condition By maintain
Ing cash reserves In some instances
tar in excess Of the Is per cent. re-
quired by State laws.
Only one state bank took advantage
of It's membership In the Clearing
House Association to Issue certificates.
which are now outstanding as LA.
bi,ity item OF $4,000. Nine OF tho
State banks hold clearing house certi.
tlcates to the extent Of s7100.0Oo.
lin the statements OF nineteen banks.
while the values OF stocks. bonds
mortgages, etc. AS an item Of resource
alone show general shrinkage. a
majority OF the banks show an increase
OF cash on hand.
Trust Companies Status.
The official statements OF the trust
companies OF Greater New, YORK are
perhaps fraught with the greatest In.
terest.
These institutions We're forced to
hear the brunt OF the financial storm
which broke with the suspension OF
the Knickerbocke Trust Company
The tweuty-one companies which have
thus far reported show falling on
Of deposits iron, $27s.o5e.30o on August
92d last to sl90,a5S,500 on December
18th. The loss OF deposits was &C
conopa!nied by the calling In Of loans
the reduction In the latter instance
amounting to $7s.o0o.0oo. Tho market
values OF stocks, etc. show q decline
oe about soo,0oo,ooo. In specie the
twenty.o1,e trust companies show 9
loss OF less than $2,oo0.0o0 while IN
the legal tenders and bank notes held
as reserve they show an increase OF
nearly s1,oOo.o0o.
withstood Great Storm.
The report OF tho Trust Company Of
America. which withstood run OF
many days, shows net decline In cast
reserve Of less than l per cent since
August 1st. The capital OF tho Trust
Company OF America, as with all the
other companies submitting reports
remains unimpaired. This showing 81
the company is made despite the fact
that during the run II paid out more
than 100000. 900. Part OF this came
from the s2o,OOO,000 fund turned over
to the institution by the committee OF
trust companies which camo TO the re-
| lief of the Trust Company OF America
when 1t was most in II eed.
| Loans to directors, which siN. n1ohths
ago amounted to $3,50o0o0, do not ap,
near In the December statement :, 81
directors having paid up during thf
II a, z. - Il