The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1907-12-28
NEW YORK BANKS
HAVE RECOVERED
REPORTS ALL OVER STATE SHOW
EFFECTS OF RECENT FINAN-
c'AL FURRY.

ports of condition on December 19. 81
trust companies and 80 state banks of
mai statements. While the effects OF
the recent storm are plainly evident,
especially in regard to those few in
situations against which the attack
seemed most direct, the statement as
recovery generally made and the I'M
wavering confidence of the great body
of depOsitors. The reports also show
that certain Of the state banks of New
York city did their share toward re-
lieving the financial situation in other
cities. They accomplished this by ac-
cepting from the local National banks
a large quantity of clearinghouse GER
%tificates, leaving the National banks
in position to employ their cash in re-
lief of customers and corporations.
Less of Deposits Small.
The 30 state banks of New York,
Brooklyn. and the other ~boroughs of
Greater New York. which have so far
reported. show aggregate deposits of
1925, 600, 600. OF this enormous sum,
the ret loss in Withdrawals since Au-
gust p. last, amounted to only $685.
among Is of the banks. with total with
Grawals of $685. 61, while II banks
showed an aggregate gain of SO, $685.
644.
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
Is per cent required by state laws.
One of the largest holders of the certi-
icates shows a reserve of "a per cent.
Only n state bank took advantage
Of its membership in the Clearing
House association to issue certificates,
which are now an outstanding item of
$500, 900. Nine of the state banks held
clearinghouse certificates to the extent
of s7,1OO. 600.
Loans and discounts show a de-
crease in the statements of 10 of the
banks, While the values Of stocks,
bonds. mortgages. etc. as an item of
resource also show a general shrink
non 4 n inrtfr Of H. Iax L.
increase of cash on hand.
Trust Companies Hard Hit.
The official statements of the trust
companies of Greater New York are
perhaps fraught with the greatest in
terest. The institutions were forced to
bear the brunt of the financial storm,
which broke with the suspension of the
kL~ickerbocker Trust company. The 81
companies which have thus far re-
ported show a falling off of deposits
from s27S.056, 800 on August %, last,
to $780, 56, 500 on December 10. The
loss of deposits was accompanied by
/ calling in of leans, the reduction in
J the latter item amounting to SIS. OOO.-
600. The market values of stocks. etc.
show a decline of about $40. 900, 900. In
specie the 81 trust companies show a
loss of less han $4,000, 00O. while in le-
gal tender and bank notes held as re-
serve they show an INCREASE of nearly
$1,000, 900.
The trust companies all were put to
a severe test. but their business af-
fairs. according to the reports now
submitted. have been SO adjusted that
many of the officers declare they are in
a better position today thai ever be-
fore.
One Which Bore the Brunt.
n report of the Trust company of
America, which withstood a run of
many days. was awaited with much in
terest- 1t shows a net decline in cash
reserve of less than / per cent since
August l.. The cash reserve now OH
hand is s3.354 225. a percentage of 1877
as against the legal Is per cent re-
quirement. The reserve last August
was something more than s11. 000, 900,
Tor 1l-52 per rent of the deposits. The
cash. as with other companies sub