The news-democrat. (Providence, R.I.) 1906-1909, 1907-12-27

New York. Dec. 27.--Yesterday was the
date OF the expiration OF most of the GO
day withdrawal notices required by the
savings banks at the height of the panic
I'm October. but scarcely depositor call
ed for his money.
The banks expected few demands as
they were convinced the feeling OF finan-
cial unrest was practically over. In
most cases Withdrawals were more than
offset by deposits.
Under call OF the state banking de-
partment for reports of conditions on
Dec. ~. q trust companies and 29 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 the few institutions against which the
as a whole bear testimony to the general
recovery and the unwavering confidence
OF the great body of depositors.
The reports also show that certain
state banks in New York city did their
share toward relieving the financial situ-
alton In other cities. They accomplished
this by accepting from the local national
banks 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 extent TO which the New York ma
In support OF threatened centres has al
ready been shown In the reports to the
, treasury department at Washington
The % state banks of New York. Brook
lyn and other boroughs Of Greater New
York. which have 80 far reported show
aggregate deposits of sos 100000. not in
! cluding amounts due TO other banks and
trust companies. OF this enormous sum
/ the net loss In Withdrawals since Aug %
last amounted to only $3.O56.1lT. The
losses were distributed among Is OF the
banks, with total Withdrawals Of sl3,925,-
! 76l. while II banks showed an aggregate
! gain OF $l0,S69 GA.
The New York city banks under state
| jurisdiction further helped the general
tional banks much OF the money on de-
7 posit by the latter institutions. Fifteen
OF the state banks show heavy decreases
/ In the amounts due TO other banks.
CONDITION PROSPEROUS.
Allowing for all Withdrawals and the
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 certificates
/ shows a reserve OF q per cent.
/ Only one state bank took advantage OF
I Its membership i'm the Clearing House as
/ sociation To Issue certificates which are
! now outstanding as a liability Item of
I $4,000. Nine OF the state banks hold
| clearing house certificates to the 6xtent
| OF SlO0O0O Loans and discounts show
a decrease I'm the state OF 10 OF the banks,
/ while the values OF stocks, bonds. mort
/ Cages. etc. as an item OF resource, also
show a general shrinkage
majority OF the banks show an in
crease OF cash on hand Especially Is this
/ true OF specie. which attained "A wider cir
culation I'm New York during the anan-
cial crisis than for many years past
/ The official statement OF the trust COM
/ panics OF Greater New York are fruught
with perhaps the greatest interest. these
! institutions being forced To bear the
/ brunt OF the financial storm which broke
j with the suspension OF the knickerbocker
| Trust company The n companies which
| have thus far reported show n failing on
| in deposits at from s27S 200 on Aug. -
| last to $50 2666no on Dec 10
The loss In deposits was accompanied
| by calling In OF loans, the reduction In
this respect amounting 10 S7SO01,0oo. The
market values OF stocks. etc, show a de-
cline OF about s2o,oo0.eo.
In specie the 2i trust companies show
"A loss OF less than S2.ooO.on0. while II legal
tenders and bank notes. held rs reserve,
they show an increase OF nearly N.ooo0o.
/ The trust companies were all put 10 n
severe test. but their buslnoss affairs. ac-
cording 10 the reports now submit ed,
have been SO adjusted that many ot che
officers claim they are I'm better posi-
| tion today than ever before.
PAID s0OOO.0cO IN RUN.
The report or the Trust Company o.
Am.-.,a whsch vi'b,icCd . rva % many
days was awaited with much interest. IL
shows net decline In ash reserve OF
less than I per cent since August last.
The cash reserve of the company now on
hand IL t3ssi. ecs-s percentage of 1917. as
against the legal Is per cent requirement
The reserve of the company last August