Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-15

NEW YORK. November 1.-THE state
ment of clearing house banks for the
week shows that the banks hold $3O211,-
$50 more than the requirements Of the Is
per cent reserve rule. This is a decrease
of $6S 025, $50 in the proportionate cash
reserve, as compared with last week. The
statement follows:
Loans 81, 32S 147 600: increase. S. 0o5. 500.
Deposits, 81, 4OS, 522, 600; increase, 66O1,-
700. .
Circulation, $50. 4s1, 800: decrease. $780,
341.
Legal tenders. s7s.oo4.5oo; increase.
Specie, $500, oss. 100; increase, $971,2oo
Reserve, 1881 ,O92, 600: increase, 1852, 400
Reserve required, $3.50. SSO,6JO increase,
81. $50 425. 49,
Surplus. $50. 2l1 $50; decrease. ses.o25
decrease, $50, $50.
The percentage Of actual reserve Of the
clearing house banks at the close Of busi-
ness yesterday was 27.3O.
The statement of banks and trust COM
panies Of Greater New York not members
of the clearing house shows that these
institutions have aggregate deposits of
81 ,O1S, 426. 500, total cash on hand $1O3, 49,
800. and loans amounting to $979, 81. 500.
Money on call. nominal.
Time loans very active. but steady: 81
q D
3N
Close-Prime mercantile paper. 4 to AZ
per cent. Sterling exchange firm, with
actual business In bankers bills at
4s3. 75a4S3.S5 for sixty-day bills and 4S5. 85a
$3.50 49,; ,. for demand; commerciai bills:
dollars. As. Government bonds, steady.
Railroad bonds, strong
The Flnancier will say:
The associated banks Of the city Of New
York issue each week two statements-one
based on average conditions covering the
previous week and the other showing the
actual conditions of business at the close
OF the current week. These two state
ments vary widely at times, but as gen.
eral rule the statement OF actual condi-
lions Is to be relied upon as showing the
real standing Of the banks, and therefore
in this analysis the figures reporting actual
conditions are always used. The exhibit
of the banks for the week ending NOvem.
Der II showed, as had been anticipated. a
very large expansion in loans. The In
crease, amounting to $11.025. 600, was due,
of course. to the revival of activity on the
stock exchange and also in general busi-
ness circles.
The banks gained $3.50. 100 in cash,
and slight gain from the interior, opera
tons with the subtreasury and an export
of 100000 of gold to Canada not being
sufficient to cut down the net gain for
the week. Deposits rose 1866, 500. and
this increased the reserve requirements by
over 81, 100000. The gain In cash. therefore,
did not prove sufficient to Offset the re-
Quired larger real reserve. and the reserve
on all deposits fell 81 .636 025. standing at
the close Of the week at 500, S3S. 725.
There was a remarkably heavy reduc-
ton OF $2.27O.s00 In circulation. traceable
to the fact that bank notes taken out
against temporary Treasury certificates is
sued a year ago are now being retired.
The summary Of state banks and trust
companies in Greater New York not re-
porting to the New York clearing house
showed for the week a heavy increase
of S7.S42. 500 in loans and an increase of
IS, 526. 600 in net deposits, although the in.
crease in cash was less than 100000.