Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-02
NEW YORK BANK STATEMENT.

NEW YORK. February 1.-The state
ment of clearing house banks for the
week shows that the banks hold 1926,
725 more than the requirements OF the
Is per cent reserve rule. This is an in
crease of So, 462 225 in the proportionate
cash reserve as compared with last week
The statement follows:
Loans, 81, 1873, 1856. 100; decrease. l,7SS,
GOO
Deposits, $l.1ss.5O1. 500: increase. ST.
1893. 500.
Legal tenders. ss7, ol2. 500; decrease. ST.
Specie. s25s. 1se, 600: increase. $7.sY6.Yoo
Reserve, 1926, 1872 100; increase. $6.295.
600
Reserve required. s2s4.e25,s75; increase,
Surplus. $40 52s, 725; increase. s.4e2. 225.
Ex-United States deposits, $50. 7S2. 725;
increase, $1,316.1 25.
. slightly firmer: sixty days, 3az to 4. and
ninety days. to Az; six months, AZ to
AZ.
Close: Prime mercantile paper. 51sad
per cent. Sterling exchange fairly steady,
with actual business in bankers bills at
4.s89Oa4.S7 for demand and at 4.83.65a-
4.S3. 10 for sixty-day bills. Commercial bills.
4.S31aa4 S3ss. Bar silver, 55h. Mexican
dollars, A. Governments bonds steady.
Railroad bonds heavy.
The Financier says:
The most notable feature of last week s
official statement Of the New York asso-
ciated banks was the comparatively small
increase In the reserve. This gain was
So. 5s2, 22o, following considerable augmen-
tations in inIn ediately preceding weeks
fourteen and two-fifths millions In the
week of January %, sixteen and one-half
in that of January Is, and seventeen and
two-thirds millions in the week of jan
uary IL. which latter gain was the maxi
mum recorded since the Improvement In
bank conditions began.
This smaller increase in reserve is. how
ever. clearly due to the reduction OF
So, 49,. 400 in public deposits during the
week. the largest reduction in this item
since the Secretary of the Treasury COM
menced to contribute through deposits OF
public funds in the New York banks to
the relief of the local banking situation
1t is interesting to note that. compared
with the maximum of public deposits In
local banks December %, there has now
been a reduction therein Of seventeen
and four-fifths millions.
The increase in cash shown by last
weeks statement was 81. 295 600. This
agrees very closely with the estimates
which were based upon the traceable
movements of money during the week
General deposits were increased Sill. 333.
500. and the required reserve was. there
which from the gain in cash leaves 81, a..
225 as the increase in surplus reserve to
$40. 5:6. 725, the highest since September.
1907.
Computed upon the basis of deposits. less
those of public funds. which, as above
stated. were reduced Ss.534. 400, as COM
pared with the previous week, the surplus
Is $50. $50, 725.
Loans were contracted 1.7S3. 600 during
the week, and it is noteworthy that there
was an excess of Ais, 400 deposits over
loans for the first time since July. 1896
The largest excess loans shown In the
interval was one hundred and fifteen mil
lions. in the week of November 80 last
year.
The statement seems to encourage ex-
pectations, in the smaller gain in surplus
| reserve. Of an anticipation of monetary
congestion at this, center in the near fI-
ture provided the Secretary of the Treas.
ury shall contribute thereto through fur
Their Withdrawals OF public deposits from
our banks. or provided that the flow OF
cash hither from the interior shah de-
crease in volume as the result OF reg
toration Of monetary equilibrium.