Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-12
NEW YORK BANKS.

Of clearing house banks for the week
shows that the banks hold $43. 265. SIS
more than the 25 per cent reserve rule.
This is an increase Of $2.575.375 in the
proportionate cash reserves as compared
with las: week. The statement follows:
Loans 11s7, All 800. increase $7.0SS. 100.
Deposits 81, 225. 500 900. increase $11, $685.
800.
Circulation $59, 9es. 800. increase $674.4
Legal tenders SCI, sol. 3OO increase $24S,
Specie sos7. 1890 increase $5,21s4Oo.
Reserve $349 CAS-. 300. increase S., 467 900.
Reserve required $500. 1856, 225. increase
Surplus s4s. ,e75. increase s2.575.37s
Ex-U. s. deposits $54.154,25O. increase
$2.593,375.
The percentage of actual reserve Of the
clearing house banks at the close OF bust
ness yesterday was 2S.63
The statement Of banks and trust COM
panies of Greater New York not members
Of the clearing house shows that these in
situations have aggregate deposits of
sSO5, TO. 800: total cash on hand, s57, 106. :
800. and loans amounting to $S12, 523 ZOO.
Money on call nominal.
Time loans easy: sixty days, 21aa2X, and
ninety days, 2&a3: six months. 3%.
Prime mercantile paper. 412a5 per cent.
Sterling exchange firm, with actual bust
ness In bankers bills at 4S6. 7Oa4S6.75 for
demand and at 4S4. 25a4S4.35 for sixty day
silver. 54h. Mexican dollars, Al. Govern
ment bonds steady. Railroad bonds firm.
The Ftnancier will say:
So far as surplus reserve is concerned,
the statement of averages Of the New
York clearing house banks and the state
ment OF their actual condition, as made
for the week ending April II. agree al
most exactly in amount, but there was q
wide discrepancy In the changes in the
various items which brought about this
result. The reports made by the banks
of their actual condition showed an in
crease in loans Of 81, 292. 600, whereas the
statement of averages indicated gain in
loans amounting only to about 1000. 600.
The actual Increase in cash reported by
the banks was 50, 1913, 200, or about twice
as much as had been anticipated, while
the gain In cash on the average system
for the week was $5,467OOO. Taking the
actual condition of banks as representing
the real facts. deposits rose during the
last six days s26,626, 300. thus increasing
the required reserve over s6,OOOOOO.
With this to contend with, however the
banks, by reason Of the large gain in
cash, Increased their surplus reserve
=, 536.625. and the total excess reserve
now stands at s45. 207.975. which makes a
record for long period past. 1t is diff
cult to determine what caused the sudden
expansion in loans during the past week.
EXCEPT on the ground that the financing of
the Erie notes was responsible for it. Gov
eminent deposits in New York banks re-
main almost stationary, but with the
losses which the treasury is making to the
banks on account of the current def
cts it is quite likely that even with an
other call for these government deposits
In sight the surplus reserve will not de-
crease as rapidly as otherwise might be
expected.
he cfr lat Of al MI ic
still being decreased regularly. the shink-
age for the past six days having been ap-
proximately one-half million dollars. But
little change was reported in the state
ments of trust companies and state banks
not affiliated with the clearing house.