The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-04-19
HEAVY SURPLUS
NOW PI[|NG UP
Highest Reported by New
York Clearing House Banks
in Ten Years.
EXCESS OF LIQUID FUNDS
RECALL OF GOVERNMENT DE-
POSTS WOULD BE WELCOME.

New York, April 1S.-The statement
of clearing house banks for the week
shows that the banks hold S49, 9T3, 425
more than the requirements of the Is
per cent reserve. This is an increase of
ss,7O7,75 in the proportionate cash re-
serve. as compared with last week.
The statement follows:
Loans, 81. 1876. 725. 800: increase, $751;
Deposits. s1,245.s 800; increase $780,
OS9 coo.
Circulation. s5s4ss, 300; decrease. $780,
500
Legal tenders. SIS. 200; increase,
s2.l97, 900.
Specie, s2se.676,7OO; Increase. $685.
100.
Reserve, 1851, s75. 500; increase. sn.-
s79O.OOO
Reserve required l1,4Os,475; in
crease, S5,022. $50.
Surplus. $49.s7S, 425; increase, s6,70I-
$50.
Ex-U. S. deposits. $6O.S66.S75; increase,
S6,712,125.
The percentage of actual reserve of
the clearing house banks at the close
of business yesterday was 1926.
The statement of the banks and trust
companies OF Greater New York not
members of the clearing house shows
that these Institutions have aggregate
deposits of 1919 40. 800: total cash on
hand. $5S,00S, 000. and loans amounting
to SS06, 81, 200.
The Finanoier will say:
The surplus reserve of the New York
clearing house banks, according to the
statements of their actual condition is
sued Saturday, is 1913 256, 05G, an increase
of $685. 75 since the last previous re-
port This is the highest surplus re-
serve reported in over ten years and is
due To the continued heavy Temittances
of cash from the interior and to a lesser
extent to the losses which the treasury
is making to the banks on account of
currency deficiencies. The gain i'm cash
made by the associated banks last
week was s., 957 100. Loans decreased
S2l59 300 and deposits rose 81, 556 100.
This was on the report OF actual cOndi-
tons.
The statement on averages covering
six DAYS operations showed materially
different figures; the average increase
in deposits alone having been 10000
000, but the actual figures reveal the
true condition of the banks the old
system of averages being misleading in
this respect. The continued flow of
money from the Interior and the accu-
mutation of cash which the banks are
making from other sources is not as
healthful a sign as might be imagined,
e for the simple reason that il shows an
excess of liquid funds above the needs
Of business, and the exports of gold
which began last week are logical
consequence of the surplus of cash at
this center Just when further with
drawals of public deposits in banks by
the government viii be made is uncer-
tain, but with the losses which the
treasury is. reporting, for reasons al
ready outlined recall Of public de-
posits would be regarded very compla-
Gently by the banks
Indications Of any return flow of
money from New York TO the interior
to meet the spring crop requirements
are still waiting, but this movement
cannot be much longer delayed, al
though its volume is problematic.
Money rates in New York are now
down to those of European centerS, and
very narrow fluctuations Will increase
the exports of gold or stop il. The
banks and trust companies not report
ins fkz0ogh the clearing house made
substantial gains in all items last week,
due in part 10 the inclusion of the fig
ures of one of the failed Brooklyn trust
companies, which has resumed bust
hess. The actual cash reserve of THE
clearing house banks is now 1926 per
cent; that of the trust companies 30.4
per cent, and of the state banks 2I.02
3 Der cent