The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-01-19
The Bank Statement.

New York, Jan. H-The statement OF
| clearing house banks for the week shows
/ the requirements Of the % per cent re-
! serve rule.
This is an increase of S16.551, 425 in the
proportionate cash reserve as compared
with last week.
The statement follows:
Loans, 81, l26, 6lI100; increase. So. 522 100
Deposits, $1,000, 1SS, 500; increase, SIS, 537,
800
Circulation, s7O,slO,4OO; decrease. $780,
Legal tenders. sec. l55. 400; increase. So
S91 100.
Specie. $22s. OF. 200: increase, so. 294. 700.
Reserve, S295, 1S2 500; increase, $26, 1855, 800.
So, 634. 375.
Surplus. so eS5. 40; increase, as.551. 425.
Ex-United States deposits, $4064 ESQ; in
crease, SIG. 265, OPS.
The Einancier will say:
The official statement of the New York
associated banks last week was even
more remarkable, so far, as regarded the
increase in cash, than was that in the
previous week, the gain in reserve was
nearly equal to that denoted in the week
of Jan. II, while the surplus reserve
shown, of so, 6S5, 475, was greater than
any which has been recorded, at least in
two years, the maximum in 1907 being
SO, AL, 225, April 6, and in 1906 SIS. 3g1 OO5,
July p. The augmentation in cash dur
ing the fortnight, has been S44, 500 900, re-
flectlng the volume of the return flow
OF money from the interior which began
to be important Immediately after the
opening of the year. 1t would seem from
the exhibit that the question with Dor
roWers IS no longer that of monetary sup
plies and low rates; the question which
confronts lenders is how to employ re-
mUneratively the vast Accommodations of
loanable funds
The cash gain during the week was $685.
lS5.SO0, or more than One-third greater
than that in the previous week: this in
crease was three times larger than that
indicated by the most liberal estimates
which would seem to show that almost
every source of supply was brought un-
der contribution TO augment the cash
holdings of the banks at this center De-
posits were increased by the almost I'M
precedented sum of SSS. 537. 800. the result
of the gain in cash and OF expansion in
loans The required reserve against gem
eral deposits increased 50, 634, 375, deduct
ing which from the gain in cash left 1885,
sol 425 with the augmentation in reserve
the basis of deposits, less the one of
So or, 800 public funds-which We're re-
duced 81. $4,000 through recalls by the
treasury during the Week-the surplus Is
s40, 642, $50. Loans were expanded S, 52S 100
the first important increase in this item
shown Dy the statements since the crisis.
II would seem that with this plethoric
of the banks, and the prospect
that there will be a further augmentation
in the reserves in the immediate future |
there should be a rapid retirement of
clearing house certificates; the maximum
issue of such certificates during the crisis |
was S97 1900, at the end of December |
though, as officially stated, the amount |
actually utilized was $4,000. 0G0 The ag- /
gregate has been largely reduced in re- /
cent weeks and their entire extinction |
will probably soon be effected. When the |
fact is considered that the banks have |
since Nov. g. when there was a deficien- |
y of sJ4. 100000. restored their surplus TO |
more than 81, 500. 600 effecting a change of |
upward of S76.000,000. the result must be |
as wonderful