Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-19

NEW YORK. April 18.-Thes statement
Of clearing house banks for the week
shows that the banks hold 9.g7S. 425
more than the rsquiremsnts Of the % per
cent reserve rule. This is an~increase OF
50, 707, 75O in the proportionate cash re-
serve, as compared with last week.
Enlightenment follows:
Loans. 81. 1875 f2A900: increase. $8,N7. 100
Deposits. $l.2AD. 100000; increase. $2O.-
O8800o
Circulation. $50. 800; decrease. $780,
500.
Legal tenders. sse.see.2 o6; increase. sa.-
Specie, $2ee.s76. 100: increase, 1865. 100
Reserve. $50, 375. 800; increase. i1.7ao.-
Reserve required. ssii.4oa &7S; increase.
Surplus, s4e.a1a42s; increase. ss.7o7.75o.
: The percentage Of actual reserve of the
clearing house banks at the close Of bust
ness yesterday waa 2026.
panies Of Greater New York. not mep-
bers Of the clearing house. shows that
these institutions have aggregate deposits
Of $S19. Tie. 500: total cash on hand. $685.
10000 and loans amounting to $685..
372,20O
Money on cali nominal
Time loans nominal: sixty days. 2h to
~. and ninety days. ~ to 3; six months,
~ to 3h.
close-frime mercantile paper. 4Aa5 per
cent. Sterling exchange normal, with
actual business in bankers bills at 4S7. 2Oa
4S7. Is for demand and at 4S4.75aAS4.sO for
sixty-day bills Commercial bills, 4S41s.
The Financier will say:
The surplus reserve of the New York
clearing house banks. according to the
= t0fa No. hAiu f~u,V 4
Saturday, is S3S. 258. $50. an increase OF
$S.04S. O75' since the last previous report
This Is the highest surplus reserve report
Cd In over ten years. and Is due to the
continued heavy remittances Of cash from
the interior and to a lesser extent to the
the banks on account of current deficits
in. public revenues. The gain in cash
made by the associated banks last week
was $9.0S7 100. Loans decreased 81. 159,
900 and deposits rose 81. $50. 100. This was
on the report of actual conditions. The
operations showed materially different
figures, the average increase In deposits
alone having been $20.O00.000. but the
actual figures reveal the true condition
being misleading In this respect.
The continued flow Of money from the
interior and the accumulation Of cash
which the banks are making from other
sources Is not as healthfu1 a sign as might
be imagined. for the simple reason that
1t shows an excess Of liquid funds above
the needs Of business, and the exports OF
gold which began last week arc q logical
consequence Of the surplus Of cash at this
center. Just when further Withdrawals
Of public deposits in banks by the gov
eminent will be made IL uncertain, but
with tho losses which the Treasury is
reporting, for reasons already outlined, a
recall public deposits would be regarded
very complacently by the banks.
indications OF any return flow Of money
from New York to the interior to meet
spring crop requirements are still wanting.
but this movement cannot be much longer
delayed. although it's volume 10 problem
atical. 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 1t. The banks
and trust companies not reporting
through the clearing house made substan-
tial gains In all items last week. due In
part to the inclusion Of the figures of
ono Of the failed Brooklyn trust COM
panies which has resumed business. The
actual cash reserve Of the clearing house
banks is now 1925 per cent: that Of the
trust companies. 30.4 per cent. and Of the
state banks, 27.02 per cent.