Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-15
FINANCE AND TRADE IN
MARKETS OF THE WORLD
NEW YORK BANK STATEMENT.

NEW YORK, March 1.-THE statement
Of clearing house banks for the week
shows that the banks hold $30665, O75
more than the requirements of the % per
cent reserve rule. This is an increase OF
500, 100 in the proportionate cash reserve
as compared with last week. The state
ment follows:
Loans. 81, 1850, I19, 500; decrease. S.. 629, 100
Deposits, Sill, 300; decrease 3d.
S7l 200.
100.
Legal tenders. s59,126,OOo; increase,
500, 600
Specie, $o64. 496, 400: decrease, S792 800.
Reserve, 1898 g., 400; decrease, $43S, 700.
Reserve required, 1902 ,957 ,325; decrease,
$685.. 800
Surplus $50. 600. O75; increase, 500 100.
Ex-United States deposits, $42,9S0, 300;
decrease. $774,30D.
The percentage of actual reserve of the
clearing house banks at the close of bust
ness yesterday was 21.61.
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 $40.
353::200. total cash ION hand S53, 800,
and loans amounting to ST., 9tS,g 900.
Money on call nominal. Time loans
easier. sixty days 312, and ninety days, 81.
to 4: six months, to AZ.
Close-Prime mercantile paper. 51aa6 per
cent: sterling exchange steady with actual
business in bankers bills at 4Sj. S5a4S5. 80
for demand, and at 4S3. 15a4S3.25 for sixty
day bills: commercial bills, 4.S3a4 S31h
bar silver. 55l3; Mexican dollars, Al; gov
eminent bonds, steady; railroad bonds
strong.
The Financier will say:
The statement of averages of the as
ISOLATED banks of New York for the week
ending March IA showed decreases in all
important items, but the statement of ac-
tual conditions at the close of business
Saturday revealed altogether a different
position. Taking the actual report, in
preference to that dealing with averages
of the week, specie and legals gained 81
13,30-this despite the heavy payments
by the banks to the treasury-ref1ecting
clearly the continued inflow of cash to
New York from the interior. Loans eX-
banded S2,O667OO while deposits rose 81
400. due TO the gain in cash and the
expansion in loans.
The banks are still decreasing their cir
culaton. the retirement for the week hav-
ing been about three-quarters of a mil
lion. With the continued flow from other
reserve centerS and the slight changes in
the loan item, the banks would be en-
barrassed by the accumulation of an idle
surplus. but the repayment to the treas
ury of public deposits has been more of a
relief than otherwise in preventing this
While the system of averages employed
in making up the weekly statement shows
surplus reserve of less than $31 OGO OoO,
the actual surplus of Saturday stood at
$33.3349,375
The summary of state banks and trust
companies in Greater New York not re-
porting to the New York clearing house
shows an expansion in almost all items,
loans having increased one and one-quar-
ter millions and deposits three and one
half millions. The percentage of cash re-
serve held by the clearing house banks
Saturday stood at 27.S2, the reserve of
state banks not reporting to the clearing
house was 24.3 per cent, and the reserve
of the trust companies was 26.:s per cent
With an increase in the volume of specu-
lation it is quite likely that the loans of
New York banks viii be higher from this
time on.