Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-30
NEW YORK BANK STATEMENT.

NEW YORK, August 29.-The state
ment Of clearing house banks for the
week shows that the banks held $65,358,-
975 more than the requirements Of the Is
per cent reserve rule. This is an In
crease Of $2.211.O00 in the proportionate
cash reserve as compared with last week
The statement follows:
Loans. $1,2S9,795. 500; increase. $3,204.-
Deposits, s1.3s4.611,SOO; increase. &c.
4s2.4O0.
Circulation. s54.6s5. 200; decrease, $780,
400.
Legal tenders, s7e.s71.sOo increase
Specie. ssa4,142.oOo; increase, $685.
300.
Reserve. s414.o1s.soo: increase, $780,
500.
Reserve required. ss4S,S54.325: increase,
$1.620.725.
Surplus. ss5,s5s,s75; increase, s2,211.-
600.
Ex-United States deposits, s67,e70,s50;
increase. $2,2O9.325.
The percentage of actual reserve Of the
clearing house banks at the close of busi-
ness yesterday was 1851.
The statement Of banks and trust COM
panies Of Greater New York not men,
bers of the clearing house shows that
these institutions have aggregate de-
posits Of $1.O43. 606.500; total cash on
hand, s103.728,6 800, and loans amounting
to $933.S62,10O.
Money on call nominal; no loans. Time
loans s easy; 60 days. ~ to 2. and 30
days, IN; six months, 3Aa3K.
Close: Prime mercantile paper, az to
AZ per cent. Sterling exchange steady,
with actual business in bankers bills
at 4.S4.25a4.8435 for 60 days and ass. s0a
1855 for demand. Commercial bills,
4
dollars. 40. Government bonds steady.
Railroad bonds irregular.
The Financier says this week:
The statement of the Associated Banks
August % showed a moderate expansion
OF $e.96S.9OO in loans and of 81. IA. 400 in
deposits. The interesting feature of the
exhibit was the loss of $6.434 900 in
specie. which decrease, however was par
TALLY offset by gain Of $4.S59. 200 in
legal tenders, making the net loss of cash
for the week $1,574.9 800. The decrease in
surplus reserve incident to changes just
noted was So. 400, bringing the present
surplus down to $61, TAI. $50 which, need
this period of the year. The loss in
specie Is to be attributed mainly to ship
ments of gold to Canada.
The Dominion banks have taken on the
present movement nearly $11.OOO.OOO for
the purpose of Strengthening their re-
serves over the present and approaching
crop season. and also as the result Of
bond sales through London. The chief
factor Of the present situation however,
is the piling up Of money in New York
from all sources, despite the fact that the
season for crop money is now approach
ing its highest limit.
Some banks in the interior report de-
mands on them for crop-moving pur-
poses. but these demands have not as yet
been reflected in New York. except in a
diminution of the flood Of excess money
which has been pouring into this center
continually for the past seven months.
There seems to be nothing in sight which
foreshadows an early hardening in rates
for money. and even the trust companies.
which have been loaning their money
freely since they have found it impos-
sible to obtain per cent interest on idle
funds in banks. report for the week an
increase of less than 49, million dollars
in loans.
Some bankers seem to look forward to
the fall season as foreshadowing higher
rates for funds. but to offset any coming
drain on the New York banks the situa-
ton at present appears to be working
into a condition which really invites i'm
ports Of gold from Europe.